Why Lottery Winners Go Broke: The Chimp Brain and Money
Why Lottery Winners Go Broke: The Chimp Brain and Money Money Psychology • Personal Finance Why Lottery Winners Lose Everything — And Why You Might Too It is not bad luck. It is not stupidity. It is a tiny part of your brain making enormous decisions before the sensible part has even woken up. And it happens to people at every income level, every single day. You have heard the stories. Someone wins £4 million on a Saturday. By the following year they have a mansion, three cars, a boat nobody uses, and a whole new circle of friends who appeared from nowhere the moment the cheque cleared. Five years later they are broke, the friends are gone, and they are giving interviews about where it all went wrong. We hear these stories and we do two things. First we feel a tiny bit smug. Then we say “I would never do that.” Here is the uncomfortable bit. You might. Not because you are irresponsible...