If you win the jackpot, what would you do in order not to go broke or bankruptPrev Topic Next Topic

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Tone43

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Aug 20, 2026, 3:18 pm

Frequently cited estimates claim that about 70% of lottery winners go broke or face severe financial distress within a few years, while more conservative figures suggest roughly one-third (33%) eventually declare formal bankruptcy. However, financial researchers note that the exact 70% figure is an informal estimate lacking rigorous scientific backing.

what strategy do you have
if you win a jackpot
in order not to go broke or bankrupt
Tone43

Los Angeles California
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Aug 20, 2026, 4:31 pm

I personally would make friends with other jackpot winners and start a support group in order not to go crazy and spend everything I have
hearsetrax

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Aug 20, 2026, 4:58 pm

for me,
it'd be about surrounding myself with positive people and starting each day bright eyed & a smile that creeps other people out
Stat$talker

Stat$talker

700 light yrs West of Milky Way Galaxy's Center
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Aug 20, 2026, 5:15 pm

"lottery winners go broke or face severe financial distress within a few years"
1st, git that pesky relative "UnClE $aM" outta my hair..
Spread the remainder out in a diverse Investment portfolio,..live & donate off the interest...
Ingrain in my head that some thangz are still ..
UNA400.RDABLE

-Stat$talker
Coin Toss

Zeta Reticuli Star System
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Aug 20, 2026, 9:28 pm

hearsetrax, Sadly some of those positive people would be positive about putting the bite on you.
Brock Lee

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Aug 20, 2026, 11:36 pm

Quote: Originally posted by hearsetrax on Aug 20, 2026
for me,
it'd be about surrounding myself with positive people and starting each day bright eyed & a smile that creeps other people out

do some weird throat noises to go along with the creepy smile, maximum effect.

"don't believe everything you read on the internet." -- abraham lincoln

"abraham lincoln is a liar." -- william shakespeare
Stack47

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Aug 21, 2026, 12:51 am

Quote: Originally posted by Tone43 on Aug 20, 2026
Frequently cited estimates claim that about 70% of lottery winners go broke or face severe financial distress within a few years, while more conservative figures suggest roughly one-third (33%) eventually declare formal bankruptcy. However, financial researchers note that the exact 70% figure is an informal estimate lacking rigorous scientific backing.

what strategy do you have
if you win a jackpot
in order not to go broke or bankrupt

"the exact 70% figure is an informal estimate lacking rigorous scientific backing."
Sort of like jackpot envy when people that probably never cashed a $500 pick 3 straight thicket that have advice on what a huge jackpot winner should do. However there are several examples of jackpot winners like Whittaker and Edwards that did lose most or all of it.
With large jackpot odds of almost 300 million to 1, it's probably better to make plans on how to spend a $600 windfall.

"Some people have something to say while other people feel the need to say something"
noise-gate

* In hot pursuit of $ *

White Shores- California
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Aug 21, 2026, 1:35 am

Quote: Originally posted by Stack47 on Aug 21, 2026
"the exact 70% figure is an informal estimate lacking rigorous scientific backing."
Sort of like jackpot envy when people that probably never cashed a $500 pick 3 straight thicket that have advice on what a huge jackpot winner should do. However there are several examples of jackpot winners like Whittaker and Edwards that did lose most or all of it.
With large jackpot odds of almost 300 million to 1, it's probably better to make plans on how to spend a $600 windfall.

* That sounds about right.👌

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
Tone43

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Aug 21, 2026, 10:14 am

The point that I was trying to make is that when people win a jackpot, they become overwhelmed with that amount of money , and pretty difficult to calm yourself to get common sense on how to handle that sort of money
hypersoniq

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Aug 21, 2026, 10:25 am

First thing, stats is right on this one... deal with the taxes. Know how much you are really working with before spending a dime.
Second is FDIC insurance, your bank account only offers FDIC insurance well under the amount you would be depositing... enter the IntraFI network... they have 2 programs that can work together to make sure you are fully insured AND help curb the spending impulses... first is intrafi cash... this creates multiple accounts at multiple banking institutions that you have immediate access to, put 30% in this program. The other is intrafi CDARS this does the same thing over multiple banks but with certificates of deposit... 70% here is a realistic do over if you blow the 30% cash portion. Works like regular CDs, then you just harvest the yields. No investments, no scam risks. Your entire windfall is 100% FDIC insured.
With the 2 biggest potential risks mitigated, you can still enjoy the windfall without going crazy. At 20 I would have wanted a Ferrari, pushing 60 I would not want one even if I had the means.

Have an EXCELlent day!
Linterna

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Aug 21, 2026, 10:55 am

Some people would want your money so you have to be careful, so might even have to be careful of your family, not all people are good people, some people do evil things for money, power and to own things, including to own people, the money should be put in safe keeping in some good way or ways and there should be safe guards, because some people would want to separate your money from you, even your life might not be safe, maybe the fewer people who know that you have money, the better, the best thing would be that you are the only person who knows, but I don't see as to how that would be possible and many or people do not keep their mouth shut, before long every body will know that you have a lot of money, for one thing the money has to be put, kept somewhere and the people were the money is kept will know and there is no reason as to why they would not tell everybody and the people who gave you the money will also know and again there is no reason for them not to tell everybody about it, people might try all kinds of things and ways in order to separate you from your money, they might even run in front of your car when you are driving, inside your house they will fall and then sue you, they might try to start a fight with you and then said that you started the fight and sue you, if anybody gets food or drink(s) from you they will sue you saying that your food got them sick and or that you poisoned them, they will put something on the food and or in the drink, some relatives of yours might want you to go to Heaven as soon as possible so that they can try to get some of your money and they might try to help you go to Heaven, even body guards might want to try to get your money
hearsetrax

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Aug 21, 2026, 11:37 am

Quote: Originally posted by Linterna on Aug 21, 2026
Some people would want your money so you have to be careful, so might even have to be careful of your family, not all people are good people, some people do evil things for money, power and to own things, including to own people, the money should be put in safe keeping in some good way or ways and there should be safe guards, because some people would want to separate your money from you, even your life might not be safe, maybe the fewer people who know that you have money, the better, the best thing would be that you are the only person who knows, but I don't see as to how that would be possible and many or people do not keep their mouth shut, before long every body will know that you have a lot of money, for one thing the money has to be put, kept somewhere and the people were the money is kept will know and there is no reason as to why they would not tell everybody and the people who gave you the money will also know and again there is no reason for them not to tell everybody about it, people might try all kinds of things and ways in order to separate you from your money, they might even run in front of your car when you are driving, inside your house they will fall and then sue you, they might try to start a fight with you and then said that you started the fight and sue you, if anybody gets food or drink(s) from you they will sue you saying that your food got them sick and or that you poisoned them, they will put something on the food and or in the drink, some relatives of yours might want you to go to Heaven as soon as possible so that they can try to get some of your money and they might try to help you go to Heaven, even body guards might want to try to get your money

paranoia is both a good thing and a bad thing, especially if you let it run your life
CDanaT

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Aug 21, 2026, 11:43 am

Thanks for the IntraFI network info hypersoniq.... Something for me to take a gander at..... Of course this depends on how much I net. Should we be considering a $50 - $70 million take home or are we talking $5-7 Million ?? Ensuring a safe investment portfolio getting a return of 3.5% would be more than sufficient. Age and years left on the planet are the big consideration. What would be a reasonable amount to live off ?? Perhaps $150 - $200K per year for the next 25 - 30 years would probably take care of things. But, continuing with investing in physical Gold & Silver and perhaps some palladium, would be a definite. Where the house(s) and toys are already paid for. There really isn't much else to be concerned with. CDARS is a sound option. Large Safety Deposit box at multiple facilities with cash can't hurt either.

Pick a lane, master that lane, and stay in it. Firearms are second only to the constitution in importance, they are the people's liberty's teeth.
Stack47

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Aug 21, 2026, 4:37 pm

Quote: Originally posted by Tone43 on Aug 21, 2026
The point that I was trying to make is that when people win a jackpot, they become overwhelmed with that amount of money , and pretty difficult to calm yourself to get common sense on how to handle that sort of money

It's not "one size fits all" and unless the winner already has an accountant, lawyer, banker, and a broker, it's probably better to not make huge expenditures. Read where many people say they will "put together a team of experts" without having a clue of what each of their experts are going to do. IMO the best advice I read is to know the tax liabilities and set aside that amount and be prepared to pay on or before April 15.

"Some people have something to say while other people feel the need to say something"
Tone43

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Aug 21, 2026, 6:53 pm

There are some people who win the jackpot that has never experienced that amount of money at one time ever in their life
so for them to think about legalities is beyond them
it's almost tragic if you think about it