Storage Units~ Stolen Tickets~ Death~ and Taxes

There are many sensational stories about lottery winners and their huge prize payments, and even bigger mistakes. There are stories of rags to riches to rags. Winning 40 million dollars buying a mansion and jewel covered cigarette cases and eight foot ceramic cats. Then, you hear about a winner in a short period of time had to move from the mansion to a storage unit. Another Lottery winner used his last five bucks on tickets won 13 million plus, then was arrested on tax fraud. While awaiting trial this winner, the accused tax evader, died. There is a story of co-workers going to court because one worker won thirty million dollars and the other worker said the ticket was stolen from his wallet. That jackpot was claimed in a one time lump sum cash payment instead of taking the annuity prize of annual payments. The attorney for the winning party received a fee of about two million dollars. Each of these winners had to have a legal representative that was paid and in at least one case the fee was substantial. Here’s a thought, maybe you should not play the Lottery and instead go to school to become a lawyer.

The moral of this story is much simpler; in life whether you win the Lottery or not it is best to do the right thing. Treat others as you would like to be treated, pay your taxes and know that any prize money is finite and will run out unless managed wisely.

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