The Lottery's RICH to BROKE Pipeline

🎥 More about this video:
“If I won the lottery…” It’s always fun to daydream about hitting the jackpot. And a lucky few actually get to live that dream! But for some of those blessed and highly favored winners, those dreams can easily turn into a nightmare with just a few poor financial decisions. So what does it take to flip your luck completely upside down? Let’s talk about the pitfalls of sudden windfalls and what wisdom we can take away. We may not all become millionaires, but there’s always a lesson or two to be learned when it comes to money.

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Time Stamps:

1:28 Chapter 1: Falling into the lottery to broke pipeline?
5:38 Blueland
9:10 Chapter 2: The Lottery Curse
11:16 Chapter 3: Lottery Lessons

Keywords for some sweet, sweet metadata:
Personal finance, money management, deinfluence, deinfluencing, budgeting, budget, credit card, debt, culture, hauls, video essay, video analysis, social media, tiktok, instagram, Pinterest, materialism, overconsumption, consumerism, climate change, shopping, spending money, viral, influencers, cara nicole, money mistakes, investing, investments, retirement, saving, lottery winner, financial mistakes, money mistakes

[sprint]

There's a nice couple in my town who won the lottery. They were given a few million dollars years ago. Their biggest mistake was buying a huge house. It costs thousands of dollars of upkeep a month. They're middle class living in a rich person's home but they very well could lose it because of property taxes. They've managed to keep it by using the rest of their winnings, but their income can't keep up with the loss. It will be very difficult to sell the house too because few people around here can afford it. I think it's worth around 2 million.

[anl]

If you don't know how to deal with money when you're poor, you will not know how to deal withmoney when you're suddenly rich

[Vandebirt]

This is where “Stealth Wealth” mentality comes into play… I understand that lottery winners have to be publicly announced in certain states but nevertheless just keeping things to a minimum seems to be the way.

[Mornings]

Almost as if playing the lotto is a bad financial choice which means most people who win will be bad with the money LOL

[eliasmaissour]

My toxic trait is that I fantasize this happening and how I'll be the perfect winner 😂

[designthedays]

Financial literacy won't solve poverty but it is a prerequisite towards living a better life.

Case in point being in this video.

[alwaysemilia]

The traits most commonly associated with the majority of lottery players probably correlate to those less likely to successfully manage the winnings. Who is surprised to see a lottery winner blow it all gambling?

[meko]

Maybe you could do a case study of two child stars, one who ended up ok (like Frankie Munoz) and then one of the ones who didn't and compare the bad financial decisions they made

[Sayu]

I think it's important for people to understand and admit that money will change them. The how and the extent is manageable once you realize this. I mean, I found $20 I had stashed away and my first instinct was to treat myself to takeout 🤷‍♀️ that moment made me realize that having money would absolutely change me, no doubt about it

[kenzieb]

Hey I like this video! Gets my focus away from the trends on tiktok and celebrity plastic surgeries for 14 minutes!

[Mainlychesscontent]

Good example of why building wealth is so hard

[besugarb]

THIS is such a strange thing for me: the non anonymity in some states. Scandinavia and europe lottery winners stay MOSTLY anonymous when winning. We get to choose. its just makes sence to get to protect yourself automatic and not having to come out to a whole country about winning perverse amount of money🤷🏾🤷🏾

[nicka]

I already won the lottery. I was born in the US of A, baby. And as a backup I have a Swiss passport.

- Creed

[RockStock]

Theres a documentary called Broke that deep dives into this subject mostly revolving around athletes

[Scarletcroft]

My emotional triggers cause me to save more money. Spending money hurts me mentaly my precious numbers are going down instead of up, thats my emotianal response). Spending requires me to bargain with my hoarding dragon self. If I suddenly get rich I will need to learn that it's ok spend a bit more. But i'd still feel what I call spending
You could say i've grown up with a accumulating/hoarding mindset. (with regards to money)
By chinese astrology I'm actually a always say it explains alot (even if I know astrology is mostly meaningless I like the symbolism, it at least affirmed some of my traits)
Be it a westen dragon or a chinese dragon it explains parts of my personality.
And this year also being the year of the dragon(2024). I'm focusing extra on my finances to ensure prosperty in the future.

[-natmac]

Saving this video to watch five more times. Just learned I might inherit a life changing sum of money that I was unaware was coming to me. I grew up poor and have ADHD so that’s a recipe for mismanagement. I’m very good with money now, but will be scheduling an appt with an advisor so I can get advice with the emotions of the situation removed.

[CrazyMama]

Regarding the child star vid title maybe something like "childstars: how early adultification impacts welfare, development and mental health"

[janisir]

It's so easy to not be broke when you have money, just don't change your life too much.

[MissFussbudget]

For your next video's title, how about "Money Isn't Child's Play"?

[coreyw]

I was very fortunate enough to be given a descent inheritance and im absolutely terrified to spend it too quickly. Ive been trying to lock it up essentially. Im really good with money, even all my years of low wages. But still with this amount it can be scary to know what's best