(247WALLST) — The latest winner of the Florida Lottery won $80 million. Orencia Barzey decided to take the POWERBALL money has a lump sum, so he only took home $49,566,294.92, according to website Classicalite. (Financially, taking the lump sum may be a mistake.)
Future Powerball and state lottery ticket winners will become incredibly wealthy in an instant. Imagine being Joe Somebody and turning into Sir Joe the Magnificent overnight. Now imagine the unthinkable that Sir Joe could become Joe the Village Idiot in a very short time. Supposedly most lottery winners end up broke again. That just doesn’t seem right at all.
24/7 Wall St. wants its readers, particularly those few who are lucky enough to win the lottery, to avoid some of the simple and complex mistakes that have taken other lottery winners into bankruptcy. Some have even died. Updates around this hot topic have been more than eye-opening.
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