Many Lottery Winners Blow Their Fortunes Quickly

Many Lottery Winners Blow Their Fortunes Quickly.
The problem with coming into a lot of money very quickly is that it took no discipline to get it. It's free money, and because of that, it's not always shown the respect of earned money. Another problem is a lack of knowledge of basic financial principles by the winners. $15 million seems like an unspendable amount of money, but these days it's not. It should last a lifetime with careful investment, but start buying houses, cars, yachts, and party nights, and you could see that fortune crumble in just a few years. Michael Carroll, a garbage man in the UK, did just that. He won around $15 million at the tender age of 19, and eight years later he'd blown it all and was back on the garbage truck again.