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What percentage of lottery winners will go broke within five years of winning the jackpot?

Topic closed. 14 replies. Last post 3 years ago by ca-dreamin*.

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Bondi Junction
Australia
Member #57242
December 24, 2007
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Posted: August 7, 2011, 11:10 pm - IP Logged

The above question was on, "The Lottery Changed My Life", tv program.

 

The answer was 33%.

 

I assume that number was for the US only. I bet the percentage for the UK and Australia is much lower, which I put down to anonymity. It is very rare to read about lottery winners in Australia. All winners have the right to anonymity and the vast majority choose it.

We all get a lot out of lotteries!

    shirbird's avatar - oliana
    spout spring va.
    United States
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    Posted: August 7, 2011, 11:55 pm - IP Logged

    your right you dont hear any thing about australia but i thought that the % would be higher for the us.

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      United States
      Member #111190
      May 20, 2011
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      Posted: August 8, 2011, 12:02 am - IP Logged

      Holy Smokes -  I better be careful! Sun Smiley

      33 % .. That's bad news!

      Blowin' all that cash away...

      MmmMmm..

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        Bondi Junction
        Australia
        Member #57242
        December 24, 2007
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        Posted: August 8, 2011, 12:48 am - IP Logged

        On the program, on guy, who was only 18 when he won, got into a property deal that went wrong. He said, "where I grew up, a man's word was his bond". Well, not when you are talking about millions of dollars, you need everything nailed down.

        We all get a lot out of lotteries!

          CajunWin4's avatar - Lottery-031.jpg
          Atchafalaya Basin
          United States
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          April 24, 2010
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          Posted: August 8, 2011, 1:30 am - IP Logged

          Money is the root of all evil !!!! People have ploted and killed lottery winners and several lottery winners let the money control them , instead of the controlling the money. Since , Obama s***d us over will his failed economic recovery 1 and 2 , Obama Health Care Plan , Cash for Clunkers and Shovel Ready Jobs . These are just a few of the many failers of the Obama Adminstration . Just look how many of his cabinet quit  and all the Czars he needs to help him run our country.

              The Great Country we all know and love is going into a Great Great Depression due to the Wall Street Crash just like the one that stated the Great Depression of Oct. 1929 .So , foreget about money China wiil not Loan the U.S.A any more money .We are at AA+ RATING  and the S & P will be down grading us again . The S & P is giving the U.S  a 1 and 3 chance our rating will drop even lower. If you do win a Power Ball or Mega- Millions jackpot your money will be use less..

            hearsetrax's avatar - 78638c467ef281febf24383e126f74b6

            United States
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            May 21, 2007
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            Posted: August 8, 2011, 6:44 am - IP Logged

            Money is the root of all evil !!!! People have ploted and killed lottery winners and several lottery winners let the money control them , instead of the controlling the money. Since , Obama s***d us over will his failed economic recovery 1 and 2 , Obama Health Care Plan , Cash for Clunkers and Shovel Ready Jobs . These are just a few of the many failers of the Obama Adminstration . Just look how many of his cabinet quit  and all the Czars he needs to help him run our country.

                The Great Country we all know and love is going into a Great Great Depression due to the Wall Street Crash just like the one that stated the Great Depression of Oct. 1929 .So , foreget about money China wiil not Loan the U.S.A any more money .We are at AA+ RATING  and the S & P will be down grading us again . The S & P is giving the U.S  a 1 and 3 chance our rating will drop even lower. If you do win a Power Ball or Mega- Millions jackpot your money will be use less..

            Twitch

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              Bondi Junction
              Australia
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              Posted: August 8, 2011, 10:37 pm - IP Logged

              Money is not the problem, it is how we use or misuse it, that is the problem!

              We all get a lot out of lotteries!

                tiggs95's avatar - Lottery-036.jpg

                United States
                Member #47420
                November 4, 2006
                3930 Posts
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                Posted: August 8, 2011, 10:44 pm - IP Logged

                Holy Smokes -  I better be careful! Sun Smiley

                33 % .. That's bad news!

                Blowin' all that cash away...

                MmmMmm..

                Just stay away from certain hillbillies and you'll be ok...

                                                                          Pure luck

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                  United States
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                  May 20, 2011
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                  Posted: August 8, 2011, 10:53 pm - IP Logged

                  Money is not the problem, it is how we use or misuse it, that is the problem!

                  Yes Nod  Truth

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                    United States
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                    Posted: August 8, 2011, 10:57 pm - IP Logged

                    Just stay away from certain hillbillies and you'll be ok...

                    Sounds like a Winner tiggs..

                    I'll just stay up here in the north state and 'chill'.. Cool

                      tiggs95's avatar - Lottery-036.jpg

                      United States
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                      Posted: August 9, 2011, 12:43 pm - IP Logged

                      Sounds like a Winner tiggs..

                      I'll just stay up here in the north state and 'chill'.. Cool

                      Sounds like a winner to tiggs..Stay out of Tenn with your money and you'll do just fine..Good luck Cash$$$$$$...tiggs likes your style..

                                                                                Pure luck

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                        United States
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                        Posted: August 9, 2011, 9:38 pm - IP Logged

                        Sounds like a winner to tiggs..Stay out of Tenn with your money and you'll do just fine..Good luck Cash$$$$$$...tiggs likes your style..

                        Will do.. &  Good Luck to you too, tiggs..

                        $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ Yes Nod $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

                          haymaker's avatar - Lottery-012.jpg
                          egg harbor twp.south jersey shore
                          United States
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                          June 29, 2011
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                          Posted: August 9, 2011, 9:45 pm - IP Logged

                          Money is the root of all evil !!!! People have ploted and killed lottery winners and several lottery winners let the money control them , instead of the controlling the money. Since , Obama s***d us over will his failed economic recovery 1 and 2 , Obama Health Care Plan , Cash for Clunkers and Shovel Ready Jobs . These are just a few of the many failers of the Obama Adminstration . Just look how many of his cabinet quit  and all the Czars he needs to help him run our country.

                              The Great Country we all know and love is going into a Great Great Depression due to the Wall Street Crash just like the one that stated the Great Depression of Oct. 1929 .So , foreget about money China wiil not Loan the U.S.A any more money .We are at AA+ RATING  and the S & P will be down grading us again . The S & P is giving the U.S  a 1 and 3 chance our rating will drop even lower. If you do win a Power Ball or Mega- Millions jackpot your money will be use less..

                          cajunwin4

                          money is not the root of all evil.

                          "love of money is the root of all evil"

                          and you can quote me.

                          Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

                            ca-dreamin*'s avatar - Lottery-065.jpg
                            Chicago
                            United States
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                            February 8, 2009
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                            Posted: August 10, 2011, 7:57 pm - IP Logged

                            cajunwin4

                            money is not the root of all evil.

                            "love of money is the root of all evil"

                            and you can quote me.

                            And I'll second that : )

                            Just get me thru this so called life......

                              ca-dreamin*'s avatar - Lottery-065.jpg
                              Chicago
                              United States
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                              February 8, 2009
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                              Posted: August 10, 2011, 8:00 pm - IP Logged

                              Just stay away from certain hillbillies and you'll be ok...

                              LOL the Master spends all his time hidin' out...no need to worry about him spendin' all the money. On the other hand...the jokers harem might go through the money real quick haha!

                              Just get me thru this so called life......