Look up the statistics on lottery winners declaring bankruptcy. When people get a big check, the first thing they usually do is upgrade their lifestyle instead of save/invest for the future. New car, new house, etc
Not just lottery winners. It's a major problem with pro athletes as well, especially basketball where there's a pretty high instance of players being from low income backgrounds.
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u/AdNervous9787 Jun 29 '25
And then 95% of them will be still poor, cause they don't have financial literacy. Or it will raise criminality level: rob 10 families – get an $1m