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Originally Posted by czarina
with 15.5 million in one sum, divided into a few CD's at 4% would be more than enough for some of them to live on after thier initial purchases. It is actually more of what they usually buy that breaks them, than what they save.
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Again, YOU know that and most of US know that but the idiots winning these things do not.
Responding to an April 2002 article in Investment News, CFP Board made an offer to the National Association of State and Provincial Lotteries to provide the organization's members with information to distribute to winners. The Investment News article highlighted the lack of financial guidance many winners receive from state lottery agencies; estimates show that nearly one-third of lottery winners become bankrupt.