kaudrey said:I think they do a NPV calculation or something...
Corporateburnout said:He was featured on a TV show "curse of the Lottery" with numerous other jackpot winners who failed to manage their winnings wisely. This other guy from Texas shot himself dead and a few others blew all their winnings while ruining their lives.
This Whittaker guy was robed twice when he left a suitcase with a half a million dollars in cash in his parked SUV........ Talk about stupid. The lottery commission should have assigned him a guardian before they gave him the money........
Oldbabe said:There's interesting theories about this. One is that unless people change their self-image they will always revert to the mean, i.e. how much money do I deserve to have? If they feel that they deserve to live a wealthy lifestyle, and believe they are meant to be wealthy but are temporarily poor then winning the lottery will give them a chance to do the things they were meant to do, whatever that is. But if they are living hand-to-mouth and have a scarcity mindset, then winning the lottery will become an uncomfortable experience and they will subconsciously do things to go back to a lifestyle that they are more in sync with, i.e hand-to-mouth.
I doubt it has much to do with being educated in personal finance or how to handle money. That would be the easy part. The psychological part is the deep, twisty area.
By that logic I'm still about nine figures short of achieving my potential.Oldbabe said:There's interesting theories about this. One is that unless people change their self-image they will always revert to the mean, i.e. how much money do I deserve to have? If they feel that they deserve to live a wealthy lifestyle, and believe they are meant to be wealthy but are temporarily poor then winning the lottery will give them a chance to do the things they were meant to do, whatever that is.
I doubt it has much to do with being educated in personal finance or how to handle money. That would be the easy part. The psychological part is the deep, twisty area.