Why Winning the Lottery Could be A Nightmare - WLNS TV 6 Lansing - Jackson | Your Local News Leader

Why Winning the Lottery Could be A Nightmare

While you probably had big plans for how you'd spend the millions of dollars if you won the Powerball on Wednesday night, some say winning isn't as glamorous as you might think.

It's a dollar and a dream but is it worth it?

Ted Feight, Financial Advisor: "I think anything you can do with your money is going to be better."

Feight says the lottery is a fools game.

Feight: "it's probably the dumbest financial thing that anybody can do."

He says too often that dream turns into a nightmare.

Feight: "If you look at all the people who have won, very few have ever been happy and almost all are broke within ten years."

C. Leslie Charles is a motivational speaker.

Charles: "We're wired for the short term, so the tendency is to oh my gosh, I can get everything I ever wanted."

She says many people wrongly believe money will bring happiness.

Charles: "They think there's some outside force that's going to change things wonderfully for them--the real force is within them."

In fact, she says a windfall of cash often hurts relationships when others expect you to share.

Charles: "When that doesn't happen, people get angry - there are rifts in the family, sometimes relationships never get mended the way they should."

That's why Feight says you're better off investing, rather than gambling.

Feight: "Put it in your IRA you get to spend it yourself later, give it to charity- you get to deduct it plus feel good about it."

Because it seems sometimes, a dream is best left to the imagination.

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