Yeah, Right, Whatever

I'm not going to crack many (if any) jokes about this. It's just sad.

WINNIPEG — Seven years ago, Gerald Muswagon was all smiles as his troubled life took a fairy-tale turn by winning a $10-million lottery jackpot.
On Sunday, Muswagon hung himself in his parent’s garage.

It was a shocking end for a man who appeared to have the world at his fingertips, yet clearly never could grasp the instant fame and fortune he was handed through his lucky $2 Super 7 ticket.

‘‘People are very upset, and this is all very surprising,’’ said his cousin, Mike Muswagon. ‘‘But he had been very depressed lately, although he kept that part of him well hidden.’’

Muswagon, 42, somehow managed to do what seemed unthinkable and spent nearly every penny of his winnings in only a few years.

Unlike these people, I don't think this is unthinkable. Unfortunately, this is not unique (ok... the committing suicide part is... not the going broke part).

From just one article:

• "Winning the lottery isn't always what it's cracked up to be," says Evelyn Adams, who won the New Jersey lottery not just once but twice (1985, 1986) to the tune of $5.4 million. Today the money is all gone and Adams lives in a trailer.
• William "Bud" Post won $16.2 million in the Pennsylvania lottery in 1988 but now lives on his Social Security.... Now he lives quietly on $450 a month and food stamps.
• Suzanne Mullins won $4.2 million in the Virginia lottery in 1993. Now she's deeply in debt to a company that lent her money using the winnings as collateral.
• Ken Proxmire was a machinist when he won $1 million in the Michigan lottery. He moved to California, went into the car business with his brothers and within five years, Ken had filed for bankruptcy.
• Willie Hurt of Lansing, Mich., won $3.1 million in 1989. Two years later he was broke and charged with murder. His lawyer says Hurt spent his fortune on a divorce and crack cocaine.
• Charles Riddle of Belleville, Mich., won $1 million in 1975. Afterward, he got divorced, faced several lawsuits and was indicted for selling cocaine.
• Missourian Janite Lee won $18 million in 1993. Lee was generous to a variety of causes, particularly politics, education and the community. But according to published reports, eight years after winning, Lee had filed for bankruptcy with only $700 left in two bank accounts and no cash on hand.

Then there is this startling stat:

In fact, up to 80% of the lottery winners in this country file bankruptcy within five years.

Yikes. Why? What causes people to seemingly "get it all" and then lose it? Gross stupidity? Greed? Naivete? Simple lack of planning? All of the above?

Is it going to happen again? The Mega Millions jackpot is up to an estimated $310 million. Today millions of people will stand in line and purchase their shot at the good life. Some of them have a plan, some don't. Some of the people who bought their tickets would be reasonably responsible with their winnings... some, like the poor folks mentioned above, will blow it all. (Although blowing through $310 million would take talent.)

Me? Yeah. I bought some tickets. I won't be like 80% of the winners (yeah... you've heard that before, right?) Yes, I have a plan. Some of that plan is quite responsible-go through the financial education program on this guy's site, and hire a financial advisor, college accounts for the boys, pay off debts, reasonably secure investments. Other parts of the plan- not so much of the responsible stuff. Flying first class ('cause my back would appreciate the thought), designing a home... who knows what else. And, no... I'm probably not telling many people. I still want to lead a reasonably modest life- telling everyone and having everyone ask for handouts or their share is not in the game plan. (I never said that I wouldn't be charitable or generous to friends/family... I'm just saying that sticking your hand out is the easiest way to NOT get anything.)

*Sigh* A girl can dream, can't she?