What are the statistics on people who have one the lottery and then loose it all?

How many people loose everything once they won? What are the percentage of people who loose it all in the first 2 years?

What are the statistics on people who have one the lottery and then loose it all?
Nearly one-third of lottery winners become bankrupt.





“The CFP Board made an offer to the National Association of State and Provincial Lotteries to provide the organization's members with information to distribute to winners. The Investment News article highlighted the lack of financial guidance many winners receive from state lottery agencies; estimates show that nearly one-third of lottery winners become bankrupt.”


Source: Certified Financial Planner Board of Standards, Inc


“Research shows that a significant number of lottery winners lose their winnings within five years, said Stephen Goldbart, a


psychologist and co- director of the Money, Meaning and Choices


Institute in Kentfield, which advices people who come into financial


windfalls.”
Reply:100% of people that win the lottery and loose it all on frivilous stuff want to win the lottery again, and this time apply common sense to their spending habits.