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I suppose lottery winners are good at accumulating wealth too.
by jere 8y ago
I suppose lottery winners are good at accumulating wealth too.
- phyller 8y agoYou actually strengthen basementcat's point. There have been many stories about how lottery winners often end up worse off than they were before. Handing someone 100 million dollars won't keep them rich if they are bad at handling money. Apparently this is proven by research of lottery winners: https://www.mitpressjournals.org/doi/abs/10.1162/REST_a_00114#.VpLMM1J327Q https://www.mitpressjournals.org/doi/abs/10.1162/REST_a_0011... and https://www.usnews.com/news/articles/2016/01/12/odds-are-15-billion-powerball-winner-will-end-up-bankrupt https://www.usnews.com/news/articles/2016/01/12/odds-are-15-...
- ItsMe000001 8y agoThat does not strengthen that point, quite the opposite, one might argue: People who were never exposed to having money to begin with don't know what to do with it. Having money from the start (rich parents) gives you a head start.