Bankrupt Man Wins Lottery

from the how-long-will-it-take-to-get-back-there? dept

There’s a history of people who have won the lottery who later went bankrupt, mainly because they had no idea how to manage their money. So, you have to wonder what’s going to happen to Juan Rodriguez, a man with $0.78 in his bank account, $44,000 in debts, and a bankruptcy declaration made last month. This past weekend, though, he won a $149 million lottery prize (paid out in one lump sum, so it will be much smaller). What’s most unfortunate about this story is that it’s going to convince many people who are in money trouble that playing the lottery is a legitimate way to solve their money problems.

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