Maybe You Don’t Really Want to Win the Lottery

In this tougheconomy, the allure of buying lottery tickets seems like apretty enticing way to erase financial problems. But newresearch shows that people who won between $50,000 and$150,000 did not solve their debt problems and onlypostponed bankruptcy.

Mid-level lottery winners did not pay off their debt orincrease equity in new or existing assets. And though thesemid-level lottery winners were less likely than smallwinners (those who won less than $10,000) to file forbankruptcy immediately after winning, they were 50% morelikely to file for bankruptcy three to five years afterwinning their prize.

Researcher Paige Marta Skiba says,

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