Wednesday, September 2, 2009

The Lottery Curse

How could winning millions of dollars be a curse? It's true. What is a tremendous blessing has often turned even tragic.

Winner's lose their minds or have no sense of investing for the future. Greed takes over like a disease. It infects and spreads. Not just for the winners but immediate relatives. Jeffrey Dampier, a $20 million winner, was kidnapped and murdered by his own sister-in-law.

A 16 year-old girl won $3 million six years ago which has dwindled down to $32,000. The story of Callie Rogers is typical of many winners not just a very young winner.

Often in social circles or at the watercooler when the jackpots are at stratosphere amounts, people talk about what the would do with the money--travel around the world, buy new house, fancy cars and donate to charity and help our family.

That's what Jack Whittaker did for his granddaughter Brandi and renovated a $5 million dollar home for her and her mother. Then his generosity surpassed common sense. He gave his 17 year old granddaughter and allowance of $2,000 A WEEK! Eventually Brandi attracted new "friends" and started using drugs. She died of a drug overdose. Jack now wishes he never won. To watch the interview, CLICK HERE.

1- Keep quiet if you win. Don't go on the news or hold the jumbo check. Only let your spouse know. Otherwise you will be hounded for life and never enjoy a normal life with people approaching you only for your money. The life of a celebrity is not all fun and glamorous. This is the ugly side.

2- INVEST, INVEST, INVEST. Use the money to generate a continual income stream. If you don't know a dime about investing, just purchase a "Investing for Dummies" book at your local bookstore. It's not that difficult. Just start with the basics.

3- If you choose to donate to an organization or relatives, establish a trust or foundation so you can make "anonymous" donations. Again, this is to avoid avarice vultures.

4- Don't forget where you came from. Continue to go to church or start attending a faith-based program to stay grounded. I think this is the most important.

Honestly, I rarely play the huge jackpot lotteries. I'd rather dabble in the smaller games with smaller payouts. I would be ecstatic with just $10,000--the chances are much better--but then again, I know I can make that money stretch and regenerate!

What would you do if you won the lottery? Share it by posting a comment below--you can remain anonymous or use a code name!