Well, winning the lottery just changed their worries instead of letting them live worry free as they expected.
Many people live paycheque to paycheque and the thought of relieving that burden is what gives them hope when winning the lottery. Then after winning the lottery there is no more paycheque to paycheque.
However, then they find out that they have a new set of worries. With all that money they are now prime targets for scammers. They are prime targets for people seeking an insurance claim. They are targets for salesmen of all types and varieties.
Then there are the family expectations. You won the lottery? Great! Where is my cut? Kids who would have been thrilled with a new Ps2 now get upset with that because they expect a new car. Parents who were just happy that their children were succeeding are now unhappy that you aren’t taking better care of them. Family members including distant relatives all suddenly know who and where you are and get upset if you don’t help with their problems.
Then there is the simple fact that many people don’t know how to take care of all that money. They get overwhelmed with the investment requirements. Or they spend too much and end up in even worse shape.
Or perhaps they just get overwhelmed with stuff. Everything you buy is a burden on your life. Ever car you buy needs maintenance and insurance. The same thing for every property. Even worse if it is a rental property as it will require maintenance and upkeep from a distance. Buy a yacht? Now you have to worry about mooring, licenses, upkeep and more. Even smaller thing like new computer means learning a new system. New gaming system…new accounts to keep track of.
Winning a lottery is awesome but wealth can be a burden. For those who aren’t expecting that burden might grumble with it.
European lottery jackpot records.If you ever thought that all jackpot winners were created equal, then you’re definitely wrong. European sweepstake participants tend to be luckier than the Americans who buy coupons for the multistate franchisees like Powerball and Megamillions. Because all takings and winning in Europeans lotters including the top jackpots are exempt any sort of taxation meaning you don’t have to pay tax for what or whatever you win which is great.
For example the biggest lottery in Europe call EuroMillions, like the Powerball or Mega Millions super lotto (that is open to 44 states in the US) is a multinational or transnational lottery that is open to players from 13 European countries including Isle of Man, Andorra, Monaco, and Lichtenstein. The EuroMillions was launched in France on 7th February 2004 and the debut draw was organized on 13th February of that year. Powerball and Mega Millions jackpot winners have to forego a sizable proportion (more than 50%) of their takings in the form of taxes.
EuroMillions winners have been more fortunate on this account (by default) as they have been able to take home nearly their entire winnings. EuroMillions, since it’s launching has witnessed several landslides wins where each and every jackpot winner has collected at least a £20 million (or US$28.54 million or €22.99 million) purse.
|5 BIGGEST EUROMILLIONS™ WINNERS
Come have a closer look at our European lottery Games.
Mark Cuban, is best known for developing communications giant Broadcast.com, offered this advice in his local paper, the Dallas Morning News after.
When the $1.5 Billion Powerball was won by three tickets in 2016, billionaire, Mark Cuban gave some interesting advice to winners.
Here are the 7 tips given by a millionaire Mark Cuban to lottery winner :
- The first thing you should do is hire a tax attorney.
- Don’t take the lump sum. You don’t want to blow it all in one spot.
- If you weren’t happy yesterday, you won’t be happy tomorrow. It’s money. It’s not happiness.
- If you were happy yesterday, you are going to be a lot happier tomorrow. It’s money. Life gets easier when you don’t have to worry about the bills.
- Tell all your friends and relatives no. They will ask them no. If you are close to them, you already know who needs help and what they need.
- Feel free to help some, but talk to your accountant before you do anything and remember this, no one needs $1 million for anything. No one needs $100,000 for anything. Anyone who asks is not your friend.
- You don’t become a smart investor when you win the lottery. Don’t make investments. You can put it in the bank and live comfortably. Forever. You will sleep a lot better knowing you won’t lose money.
He also shared one last bonus tip: Be nice. No one likes a mean billionaire.