Topic: A person who won 600k$ in lottery - page 7. (Read 2430 times)

It should be balance but that's part of after-effect if you don't know how to manage your money, like in your situation even the lucky person can buy a new house with his winning money,.

But without a source of income, the house can become a liability as maintaining a big house needs money
to cover your expenses, you need to plan well with your money and better to make that money works
for you in terms of putting up business or investment that have potential good outcome.

This happens because those people cannot think long term, most people do in fact buy the most expensive house they can afford not realizing that if you have a bigger house now you need more and better furniture, the costs of maintaining that house will be higher and it is possible the utilities will be way more expensive simply because of where the house is located, so a lot of people end up losing their houses as they never imagined all the new costs associated with it.

Most people who hit the jackpot and managed to get rich must have done that kind of thing because they felt that they got large amounts of money easily and believed that one day they would get it back so wasting money was not something that was too thought considered but it was a big mistake and he would quickly become bankrupt and lose his entire fortune in an instant.
It is difficult to find gamblers who have a rich mentality or a responsible attitude or think about business to make life more stable in the future and most people are too dependent on gambling that think wins like that can come again.

It's not surprising that so many gamblers become millionaires suddenly but in a short time they return to their past lives where they were economically difficult because they were bankrupt.

The incident mentioned by OP can be considered for two reasons, one for the mismanagement of money, Next thing is the kindness. Here we saw what the vegetable vendor had been agonizing, how he experienced luck and success, and finally how he turned to be a victim of being kind hearted.

Opportunity missed is missed forever. Very few get it again. When the luck knocks our door we need to be careful and have the best planning for our future. Similar incident happened in my nearby state where a tuk tuk driver got lucky to win big. He's in complete debt and was planning to travel abroad for job. By that time he got lucky and won jackpot. It was happy, but it didn't last long as he was mentally pressured by surroundings requesting for money. All of the sudden he was away and the next day he's missing which is the news on every local media. If he was kind hearted he might've experienced what the vegetable vendor experienced.

We must avoid that so that no one wants to harm us just because we won the lottery. It also feels uncomfortable if there are people who will use what we have for their own interests without us knowing their intentions. To avoid things that we don't want, we should hide our winnings from the lottery and keep it to ourselves so that no one wonders about our winnings in the lottery game.

The next of kin, for example, their wife or children, must be notified because the money will be for them and their future so they can also prepare their next plans with the winning money. But they also have to be told not to tell anyone about the victory to avoid things we don't want. And don't keep the money at home because it will be more dangerous if someone overhears our conversation by going out and they have bad intentions towards our family. And the winning money should be used to invest in other things that will provide more profit.

If they still have a poor mentality, usually when they win a lot of money, of course, they will use it for something they have never bought, then they buy it, even for useless things, they will also spend money quickly without thinking about how the money should rotate, if their mentality is already rich, of course they will use the winning money to do business so that the money rotates and makes money.

I often find people like that around me, they even buy a big house but they don't think about how they are going to pay for electricity and water even whatever is in the house without any other income, that's why before gambling it is necessary to have a rich mentality because with a poor mentality it will be difficult to control finances properly.

A person with a business mindset will definitely go for investing a very large chunk of the money they've won in something that they know can generate some money for them and that income stream won't just close down or cease to provide for him, and if one has a lot of money, they can create multiple streams for themselves and that will make their life easier. Even if someone wants to enjoy and have fun, they can always do that with the money they will earn from their businesses and investments.

However, a lot of people who manage to win significant amounts of money either through gambling or lotteries tend to waste that on materialistic things or just blow it away as you said, they don't make good use of the money and when the money runs out, that is when they realize what they've done.

Winning the lotto may sound like a pipe dream to some, but for many, it proves to be a confusing maze. People frequently make bad choices because of their ignorance and the excitement of an unexpected victory. Though justified, this disdain for such choices is also a sign of a more serious problem.

What if we integrated gambling knowledge and financial literacy into regular schooling rather than leaving kids to fend for themselves? Give people the resources they need to handle such victories successfully. Maybe people wouldnt end up starting again if they learned how to distinguish between assets and obligations. They may then begin living the dream rather than daydreaming once more.

If the gamblers won the big money,he will buy the expensive things which was the longest wish of them.Before the jackpot he need to play many games,he don’t know when the exact time will happen.Most of the money will be used by the gamblers for the luxurious things,because it was not fulfilled because of the no money.Some gamblers will buy the assets using the winning money,because the money will become zero one day.But the assets like property can be used any time later to cash out at the needed time,many gamblers buying lottery over a period to get the jackpot at the lucky time.Some gamblers quit gambling with some negative hope sometimes and loss the big opportunities.

Yes, it's true that it's very important to keep it a secret, because we will never know what's in someone's heart if we're too open, let alone announcing our victory so that everyone close to us knows, that's very dangerous, of course we will definitely be taken advantage of by other people who previously hated suddenly become good, behaved we still find it everywhere because we will never know and guess human behavior.

It is enough for people who can be trusted to be notified of winning big money, for example a wife or close family, because winning money that big will be very vulnerable to crime, wherever we are, of course, we will never be calm, crime will always be stalking us at any time, but if we hide it from people everyone, we will be safe, but if that happens to me, it's enough for me to know and I won't tell anyone, at least use the money for other investments so that the money goes around and makes a profit. 

This is also something I noticed, and it is also the same how rare it is that people can handle the money they win because most of those winners just lost it in under a year. I've seen a lot of videos and documentaries online about those lottery winners. Most of them spend it like it's unlimited because they think that they won big and it won't be gone, but again, after some time, they haven't noticed that it is getting smaller and smaller.Again, they are always saying that once you easily get the money, you also easily lose that money.

I don't really know the ins and outs of lotteries, and it seems like every country has a different method. but as you said, the lottery is not easy to win. especially, if we win the jackpot from this type of lottery betting. Of the many lottery gamblers, there are only a few who are chosen to win with very big rewards. and that luck, not all lottery gamblers can have. So, I imagined how difficult it would be to get a win from this type of bet. for example, like in the OP's story in this thread. However, lottery gambling always has a place among gamblers and is always popular almost everywhere. This is natural, because the rewards offered are not small in number. if someone gets the jackpot from this lottery, indirectly he will become a millionaire.

Well, now the problem depends on the lottery winner himself. Regarding the problem, there are those who borrow, ask, or as described in this thread. This seems like a normal thing. As there is a saying, where there is sugar there are ants. The point is, it all goes back to the winner of the lottery. If we are wise, we can save it in the bank first to make it safer. after that, to avoid unwanted things like in this discussion. protect ourselves, by limiting everyone who will interact especially those with bad intentions. there are many ways to work around this, we can even ask for legal protection if something threatens us.
Well, if only I were the one who got a surprising amount of money from the lottery. I can consult with trusted parties, we can invest, buy property, business, and so on. most importantly, the money from the lottery results doesn't go to waste.

Much easier to say mate but for the people who don't exactly have the information like we do, they tend to gamble those winnings again (but this time, as a bigtime roller) with the same mindset and hopes that they will be lucky again and the rest, in most scenario, they will spend it in things that they never had like buying expensive things that are only a liability instead of a buying an assets. But again, most people that won the lottery are the people who doesn't have any knowledge on what to do that is why in the end, they will go back to where they started and start dreaming again.

Buying a lot of tickets to increase your chances of winning a jackpot is a bad idea.  Even 30%, like in your example, it's still just 30% chance, so, it is more likely that you won't win, while you put enormous amount at stake.  When it's a progressive jackpot and all the tickets combined worth less than the jackpot you could earn some money, like it was in the case with MIT students, but it's over now.

That is the best way to go about things, however people can receive a lot of money out of nowhere due to an inheritance, winning the lottery or making an incredible investment, like investing in a shitcoin that skyrockets, and when that happens they need to realize their limitations and hire a financial manager to help them to deal with their money issues, because if they do not and they try to administer that money on their own then it is likely they will lose it all in just a few years, and there are many stories which corroborate that this in fact happens.

As long as he can find a new place where no one knows him, he will be fine living in his new place and can enjoy his winnings comfortably. And he can also stay away from people who might borrow money from him so that he won't feel annoyed by those people.

By keeping his big winnings from the lottery a secret, he could keep and use the money for himself and his family well and no one else would take advantage of it. And that's also to avoid people who have evil intentions towards him because, with that much money, there are bound to be people who want to steal his money.

greed will always nest in the human mind. I mean almost the majority of gamblers still have greedy thoughts and I guarantee that when someone who has intelligence in terms of managing their finances will be a little greedy when gambling to get a big win, lets say someone has a budget of $20 and when playing slots they are lucky to get $400, they definitely not stop immediately. betting session but he will continue his betting session to spend another at least $50 to try his luck again and that is what almost all gamblers do to this day.
and relatedly, when a gambler gets a big win but does not use the win for investment or other profitable things, it has become a habit of gamblers who have the mindset that they will definitely win again tomorrow so that the big win is used to buy something that is not useful or spend just to buy stuff that is not useful. conditions like this are also often carried out by most gamblers.

That was actually the best way to avoid commotion. This will help to stabilize the situation over time, just a few days or months people will actually forget about you winning a huge sum of money.

It is really important to keep it private if you have won a lot of money, it is for you and the security of your family. We don't know what other people will do if they will know how much money you have.

Changing places of residence might be a solution so we can avoid things we don't want. We can help them by using the money we win but we also have to know that we have our own needs that we have to fulfill, especially for our families. And that is a priority we must put before we help others even though they may also need the money.

That's why we don't need to tell other people if we have won some money. We don't mean anything and want to avoid things we don't want. People may approach us with the intention of getting something out of us. But we also have to know that we have to think about which one we can help.

That is the importance of having financial literacy, including for gamblers, because with this they can manage their finances well when betting or gambling, especially anticipating when they get an unexpected win.
And if someone wins a big win and doesn't have a good education, especially in the field of finance, then that victory will certainly cause the victory to become intangible and even quickly run out without a purpose.
In fact, this can still be overcome if the big winners are not greedy and careless by involving people they trust to manage it, such as financial service providers, wives if they already have one, or family members. And the aim is to help manage their finances well or provide advice provided they have expertise in business, investment or whatever so that the money can work.