Many people dream of winning the lottery, so it is perhaps ironic that many people end up with little to show for their winnings. Statistics from The likes of the National Endowment for Financial Education, show that anywhere from 30% to 50% of lottery winners, declare bankruptcy within just 3–5 years of hitting the jackpot.
What is the biggest reasons for these stats? Apparently, the biggest “culprits” are:
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