LOTTERY WINNERS IN TROUBLE
After winning the big prize in their state lottery, a young couple suddenly found they had more money than they knew what to do with — $300,000 a year… In their early thirties with two small children, they quit their jobs and started spending. And spending… Four years later this couple was half a million dollars in debt, and knocking on the door of the financial planner who tells this story. By now, the two had realized that someday they’d be in trouble, without lottery payments or jobs to fund their retirement and children’s education. The financial planner showed them how they could spend only $120,000 a year — $10,000 a month for a family of four in an affordable area of the country. Unfortunately, the couple couldn’t stick to the plan, and each year they spent $330,000, or ten percent more than their lotto payments. But that’s not all. Their old friends couldn’t relate to their new lifestyle, their…
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