For Evelyn Adams, easy come, easy go. Lottery prizes made her rich, but financial ignorance doomed her.
The story of Evelyn Adams is one of a kind. In October 1985 he earned 3.9 million dollars with a lottery ticket and just 4 months later he won 1.4 million more with another ticket. Luck was definitely on his side. By winning, you chose to receive the prize on a monthly basis, that is, US$218,000 per month for 20 years.
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Although he took precautions, tried to invest his fortune and get financial advice, there were bad decisions that made him lose every penny. He said that between loans to family members, failed ventures and gambling addiction, 20 years later he was bankrupt.


The story of Evelyn Adams, the American who was a billionaire when she won the lottery but was left broke
With your first payment, Evelyn decided to pay off some of her debts and start investing in a college fund for his daughter. The next expenses were a car and gifts for his family members. He also planned to return to studies, because he had never been able to go to university. He wanted to open a music store but never got around to it.
Also, he began to take financial education courses to manage your income. But by 2006, his money was gone. The end was a consequence of a series of failed businesses and above all his addiction to gambling. Although he claims not to have wasted a million dollars, he confesses that he does not believe he was that far away.
Another of his bad decisions, analyzed today, was to give loans to all his relatives who were not able to pay them back. Not knowing how to say no was one of what he considered his worst mistakes. According to her, she regrets how she handled herself and believes that today she would have the experience to make better decisions. Today he lives in a mobile home.
Source: Ambito

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