The odds of winning millions of dollars in a lottery are very, very small, and are only slightly improved by buying a ticket. But occasionally people win. The problem is that most winners believe they are now rich, when they have little understanding of how much money it takes to live like a truly rich person. Your payout is not going to be what you were led to believe, and it can be drained really quick when you see yourself as set for life.
First, there's income taxes. Then you need to pay people to manage your money. Then you need to consider your life span and how to make a limited amount of cash last before you quit your job. This TED-Ed lesson takes a hypothetical $3 million lottery jackpot and shows how it will not make you fabulously wealthy. However, it can provide you with a comfortable life if you manage it wisely. Personally, I have managed to avoid the curse of wealth by not buying a ticket.
1 comment:
The money you use to buy a ticket has already been taxed as income tax, so your government, and I guess it is both state and federal, are double dipping.
And how come, since you are all paying income tax, sales tax, and a plethora of other taxes, your health care costs are not taken care of by the government, which is by everybody, in truth.
Seriously, you have people losing their houses, going bankrupt, because they have a debilitating condition ... how barbaric is that ?
Excuse me if I sound racist now, but I not, I am cultrurist ... here in NZ (not Nevada, dummy, look it up) ... we need to increase our population to be able to afford paying our retirees a living wage (I get that and it is lovely) but the silly people that we elected to represent us seem to kowtow to the United Nations demands more than to what our people want, and so they let hordes of people from totally different cultures move here ... people with different gods, different morals, and totally different dress.
Sorry if I harp on a bit about this, but most of us here would vastly prefer people from the United States to move here, black or white doesn't matter, as long as you speak English, don't marry girls at 9 years old, don't cut the troats of live animals while aming them face some hellhole in the Middle East, and don't expect us to have to hear your 'call to prayers' ... you'd be welcome here.
Actually I say PLEASE COME.
Your dollars nearly double and houses here, ok, ordinary ones but quite serviceable, cost around $600k, more in the big cities (for some strange reason) .. way down south you get snow in winter, but never bad, way up north you get summer 10 months a year.
So maybe if you do win the lottery, and your ever loving government takes half of it, move here and the amount you won to take home will double back and you can come live here in peace and happiness.
Although we do drive on the other side of the road.
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