The power of a lottery jackpot can make or break a life. In 2002, Jack Whittaker won $314 million by playing the Powerball lottery. This jackpot was the largest lottery prize in history. He was an outsized character who worked as a construction worker in West Virginia. His story is a cautionary tale about the power of a lottery jackpot. Whittaker used the money to give handouts to his friends, family, and church. He also used it to fund his local strip club.
There have been several cases of lottery winners losing their fortunes. One such case is that of William “Bud” Post, who won $16.2 million in 1988. Before his big win, he was already $1 million in debt. His ex-girlfriend even sued him for a share of his winnings, and his brother even hired a hitman to kill him. Nevertheless, his death is still a mystery.
The fate of lottery winners is often predetermined by their decisions, whether or not they are responsible. A person who wins a large lottery jackpot may be able to live a life of luxury and peace of mind, even if they choose to invest in the wrong investments. For instance, a couple who wins a $5 million lottery jackpot might be able to replace the median salary in the United States.
A lottery winner should consult with a financial advisor if he or she wins a big prize. A financial advisor can help him or her decide how best to spend the money.