It is, bit statistically most lottery winners have managed to burn through their winnings after something like 2-3 years. It may take slightly longer if the payout is a half billion or so (because you just can’t possibly list any price or prize in the US after taxes, that would be preposterous for reasons).
It’s just repackaged gambling. It’s designed to take money away from people who are already struggling. The organizers will never benefit from giving away finance advising and the average participant would never ask for advising.
Zorg@lemmy.blahaj.zone 4 weeks ago
It is, bit statistically most lottery winners have managed to burn through their winnings after something like 2-3 years. It may take slightly longer if the payout is a half billion or so (because you just can’t possibly list any price or prize in the US after taxes, that would be preposterous for reasons).
sugar_in_your_tea@sh.itjust.works 4 weeks ago
It turns out there’s a high correlation between people who are bad with money and people who buy lottery tickets.
It would be awesome if the lottery winnings came with complementary financial advisement by a fiduciary for the first year.
TonyTonyChopper@mander.xyz 4 weeks ago
It’s just repackaged gambling. It’s designed to take money away from people who are already struggling. The organizers will never benefit from giving away finance advising and the average participant would never ask for advising.
sugar_in_your_tea@sh.itjust.works 4 weeks ago
The organizers are the government, so surely they have a vested interest in helping their residents succeed in life…