If Only I Could Win The Lottery

Lotteries in Canada are probably the highest tax rate there is. The purchasers, on average, win less than 1/2 the money that they spend. More than 1/2 goes to expenses and government coffers.

But almost everyone dreams of winning the big one, even Grandpa Richard.

So, what is it like to win millions of dollars?

I have read several articles about winners who went from bust to boom and back to bust. Too much money all at once can be a disaster for a person not used to that much cash.

Another recent winner was inundated with requests from charities, and their kids suddenly had 50 times as many friends.

A lady from southern Ontario had a disagreement with her sister over how much was fair to share, and they did not speak to each other for years.

Careful what you wish for.

Couple collects $50M lottery win
A 36-year couple from Oshawa, Ont., has picked up a lottery cheque for $50 million. Linda and her husband Don Ingram won the fortune in a draw last Friday, but they had to wait to get their cheque because she had no photo ID. …

One Comment

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