Yet another unlucky lottery winner

Posted May 4th, 2007 by stormy and filed in Finance
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This guy won $5 million dollars and is now living off social security!  His problem?  Bad investment advice.  It sounds like he might have a case although he probably should have gotten multiple opinions!  He was getting $98000 a year when an investment company convinced him to:

sell the future annual payments off to a private firm for an immediate
lump sum – in his case, about $2 million – that he could roll into
investments. He’d just live off the earnings and interest.

All these stories of lottery winners going broke almost makes you afraid to win the lottery!

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