Successful lottery winners don't change too much

Comment #6

justxploring — Thu, 01 Feb 2007 22:38:58 GMT

Totally agree.

Comment #5

CASH Only — Thu, 01 Feb 2007 15:01:59 GMT

Obviously there are people who believe that annuity payments are better since you can't blow it all right way. But lottery ticket buyers are by law ADULTS, and should never be forced to receive their winnings other than how they would prefer (of course the overwhelming majority of winners want lump sum.) Some people still want to force their beliefs on lottery players.

Comment #4

golotto — Thu, 01 Feb 2007 02:51:00 GMT

Excellent article. I like the idea of leaning towards money market funds, certificates and government bonds.

Comment #3

DoubleDown — Wed, 31 Jan 2007 21:47:32 GMT

With the exception of the guy that went broke, I wonder if the annuity payments had anything to do with the others prudent choices in this story

Comment #2

MissNYC — Wed, 31 Jan 2007 20:32:35 GMT

I think how much you spend should depend on how much you win. Five million dollars would change my life, as would 1 million, but I wouldn't spend it nearly the same way as I would if I won a huge 300 million dollar super jackpot.

Comment #1

BevsPicks — Wed, 31 Jan 2007 11:37:14 GMT

This is one of the best informational posts I've seen yet and very touching at the end. I'm gonna use this advice when I win the Powerball. Remember you heard it hear first

Successful lottery winners don't change too much

Lottery Post — Wed, 31 Jan 2007 09:39:01 GMT

Eleven years after hitting a $1 million jackpot in the New York Lottery's 7-11-21 game, Agnes Jackman got some free advice on how to handle her winnings.

In a 1991 Money magazine cover story titled Midway Through a Million, financial planner Gary Schatsky suggested investing in money market funds, certificates of deposit and U.S. government bonds. He also told Jackman to stop spending money on lottery tickets.

She rejected his guidance.

And now, seven years after cashing her last inst... [ More ]