Did you know...
...that one person in Lexington, South Carolina won the $400 million Powerball lottery on Wednesday, September 18th? According to lottery officials it was the fourth largest lottery prize in U.S. history. The biggest payout was $665 million in the Mega Millions game in 2012.
Your chances of winning the lottery are staggering—about one in 175.2 million. According to CNN Reporter Jacque Wilson, “you're more likely to die from a bee sting (one in 6.1 million), be struck by lightning (one in 3 million) or have conjoined twins (one in 200,000).” Yet millions of people play the lottery on a weekly basis. In fact, the Multi-State Lottery Association predicted that approximately 13-15 million people would buy tickets for the September 18th drawing.
Currently lottery officials have no idea who holds the winning ticket. They have advised that the person sign the back of their ticket, store it in a safe place, and seek financial and legal advice. Whoever the lucky winner is, you can be sure they are in store for some big changes in their life. Fortunately, there are plenty of financial and legal advisors available to guide them down the road of their newly found wealth. In fact, there’s actually a website called Sudden Money where you can take a quick self-assessment to see how you’re handling things and then get tips to make a successful transition into your new life.
At one time or another, we’ve all had dreams of coming into money, winning the lottery, etc. Unfortunately statistically the odds are against us—one in 175.2 million. You’re better offer seeking sound and sage financial advice, and also teaching your children the importance of financial management. FamilyMint.com provides children with the knowledge and training of financial literacy in a fun and educational way—and one that doesn’t rely on the astronomical chances of them winning the lottery.
Photo source: News.Yahoo.com