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the lottery thing is more easily understood though. (i have had several as clients over the years.) most of them came from very modest means and won $XXmillion dollars - an unspendable sum of money in their minds. they often don't take into account how the math can really work for or against them. the ones i've seen run into financial trouble follow a pretty simple formula A) tell everyone they know B) buy big new house for them and family members, paying cash of course C) buy the flashy cars and toys they always wanted D) help out family members and friends who have always been there for them. E) invest in their own poorly thought out business ventures or similar ideas a "friend" had. F) somewhere along the line they realize they have a lot less than they started with and start trading or investing in risky ventures to get their money supply back up, thus losing even more. G) take a look at the credit lines they have stretched out and realize they are equal to or greater than what they have left. then they start contemplating the big BK.
my personal favorite is someone i knew who inthe 3 months space that i didn't see them, won a couple million, quit their job, paid off their house and bought another for their mom, and another "vacation home" up north, a mercedes and a hummer ('cuz the wife's gott drive too) and then came to me, because they misunderstood the payout structure and needed a little cash to cover the expenses.
All of which lends itself to:
What would you do if you won the lottery? Let's be more specific, Let's say $5,000,000 (after taxes) falls into your lap.
What would you change about your life?
What would you buy?
Would you give any of the money away?
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Getting knocked down is no sin, it's not getting back up that's the sin
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