I felt sick to my stomach when I read this story. How can someone possibly spend this kind of money so fast? $10million dollars is a lot of money. “The Lotto Super 7 payout didn’t come with a financial adviser and before she knew it — big house, fancy cars, designer clothes, lavish parties, exotic trips, handouts to family, loans to friends — the money was gone.”
This woman is penniless and back at work.
I often tell my clients, it does not matter how much assets you have or how much money you earn, it is what you do with it that matters. This woman is living proof of it. I have clients who have big income but have little assets and are in debt. Other clients have modest income, a nice nest egg and a sound plan.
Read the article, it is worth looking at this reckless financial behavior.