You Win Some, You Lose Some: Lottery Winners Who Lost Everything

Suzanne Should Have Hired a Financial Advisor

When Suzanna Mullins won $4.2 million the lottery, she chose to get yearly payouts as opposed to a lump sum. But when she found herself in debt, she took out a loan for $198,000, knowing she would get another payout soon. However, when the rules of the lotto changed, she found that she could switch to the lump sum. She did so, and without paying back her debt. The company who gave Mullins the loan sued her and won $155,000 which left her broke. If she would have spent a little bit of her winnings on a financial adviser there’s a very good chance Mullins would never have lost all of her money so quickly.