We all love to daydream about winning the lottery so we can quit our jobs, travel the world, and finally live our best lives. But hitting the jackpot doesn’t always mean you’ve made it in life.
Sometimes, lottery winners make bad decisions and engage in reckless spending, blowing every last penny they have. TikToker @theartofwahr is sharing about how her dad used his lottery winnings.
In 2014, he won $13.3 million from the lottery. He took the cash payout, so he received about half of that money. Instead of securing his and his family’s future, he ended up running away to Las Vegas and buying a house.
He gambled a lot and also splurged on heavy machinery, such as skid steers and excavators. He wanted to start a company but never went through with it.
He bought cars, sunglasses, and all the luxuries you could think of. He even took trips with his new girlfriend and her kids. Over time, the millions dwindled.
“So, he won in 2014, and he was pretty much broke by 2023 when he died,” said @theartofwahr. “He had some assets. He slowly started selling them before he died because he needed money.”
He had a land contract with the house in Vegas and bought it out. Then, he was going to sell it to somebody on a land contract, but the guy stopped paying. He ended up suing her dad because he sold two properties that were supposed to go to him.
Now, since her dad’s death, she has been stuck in a legal battle for two to three years over that house in Vegas. So, her dad left quite a mess behind.
Many TikTok users shared what they would’ve done with the money in the comments section.
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Others were quick to point out the pattern of how often lottery winners end up broke within a decade.
“I will never understand people throwing away money like that. I have three kids and one of the first things I’d do is have separate investment accounts set up for all three, so when they hit a certain age, they would have it to help them in life,” commented one user.
“I would have bought a family compound so my kids always have a place to stay. I can’t imagine only spending it on myself and not helping my family out,” stated another.
“My mom used to work at a credit union. She said every single one of the clients [who] won the lottery ended up in severe debt within 10 years. So, I completely believe this. So sad he didn’t seek a financial advisor and tuck money away for his offspring,” added a third.
If you won the lottery, how would you spend the money?
By Emily Chan
Emily Chan is a writer who covers lifestyle and news content. She graduated from Michigan State University with a degree in... More about Emily Chan
