A person who won 600k$ in lottery

[wiss19]

At least here in the United States, big time lotto winners going broke is a tale as old as time. The majority of people who tend to win these lotteries aren't financially savvy individuals (typically why they are wasting money on cheap lotto tickets in the first place instead of putting their money on shitcoins or penny stocks, for example, that actually have a lot better chance at "winning") so they get the money and blow it. 

Invest, invest and invest.  If you win a bunch of money gambling..invest it people.  Have fun, but invest the majority.

A person with a business mindset will definitely go for investing a very large chunk of the money they've won in something that they know can generate some money for them and that income stream won't just close down or cease to provide for him, and if one has a lot of money, they can create multiple streams for themselves and that will make their life easier. Even if someone wants to enjoy and have fun, they can always do that with the money they will earn from their businesses and investments.

However, a lot of people who manage to win significant amounts of money either through gambling or lotteries tend to waste that on materialistic things or just blow it away as you said, they don't make good use of the money and when the money runs out, that is when they realize what they've done.

[piebeyb]

However, a lot of people who manage to win significant amounts of money either through gambling or lotteries tend to waste that on materialistic things or just blow it away as you said, they don't make good use of the money and when the money runs out, that is when they realize what they've done.

If they still have a poor mentality, usually when they win a lot of money, of course, they will use it for something they have never bought, then they buy it, even for useless things, they will also spend money quickly without thinking about how the money should rotate, if their mentality is already rich, of course they will use the winning money to do business so that the money rotates and makes money.

I often find people like that around me, they even buy a big house but they don't think about how they are going to pay for electricity and water even whatever is in the house without any other income, that's why before gambling it is necessary to have a rich mentality because with a poor mentality it will be difficult to control finances properly.

[ethereumhunter]

Yes, it's true that it's very important to keep it a secret, because we will never know what's in someone's heart if we're too open, let alone announcing our victory so that everyone close to us knows, that's very dangerous, of course we will definitely be taken advantage of by other people who previously hated suddenly become good, behaved we still find it everywhere because we will never know and guess human behavior.

It is enough for people who can be trusted to be notified of winning big money, for example a wife or close family, because winning money that big will be very vulnerable to crime, wherever we are, of course, we will never be calm, crime will always be stalking us at any time, but if we hide it from people everyone, we will be safe, but if that happens to me, it's enough for me to know and I won't tell anyone, at least use the money for other investments so that the money goes around and makes a profit. 

We must avoid that so that no one wants to harm us just because we won the lottery. It also feels uncomfortable if there are people who will use what we have for their own interests without us knowing their intentions. To avoid things that we don't want, we should hide our winnings from the lottery and keep it to ourselves so that no one wonders about our winnings in the lottery game.

The next of kin, for example, their wife or children, must be notified because the money will be for them and their future so they can also prepare their next plans with the winning money. But they also have to be told not to tell anyone about the victory to avoid things we don't want. And don't keep the money at home because it will be more dangerous if someone overhears our conversation by going out and they have bad intentions towards our family. And the winning money should be used to invest in other things that will provide more profit.

[Vaskiy]

The incident mentioned by OP can be considered for two reasons, one for the mismanagement of money, Next thing is the kindness. Here we saw what the vegetable vendor had been agonizing, how he experienced luck and success, and finally how he turned to be a victim of being kind hearted.

Opportunity missed is missed forever. Very few get it again. When the luck knocks our door we need to be careful and have the best planning for our future. Similar incident happened in my nearby state where a tuk tuk driver got lucky to win big. He's in complete debt and was planning to travel abroad for job. By that time he got lucky and won jackpot. It was happy, but it didn't last long as he was mentally pressured by surroundings requesting for money. All of the sudden he was away and the next day he's missing which is the news on every local media. If he was kind hearted he might've experienced what the vegetable vendor experienced.

[Hirose UK]

However, a lot of people who manage to win significant amounts of money either through gambling or lotteries tend to waste that on materialistic things or just blow it away as you said, they don't make good use of the money and when the money runs out, that is when they realize what they've done.

If they still have a poor mentality, usually when they win a lot of money, of course, they will use it for something they have never bought, then they buy it, even for useless things, they will also spend money quickly without thinking about how the money should rotate, if their mentality is already rich, of course they will use the winning money to do business so that the money rotates and makes money.

I often find people like that around me, they even buy a big house but they don't think about how they are going to pay for electricity and water even whatever is in the house without any other income, that's why before gambling it is necessary to have a rich mentality because with a poor mentality it will be difficult to control finances properly.

Most people who hit the jackpot and managed to get rich must have done that kind of thing because they felt that they got large amounts of money easily and believed that one day they would get it back so wasting money was not something that was too thought considered but it was a big mistake and he would quickly become bankrupt and lose his entire fortune in an instant.
It is difficult to find gamblers who have a rich mentality or a responsible attitude or think about business to make life more stable in the future and most people are too dependent on gambling that think wins like that can come again.

It's not surprising that so many gamblers become millionaires suddenly but in a short time they return to their past lives where they were economically difficult because they were bankrupt.

[Silberman]

If they still have a poor mentality, usually when they win a lot of money, of course, they will use it for something they have never bought, then they buy it, even for useless things, they will also spend money quickly without thinking about how the money should rotate, if their mentality is already rich, of course they will use the winning money to do business so that the money rotates and makes money.

I often find people like that around me, they even buy a big house but they don't think about how they are going to pay for electricity and water even whatever is in the house without any other income, that's why before gambling it is necessary to have a rich mentality because with a poor mentality it will be difficult to control finances properly.

This happens because those people cannot think long term, most people do in fact buy the most expensive house they can afford not realizing that if you have a bigger house now you need more and better furniture, the costs of maintaining that house will be higher and it is possible the utilities will be way more expensive simply because of where the house is located, so a lot of people end up losing their houses as they never imagined all the new costs associated with it.

[Pamadar]

If they still have a poor mentality, usually when they win a lot of money, of course, they will use it for something they have never bought, then they buy it, even for useless things, they will also spend money quickly without thinking about how the money should rotate, if their mentality is already rich, of course they will use the winning money to do business so that the money rotates and makes money.

I often find people like that around me, they even buy a big house but they don't think about how they are going to pay for electricity and water even whatever is in the house without any other income, that's why before gambling it is necessary to have a rich mentality because with a poor mentality it will be difficult to control finances properly.

This happens because those people cannot think long term, most people do in fact buy the most expensive house they can afford not realizing that if you have a bigger house now you need more and better furniture, the costs of maintaining that house will be higher and it is possible the utilities will be way more expensive simply because of where the house is located, so a lot of people end up losing their houses as they never imagined all the new costs associated with it.

It should be balance but that's part of after-effect if you don't know how to manage your money, like in your situation even the lucky person can buy a new house with his winning money,.

But without a source of income, the house can become a liability as maintaining a big house needs money
to cover your expenses, you need to plan well with your money and better to make that money works
for you in terms of putting up business or investment that have potential good outcome.

[Negotiation]

Much easier to say mate but for the people who don't exactly have the information like we do, they tend to gamble those winnings again (but this time, as a bigtime roller) with the same mindset and hopes that they will be lucky again and the rest, in most scenario, they will spend it in things that they never had like buying expensive things that are only a liability instead of a buying an assets. But again, most people that won the lottery are the people who doesn't have any knowledge on what to do that is why in the end, they will go back to where they started and start dreaming again.

If the gamblers won the big money,he will buy the expensive things which was the longest wish of them.Before the jackpot he need to play many games,he don’t know when the exact time will happen.Most of the money will be used by the gamblers for the luxurious things,because it was not fulfilled because of the no money.Some gamblers will buy the assets using the winning money,because the money will become zero one day.But the assets like property can be used any time later to cash out at the needed time,many gamblers buying lottery over a period to get the jackpot at the lucky time.Some gamblers quit gambling with some negative hope sometimes and loss the big opportunities.

In fact, what gamblers will spend their winning money on depends on their own skills if they are well experienced, they will spend it on good things. I agree that many gamblers spend their money on luxuries because sometimes they can't fulfill their desires properly while gambling winnings fulfill their needs. Also when you're feeling lucky progressive jackpots these games combine with other leading online casinos to have jackpots that quickly grow into the millions of dollars it takes very little skill and a whole lot of luck to win.

[HelliumZ]

Much easier to say mate but for the people who don't exactly have the information like we do, they tend to gamble those winnings again (but this time, as a bigtime roller) with the same mindset and hopes that they will be lucky again and the rest, in most scenario, they will spend it in things that they never had like buying expensive things that are only a liability instead of a buying an assets. But again, most people that won the lottery are the people who doesn't have any knowledge on what to do that is why in the end, they will go back to where they started and start dreaming again.

If the gamblers won the big money,he will buy the expensive things which was the longest wish of them.Before the jackpot he need to play many games,he don’t know when the exact time will happen.Most of the money will be used by the gamblers for the luxurious things,because it was not fulfilled because of the no money.Some gamblers will buy the assets using the winning money,because the money will become zero one day.But the assets like property can be used any time later to cash out at the needed time,many gamblers buying lottery over a period to get the jackpot at the lucky time.Some gamblers quit gambling with some negative hope sometimes and loss the big opportunities.

In fact, what gamblers will spend their winning money on depends on their own skills if they are well experienced, they will spend it on good things. I agree that many gamblers spend their money on luxuries because sometimes they can't fulfill their desires properly while gambling winnings fulfill their needs. Also when you're feeling lucky progressive jackpots these games combine with other leading online casinos to have jackpots that quickly grow into the millions of dollars it takes very little skill and a whole lot of luck to win.

There are many gamblers who spend their winnings in betting to live a luxurious life even though he thinks that since the money is earned without any effort, he does not care about the money and lives a luxurious life and spends the betting money. If there are smart gamblers who win large amounts of money in betting, then they will at one time use the bad money to strengthen their career and life so that they do not have to participate in gambling again.

[maydna]

There are many gamblers who spend their winnings in betting to live a luxurious life even though he thinks that since the money is earned without any effort, he does not care about the money and lives a luxurious life and spends the betting money. If there are smart gamblers who win large amounts of money in betting, then they will at one time use the bad money to strengthen their career and life so that they do not have to participate in gambling again.

It is a decision each gambler makes, especially if they win a lot of money from gambling games. But if they care about their life, they will not live luxuriously on their winnings but will save most of it for their future or use it to create a business that can bring them more money. A wise gambler will do this because having a business can generate money that will be useful for his life. They will probably leave gambling because they can earn a lot of money from gambling, and now is the time to start changing their lives to be better than before and reduce their gambling activities.

[klidex]

There are many gamblers who spend their winnings in betting to live a luxurious life even though he thinks that since the money is earned without any effort, he does not care about the money and lives a luxurious life and spends the betting money. If there are smart gamblers who win large amounts of money in betting, then they will at one time use the bad money to strengthen their career and life so that they do not have to participate in gambling again.

It is a decision each gambler makes, especially if they win a lot of money from gambling games. But if they care about their life, they will not live luxuriously on their winnings but will save most of it for their future or use it to create a business that can bring them more money. A wise gambler will do this because having a business can generate money that will be useful for his life. They will probably leave gambling because they can earn a lot of money from gambling, and now is the time to start changing their lives to be better than before and reduce their gambling activities.

The thought of spending money from gambling winnings just for something luxurious arises naturally which encourages this trait to appear accidentally and for me the money that can be obtained instantly in large amounts without using much effort will definitely run out of money.
For example, a gambler wins $15k only by betting a few times after that he will buy something or use it to go on a date with a woman to have fun and he only thinks about whether tomorrow or the next day he will get another big win so he will continue to spend his money.
It is very normal for other gamblers to think like that, but if a gambler gets a big win to build a business that provides daily profits, I think the gambler is lucky to have a high level of determination and commitment and that is very rare.

[Gozie51]

These rents provided him with payments for his expenses and payments for his dues and daily needs. Through his apartment he got a source of his income and hope. This is what gave him the strength to persevere in getting up in life. He had a chance to start over and build a foundation for his future.

Only if he would learn from his mistake with the second chance he has to rise. Giving aid is good but to be a fool about it is what is bad. He is lucky to have invested in a house and that house is now a succour to him to keep start his life. He is lucky with a second chance unlike other people who would not have that other chance.

The lesson hear is that gambling winnings can be invested and utilized to become a source of another income. Don't lavish the winning you have with the hope that another winning will come but only be prudent and pragmatic with the way you give out, don't allow it to become foolishness because people will take advantage of you when they realise you are not emotionally balanced.

[maydna]

~snip~

The thought of spending money from gambling winnings just for something luxurious arises naturally which encourages this trait to appear accidentally and for me the money that can be obtained instantly in large amounts without using much effort will definitely run out of money.
For example, a gambler wins $15k only by betting a few times after that he will buy something or use it to go on a date with a woman to have fun and he only thinks about whether tomorrow or the next day he will get another big win so he will continue to spend his money.
It is very normal for other gamblers to think like that, but if a gambler gets a big win to build a business that provides daily profits, I think the gambler is lucky to have a high level of determination and commitment and that is very rare.

It would be better if a gambler could win a big win and use it to build a business that can provide even more profits. He doesn't need to try hard from gambling to win big wins anymore because he already has his own business that can make money. This gambler is indeed very lucky because he can use his winnings well to have a source of income from elsewhere. But if he uses his winning money just for fun, he can't get any benefit but will only lose his winning money quickly. He will not be able to get or have a source of income other than gambling, let alone have savings that can be useful for his future.

[Silberman]

It would be better if a gambler could win a big win and use it to build a business that can provide even more profits. He doesn't need to try hard from gambling to win big wins anymore because he already has his own business that can make money. This gambler is indeed very lucky because he can use his winnings well to have a source of income from elsewhere. But if he uses his winning money just for fun, he can't get any benefit but will only lose his winning money quickly. He will not be able to get or have a source of income other than gambling, let alone have savings that can be useful for his future.

And this is once again an example of short term thinking, if we are lucky enough to obtain important profits out of gambling then it would be a mistake to spend them all on things that we want, a part of that money should also go towards a business which can generate even more profits or it should become an investment that can eventually bring you even more money down the line, but after such a big win people are not thinking clearly and they seem to think their good luck will last forever.

[Betwrong]

It would be better if a gambler could win a big win and use it to build a business that can provide even more profits. He doesn't need to try hard from gambling to win big wins anymore because he already has his own business that can make money. This gambler is indeed very lucky because he can use his winnings well to have a source of income from elsewhere. But if he uses his winning money just for fun, he can't get any benefit but will only lose his winning money quickly. He will not be able to get or have a source of income other than gambling, let alone have savings that can be useful for his future.

And this is once again an example of short term thinking, if we are lucky enough to obtain important profits out of gambling then it would be a mistake to spend them all on things that we want, a part of that money should also go towards a business which can generate even more profits or it should become an investment that can eventually bring you even more money down the line, but after such a big win people are not thinking clearly and they seem to think their good luck will last forever.

Luck can last forever, but the probability of that is very low, so, we shouldn't count on it. I think it's a good idea to put some part of your winnings in some business, but if the amount isn't that big, just buying things you want isn't a bad idea either. Depends on you want, actually. If it's drugs or alcohol, things that can harm you, then better invest everything in business. Even if it fails you'll be in profit. Because your health is a fortune too.

[Maslate]

There are many gamblers who spend their winnings in betting to live a luxurious life even though he thinks that since the money is earned without any effort, he does not care about the money and lives a luxurious life and spends the betting money. If there are smart gamblers who win large amounts of money in betting, then they will at one time use the bad money to strengthen their career and life so that they do not have to participate in gambling again.

It is a decision each gambler makes, especially if they win a lot of money from gambling games. But if they care about their life, they will not live luxuriously on their winnings but will save most of it for their future or use it to create a business that can bring them more money. A wise gambler will do this because having a business can generate money that will be useful for his life. They will probably leave gambling because they can earn a lot of money from gambling, and now is the time to start changing their lives to be better than before and reduce their gambling activities.

As they say, those who earned money without breaking some sweat will also find themselves in the same situation where they will lose all of it without breaking some sweat.

My point is, people don't know the trouble if they found those money without any effort, just for example winning the lottery, most people will spend those winnings as if they already have unlimited money until they come to a point where they realize that it's already over for them as they spent it on useless things without providing something for their future so that they won't have the same problem again where they will hope for another winnings again.

[Westinhome]

As they say, those who earned money without breaking some sweat will also find themselves in the same situation where they will lose all of it without breaking some sweat.

My point is, people don't know the trouble if they found those money without any effort, just for example winning the lottery, most people will spend those winnings as if they already have unlimited money until they come to a point where they realize that it's already over for them as they spent it on useless things without providing something for their future so that they won't have the same problem again where they will hope for another winnings again.

If they win the big money with no sweat it doesn’t mean they loss the money with no sweat.The winner should understand it was the luck played the major role in the game.Not all the people get such luck in the gambling,So the lucky winner must do the holding the winning for certain period.The winner can convert the winning to the busines,actually it’s very hard one.But some people loss the entire money like you meantioned.Some winners will spend the money for the useless things like drinks and party to their friend.The winner should thing about their future at this stage of winning.

[CarnagexD]

As they say, those who earned money without breaking some sweat will also find themselves in the same situation where they will lose all of it without breaking some sweat.

My point is, people don't know the trouble if they found those money without any effort, just for example winning the lottery, most people will spend those winnings as if they already have unlimited money until they come to a point where they realize that it's already over for them as they spent it on useless things without providing something for their future so that they won't have the same problem again where they will hope for another winnings again.

If they win the big money with no sweat it doesn’t mean they loss the money with no sweat.The winner should understand it was the luck played the major role in the game.Not all the people get such luck in the gambling,So the lucky winner must do the holding the winning for certain period.The winner can convert the winning to the busines,actually it’s very hard one.But some people loss the entire money like you meantioned.Some winners will spend the money for the useless things like drinks and party to their friend.The winner should thing about their future at this stage of winning.

But not all the time I guess. Yes, as much as how fast you achieved it, that is also how fast you're going to lose it. But what if they have a perfect plan for which they are going to use their money? Like putting into a business or into a venture capital.

Winning the lottery is luck. Putting your win into business is now what you call "creating your own luck." They will but assets or any. Sometimes satisfy their needs. Because why not? They are still normal people anyway.

[Aikidoka]

At least here in the United States, big time lotto winners going broke is a tale as old as time. The majority of people who tend to win these lotteries aren't financially savvy individuals (typically why they are wasting money on cheap lotto tickets in the first place instead of putting their money on shitcoins or penny stocks, for example, that actually have a lot better chance at "winning") so they get the money and blow it. 

Invest, invest and invest.  If you win a bunch of money gambling..invest it people.  Have fun, but invest the majority.

A person with a business mindset will definitely go for investing a very large chunk of the money they've won in something that they know can generate some money for them and that income stream won't just close down or cease to provide for him, and if one has a lot of money, they can create multiple streams for themselves and that will make their life easier. Even if someone wants to enjoy and have fun, they can always do that with the money they will earn from their businesses and investments.

However, a lot of people who manage to win significant amounts of money either through gambling or lotteries tend to waste that on materialistic things or just blow it away as you said, they don't make good use of the money and when the money runs out, that is when they realize what they've done.

I agree. I think there are some gamblers who were lucky enough to win a huge amount of money but they end up spending it on materialistic stuffs as you mentioned and wasting it. People with a good mindset would choose to invest that money in Bitcoin or real estate to generate long-term profits instead of squandering it on things that won't yield any returns.

Being wise and patient in this situation is really important. You must make really good decisions about how to use that money before you risk losing it for nothing.

[carlfebz2]

At least here in the United States, big time lotto winners going broke is a tale as old as time. The majority of people who tend to win these lotteries aren't financially savvy individuals (typically why they are wasting money on cheap lotto tickets in the first place instead of putting their money on shitcoins or penny stocks, for example, that actually have a lot better chance at "winning") so they get the money and blow it. 

Invest, invest and invest.  If you win a bunch of money gambling..invest it people.  Have fun, but invest the majority.

A person with a business mindset will definitely go for investing a very large chunk of the money they've won in something that they know can generate some money for them and that income stream won't just close down or cease to provide for him, and if one has a lot of money, they can create multiple streams for themselves and that will make their life easier. Even if someone wants to enjoy and have fun, they can always do that with the money they will earn from their businesses and investments.

However, a lot of people who manage to win significant amounts of money either through gambling or lotteries tend to waste that on materialistic things or just blow it away as you said, they don't make good use of the money and when the money runs out, that is when they realize what they've done.

I agree. I think there are some gamblers who were lucky enough to win a huge amount of money but they end up spending it on materialistic stuffs as you mentioned and wasting it. People with a good mindset would choose to invest that money in Bitcoin or real estate to generate long-term profits instead of squandering it on things that won't yield any returns.

Being wise and patient in this situation is really important. You must make really good decisions about how to use that money before you risk losing it for nothing.

Once you do hit up these numbers or to those money that you havent been able to held up on your entire life, then for sure the primary thing that comes up into your mind is on buying the things that you've been

wanting all your life which this is likely the thing that would happen first before you would be minding other stuffs like investment or having a business. We know that money could really be that easily to spend
and if you are really that having that impulsive approach then you would really be finding yourself becoming poor once again if those funds had completely be depleted. This is why you should really be that wise when it comes to spending if you dont really be liking to finding  yourself that being poor again or in middle class. We know that $600k is already that big in 3rd world countries on which this is something that
could changed up your life completely and since this money isnt something that you could really get so easily or simply once in a lifetime opportunity then it is really jus that right that you should really be that
wise on how to make use of it well so that it wont really be coming to waste. Its not bad to buy up those things you do wish for but always be mindful on longer runs, always be having that good financial
management if you dont like on being poor again.