From Gain to In Vain: Why Lottery Winners Go Broke
Imagine you’re seated on the hot seat at Kaun Banega Crorepati when you hear Amitabh Bachchan yell out “SATH CRORE”. You would feel elated, but imagine all that money without possessing any skill. Doesn’t that feel better? So, you pick up the winning lottery ticket (after several duds). With all the money, you would be able to indulge in lavish spending that you otherwise never would’ve thought of. You may think that this big win has set you for life, but unlike your answers at KBC, you’re wrong. The 7-crore sum is a ton of money, but it isn’t a perpetual cheque. The money runs out eventually. And it leaves you in financial ruin, worse than before you ever got the money. This isn’t a scare to stop you from trying out your luck, but many sources believe that almost 70 per cent of windfall winners eventually go bankrupt. This situation is a lot like an oxymoron. Complete opposite concepts coming together: A broke lottery winner . Someone lucky enough to get so much yest...