Study: Neighbors of lottery winners are more likely to go bankrupt

Comment #8

JADELottery — Fri, 01 Jun 2018 23:10:49 GMT

Good to know.

Comment #7

KY Floyd — Wed, 30 May 2018 04:47:40 GMT

So your nosy non-winner neighbors cannot keep up with the Jones'.

If you park a $50,000 boat in your driveway or they see you carrying 3 new 75 TVs into the house (maybe after unloading them from your new car?) they don't need to know you won the lottery to try to keep up. All they've got to do is decide they need a new boat/TV/car too.

IIRC the 2016 report isn't the original one, either. There may be a comment in the linked thread, but I think the idea goes back at least 10 years or... [ More ]

Comment #6

music* — Wed, 30 May 2018 04:11:41 GMT

I am surprised to learn that a lottery win affects both middle class as well as upper-class neighbors.

This news is a good argument for allowing all lottery winners to claim anonymously. The less your neighbors know about your sudden wealth the better for all. This will be one step in protecting your neighbor as well as yourself.

Lottery winners must live somewhere so moving next to High Net Worth families will be the choice.

These articles are also another voice to taking the thirt... [ More ]

Comment #5

Raven62 — Wed, 30 May 2018 01:47:25 GMT

Comment #4

Coin Toss — Tue, 29 May 2018 21:46:41 GMT

Good memory Raven62 thanks, heck I almost forgot about that.

Such articles speak volumes about human nature.

Comment #3

noise-gate — Tue, 29 May 2018 15:58:04 GMT

All the more reasons to keep your mouth shut, should you be a jackpot winner. Do not contribute to your neighbors, whom you may hate, like or love, from falling on their swords.

* Voice of Reason

Comment #2

Bleudog101 — Tue, 29 May 2018 15:28:56 GMT

Maybe what I researched was old, but it basically said in Canada you cannot remain anonymous, however certain situations may warrant an anonymous win, though not done very frequently. The rules vary slightly in different Canadian Provinces. The one case I found was a couple won 27 million CD and they stayed anonymous.

So your nosy non-winner neighbors cannot keep up with the Jones'.

Enlighten me LP posters on current regulations on remaining anonymous in Canada. If the Caesars Windsor... [ More ]

Comment #1

Raven62 — Tue, 29 May 2018 12:39:50 GMT

Additional Discussion can be found here:

https://www.lotterypost.com/thread/317008

Study: Neighbors of lottery winners are more likely to go bankrupt

Lottery Post — Tue, 29 May 2018 11:47:52 GMT

As if you needed proof that trying to keep up with the Joneses isn't a good idea, here it is: Close neighbors of lottery winners in Canada tended to spend more on conspicuous goods, put more money into speculative investments such as stocks, borrow more money and eventually declare bankruptcy.

The larger the dollar magnitude of a lottery prize of one individual in a very small neighborhood, the more subsequent bankruptcies there will be from other individuals in that neighborhood, says the l... [ More ]