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How to Squander Your Fortune

Do you ever think about what you would do if you were rich?

It would be wise to learn from the mistakes of others.

Here are some examples of what not to do when you have your millions.

They are sad stories.

I offer them to stir within us a motivation to be strong and develop the right set of values.

This way, when fortune comes our way, we will be prepared to do good things with it.

The list is from an article about the reckless things some people have done after winning the lottery.

I have identified some of the lessons I think we can learn.

Here is a question for you:

Do you think at least some of the people would have behaved differently if they had earned their fortune instead of winning in?

Self control

Jack Whittaker is a contractor from West Virginia. In 2002, he won $315 million dollars in the Powerball lottery. Whittaker couldn’t control himself and gave in to his urges, visiting a strip club where $545,000 of his money got stolen.

Know whom to trust

Etta May Urquhart had been playing the lottery for over 18 years in California. In 2011, her luck finally changed for the better when she hit the jackpot and won $51 million. Shocked by her amazing new found fortune, Urquhart was shaking the entire time when she was about to claim her prize. So she asked her son, Ronnie Orender, to sign the ticket and claim the jackpot for her. Orender, however, had other plans. He claimed the ticket as his own and was thereafter awarded the prize money. He also went on a buying spree of four houses and 10 cars. Urquhart has since sued her son for fraud and abuse.

Be prudent

One would think that Evelyn Adams possessed all the luck in the world. In the mid 80′s, she won the lottery in New Jersey not just once, but twice in succeeding years. Her total prize money amounted to $5.4 million. She pushed her luck a bit too far though, and lost a lot of money in Atlantic City. She also handed out money to anyone who asked for it. Adams now lives in a trailer with all of her money gone.

Reach out for help when you are over your head

She was only 16 years old when she won the lottery in England, and maybe it was a case of too much too soon. Callie Rogers immediately had breast implants, aside from buying several houses and getting addicted to drugs. She also went on luxury vacations, not minding the money to be spent. Just six years later, all her winnings were gone and she is back living with her mom. She has tried to kill herself twice already.