TYT: Why It Actually Sucks To Win The Lottery

[WhoIsNumberNone]

Everyone wants to win the lottery, but what actually happens when you do win? Does money buy happiness? Ana Kasparian, Brett Erlich (Pop Trigger), Hasan Piker (Pop Trigger) hosts of The Young Turks discuss.

Do you think money buys happiness? Let us know in the comments below.

Read more here: http://thinkprogress.org/economy/2016/01/14/3739377/powerball-winners-bad-luck/

“On Thursday night, at least three people won in the drawing for the largest Powerball jackpot on record. The winners of the $1.5 billion pot are from California, Florida, and Tennessee, but results from other states are pending and more could surface.

Powerball fever gripped the country ahead of the drawing, particularly when a previous one resulted in no winners and boosted the overall pot. It’s the largest jackpot for any lottery game in the entire country.

But those lucky few who actually won — besting the one-in-292 million odds — might not end up so lucky in the end.

Landing a sudden windfall like the lottery often, counterintuitively, changes lives for the worst. The National Endowment for Financial Education estimates that as much as 70 percent of people who are abruptly flooded with cash lose all the money within several years. A study in Britain found that 44 percent of lottery winners’ earnings were spent after five years. Another of Florida lottery winners who netted up to $150,000 found that about 1 percent went bankrupt in any given year, about twice the rate of the general population, and while those who got larger pots didn’t tend to go bankrupt as quickly, it still ended up catching up with them.”

[saturnsring]

1. yea because they make the mistake of spending it

[yeoman6987]

2. I think they use emotion instead of brains

They split it up and give to family members and pay off homes and college funds and soon find out they have nothing left. Not saying not to help but if your siblings are currently doing ok then let them continue and be the back up if something were to happen and then help.