What percent of lottery winners go broke after 5 years?

[kayode10]

It is a very sad story to hear that those who win huge amount of money from the lottery usually go broke after few years. But we have seen some of them who managed to keep the money by investing a lot of properties real estate and business.

The question I want to ask you guys is that What percent of lottery winners go broke after 5 years? I will be glad if anyone I can give me the honest answer.

 

[James108]

According to a study conducted by the National Endowment for Financial Education, about 70% of lottery winners end up broke within five years of winning. This statistic is often cited as evidence that winning the lottery doesn't necessarily lead to financial security.

 

[Qwert135]

Money can be a tool for everyone to test there financial management skills for themselves if people cannot afford to manage small amount of money they cannot do so for large amounts as well in deed actually