Find out the hidden truth that so called cursed lottery winners didn’t know!
The Illusion with Numbers The immense appeal winning the lottery has
is undeniable.
Millions of people across the world have spent countless millions trying to win the so-called
golden ticket.
It has to happen to SOMEone.
If you won, you get all the attention, all of the recognition and, of course, all the
money.
But do you really?
One of the things many lottery winners forget is that once you win the lottery, you gotta
pay big time taxes.
Some countries don’t have this rule.
But if you do have to pay, it's a big chunk of change.
Big Jackpots generally have an annuity option, and they usually go for as long as 30 years.
This is the option we recommend to anyone that’s never had money before to take.
Why?
The reasons are all psychological.
Yes, if you have the discipline to not blow the money AND you know finance, then by all
means take the lump sum.
You know what taking the annuity guarantees?
Guarantees the lottery winners they’ll at least be rich for however long the annuity
takes.
Would we be making this video if lottery winners decided to take the safer option with the
annuity?
You know the answer!
More Money More Problems As life-changing as winning the lottery is,
one thing is true.
The more money you make, the more problems you have!
Biggie dropped the truth on that one way back in the day!
But the truth is this.
It DOESN’T have to be that way.
More problems come into lottery winners lives because they’re the ones that create the
problems if we’re honest about it.
If you won the lottery, your money troubles SHOULD be solved.
The theory is that you don't have to worry about money problems ever again!
But we know that that doesn’t happen.
One research study claims that roughly 70% of all lottery winners end up going broke
after a few years, while another study says it’s around a third of lottery winners.
The truth is that it’s somewhere in between.
Whatever the actual number is, what’s true is that lottery winners go broke way more
than the average person.
What happens when someone wins the lottery?
They start doing crazy spending.
Huge mansions, ultra expensive cars, never-ending vacations, the list goes on and on.
This is why Biggie was right.
People create more problems for themselves by buying things they don’t really need.
Rich people become rich because they only buy things that they need and focus on generating
more money.
Most of the time, making more money isn’t the goal of people who’re already rich,
but rather it’s a side effect of them doing what they love!
One study showed that the relationship between bankruptcy and receiving a windfall without
any effort leads to a loss of at least half of the money.
Receiving unearned money only delays an expected bankruptcy status for a person who was already
struggling financially.
The main reason why is because of the lack of knowledge on how to efficiently use their
newfound money.
That’s why it’s just a matter of time.
Find something to do Here’s one thing lottery winners really
shouldn’t do: quit their job.
Okay maybe not.
But the thing is this.
Lottery winners should try to have as little disruption from their normal life as possible.
This way, they can get used to the money.
Impulsive behavior is the reason for all the bankruptcy we've seen with lottery winners.
No amount of money can ever NOT be immune from bankruptcy.
Just look at the billionaires who’ve gone broke before!
Understanding that money only solves money problems is something lottery winners need
to understand.
Hire a professional So, what should you do?
Well, basically the whole point of life is do whatever you want to do.
But that always comes within reason.
Not having to work for money means that money is working for you instead.
The best thing most winners can do is hire a fiduciary financial adviser.
This is a person who’ll come up with a thoughtful plan of how to invest their money so it can
actually grow.
And typically they’ll come up with a number that shows how much lottery winners can spend
each month.
Really, it’s that simple guys.
Making a budget and sticking to it!
No idea what to do with the money Historically, most people who've won the jackpot
have a history of poor financial decisions.
With this in mind, it's understandable the way they handled their money led them to bankruptcy.
Making random investments just because you got the money for it, is NOT the way to go.
Too many winners have gone down this spiral, only to find that whatever investment from
some random guy was completely a bad idea.
Family Matters Knowing how to handle that amount of money
isn’t easy.
It requires the right mindset all the time, something most winners don't even think about.
Many winners end up dealing with depression.
It’s probably because they found out that most people around them ended up revealing
who they actually were!
Their entire life changes.
But that’s only if you let it.
But what you can’t change is the way people act around you.
You may think it's impossible that your family's attitude towards you will change, but ask
anyone who’s come into money.
Or anyone that’s become famous.
The lure of fame and money is so powerful that many families face huge tension once
one of their members wins the lottery.
People start asking for money and demanding you pay them back for everything they've done
for you.
It seems like stuff from some made-for-TV movie, but it's real.
For example, Kanye’s own COUSIN stole his Macbook and threatened to release its contents
unless Kanye paid him 250 thousand dollars.
And Kanye paid it.
Run it by the real boss This is a sad reality most lottery winners
don't know how to face, so they just cave in and say yes to their relatives' requests.
There ARE ways to avoid falling to the pressure of the emotional manipulation and constant
guilt trips from family members.
One tip that may save a lot of lottery winners from ruining the relationship with their family.
Blame it on the financial advisor.
Whenever they're prompted with a request or a new business idea, just say the advisor
has to sign off on it.
It frees them from the blame.
Mentally Rich What generally happens to lottery winners
is that, once they’re financially rich, they feel they can spend as much as they want,
whenever they want, however they want.
The problem with that is this.
They’re financially rich, but they’re mentally broke.
Their mentality is the truth why they can’t help but go broke.
Their state of mind creates a never-ending spiral that just sucks the money out of them.
Being rich really is a state of mind.
Millionaires and even billionaires who made their own money understand this better than
anyone else.
Instead of concentrating on all the things they can buy, they focus on doing what it
was that led them to getting rich in the first place.
Many millionaires and billionaires understand that money is just a tool to use.
They just buy things that allow them to live life the way they want to.
Money never became their identity.
They don’t buy expensive things because it’s expensive and they want to show off.
They buy expensive things because it’s what they actually want and they don’t care if
no one else in the world knew it.
How much Happiness can be bought?
Winning the lottery seems to be the ultimate dream for a lot of people.
But, does it actually make people happier?
There’s been plenty of research studying the psychological effects winning the lottery
has on people.
Studies have shown that there’s no clear indication that winning a lottery makes anyone
happy.
It may seem like a no-brainer that no more money problems means a lifetime of happiness
and joy but that’s not the truth.
One really old study from 1978 compared lottery winners with regular people and found that
winning the lottery didn't really improve long-term happiness.
The study demonstrated that people, regardless of a life-changing situation on the outside,
have a determined state of happiness which they return to after a while.
Lottery winners tend to increase their happiness right after winning, but they generally go
back to their previous happiness level.
This is what experts call hedonic adaptation.
Your happiness set point, which is determined of course by the winner prior to winning,
won’t change by winning the lottery.
Any deep rooted issues is something money won’t solve.
It’s only a temporary band-aid that helps to cover up the problem.
To sum it up: all the money in the world can’t solve any non-money problems and make someone
happier!
It's not about the money Money is just money, and how someone looks
at it is that person’s viewpoint.
Money isn’t evil nor is it good.
But it’s rather how someone perceives the money is what’s the crucial difference.
How many times have you heard a self-made millionaire say their life got worse because
of the hard-earned money they now have?
The thing is that with lottery winners, they view the money differently than someone that
worked hard for the money.
Without the knowledge of how to accumulate millions of dollars the conventional way,
it seems that lottery winners simply just don’t know how to handle money in general.
The experts say lottery winners need to become a person who's prepared to handle a huge sum
of money.
That’s obviously easier said than done.
Becoming a person who’s stable enough mentally to handle the power money brings is the real
goal.
The hidden truth that lottery winners don’t know is that rich people became rich because
they didn’t do it strictly for the money.
They were just creating services and products that benefited the world.
The money was just something that came along.
The world can’t help but give those people money because of the massive value they created.
Money is the side effect of what they did.
And without this mentality of constantly creating more value than receiving value, it’s only
a matter of time before lottery winners go broke!
Keep the circle small Lottery winners really should tell no one
that they won the lottery.
The whole press conference for lottery winners only benefits the people that put on the lottery.
There’s no upside for the winner at all!
Winning the lottery guarantees people that people will start randomly appearing in their
life now.
Obviously it’s because people know they’re rich.
Letting the rest of the world know that they won the lottery is absolutely the wrong move.
Too many winners have been scammed because one-too-many people found out they had money.
Some people even have been murdered!
This guy who showed up in the scream mask had the exact right idea.
The fewer the people who know, the better!
We've said it before and we'll say it again.
Lottery winners should immediately get someone whose a fiduciary that they can blame.
Blame for what?
Having to say no all the time!
He’ll be prepared to say no, because he’s legally bound to do what’s in your best
interest!
Watch this video to find out people who weren’t the smartest with their winnings!