
Odds are $1.5B Powerball winner will end up bankrupt - dsr12
https://theconversation.com/odds-are-1-5-billion-powerball-winner-will-end-up-bankrupt-52972
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petra
Very light on actual research.

For example, there's this literature review , which says: "Contrary to the
myth that a big lottery win will ruin the winners’ lives, lottery winners tend
to be well-adjusted and their life quality seems to improve."

[http://walkerd.people.cofc.edu/360/AcademicArticles/LotteryR...](http://walkerd.people.cofc.edu/360/AcademicArticles/LotteryReviewJGS.pdf)

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Recurecur
You'd really have to be clueless to go bankrupt after a big lotto win.

For any of the three lucky winners, here's my suggestion:

Let's say you won $160 million. Take 5% off the top, so that's $8 million, and
invest the rest conservatively with a target appreciation of 5% per year (get
a GOOD financial advisor).

Your goal is to live for five years on the $8 million. Let's say you spend $4
million in the first year on a nice new house/estate, pay off all your debts,
and buy a few toys like cars. That leaves you with a $1 million a year budget
for the next four years - which should be plenty even including around the
world vacations etc.

If you've hit your 5% investment goal, your nest egg is now worth $193 million
- $33 million more than you started with. Now, take $15 million for your next
five years - you've got a $3 million a year lifestyle now (though you will
have to pay some tax on that for long-term capital gains). That left $178
million in your account. After the next five years, it's worth $228 million.
And so on...

