Zero to Hero and Back to Zero in a Blink of an Eye!
Zero to Hero and back to Zero. You may be asking what I am talking about so let me explain. We all realize when we become adults that there are many different ways to make money, earn a living so we can pay our bills, go on holidays and generally enjoy life.
Now not all the ways of earning are equal. We can trade our time for money and this is usually entails a standard job, working for an employer and is the most common way most people earn enough to get by on. Yes different jobs pay different wages some more than others but at the end of the day we are still trading our time for a wage/pay packet.
Some people also rely on the possible windfall from a rich family/friend passing and leaving an inheritance!!!! Not everyone has/knows a rich family or friend and even if you did this is a long time gamble for the possibility of becoming financially well off.
Many millions of people anxiously wait in hope every week of winning the lotto. Zero to Hero in a blink of an eye yippee I’ve won the lotto!!!!!
Now before you get to excited you may want to consider some things like
- You are moved into a higher tax bracket
- You now have hundreds of friends and family you didn’t know you had
- Easy money come Easy money go
- You still have no plan for the future
- You are oblivious to the added responsibility all that extra cash brings
- Statistic show you will be broke, poorer than what you were initially prior to the win in less than 2 years.
Hero to Zero In a Blink of an Eye
What a Load of crap you may say!! how could any-one possibly go broke in such a short amount of time after winning a big lotto pay out. I wouldn’t go broke you may be saying, how ever the hundreds of thousands who have gone before you all probably thought and said the same thing.
Zero to Hero and back to Zero Journey
How could I go broke in less than 2 years after a big lotto windfall.This is something we have all said and thought at different interval through-out our working life when we have been day dreaming of how nice it would be to be money rich; yet we have seen it happen to other people time and time again. Never Learning from their Mistake……!
The one biggest reason so many people go from Zero to Hero and back to Zero after winning the lotto is most of the time the person who wins the big money prize is a general hard working person in a modest life slaving away to keep the wolves from their door.
Now there is nothing wrong with a life like this many of us have been doing it this way for centuries. The problem comes when we win a huge amount money and watch our bank balance automatically grow from the usual 500 bucks a week that we worked really hard for to millions of dollars over night.
The millions come without a price no hard work, no sweat, no sacrifice, so excitement takes over and most people rush headlong into a financially rich time in their life from the lotto win without a plan automatically thinking they will never have to suffer again. WRONG!!
Wrong because within 2 years these lotto winners are generally completely broke owing huge amounts of money and no job so they are usually in an even worse position than before they had won their millions. So if you are ever lucky enough to have your lotto numbers come in and you strike it rich and (this is a big if) try to contain your excitement and set to work with a plan for your long term future. Try to see past the next few days, weeks and months. a wise person once said
With great Wealth comes Great Responsibility
So here is a little story about a young man who went from Zero to Hero and back. Even though this young man had won enough money to set himself up for life he is now having to start all over again and his journey down the financial ladder didn’t seem to truly make him happy any way
Introducing Michael Carroll
Lotto winner working in factory after blowing $16m
An English lotto winner has revealed that he is working in a biscuit factory for $10 an hour after blowing $16m on drugs, alcohol and prostitutes.
Former rubbish collector Michael Carroll, who won $16m in a 2002 Lotto jackpot, said he had turned over a new leaf since moving to Scotland from England last month and taking up work as a biscuit packer, the Scottish Daily Record reports.
“I get £204 every week for packing and stacking shortbread and cookies and I love it. I treasure those wages more than any £9million fortune,” he said.
The 30-year old father said he had blown his winnings living a rock-star lifestyle the past decade and was now focused on cleaning up his act.
After winning the jackpot as a 19-year-old, he gave a large portion to family and friends, bought a mansion in Norfolk and a raft of luxury cars.
He was jailed twice, once in 2004 and once in 2006, and declared bankrupt in 2010.
Michael Carroll in 2005. (AAP)
The self-styled “King of Chavs” was even forced to sleep in a tent when he first arrived in Scotland.
“I camped out in the woods near Elgin because I had nowhere else to go and hadn’t started the job at the factory,” he said.
“I didn’t care about the camping – I was away from the drink and drugs so that was good enough for me.”
There are plenty of stories from people who have gone from rags to riches and back again you only need to search the forums and media articles available. click here to read more information. Some experts believe the figure of lotto winners ending up broke is as high as 70%.
There are many good arguments as to why this happens but really it comes down to each individual and their ability to appreciate a mass fortune handed to them on a platter.