While winning the lottery may be a dream come true for many, research has found that nearly 70 per cent of big winners end up broke within just a few years.

What starts as excitement often dissolves into despair—as temptation, poor financial decisions, and dysfunctional family dynamics take their toll.

Stories from across Australia shared on social media reveal how suddenly coming into millions can destroy relationships and financial security.

One Aussie shared that winning the lottery 'ruined' their extended family.

Aussies shared their stories about lottery winners who had negative experiences after winning. Image source: The Lott.

'My uncle won in 2014, and he left the country because my aunt started telling everyone. It ruined my family,' they shared.

'My parents would get phone calls every day from family members asking where my uncle was. I went travelling a few years later and they spread rumours that my uncle was funding my life.'

'How much does it cost to rip a family apart? $5-10M.'

They added that they had not spoken to their uncle since he had fled the country, and they aren’t even aware if he was still alive.

Another Aussie shared: 'A girl's family I went to high school with won $10M about 20 years ago, I think. She never really spoke about it because it tore her family apart.'

While a third talked about the downfall of a family friend who won millions in the 1990s.

'Have a family friend who won Div 1 in the mid ‘90s. About $8million back then,' they explained.

'Long story short, they lost it all, and when I mean lost it all—I mean actual bankruptcy.'

One spoke about a family member who won over a million dollars and spent most of it on extravagant purchases in a week, despite getting financial advice after winning the lottery.

'One won $1.5m, got some really great advice [which was] structured and would have given him a good income for rest of his life, but a week later, he spunked $240k on a new Range Rover, $150k on a new M4 Convertible for his wife, $150k on a caravan and was back working on his mobile fish and chip trailer six months later,' they said.

Another shared a distressing story about an Aussie woman who won $22 million in the lottery, only to be exploited by her long-lost brother.

In just six months, the brother managed to take away $7 million from her with requests like a new car, a holiday, a new house, and a business to facilitate quitting FIFO (Fly-in, Fly-out) work.

'When the final amount was paid, she never heard from him again. She was quite simple and only bought a 4-bed house in the burbs and a new Commodore—it was sad as she genuinely thought she had rekindled their relationship.'

The outpouring of stories also brings to mind more infamous stories of post-win misfortunes. Below are some known winners and their horror stories after winning the lottery:

Sherif Girgis was just 23 when he landed a $30 million jackpot in 2007.

He made a series of investments under the guidance of real estate agent and City of Joondalup Deputy Mayor Russell Poliwka.

Girgis spent lavishly on a pub, nightclub, and an 80-foot catamaran. He also bought a block of land with waterfront views.

But failed ventures left him with just $5 million by 2012. He also found out that his investments were overpriced.

He later sued his advisor for $3.5 million, winning $2 million for 'misleading or deceptive representation' and 'negligent advice'.

While some stories end in financial ruin, others end with lives also lost.

In 1960, Sydney-based winner Bazil Thorne won £100,000 (over $1.7 million today).

His 8-year-old son Graeme was kidnapped and killed for a ransom worth £25,000 (around $425,000 today), permanently altering lottery policy in Australia.

Winners in Australia can now request anonymity after Thorne’s case.

In 2011, winner Maria Devrell from Tamworth picked her friend Peter Kelly to manage her $5 million prize. But after failed investments in Fiji and the NSW Central Coast, Kelly flew into a rage, bashed Maria to death with a plastic-covered rubber mallet during an argument and strangled her.

He was found guilty of murder and was sentenced to 18 years in prison.

Kelly later disclosed to the police that he was 'sick' of hearing Maria 'complaining and blaming everyone [else] for her problems'.

Another Australian pensioner, Frank Kemmler, who won $60,000 in the lottery, thought that his dream had finally come true and that he had a chance to enjoy some financial freedom.

But his joy was short-lived when he discovered the harsh reality of his newfound wealth: his pension would be taken away.

Now, Frank is on a mission to warn other pensioners about the potential pitfalls of playing the lottery.

'I'm just trying to stop other people falling into the same trap,' he told a news source.

'If I'd known then what I know now, I would've given the win to my daughter and kept the pension for myself…So much for being lucky.'

You can read more about Frank’s story here.

While most of the stories revealed the negative consequences of winning the lottery, some Aussies also shared positive experiences.

'Father-in-law's friend won several million, bought a cattle station and lived his best life,' one shared.

'I was a local banker at a small town branch, and a local lady in her 50s who was a client won quite a lot of money,' another added.

'She was enjoying her life before, and she was happy afterwards.'

Another told the story about their boyfriend’s childhood friend who won $800,000 around 15 years ago.

'He put it into a high interest savings account, bought a property that he rented out while he still lived with his mum (he was 19) and has never worked a day since.'

'He apparently sat down with a financial advisor, and they set it up so he could draw a very humble “wage” amount out each month without it affecting his interest earned too much.'

'He now owns several properties after making some smart investments in the stock market and continues to flourish. Wife, 3 kids, happy days. He’s a lovely bloke.'

Key Takeaways

• Research has found that 70 per cent of lottery winners end up in financial ruin.
  
• In a thread shared on social media, Aussies shared their stories of how lottery wins went horribly wrong for their friends and family.
  
• One pensioner who won the lottery had his pension taken away due to Centrelink rules.
  
• Some Aussies also shared positive experiences and stories of lottery winners.
  

Members, do you know anyone who has won the lottery? How did things turn out for them? Share your stories and thoughts with us in the comments below!

 

[Colette 3799]

Our financial advisor told us about a client some years back who had a good win on lotto. He took care of his siblings and bought his parents a house. The plan was his parents lived in it for as long as they needed then after their passing the house was his. His siblings didn’t agree with that and wanted their share, even though he had gifted a good amount of his winnings when he won the money. It tore the family apart and they never spoke again. I also know a young couple who won $100,000 on a scratch card. They kept it to themselves, only telling her parents. It gave them a great start in life without the pressure of people hitting them for a handout.

 

[Col@45]

While winning the lottery may be a dream come true for many, research has found that nearly 70 per cent of big winners end up broke within just a few years.

What starts as excitement often dissolves into despair—as temptation, poor financial decisions, and dysfunctional family dynamics take their toll.

Stories from across Australia shared on social media reveal how suddenly coming into millions can destroy relationships and financial security.

One Aussie shared that winning the lottery 'ruined' their extended family.

View attachment 38882

Aussies shared their stories about lottery winners who had negative experiences after winning. Image source: The Lott.

'My uncle won in 2014, and he left the country because my aunt started telling everyone. It ruined my family,' they shared.

'My parents would get phone calls every day from family members asking where my uncle was. I went travelling a few years later and they spread rumours that my uncle was funding my life.'

'How much does it cost to rip a family apart? $5-10M.'

They added that they had not spoken to their uncle since he had fled the country, and they aren’t even aware if he was still alive.

Another Aussie shared: 'A girl's family I went to high school with won $10M about 20 years ago, I think. She never really spoke about it because it tore her family apart.'

While a third talked about the downfall of a family friend who won millions in the 1990s.

'Have a family friend who won Div 1 in the mid ‘90s. About $8million back then,' they explained.

'Long story short, they lost it all, and when I mean lost it all—I mean actual bankruptcy.'

One spoke about a family member who won over a million dollars and spent most of it on extravagant purchases in a week, despite getting financial advice after winning the lottery.

'One won $1.5m, got some really great advice [which was] structured and would have given him a good income for rest of his life, but a week later, he spunked $240k on a new Range Rover, $150k on a new M4 Convertible for his wife, $150k on a caravan and was back working on his mobile fish and chip trailer six months later,' they said.

Another shared a distressing story about an Aussie woman who won $22 million in the lottery, only to be exploited by her long-lost brother.

In just six months, the brother managed to take away $7 million from her with requests like a new car, a holiday, a new house, and a business to facilitate quitting FIFO (Fly-in, Fly-out) work.

'When the final amount was paid, she never heard from him again. She was quite simple and only bought a 4-bed house in the burbs and a new Commodore—it was sad as she genuinely thought she had rekindled their relationship.'

The outpouring of stories also brings to mind more infamous stories of post-win misfortunes. Below are some known winners and their horror stories after winning the lottery:

Sherif Girgis was just 23 when he landed a $30 million jackpot in 2007.

He made a series of investments under the guidance of real estate agent and City of Joondalup Deputy Mayor Russell Poliwka.

Girgis spent lavishly on a pub, nightclub, and an 80-foot catamaran. He also bought a block of land with waterfront views.

But failed ventures left him with just $5 million by 2012. He also found out that his investments were overpriced.

He later sued his advisor for $3.5 million, winning $2 million for 'misleading or deceptive representation' and 'negligent advice'.

While some stories end in financial ruin, others end with lives also lost.

In 1960, Sydney-based winner Bazil Thorne won £100,000 (over $1.7 million today).

His 8-year-old son Graeme was kidnapped and killed for a ransom worth £25,000 (around $425,000 today), permanently altering lottery policy in Australia.

Winners in Australia can now request anonymity after Thorne’s case.

In 2011, winner Maria Devrell from Tamworth picked her friend Peter Kelly to manage her $5 million prize. But after failed investments in Fiji and the NSW Central Coast, Kelly flew into a rage, bashed Maria to death with a plastic-covered rubber mallet during an argument and strangled her.

He was found guilty of murder and was sentenced to 18 years in prison.

Kelly later disclosed to the police that he was 'sick' of hearing Maria 'complaining and blaming everyone [else] for her problems'.

Another Australian pensioner, Frank Kemmler, who won $60,000 in the lottery, thought that his dream had finally come true and that he had a chance to enjoy some financial freedom.

But his joy was short-lived when he discovered the harsh reality of his newfound wealth: his pension would be taken away.

Now, Frank is on a mission to warn other pensioners about the potential pitfalls of playing the lottery.

'I'm just trying to stop other people falling into the same trap,' he told a news source.

'If I'd known then what I know now, I would've given the win to my daughter and kept the pension for myself…So much for being lucky.'

You can read more about Frank’s story here.

While most of the stories revealed the negative consequences of winning the lottery, some Aussies also shared positive experiences.

'Father-in-law's friend won several million, bought a cattle station and lived his best life,' one shared.

'I was a local banker at a small town branch, and a local lady in her 50s who was a client won quite a lot of money,' another added.

'She was enjoying her life before, and she was happy afterwards.'

Another told the story about their boyfriend’s childhood friend who won $800,000 around 15 years ago.

'He put it into a high interest savings account, bought a property that he rented out while he still lived with his mum (he was 19) and has never worked a day since.'

'He apparently sat down with a financial advisor, and they set it up so he could draw a very humble “wage” amount out each month without it affecting his interest earned too much.'

'He now owns several properties after making some smart investments in the stock market and continues to flourish. Wife, 3 kids, happy days. He’s a lovely bloke.'

Key Takeaways

• Research has found that 70 per cent of lottery winners end up in financial ruin.
• In a thread shared on social media, Aussies shared their stories of how lottery wins went horribly wrong for their friends and family.
• One pensioner who won the lottery had his pension taken away due to Centrelink rules.
• Some Aussies also shared positive experiences and stories of lottery winners.

Members, do you know anyone who has won the lottery? How did things turn out for them? Share your stories and thoughts with us in the comments below!

Money doesn't buy happiness.......but it helps !

 

[mylittletibbies]

I would give most of the money to SCG Hospital for cancer research, Crawford Lodge ( thank you for the wonderful treatment my daughter has received and the free city accommodation during her radiation treatment).
The RSPCA, numerous animal charities, etc.
Of course I would give some to my.children, enough to help them on their way in life, but not so much as to change their lives too drastically.
I would invest enough to live on, maybe get a new car.
I don't know why they don't make the 2nd and 3rd prizes higher when the jackpot gets over _$10million and spread the joy around. Nobody needs such obscene amounts of money.

 

[Littleboy8]

I would give most of the money to SCG Hospital for cancer research, Crawford Lodge ( thank you for the wonderful treatment my daughter has received and the free city accommodation during her radiation treatment).
The RSPCA, numerous animal charities, etc.
Of course I would give some to my.children, enough to help them on their way in life, but not so much as to change their lives too drastically.
I would invest enough to live on, maybe get a new car.
I don't know why they don't make the 2nd and 3rd prizes higher when the jackpot gets over _$10million and spread the joy around. Nobody needs such obscene amounts of money.

15years ago my ex and I won over 1/2 million bucks on spot9 keno worst thing that ever happened to us. New Car,cruise,house,etc.and he still gambled the remaining money away under my nose. Didn’t have a clue until my sis asked why there was $400.00 a day coming out of our bank account how naive was I.good times don’t last that’s why we’re now ex’s. Now I’m broke but happy and I have my cat.My Own fault for being so trusting. But that’s life right.

 

[marni]

While winning the lottery may be a dream come true for many, research has found that nearly 70 per cent of big winners end up broke within just a few years.

What starts as excitement often dissolves into despair—as temptation, poor financial decisions, and dysfunctional family dynamics take their toll.

Stories from across Australia shared on social media reveal how suddenly coming into millions can destroy relationships and financial security.

One Aussie shared that winning the lottery 'ruined' their extended family.

View attachment 38882

Aussies shared their stories about lottery winners who had negative experiences after winning. Image source: The Lott.

'My uncle won in 2014, and he left the country because my aunt started telling everyone. It ruined my family,' they shared.

'My parents would get phone calls every day from family members asking where my uncle was. I went travelling a few years later and they spread rumours that my uncle was funding my life.'

'How much does it cost to rip a family apart? $5-10M.'

They added that they had not spoken to their uncle since he had fled the country, and they aren’t even aware if he was still alive.

Another Aussie shared: 'A girl's family I went to high school with won $10M about 20 years ago, I think. She never really spoke about it because it tore her family apart.'

While a third talked about the downfall of a family friend who won millions in the 1990s.

'Have a family friend who won Div 1 in the mid ‘90s. About $8million back then,' they explained.

'Long story short, they lost it all, and when I mean lost it all—I mean actual bankruptcy.'

One spoke about a family member who won over a million dollars and spent most of it on extravagant purchases in a week, despite getting financial advice after winning the lottery.

'One won $1.5m, got some really great advice [which was] structured and would have given him a good income for rest of his life, but a week later, he spunked $240k on a new Range Rover, $150k on a new M4 Convertible for his wife, $150k on a caravan and was back working on his mobile fish and chip trailer six months later,' they said.

Another shared a distressing story about an Aussie woman who won $22 million in the lottery, only to be exploited by her long-lost brother.

In just six months, the brother managed to take away $7 million from her with requests like a new car, a holiday, a new house, and a business to facilitate quitting FIFO (Fly-in, Fly-out) work.

'When the final amount was paid, she never heard from him again. She was quite simple and only bought a 4-bed house in the burbs and a new Commodore—it was sad as she genuinely thought she had rekindled their relationship.'

The outpouring of stories also brings to mind more infamous stories of post-win misfortunes. Below are some known winners and their horror stories after winning the lottery:

Sherif Girgis was just 23 when he landed a $30 million jackpot in 2007.

He made a series of investments under the guidance of real estate agent and City of Joondalup Deputy Mayor Russell Poliwka.

Girgis spent lavishly on a pub, nightclub, and an 80-foot catamaran. He also bought a block of land with waterfront views.

But failed ventures left him with just $5 million by 2012. He also found out that his investments were overpriced.

He later sued his advisor for $3.5 million, winning $2 million for 'misleading or deceptive representation' and 'negligent advice'.

While some stories end in financial ruin, others end with lives also lost.

In 1960, Sydney-based winner Bazil Thorne won £100,000 (over $1.7 million today).

His 8-year-old son Graeme was kidnapped and killed for a ransom worth £25,000 (around $425,000 today), permanently altering lottery policy in Australia.

Winners in Australia can now request anonymity after Thorne’s case.

In 2011, winner Maria Devrell from Tamworth picked her friend Peter Kelly to manage her $5 million prize. But after failed investments in Fiji and the NSW Central Coast, Kelly flew into a rage, bashed Maria to death with a plastic-covered rubber mallet during an argument and strangled her.

He was found guilty of murder and was sentenced to 18 years in prison.

Kelly later disclosed to the police that he was 'sick' of hearing Maria 'complaining and blaming everyone [else] for her problems'.

Another Australian pensioner, Frank Kemmler, who won $60,000 in the lottery, thought that his dream had finally come true and that he had a chance to enjoy some financial freedom.

But his joy was short-lived when he discovered the harsh reality of his newfound wealth: his pension would be taken away.

Now, Frank is on a mission to warn other pensioners about the potential pitfalls of playing the lottery.

'I'm just trying to stop other people falling into the same trap,' he told a news source.

'If I'd known then what I know now, I would've given the win to my daughter and kept the pension for myself…So much for being lucky.'

You can read more about Frank’s story here.

While most of the stories revealed the negative consequences of winning the lottery, some Aussies also shared positive experiences.

'Father-in-law's friend won several million, bought a cattle station and lived his best life,' one shared.

'I was a local banker at a small town branch, and a local lady in her 50s who was a client won quite a lot of money,' another added.

'She was enjoying her life before, and she was happy afterwards.'

Another told the story about their boyfriend’s childhood friend who won $800,000 around 15 years ago.

'He put it into a high interest savings account, bought a property that he rented out while he still lived with his mum (he was 19) and has never worked a day since.'

'He apparently sat down with a financial advisor, and they set it up so he could draw a very humble “wage” amount out each month without it affecting his interest earned too much.'

'He now owns several properties after making some smart investments in the stock market and continues to flourish. Wife, 3 kids, happy days. He’s a lovely bloke.'

Key Takeaways

• Research has found that 70 per cent of lottery winners end up in financial ruin.
• In a thread shared on social media, Aussies shared their stories of how lottery wins went horribly wrong for their friends and family.
• One pensioner who won the lottery had his pension taken away due to Centrelink rules.
• Some Aussies also shared positive experiences and stories of lottery winners.

Members, do you know anyone who has won the lottery? How did things turn out for them? Share your stories and thoughts with us in the comments below!

Yes. Buy a very nice house. Your house is not counted towards asset test. Get really good financial advice and you will be set for life. Definitely do not let others know if you have any left in the bank.

 

[mylittletibbies]

15years ago my ex and I won over 1/2 million bucks on spot9 keno worst thing that ever happened to us. New Car,cruise,house,etc.and he still gambled the remaining money away under my nose. Didn’t have a clue until my sis asked why there was $400.00 a day coming out of our bank account how naive was I.good times don’t last that’s why we’re now ex’s. Now I’m broke but happy and I have my cat.My Own fault for being so trusting. But that’s life right.

As long as you're happy that's the main thing . At least your cat will never do wrong by you.
Gambling is a curse, it broke up my parents marriage, also my first marriage, along with alcohol problems.
I later learnt from my mother that my grandfather (father's side)lost his home, butcher's shop and then his marriage.

I also had an aunt who had a court order so she could go to my uncle's place of employment every week and pick up a percentage of his pay for housekeeping
This was my father's brother. I do believe addictions are hereditary. So glad I'm too fond of my money to waste it all gambling. The odd lotto ticket now and then is all I do.

 

[Littleboy8]

As long as you're happy that's the main thing . At least your cat will never do wrong by you.
Gambling is a curse, it broke up my parents marriage, also my first marriage, along with alcohol problems.
I later learnt from my mother that my grandfather (father's side)lost his home, butcher's shop and then his marriage.

I also had an aunt who had a court order so she could go to my uncle's place of employment every week and pick up a percentage of his pay for housekeeping
This was my father's brother. I do believe addictions are hereditary. So glad I'm too fond of my money to waste it all gambling. The odd lotto ticket now and then is all I do.

My ex was bought up in violence his father was an abusive alcoholic and waste of air apparantely and his mother was a great mother. My ex loved his marijuana and booze and his mates more than me but you live and learn. And I think also addictions can be hereditary not everyone will agree but that’s fine. And yeah my littleboy will always love his mum.

 

[Veggiepatch]

How bizarre! I was only thinking yesterday about Graeme Thorne! They were our next door neighbour living in Bondi back then. I only know about it from what my parents told me as I was only one year old at the time. Freaky!

Meanwhile, a guy I sort of know won just over $2 million on Keno about 5 years ago. He threw it around like there was no tomorrow. Where is he now? Walking around the streets of Dandenong with the same clothes for days on end, scabbing cigarettes from passers by! Sad....

 

[Shane/#]

While winning the lottery may be a dream come true for many, research has found that nearly 70 per cent of big winners end up broke within just a few years.

What starts as excitement often dissolves into despair—as temptation, poor financial decisions, and dysfunctional family dynamics take their toll.

Stories from across Australia shared on social media reveal how suddenly coming into millions can destroy relationships and financial security.

One Aussie shared that winning the lottery 'ruined' their extended family.

View attachment 38882

Aussies shared their stories about lottery winners who had negative experiences after winning. Image source: The Lott.

'My uncle won in 2014, and he left the country because my aunt started telling everyone. It ruined my family,' they shared.

'My parents would get phone calls every day from family members asking where my uncle was. I went travelling a few years later and they spread rumours that my uncle was funding my life.'

'How much does it cost to rip a family apart? $5-10M.'

They added that they had not spoken to their uncle since he had fled the country, and they aren’t even aware if he was still alive.

Another Aussie shared: 'A girl's family I went to high school with won $10M about 20 years ago, I think. She never really spoke about it because it tore her family apart.'

While a third talked about the downfall of a family friend who won millions in the 1990s.

'Have a family friend who won Div 1 in the mid ‘90s. About $8million back then,' they explained.

'Long story short, they lost it all, and when I mean lost it all—I mean actual bankruptcy.'

One spoke about a family member who won over a million dollars and spent most of it on extravagant purchases in a week, despite getting financial advice after winning the lottery.

'One won $1.5m, got some really great advice [which was] structured and would have given him a good income for rest of his life, but a week later, he spunked $240k on a new Range Rover, $150k on a new M4 Convertible for his wife, $150k on a caravan and was back working on his mobile fish and chip trailer six months later,' they said.

Another shared a distressing story about an Aussie woman who won $22 million in the lottery, only to be exploited by her long-lost brother.

In just six months, the brother managed to take away $7 million from her with requests like a new car, a holiday, a new house, and a business to facilitate quitting FIFO (Fly-in, Fly-out) work.

'When the final amount was paid, she never heard from him again. She was quite simple and only bought a 4-bed house in the burbs and a new Commodore—it was sad as she genuinely thought she had rekindled their relationship.'

The outpouring of stories also brings to mind more infamous stories of post-win misfortunes. Below are some known winners and their horror stories after winning the lottery:

Sherif Girgis was just 23 when he landed a $30 million jackpot in 2007.

He made a series of investments under the guidance of real estate agent and City of Joondalup Deputy Mayor Russell Poliwka.

Girgis spent lavishly on a pub, nightclub, and an 80-foot catamaran. He also bought a block of land with waterfront views.

But failed ventures left him with just $5 million by 2012. He also found out that his investments were overpriced.

He later sued his advisor for $3.5 million, winning $2 million for 'misleading or deceptive representation' and 'negligent advice'.

While some stories end in financial ruin, others end with lives also lost.

In 1960, Sydney-based winner Bazil Thorne won £100,000 (over $1.7 million today).

His 8-year-old son Graeme was kidnapped and killed for a ransom worth £25,000 (around $425,000 today), permanently altering lottery policy in Australia.

Winners in Australia can now request anonymity after Thorne’s case.

In 2011, winner Maria Devrell from Tamworth picked her friend Peter Kelly to manage her $5 million prize. But after failed investments in Fiji and the NSW Central Coast, Kelly flew into a rage, bashed Maria to death with a plastic-covered rubber mallet during an argument and strangled her.

He was found guilty of murder and was sentenced to 18 years in prison.

Kelly later disclosed to the police that he was 'sick' of hearing Maria 'complaining and blaming everyone [else] for her problems'.

Another Australian pensioner, Frank Kemmler, who won $60,000 in the lottery, thought that his dream had finally come true and that he had a chance to enjoy some financial freedom.

But his joy was short-lived when he discovered the harsh reality of his newfound wealth: his pension would be taken away.

Now, Frank is on a mission to warn other pensioners about the potential pitfalls of playing the lottery.

'I'm just trying to stop other people falling into the same trap,' he told a news source.

'If I'd known then what I know now, I would've given the win to my daughter and kept the pension for myself…So much for being lucky.'

You can read more about Frank’s story here.

While most of the stories revealed the negative consequences of winning the lottery, some Aussies also shared positive experiences.

'Father-in-law's friend won several million, bought a cattle station and lived his best life,' one shared.

'I was a local banker at a small town branch, and a local lady in her 50s who was a client won quite a lot of money,' another added.

'She was enjoying her life before, and she was happy afterwards.'

Another told the story about their boyfriend’s childhood friend who won $800,000 around 15 years ago.

'He put it into a high interest savings account, bought a property that he rented out while he still lived with his mum (he was 19) and has never worked a day since.'

'He apparently sat down with a financial advisor, and they set it up so he could draw a very humble “wage” amount out each month without it affecting his interest earned too much.'

'He now owns several properties after making some smart investments in the stock market and continues to flourish. Wife, 3 kids, happy days. He’s a lovely bloke.'

Key Takeaways

• Research has found that 70 per cent of lottery winners end up in financial ruin.
• In a thread shared on social media, Aussies shared their stories of how lottery wins went horribly wrong for their friends and family.
• One pensioner who won the lottery had his pension taken away due to Centrelink rules.
• Some Aussies also shared positive experiences and stories of lottery winners.

Members, do you know anyone who has won the lottery? How did things turn out for them? Share your stories and thoughts with us in the comments below!

Bank it so you can't access it for 2 or three months to clear your head and make decisions about it or live of the interest

 

[Bridgit]

Our financial advisor told us about a client some years back who had a good win on lotto. He took care of his siblings and bought his parents a house. The plan was his parents lived in it for as long as they needed then after their passing the house was his. His siblings didn’t agree with that and wanted their share, even though he had gifted a good amount of his winnings when he won the money. It tore the family apart and they never spoke again. I also know a young couple who won $100,000 on a scratch card. They kept it to themselves, only telling her parents. It gave them a great start in life without the pressure of people hitting them for a handout.

Yes greed is a monster.

 

[Stevo114]

Bank it so you can't access it for 2 or three months to clear your head and make decisions about it or live of the interest

Agree - I would even go 12 months. Pay off your mortgage and debts, maybe take a short holiday. Think about how to use the money properly, get sound advice and honestly - tell nobody in the family if possible.

 

[Gil]

A workmate of mine back in the late 70's had a large lottery win. He left our employment without a word about his wjn. He leased a petrol station, bough a speed boat, bought a luxury car for a girlfriend, bought shares in racehorses and bought a townhouse for his girlfriend. Unfortunately, his wife found out about the girlfriend so she filed for divorce. The girlfriend found out that he was married, so she took off from him. The racehorse venture fell flat, costing a lot of money for training and agistment. His wife sued for half of his winnings, which had by then almost disappeared, He was ordered to pay up to his wife, and he was in deep trouble with some shady figures from the racing game. He had to find money quickly, so he began robbing banks. it got to a point where he was in that much trouble that he walked into a bank, took his mask off, looked up at the surveillance camera and sort of asked the police to come get him because he would be safer with them. He spent 12 years in jail.

 

[Jarred Santos]

The saying 'Money is the root of all evil' came to mind reading your stories.

 

[Jarred Santos]

A workmate of mine back in the late 70's had a large lottery win. He left our employment without a word about his wjn. He leased a petrol station, bough a speed boat, bought a luxury car for a girlfriend, bought shares in racehorses and bought a townhouse for his girlfriend. Unfortunately, his wife found out about the girlfriend so she filed for divorce. The girlfriend found out that he was married, so she took off from him. The racehorse venture fell flat, costing a lot of money for training and agistment. His wife sued for half of his winnings, which had by then almost disappeared, He was ordered to pay up to his wife, and he was in deep trouble with some shady figures from the racing game. He had to find money quickly, so he began robbing banks. it got to a point where he was in that much trouble that he walked into a bank, took his mask off, looked up at the surveillance camera and sort of asked the police to come get him because he would be safer with them. He spent 12 years in jail.

Thanks for the detailed story @Gil. Do you have any idea what happened to him after those 12 years in prison?

 

[Catherines]

Husband doing my Family Tree with almost 20 years of research and paying numerous sites for access to their records (in excess of $2000 cost for this membership). When completed and we were ready to have printed and bound asked my siblings (6 of them) to contribute towards cost of research and printing/binding. Wow! what a hullabaloo, especially from one of them - "why should we pay, give us digital copies, you can give to your children without charging them but not to us" etc. I refused, saying we'd paid for site membership and my husband's time and if they wanted a printed/bound copy they'd have to pay. Finally got something out of everyone and each had to take a digital copy and pay or no one would get one to pass around at no cost to them all. Families sometimes are your worst enemies where money is involved. Now we don't discuss too much with most of them - 2 brothers are the best of the 6, with no jealousy.

And yes money is the root of all evil. Even where families are concerned.

 

[Leenie]

As long as you're happy that's the main thing . At least your cat will never do wrong by you.
Gambling is a curse, it broke up my parents marriage, also my first marriage, along with alcohol problems.
I later learnt from my mother that my grandfather (father's side)lost his home, butcher's shop and then his marriage.

I also had an aunt who had a court order so she could go to my uncle's place of employment every week and pick up a percentage of his pay for housekeeping
This was my father's brother. I do believe addictions are hereditary. So glad I'm too fond of my money to waste it all gambling. The odd lotto ticket now and then is all I do.

Good morning @mylittletibbies, my apologies for missing your message re voice ,I can send you a copy as this is still relevant and rearing it’s ugly head again has been on the news last couple of days with Mayo for it to be enshrined in the constitution. if you would like a copy send me a postal address and it will be mailed to you it is 18 A4 pages . my email Address is, [email protected] everyone should have a copy of this information,as it gives you the facts.

 

[Leenie]

Agree - I would even go 12 months. Pay off your mortgage and debts, maybe take a short holiday. Think about how to use the money properly, get sound advice and honestly - tell nobody in the family if possible.

Good advice.

 

[Leenie]

Good morning @mylittletibbies, my apologies for missing your message re voice ,I can send you a copy as this is still relevant and rearing it’s ugly head again has been on the news last couple of days with Mayo for it to be enshrined in the constitution. if you would like a copy send me a postal address and it will be mailed to you it is 18 A4 pages . my email Address is, [email protected] everyone should have a copy of this information,as it gives you the facts.

I will get my daughter to send as I am not that clever she will be home on Friday. Is mylittletibbies your email address?

 

[Veggiepatch]

Good morning @mylittletibbies, my apologies for missing your message re voice ,I can send you a copy as this is still relevant and rearing it’s ugly head again has been on the news last couple of days with Mayo for it to be enshrined in the constitution. if you would like a copy send me a postal address and it will be mailed to you it is 18 A4 pages . my email Address is, [email protected] everyone should have a copy of this information,as it gives you the facts.

Probably a good idea if you and @mylittletibbies use the private conversation facility at the top of the right hand of the page next to your username. The envelop thingy. For the sake of privacy and confidentiality for you both. Not saying there are some weirdos on SDC but better safe than sorry.

Sorry for the intrusion....