Topic: A person who won 600k$ in lottery - page 8. (Read 2153 times)

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.

I think that in order to have a lot of money, it is necessary to have a very high financial education, because a person who has never had an education or does not even think what to do with money, what they are going to do is gradually earn money, it is obvious that he will do it because the only thing he knows is to spend, and it has been proven, many people who have won the lottery are going to spend everything, they buy big houses, big cars, they are going to travel and the money they It is earned is limited, although it may seem like a lot, but little by little it is spent if there is no control, because we as humans must think that the best thing is to multiply that money, and how? Well, doing some simple things, investing, in crypto, in bitcoin, in real estate, among other things because we as good thinking beings should know that money is an asset that goes fast, if we start spending as if we were crazy, it will They will buy unnecessary things, but for those times they will be necessary, so that is what should be avoided.

And these things are not only said by me, they are said by various financial advisors, among them one of the most famous like Robert Kiyosaki who is one of those who I consider to be the highest level in the world, so these things are very relevant when it comes to how multiply the money, in general, that is why people who are relatively poor do not worry about knowing more things, but when they see money, the only thing they do is spend, and what they should do is invest, in what they whatever, but investing, those who don't know much can invest in real estate and can do great things, so when we think about money and a lot, things have to be done so that it doesn't run out, and sometimes when you don't know anything it's good to hire to a financial adviser so that he can give us advice on how to use that money. Personally, I would buy a lot of bitcoin, as much or as necessary, and wait.

Probably these lottery winners never had the opportunity to hold high sums of money on theur hands, so once they receive a huge sum of money at once they have no idea how to manage it correctly. It's a big responsability for someone who never had any, similar to giving a child a disproportionate task compared to their mental capacities on an early age. It never ends well... I believe people should grow the money they have access gradually, so they can learn how to deal with bigger and bigger sums progressively. Sudden changes are always hard to deal with, because we aren't adapted to them.

Lottery is not very easy to win but whoever wins the lottery gets a lot from it. So if this matter is known among all, that person may be attacked to take away his huge winnings. Not only lottery, even if someone works hard and becomes the owner of huge amount of money and one can know the amount of his wealth, he has a lot of risk.  Because he can be attacked.  So it is always better to keep the financial status hidden in all cases it can be safe from all aspects. In this case, winning the lottery will not be excluded

Or we can even say that if you win a lottery then only tell it to those people whom you can share some of your winnings with.
Lets just assume that the person will ask you for a loan and only if you are willing to share some of money with him then consider letting him know about your winning.
Whether he asks for money or not is secondary but telling him about the winning should be conditional.

That will always be a trouble specially if you will not transfer a residence, not to a different country but somehow far enough without their knowledge that is still situated in your city. It will be harder for you if you stay in one place because your residence is already relevant to them, and they will always find a way towards you to seek some help even though they can handle it themselves.

Furthermore, you should also have to learn how to take a stand because that is your money and of course you need it to make your life and your family's life more comfortable. And you cannot definitely do that if you have some liabilities that aren't even needed.

That's why we must be careful about telling other people, especially those not close to us, so they don't take advantage of us. They will be happy to think we are a winner and try to worship us even though we have no idea what they mean by that. It is better for us to tell the family and make a family plan together to have one goal to improve our family.

And we also don't need to use the money excessively because we are worried that someone will suspect where we got the money from. And the last thing is maybe not to change into someone different because that will make other people suspect it and will try to find out what happened to us.

That is just the way it is, as soon as you revealed that you won the lottery then a bunch of loan request will come your way, because people think that as you did not earned that money through your hard work and won it simply by being lucky then they have the right to get some of it, and even if you were generous and loaned them the money, you can be sure they are never going to pay you back, as in their minds you do not need that money anyway as you have way more than that, so keeping your win a secret seems like a sensible choice to me.

At least here in the United States, big time lotto winners going broke is a tale as old as time. The majority of people who tend to win these lotteries aren't financially savvy individuals (typically why they are wasting money on cheap lotto tickets in the first place instead of putting their money on shitcoins or penny stocks, for example, that actually have a lot better chance at "winning") so they get the money and blow it. 

Invest, invest and invest.  If you win a bunch of money gambling..invest it people.  Have fun, but invest the majority.

As I've grown older and hopefully more wiser (or perhaps it's just cynical?), the advice that I've seen that you should not share a lottery win with friends or family looks increasingly more sensible. However it really depends on your own family situation, if you have a small and close knit family - plus win enough that you can be generous towards others without it affecting your own future, then by all means tell a few people who you may want to treat along the way. However if you win a relatively small amount and have no plans to share, it's probably better not to announce it as you'll only breed animosity. Now $600k is fair chunk of change but in some places like New York or London it wouldn't actually stretch that far in terms of buying property. However in India it's likely a revolutionary amount.

Money management would be always the key but it would really be entirely be depending on how you would really gonna treat this right since there are people who dont really mind on their spendings considering that they
had acquired or able to get that money via gambling which we know that we would really be instilling in our minds that winning again would really be just that possible and this what motivates you on playing even more because you do really believe on something which could really happen. Its true that if we do speak about lottery which once in a lifetime kind of opportunity on hitting up these amounts then it would really be just that right that you should really be needing that kind of act or be mindful on how you should gonna spend those amounts on a right way or something that worthy but if not then you would really be just basically be ending up on spending all of those amounts back into gambling and this is where later regrets do happen just because you cant really just believe that all of those money gone in a short time period and this is where you would be thinking about investment and businesses kind of act but its already too late.

I think "mostly" and "once" are contradictory to each other, but maybe it depends on the opportunity that is involved. If let say it's about winning a major prize in a standard lottery game, then it may only knock once, since we know that the odds here are crazily high. While if it's about another game and we only want to win a normal prize, luck can knock many times there as long as you play often.

Big wins are hard to forget, but I think we are forced to do it if we spend the money recklessly in unnecessary things and then we end up with nothing later on. I still believe that money ( even if it's small ) won't ran out quickly as long as you know how to budget it.

Greed will come to those who still want to double their money and are not satisfied with getting a lot of money. But if they have a good plan for managing their money, they will not lose their money in vain because they can control where they can use the money. There are even people who can do a business where the business can provide more profit so they can see a change in their life. But if they don't have any planning, they can save their money for their future and only use enough money for their daily needs.

They can use their money however they want, but they must also remember that they still have a long future, especially if they already have children. Of course, they want their children to have a better life than their parents. For this reason, those who win the lottery and can earn a lot of money must be able to manage their money, especially for their family and their children's future.

the moral lesson here is that , We must understand that Luck mostly Knocks once ,so if ever that we gather that wins then best to forget our winning and live with simple but long life.
never believe that this is forever because money can be gone in glimpse of an eye, in which many of us are already experienced ,  maybe not in gambling but in real life.
i once earned best and better weekly salary but I abused that opportunity and now? back to normal payments.
let us see how much importance of that winning because it is once in a million chance mate.

It's true, we have to start saving for the long term and everyone's needs will increase and if we already have enough savings then in the future it will be good for ourselves. And if one day we play gambling and get a big loss, of course we won't be stressed and confused about it. It's true that the best investment is real assets, but some people choose to invest in bitcoin because one day the bitcoin price is high and then sell it immediately. And I agree with you that gambling is just for fun.

And it is already too late when they realized they have done such purchases that are unnecessary.
They are enjoying the moment of their winnings, but very few are looking forward for the future.
Hence, they tend to have lavish lifestyle rather than plan for long-term survival.
Such winning amount was usually their dream to change their life, however, once they got it, they forgot what they need
to do in order to really change their path. Maybe a gambler will always be a gambler.

Not necessarily, but most of the cases that occur to someone who earns fast money accidentally. usually they will act recklessly, although not always have to. however most of the cases it does, as told by the OP in this thread. This man has been gambling for 10 years, then suddenly he got something shocking by winning the lottery. in this phase, we will experience a kind of syndromic to spend it on something that is actually not an urgency. In most cases, we will be carried away with the results we have obtained and may end up spending half the winnings we got. some others, don't know how to manage the money from the lottery results. because of the limitations of experience, insight, as well as intellectuality, gradually the winning money will disappear by itself. and this is a common problem, because they don't have a plan in their life.

As for the other version as you said, maybe greed will bring us back to gambling. whether it's lotteries, casino games and all kinds. but if someone who wins this lottery has intelligence in terms of thinking, he will try to find solutions to take advantage of the money he has won from the lottery. could be on investment, buying a house, or trying to expand into other businesses. the point is, it all goes back to how we process it. if we are smart to process it, the money can be very useful. if on the contrary, then that person will return to his original life.

I have stated this one time I believe on the same thread, though I don't know about other people, but I personally believe that the way lottery winners spend their money recklessly is due to more of a spiritual reasons than physical, I say this because with an amount as high as $600,000, I don't think the person who won this amount of money can or should ever be poor again, but we discover that the person end up using this morning on irrelevant things, spending it recklessly on useless things, things without value,  such a person is not operating in their normal senses but under the influence of some demonic powers, so whether people believe it or not, this will always be my stand on the issue of why lottery winners tend not to use the money well, there are more to the things the eyes cannot see than the things the eyes can see.

Mismanagement is something common when it comes to people who win the lottery and spend their money on nothing, I mean they're just spending it in literally bullshit. Like one could carefully consider how to use that money productively but most of them, they don't. To be honest there are many good ways to invest such earnings in projects or even in Bitcoin, rather than spending it in some stuffs that won't give you a good advantage in life.

Perhaps due to the way of easy money, gamblers tend to make impulsive purchases without thoughtful planning on how to use the funds. Consequently, they end up spending it all on items that add no real value to their lives.

Tons of lottery winners do spend out all of their money and nothing left in no time and ending up on regretting in the end just because of that mismanagement which is really that always the main reason on why people do really suffer out that kind of spending and ending up being poor again because of having that kind of impulsive feeling when it comes to spending. We do know that it isnt really that something we can deny that people or
winners are really that impulsive when it comes to dealing up with money specially if it do came from on the most easiest way which on gambling without even trying to think that hitting those jackpots arent
really that something that you could really be able to do so or really that on rare chances. You should come up with a plan on how you would be diversifying out such amount for you to be able to make some investment
and business knowing that amounts arent really that something small and it would be worth if you do set out plans which you know that those money wont really be put up into waste or becoming useless just because
you have decided on making it use all of it once back into the gambling house or betting or making on the same behavior on which chasing up for more winning but ended up miserably.