Yet another unlucky lottery winner
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!