Author's Note: 10 Most Spectacular Lottery Burnouts
"If I won the lottery, I'd still work." It's a refrain I read countless times while researching this article (what people decide to do with extra money is fascinating!) and I'm sure the sentiment was most sincere at the time it was uttered. It didn't take long, though, and most soon-to-be-flat-broke lottery winners were ready for their pink slips. The winners who held on to their money seemed to hold on to their work ethic, too, parsing out their good fortune according to a budget and planning for the long-term. Would I keep working? You bet I would. But just to be safe, ask me again when I win.
- 10 Painless Ways to Save Money
- Is there an easy way to spot money-making scams?
- How much of my budget should go to charity?
- 10 Telecommuting Careers that Can Make Your Rich
- Is It Safe to Pay Bills Online?
- Atkinson, Jane. "Lotto Winner Callie Rogers on the Pain of Losing her Baby." The Sun. Sept. 29, 2012 (Jan. 3, 2013). http://www.thesun.co.uk/sol/homepage/woman/4562752/.html
- Associated Press. "Lottery Winner Accused of Murder, Spending Jackpot on Cocaine." Sept. 21, 1991. (Dec. 15, 2012) http://www.apnewsarchive.com/1991/Lottery-Winner-Accused-of-Murder-Spending-jackpot-on-Cocaine/id-44b69eea48fff3b2a931bf78d184cb91
- Carbone, Nick. "$500 Million Powerball Jackpot: The Tragic Stories of the Lottery's Unluckiest Winners." Nov. 28, 2012. (Dec. 15, 2012) Time. http://newsfeed.time.com/2012/11/28/500-million-powerball-jackpot-the-tragic-stories-of-the-lotterys-unluckiest-winners/slide/janite-lee/
- Dagnell, Andrew. "Lotto Winner Callie Rogers is Now Penniless But Couldn't Be Happier as She Prepares to Give Birth to Twin Boys." April 28, 2012. (Dec. 15, 2012) Mirror. http://www.mirror.co.uk/lifestyle/lotto-winner-callie-rogers-is-now-811064
- Danvers, Lara. "14 Ways to Keep Your Riches from Turning Back to Rags." July 17, 2011. (Dec. 15, 2012) Yahoo. http://voices.yahoo.com/14-ways-keep-riches-turning-back-rags-8815637.html
- Hankins, S., et al. "The Ticket to Easy Street?" March 26, 2010. (Dec. 15, 2012) University of Kentucky. http://www.uky.edu/~swhank2/research/lottery_bankruptcy.pdf
- Hough, Jack. "Why Lottery Winners Go Bankrupt." March 28, 2011. (Dec. 15, 2012) Smart Money. http://www.smartmoney.com/invest/stocks/why-lottery-winners-go-bankrupt-1301002181742/
- Lynch, Rene. "Michigan Woman Wins $1 million Lottery, Still Collects Welfare." March 7, 2012. (Dec. 15, 2012) Los Angeles Times. http://articles.latimes.com/2012/mar/07/nation/la-nn-na-lottery-winner-collects-welfare-20120307
- McLaughlin, Eliott. "Michigan Woman Charged with Collecting Welfare after $1 Million Lottery Win Found Dead." Oct. 1, 2012. (Dec. 15, 2012) CNN. http://news.blogs.cnn.com/2012/10/01/michigan-woman-charged-with-collecting-welfare-after-1-million-lottery-win-found-dead/
- Pridemore Amelia. "Man wanted for cashing fake checks jailed." The Register-Herald. July 27,2007 (Jan. 7, 2012). http://www.register-herald.com/local/x519083825/Man-wanted-for-cashing-fake-checks-jailed/print
- Samuels, David. "Lottery Winner Jack Whittaker's Losing Ticket." Dec. 13, 2012. (Dec. 15, 2012) Bloomberg. http://www.businessweek.com/articles/2012-12-13/lottery-winner-jack-whittakers-losing-ticket#p1
- Silver, Katie. "Michael Carroll: £9m 'Lotto Lout' Stole Sandwich and Strongbow worth £11." Feb. 17, 2012. (Dec. 15, 2012) Daily Mail. http://www.dailymail.co.uk/news/article-2102582/Michael-Carroll--9m-Lotto-lout-stole-sandwich-Strongbow-worth-11.html
- Sullivan, Erin. "For Alex Toth, Lotto Win Was Followed by Trouble." April 25, 2008. (Dec. 15, 2012) Tampa Bay Times. http://www.tampabay.com/news/obituaries/article472080.ece
- Sullivan, Patricia. "William 'Bud' Post III; Unhappy Lottery Winner." Jan. 20, 2006. (Dec. 15, 2012) Washington Post. http://www.washingtonpost.com/wp-dyn/content/article/2006/01/19/AR2006011903124.html
- Young, Emily. "Cash Windfall Can Lead to Downfall." Oct. 28, 2007. (Dec. 15, 2012) Eagle-Tribune. http://www.eagletribune.com/local/x1876402353/Cash-windfall-can-lead-to-downfall