Top Reasons Why Lottery Winners Go Broke!

Why do lottery winners go broke?! Are lottery winners just cursed?! Find out all about the reasons why lottery winners go broke! Subscribe to Pablito’s Way! http://www.youtube.com/channel/UCk2zuJeRutyMZSdoh0sltLA?sub_confirmation=1 New videos Monday through Friday! New to Pablito's Way? Start here! https://www.youtube.com/playlist?list=PLC9umoxByMRJQoW_PzGK-n84iLQgbQyN2 Watch some of my favorite vids below….. Most Insane Mayweather Moments! https://youtu.be/bLko6Lcjib4 WEIRDEST Things Ever Found in Animals! https://youtu.be/2TH1Xbt8l-c 9 of the WORST diseases EVER! https://youtu.be/01M-uJccOBs Assassinations That CHANGED the World! https://youtu.be/OjyKD06OyYM The Hottest Female Athletes! https://youtu.be/S4p1_MQrKK4 11 Most Ridiculous Purchases by Floyd "Money" Mayweather! https://youtu.be/gjskIvCrG2Y Here are the top reasons why lottery winners go broke! 6 - Family and Money….. It’s overwhelming to suddenly stumble upon an amount of money that’s in most cases more money than 99% of the population would otherwise make in a lifetime. The smart thing to do is to consult with actual legal and financial experts who’re experienced in dealing with unexpected windfalls, such as inheritances, or in this case, lottery winnings. It’s not just lottery winners that can’t deal with a large windfall at one time. Just think of how many professional athletes go broke. Most people just don’t know how to react to such a large amount of money that they didn’t really work for. As it turns out, there’re lawyers who specialize in the niche field of advising instant millionaires on how not to blow their windfalls. Yes, actual lawyers. Or you can go with a fiduciary advisor. Not your smarta*s nephew who once saw a documentary on lottery winners. In fact, listening too much to the advice of friends and family is probably the second best way to lose your money. Large amounts of money is a complicated business. If you’ve never dealt with it before, you need professional help. Unless your brother-in-law’s surname is Gates or Zuckerberg, he’s likely to just “advise” you to invest in one of his horribly laughable ideas for a business. 5 - Watch your back People get bled dry, sometimes quite literally. We’ve already gone over Abraham Shakespeare before in one of my previous videos, but we’re gonna go over Mr. Shakespeare real quick gain. Abraham won a thirty million dollar lottery jackpot in Florida, receiving a lump sum of $17 million in 2006. He moved out of his working-class neighborhood in Lakeland, Florida into a gated community. Several months after his lottery win, apart from a million dollar home, his only other major purchases included a Nissan Altima and a second-hand Rolex watch. His actually relatively modest purchases wasn’t what done him in. It was the people that he kept around him. Shortly after his lottery win, Abraham’s family declared him missing, and in January 2010 his body was found buried under a concrete slab in the backyard of an acquaintance. Dorice "Dee Dee" Moore was convicted of his murder and is now serving life in prison without the possibility of parole. Abraham, however, isn’t the only winner who has been murdered over his millions. Urooj Khan won $1 million in the Illinois lottery in 2012, and opted for the lump-sum payout of $424,500 instead of annual payments. He planned to use the money to expand his dry-cleaning business. Sadly, Khan died less than a month after winning, the day after his check was mailed. While his death was ruled natural at first, a test later revealed that he had been poisoned with cyanide. The police have not named a suspect, and a subsequent autopsy revealed nothing more. When you get a bunch of money, really DJ Khaled said it best. No new friends! 4 - Discounted Cash Flows?! This is probably the most obvious example of how to lose it all real quick. Blow it. You’d be surprised at how quickly previously broke people can burn through millions of dollars. William "Bud" Post won $16.2 million in the Pennsylvania lottery in 1988, but soon had $1 million in debt within a year. A year!!! How do you blow 17 mill in a year?!?! On top of that, his ex-girlfriend successfully sued him for a share of his winnings and his brother was arrested for hiring a hitman to kill him in the hopes that he'd inherit a share of the winnings. F?!?!?!****ck!! After sinking money into various family businesses, Post sank into debt and spent time in jail for firing a gun over the head of a bill collector. Unfortunately Post now lives quietly on $450 a month and food stamps.

Comments

1. Can you do The Smartest Lottery Winners Ever
2. jane park could have put her money in a trust until she was more mature
3. My Dad once met a couple who claimed to have won the "major draw" in lottery. They basically told him that it ruined their lives some what. They told my Dad that if he ever won, to take the money and run. Their problem was, everyone and their dog came looking for a hand out. This caused a lot of problems for them and lost many a friend over this. Also they found, some how financial advisors found out about their winnings and were constantly bombarded with offers, anyway for these greedy bastards to get their grubby hands on their loot.
4. jez buy some real estate or stash some rainy day money in a locked account. not hard at all.
5. In Australia what you win is what you get tax free
6. Why does a 16 year old play the lottery if she didn't plan on fixing that snaggle tooth
7. Jane Park, what a dumb bimbo, if she's so unhappy being rich, she should donate all her money to a charity, and go back to flipping burgers somewhere. 😒
8. if you win something like that do like an Egyptian and bay a lot of gold
9. 666 @ 11:36
10. I would get homes lots of them.rent them out.
11. Just follow 3 and 2
12. Heck, if you win you can take a few college courses on finance, and keep the money you'd spend paying someone else to do it for you. A financial advisor would just bleed you dry!😉
13. Just don't tell anyone you won, especially family and so called friends. Also don't go to a financial planner, they'll just bleed you dry. Then of course some people think easy come easy go, that's the ones that will be broke in no time at all!😖😒😡😝
14. Taking the lump sum is far better than taking annuity payments by a long shot.
15. Man the government can be such pigs
16. ..............Hey I was born poor and I will die poor..............
17. lottery winners go broke because when you give someone that has never had shit a bunch of money. they go off the fucking rails and spend like the world is gonna end
18. What do you mean he won $17million? The check said $30milliom!!!!!
19. Anunuity payments.
20. she is not the smatest woman ??????