It is said that money cannot buy happiness and that if a miserable man were to suddenly gain a vast amount of wealth, he would still remain miserable.
The initial thrill of spending money on his whims may afford him the illusion of happiness, but is an illusion that is short lived – especially if he/she squanders everything from their lottery winnings and ends up poorer than he initially was.
Experts have studied the histories of past lottery winners and have discovered that an alarming number of them went bankrupt. These studies revealed that many lottery winners lacked the experience and knowledge to handle a sudden increase in wealth.Unable to cope, they mismanaged their resources till they ran dry:
• Evelyn Adams won the NJ lottery twice (1985, 1986) but was unable to save and now lives in a trailer.
• William Post won $16.2M in the PA lottery in 1988 but now lives on his Social Security
• Suzanne Mullins won $4.2M in the VA lottery in 1993 but is now deeply in debt
• Ken Proxmire won $1M in the MI lottery and within five years, filed for bankruptcy
• Willie Hurt of Lansing, MI won $3.1M in 1989 and ended up broke and charged with murder two years latter
• Charles Riddle of Belleville, MI won $1M in 1975 and had a life troubled by divorce, lawsuits and drug dealing
• Janite Lee of Missouri won $18M in 1993 and, according to published reports, only has $700 left in two bank accounts and no cash on hand.
• A Southeastern family won $4.2M in the early 90s, bought a huge house and unthinkingly kept helping family members pay off debts till nothing was left of their winnings.
If you have been awarded a personal injury settlement, and are receiving periodic payments that just don’t seem to provide the compensation you need, getting a lump sum of cash now for your future payments can be a relatively quick and painless process that may get you back in the driver’s seat of your family’s…
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“Federal Reserve Chairman Ben S. Bernanke abandoned his June assessment that the threat of an economic downturn had diminished, telling lawmakers that growth and inflation risks are increasing.”–Craig Torres and Scott LanmanBloomberg.com Your money is worth taking advantage of today! Waiting for years to go by will cost you more than you may know. Inflation,…
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Since its founding in 1993, Woodbridge Structured Funding, LLC has made consumer education a core part of its mission. Believing that well-informed consumers make better choices, Woodbridge has long been dedicated to informing current customers and potential clients about the specifics of selling structured settlements, lottery winnings, and annuities. Well known for their excellent customer…
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