![]() People who win big lottery jackpots blow their money in a few yearsĬesarini tells TIME that a common misconception is that the more a person wins in the lottery, the more likely he or she is to spend it all.Īn often-cited - but incorrect - anecdote about lottery winners falsely attributed to the National Endowment for Financial Education claims that about 70% of people who suddenly receive a windfall of cash will lose it within a few years. ![]() ![]() Here are some misconceptions about the fate of lottery winners that Cesarini’s study appears to debunk. ![]()
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