4 ms·

I am very skeptic of this theory as a lot winners of lottery’s end up in enormous debt after few years due to horrible mismanagement of their funds. Why take th

• iudqnolq 4y ago
  That's a serious issue, but I think it's mostly caused by the long-term impact of poverty both socially and neurologically. If you grow up worrying about money you often learn instincts that screw you over if you luck out. My uninformed guess underlying this is that making the payouts smaller and more frequent would solve this. First off, people would grow up in better communities. Second, I think if the payout wasn't advertised as "retire for life and be a rich person" people would face less social pressure to shower friends and family in gifts. I think given no constraints giving everyone $1,000/month is best, but I think there's a fair argument giving 1/1000 people $1000/month (and alternating) is better than giving everyone $100/month.
• Mountain_Skies 4y ago
  The "where are they now" stories have been getting more positive over the years. It seems like more of the winners are middle to upper middle class and also awareness of the curse of past lottery winners has made winners more aware that they need a plan so they don't end up penniless a few years down the road.