Tales of Unexpected Windfalls: Lottery Winners Through History
We all love the idea of one day winning that big lottery or getting magic money, but these tales of unexpected windfalls will change your perspective.
We all have, at one point, dreamt of winning a lottery. That dream does come true, but unfortunately, not for everyone. It is commonly said that the probability of winning a lottery is one in fourteen million. But still, a man from Florida once won 7 times without ever buying a ticket before his first-ever win.
Want to feel lucky? You can drop by the drugstore to purchase a painkiller for that recurring headache, and you could be lucky to get a ticket that will land you your first lottery win.
This was a case of an unemployed man who felt a headache and ran to the drugstore to get an ibuprofen. While at it, he got himself a lottery ticket, and to his luck, he won $5 million. Sounds like magic, right? Who else wouldn’t like to have a bit of extra magic in their lives?
And the best type of abracadabra is magic money, not a card trick, a rabbit pulled from a hat, or a disappearing performance. The magic money could be a little inheritance from a distant relative, a couple dollars discovered in the dryer on laundry day, Fairfield Funding, or simply a fortunate penny smiling up at you when you need a positive omen.
Regardless of the source, we love it. In reality, we spend windfalls differently than we do our regular money. This is because we handle money differently based on where it comes from. So, if you acquire some magical money, spend it wisely or realize when you’re overspending.
Let’s examine some of the experiences of those who got surprise money.
Evelyn Adams lost it all in Atlantic City.
Adams won the lotto twice, once in 1985 and again in 1986, against all odds. She won $5.4 million but squandered it away in Atlantic City.
In addition, Adams told The New York Times in 1993 that the publicity she received resulted in a flood of requests for financial aid. She said she could not go anywhere without being recognized. Everyone knew her.
Tonda Lynn Dickerson was subjected to the gift tax.
Tonda Lynn Dickerson, a former Waffle House server, allegedly refused to split her profits with fellow workers and was compelled to pay the taxman $1,119,347.90. What caused that to happen? Dickerson put her profits in a corporation and gave her family 51% of the stock, allowing her to avoid paying taxes.
Martyn and Kay Tott won a $5 million jackpot but misplaced their winning ticket.
Martyn Tott and wife Kay from the United Kingdom lost a $5 million lottery jackpot after misplacing their ticket. Camelot Group, the corporation that handles the UK’s national lottery, conducted a seven-week investigation that convinced officials that their claim to the winning ticket was authentic.
However, because there was a 30-day deadline for reporting lost tickets, the firm was not compelled to pay up, and the prize became the greatest unclaimed amount since the lottery’s inception in 1994.
Conclusion
The uncontrollable impulses that come with winning a lottery can make one over-splurge. Many of the lottery-winning tales we have read in history ended badly due to poor financial knowledge and habits. Learning how to make money online can give you reliable financial knowledge. However, tiny windfalls and lottery winnings don’t have to end a waste if you have a financial plan and the determination to follow the plan strictly.
