In theory, just about everyone has thought about winning the lottery and how great it would be. Many ecig fans use the money they’re saving to play the lotto or Powerball Jackpot with the hopes of winning a few million dollars. And unless you have been living under a rock, you likely know that the Powerball Jackpot reached $1.5 Billion this week. The winning numbers were drawn Wednesday night and while winning a few million dollars sounds exciting, receiving an amount as large as $1.5 Billion could end up being more of headache in the long run.
Here are five reasons why you should be happy you didn’t win the Powerball Jackpot for $1.5 Billion:
Almost half of your winning prize goes to taxes, attorney and accountant fees – Depending on what state you live in, Wednesday night’s Powerball winner will immediately be left with a major reality check: about half of that $1.5 Billion, or roughly 50 percent will first go to Uncle Sam for federal and state taxes. The amount of taxes you pay also depends on whether you take the lump sum all at once, or get annual payments for the next 30 years of your life. The financial and legal side to winning a huge sum of money and managing it wisely for the long-run is complicated. You would need to find, interview, hire and work with a reliable team of lawyers and accountants to protect such a lump sum of cash. Make sure you’ve got your ecig or vaporizer supplies handy; you’ll need them to deal with the stress of vetting those tasked with managing your winnings.
You will likely get stalkers – We know this may sound a little outrageous, but when people find out someone they know has acquired a large sum of money almost overnight, many individuals start acting irrationally. Depending on what state you reside in, the winner will have to claim their winning ticket under their own name; some states allow for individuals to set up a trust or limited liability company to claim the winning cash prize. If you live in a state where your name would be public record, we can guarantee that you would likely be dealt some major headaches from people you barely know! Your personal information would be plastered across every media outlet, on and offline, across the country and your privacy would be non-existent (and for a stealth ecig user, this is the ultimate nightmare!). While being the winner can bring a lot of exciting moments, it can also garner a lot of unwanted attention from all kinds of people. Opportunists, distant friends or even family members could easily find their way into your life causing more grief than happiness, whether you enjoy your ecig discreetly or not.
Anxiety, stress and loneliness can take its toll – As one poet by the name of Notorious BIG said, “more money, more problems.” In all seriousness, if you were to win $1.5 Billion, your mental state would likely suffer from the shock and imminent change. Such huge fluctuations could lead to severe anxiety, stress and even loneliness (not to mention a higher strength nicotine for your ecig). If you end up feeling as if everyone is trying to get something from you, you run the risk of feeling isolated. When mental illness occurs, many people, including past lottery winner,s have turned to illegal substances to deal with the stress and pain.
People will try to take advantage of you or ask for a handout – Most lottery winners will do their best to share their wealth by buying their parents, children or close friends cars or homes or an ecig shopping spree, which is understandable. If you were to win and your name became public, everyone from your Facebook friends to long-lost college acquaintances would likely contact you looking for a handout. Being unable to give everyone a significant chunk of your winning prize may ultimately cause a lot of friction.
Frivolous lawsuits – As soon as the world knows how much cash you have just won, every person you have ever had a conflict with may try to sue you to get a piece of your cash prize! The stress of not being able to trust people and dealing with frivolous lawsuits can ultimately cause severe depression and anxiety.
We know everyone fantasizes about winning the lottery some day, but when you really take a minute to analyze all that winning huge sums of cash over night comes with, it may leave you questioning, “is the money worth all the stress?” Tell us in the comment section below if you played the Powerball Jackpot and if so, did you win anything? Make sure to share this blog post with your friends on Twitter and Facebook!