Quote:
Originally Posted by justinsain
There was at least one TV show that profiled a handful of lotto winners showing how they went from rags to riches to rags again. There may have even been a series about it.
My guess is the upkeep and maintenance of all their purchases plus bad investments eats away their fortune. You said you could buy all that for $10 mil but the cost doesn't stop at the purchase. You will continue to pay property taxes, insurance, maintenance and so on.
Go out and buy a nice yacht for $4 mil and spend close to $1 mil a year on keeping it  |
I read an article a few years back of a family on the verge of bankruptcy a few years after winning a dream home. The upkeep on the property, utilities, etc. was more than they could afford.