Irish winner in Euromillions 175 million..

dxhound2005 wrote: »

There are plenty of people with a lot more than €175 mill. It can't be that hard to manage.

And the vast majority are either born to it, or they made the money themselves DX. That's a huge difference between those people and lotto winners. If you had it by fluke of birth, then you've grown up with it, in a family and life structure that understands what it is and how to manage it and how to keep hassle at a distance. If you made it yourself, it wasn't overnight, so you had time to grow into it at every level from "wow, I have extra money" through to "money makes money" through to "money personally has no real impact beyond managing it"(another huge aspect) and how to keep hassle at a distance.

In either case it wasn't overnight and though they have beggars around them and self made folks usually have huge entourages, they've grown into managing all that. Lotto winners of this magnitude simply don't have that. At this level money is not just something you've lots of to spend.

One good thing seems to be emerging. It's a family syndicate and it'll be broken down into more manageable, less crazy shares. It'll almost certainly cause familial problems, but not nearly as big a burden as a lone winner with a load of family and friends.

I remember reading the tales of a solicitor cum financial advisor(in the UK IIRC) who had advised lotto winners for many years. He had all sorts of stories, many of which involved stress and friends and family fallout. Divorce was extremely common. He was asked if he'd like to win big on the lotto. His reply was he would love to win around the 1-10 millions level, but of the 40-50-100 millions level, no way. He said of such a win, he would love the first six months after the initial hubbub died down, but before the crazy leaked in.