Sunday, January 25, 2009

On lottery winners



Chris Dillow points out that a study shows that those who won $50,000 to $150,000 in the Florida state lottery actually saw their bankruptcy rates increase 3 years after they did so. Perhaps winning the lottery encourages them to spend more - or to make risky decisions like leaving their job and setting up a new business. These risky decisions could then lead - once their luck (and the lottery money!) runs out - to them ending up having to file for bankruptcy.

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