10 Reasons It’s Good You Didn’t Win the Mega Millions

The $1.5 billion prize might be more of a curse than a blessing.

Unless you are one specific person in South Carolina, you didn’t win the $1.5 billion Mega Millions lottery on Tuesday, Oct. 23. And that might be for the best. As much fun as it is to dream about what you’d do with such an outrageous amount of wealth, there are a lot of reasons you’re better off not to have won:

1. Money Doesn’t Solve Everything

If you have 99 problems, winning the lottery will only solve one. Although it would be nice to never worry if you have enough money on your debit card before you make that big purchase, there might be other things in your life that money can’t improve.

Learn how to turn your finances around and ease your money stress even if you don’t win the lottery.

2. You Won’t Be Deluged With Requests for Help

Many lottery winners are overwhelmed with the number of people who ask them for handouts.

3. You Might’ve Actually Spent It All Had You Won

Although the number of lottery winners who end up broke might be inflated, it’s still a possibility.

Related: 50 Weird Ways People Go Broke

4. Managing That Much Money Can Be a Full-Time Job

You’ll need help to manage your winnings, and you’ll have to find someone you can trust.

5. Kids Can Suffer

Stories of children who were raised in wealth and struggled because of it are not unusual. 

6. Now You Don’t Have to Worry About Problems With Friends

Although true friends will be happy about your good fortune, there could be some who are envious or downright angry about your luck. And you never know who will try to take advantage of you.

Read: 10 Really Dumb Ways Americans Waste Money

7. The Tax Bill for Winning Is Enormous

The cash option for the recent jackpot was $878 million, which would have generated a federal income tax bill of over $324 million.

8. Winners Can’t Always Remain Anonymous

Only six states — Delaware, Kansas, Maryland, North Dakota, Ohio and South Carolina — allow lottery winners to remain anonymous. In the rest, winners’ names are made public.

9. Winners Can Become the Targets of Crimes

Lottery winners have been robbed, kidnapped and even killed for their winnings.

Find Out: 15 Ways Money Problems Can Affect Your Health

10. Now You Don’t Have to Move

Some lottery winners are harassed to the point where they need to leave town to get some peace.

If none of these reasons have you convinced that you’re better off keeping that $2 in your pocket, Wednesday’s Powerball jackpot is estimated at $620 million.

Click through to find out which expenses successful people don’t waste their money on — like lottery tickets.

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About the Author

Karen Doyle is a personal finance writer with over 20 years’ experience writing about investments, money management and financial planning. Her work has appeared on numerous news and finance
websites including GOBankingRates, Yahoo! Finance, MSN, USA Today, CNBC, Equifax.com, and more.