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Posted: Wednesday, Oct 30,2019 | Time: 01:01 pm | Edited by: The Lottery Lab Staff
Do you know any multi-million dollar lottery winners? You might know one and not even realize it. That is because the experience of winning the lottery isn’t always what people expect. Let’s take a walk in their shoes to explore the things lottery winners learn but won’t tell you!
When we won our lottery, we became a millionaire overnight! But whether you win $500 million or $1 million, about 70 percent of lottery winners lose or spend all their money in 5 years or less.
Do lottery winners still play lotto even after their big win? Absolutely! And most of us are confident that we are going to win again.
We hear a lot of sob stories about a friend who is behind on their taxes and is going to lose their house. Or other friends who are not able to buy something they really want because they have no money.
If you win $4 million and find yourself in a room full of lotto winners who won $100 million or more, all of sudden, you won’t feel very rich. It’s all relative. You can still do so much more with your $4 million if you invest it smartly while $100 million winner runs out of his money because of his poor spending habits or investments.
A lottery winner purchased an 8-bedroom, 7-bath, 10,000-square-foot mansion, just because he could! Now he is selling it because it makes no sense to have an 8-bedroom mansion for a family of 4. There are lots of impractical impulse-driven purchases we regret later.
After lottery winners win, we often move into a wealthy neighborhood, but the neighbors tend to gossip about us as lottery winners. From their perspective, we didn’t earn our money, we just got lucky!
We constantly have to answer questions about our spending habits and financial decisions. People ask all sorts of questions: where we keep the money, how we spend it, and if we still have it! Sometimes it can get embarrassing.
Bonus Read: Heed These Lottery Lessons from Powerball Winners
Most lottery winners think they’re going to have the same friends and the same things that they always have. But they are wrong. Some friends will try to take advantage of you. Some will just stop hanging out with you because your lifestyle is too expensive for them. Others will leave because they are jealous!
If you think you are going to win the lottery and enjoy your life quietly afterward, you may be disappointed! Check your state laws because many states require you to do a news conference while holding up the big cheque!
You haven’t lived until you make some mistakes and learned from them! Winning a lottery and making bad purchases is just a part of learning! But overall, life is great! Moreover, we are here for you to tell you things lottery winners won't tell you. If you are itching to play the lottery, visit thelotterylab.com to assess the likelihood of your numbers appearing in the next draw using our advanced tools!
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