When millions of Dollars are at stake, and they’re yours, you want to make sure you do everything right. Here’s what not to do after winning the Powerball lottery. You won’t get another chance to do it over. As it goes with many important events in your life that happen, there are things you must do, and things you must not do. Let’s go on to discuss them.
Go ahead and start dreaming about what you would do if you won a major Powerball jackpot. Would you buy a private island? Have your own Dairy Queen franchise? You better decide wisely, because squandering your cash is the common plague among the newly rich.
Seeing that you’re going to come into an enormous sum of money after choosing those lucky six Powerball winning numbers, you can afford to hire someone to make smart and experienced decisions for you. Until that time, keep reading these cautionary tales about how some foolish lottery winners wasted their jackpot blessings.
Under no circumstances should you spend MILLIONS bailing your fiancé or boyfriend out of jail! Brace yourself for the love story of Marie Holmes and Lamar “Hot Sauce” McDow. The North Carolina woman won her share of $564 million from the massive Powerball jackpot in February 2015. Her share amounted to $88 million.
Since winning Powerball, she’s spent more than $20 million just on bailing her boyfriend out of jail. The first time round, she spent $3 million. Then less than a year later, he was arrested again for drug trafficking. She donated $6 million to the “Free Hot Sauce” Fund. The third time she paid $10,000, and the fourth time was the big spend. You’d think Lamar would have learned his lesson, but he tried to organize a street race which Marie ended up having to pay a fine of $12 million for. You’d also think she would know better, but who are we to say that? Love is blind.
Do not try and divorce your significant other if you’ve become a millionaire. That’s how your life will fall apart in front of your very own eyes. That’s what happened to Denise Rossi. In 1996, Denise hit it big after winning Powerball at $1.3 million in the California Lottery. A few days later, she divorced her husband. She never mentioned that she had recently won the jackpot. She had the “Take the money and run” philosophy.
The sad thing is, though, that Denise would have gotten away with the whole plan had it not been for asset disclosure laws. During her divorce proceedings, the lawyers discovered her assets. Because of that, the court gave all the winnings to her husband! Can you imagine how foolish she must have felt after that? Now, not only has she been left with nothing, but she also lost the love and trust of her husband!
Don’t allow a distant relative to harass you for cash. Etta May Urquhart was obviously ecstatic to discover she was the winner of a $51 million California jackpot. Things turned ugly when she and her son decided it would be easier if he went with her sign the ticket and claim the winnings. A year later, Etta sued her son, accusing him of stealing her portion of the money. The lawsuit reached an undisclosed settlement fee. But that just goes to show you how crazy people become over money – even family.
Don’t buy your lottery tickets late. We all know the feeling of utter disappointment when you get to the bus stop too late and it’s already left you. This feeling of disappointment is similar to that of Margit Arrobio.
The Pasadena woman bought a few Powerball tickets in 2013 when the jackpot had reached a stunning $360 million. The next morning when she was watching the news, she saw she had the winning Powerball ticket. She dreamed of owning her own Dairy Queen franchise, and that dream was now a reality!
The only problem was, it was a winning ticket technically, but not literally. He had bought the ticket exactly an hour after the cut-off time. Can you imagine the regret she must have felt? Inconsolable!
One of the most important things to remember is to claim your winnings if you do win! So many lottery winners have thrown life-changing opportunities down the toilet because of their foolish mistakes. Second-place prize for big draws also exist. Even if you don’t match all six numbers, if you match five, you are entitled to an instant $1 million.
You have the last say and the power! If you want to be the next big lottery winner, learn from all these stories, and make sure you do the right thing! Good luck, and may the odds be in your favor!