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Drawbacks to winning the lottery..

  1. Stacie L profile image89
    Stacie Lposted 7 years ago

    according to this article,there are 8 drawbacks to winning big...
    http://articles.moneycentral.msn.com/Sa … ?GT1=33010

    1. taxes...well that's a given..
    2.handling money becomes a second job
    3.keeping up with the Jonses...status is necessary evil
    4.no more bargain hunting
    5.strangers beg for money
    6.anxiety will take over as the stock market rises and drops
    7.you can't trust anyone
    8.security becomes an issue.

    with all the new money I'm sure life will change but I will handle it..
    how about anyone else?


    1. CRMoneysaver profile image76
      CRMoneysaverposted 7 years agoin reply to this

      1. Duh
      2. Yes but I'd prefer it to the one I have
      3. Non issue, I could care less
      4. Why the heck not????
      5. Not worried about strangers, worried about family/friends!
      6. No more than it already does.
      7. What else is new?
      8. What else is new?

  2. paradigmsearch profile image91
    paradigmsearchposted 7 years ago

    It all will depend on one’s level of maturity.smile

    1. Stacie L profile image89
      Stacie Lposted 7 years agoin reply to this

      now you're being coy...

  3. Victoria Stephens profile image74
    Victoria Stephensposted 7 years ago

    You'd never get to make any of them funky meals that taste so great. You know that ones you throw together when the cupboards are running low and you want to use up the half empty packets of stuff? Or is that just me? hehehe.xxx

  4. elayne001 profile image81
    elayne001posted 7 years ago

    ending up worse off than you were before the win due to taxes, needy family and friends and lack of financial planning - just wrote a hub about it, if you are interested...

  5. Stacie L profile image89
    Stacie Lposted 7 years ago

    i just read it ;you beta me to it.I guess the mega lottery has been in the news lately.everyone dreams of winning it big.
    I plan to stay the same person but I think it would be almsot  impossible with that amount of money and what it means to others.

  6. Wayne Orvisburg profile image74
    Wayne Orvisburgposted 7 years ago

    I think I could find a way to cope. I'd fill my time doing things I enjoy and would love to be able to just randomly give to people in need or reward someone for just being kind.

  7. Greek One profile image76
    Greek Oneposted 7 years ago

    1 taxes...well that's a given..
    --- Lotto winnings are tax exempt in Canada

    2.handling money becomes a second job
    ---- I can hire someone to do that if I win enough.. or I can just put it in savings accounts earning 1 per cent

    3.keeping up with the Jonses...status is necessary evil
    that's the case at any level of income.  I plan on buying a mansion on a big lot where I dont have to see any Joneses

    4.no more bargain hunting
    -- I'll buy a Goodwill

    5.strangers beg for money
    -- Not with my BIG security gate

    6.anxiety will take over as the stock market rises and drops
    --- wont affect my savings accounts

    7.you can't trust anyone
    --- don't do that know anyway

    8.security becomes an issue.
    --- see answer to number 5.

    1. profile image44
      momaof8posted 7 years agoin reply to this

      I would love the fact of not having to be layed off,When your boss decide it. That is one of the things i would not have to worry about. That is what happen to me a couple of days ago. Came from know were.They ask me to promise to never leave them.Over a year ago.I have work for them almost 6yrs.I told them I would never leave them.If I would ever decided to leave i would give them a 30day notice.They were so happy. work for them almost 6yrs.would not take off when i was sick.Why because they needed me..Iam hurt confuse, So if I ever get a windfall,I would do alot of good.Because I know what it feels like.God is making a way out of no way.
      I will continue to look up! God Bless!

  8. couturepopcafe profile image62
    couturepopcafeposted 7 years ago

    Seriously.  No drawbacks.

    1. KoffeeKlatch Gals profile image79
      KoffeeKlatch Galsposted 7 years agoin reply to this

      From my standpoint it looks like there are no drawback.  However, I can imagine eveyone you know or don't know coming to you with their hand out.  I can also image them becoming quite angry if you don't fill that hand with some money.  I've heard a lot about people spending all of the money and being broke within a short period of time.  Silly of them.