MONDAY SCHOOL for July 30, 2017, #4.1

MONDAY SCHOOL for July 30, 2017, #4.1
from The Place Of Prayer In The Normal Christian Church Acts 2:42 And they devoted themselves to … prayer.

QUOTE #1:  [1]

QUOTE #2: Indeed, the Certified Financial Planner Board of Standards says nearly a third of lottery winners declare bankruptcy—meaning they were worse off than before they became rich. Other studies show that lottery winners frequently become estranged from family and friends, and incur a greater incidence of depression, drug and alcohol abuse, divorce, and suicide than the average American. No wonder financial planners joke that if you have enemies, give ’em a lottery ticket. [2]

QUOTE #3: In fact, about 70 percent of people who win a lottery or get a big windfall actually end up broke in a few years, according to the National Endowment for Financial Education. How is that possible? “People who were little, ordinary people all of a sudden become extraordinary,” said Steve Lewit, CEO of Wealth Financial Group in Chicago. “They’re euphoric. They lose all sense of reality. They think they’re invincible and powerful. They think they’re Superman.”

The biggest problem, several finance advisers agreed, is that lottery winners give away too much money to family and friends. “Once family and friends learn of the windfall, they have expectations of what they should be entitled to, and many of these expectations are not rational,” said Charles Conrad, senior financial planner with Szarka Financial in North Olmsted. “It can be very difficult to say no.” [3]

QUOTE #4: According to a 2010 study by researchers at Vanderbilt University, the University of Kentucky and the University of Pittsburgh, the more money you win in the lottery, the more likely you are to end up bankrupt.

The authors divided past lottery winners into two separate groups: Those who had won cash prizes between $50,000 and $150,000, and those who had won $10,000 or less. What they found is that those who had won the more sizable sums were more likely to have filed for bankruptcy five years later. Similar research from the National Endowment for Financial Education estimates that 70 percent of people who had unexpectedly come into large sums of money ended up broke within seven years. [4]

QUOTE #5: Often lottery winners are betrayed, even murdered by family members and trusted friends. [5]

THINKING IT THROUGH
What gets your attention? Why?
What is the human need or problem here?
What is that like?

SOW: What does it SAY?
What does it say that I should OBEY?
WHO needs to hear this?

What is the divine solution?
How can we visualize it?

How can we make it happen? What are the steps?

RESOURCES
The image is from Pixabay.

FOOTNOTES

[1] This post is based on the sermon series: The Normal Christian Church – Acts 2:42 And they devoted themselves to the apostles’ teaching and fellowship, to the breaking of bread and the prayers. Sermon #4 from The Place Of Prayer In The Normal Christian Church Acts 2:42 And they devoted themselves to … prayer.

[2] Why So Many Lottery Winners Go Broke by Ric Edelman, Jan 15, 2016 http://fortune.com/2016/01/15/powerball-lottery-winners/

[3] Why do 70 percent of lottery winners end up bankrupt? Posted on January 14, 2016.  http://www.cleveland.com/business/index.ssf/2016/01/why_do_70_percent_of_lottery_w.html

[4] Riches to rags: Why most lottery winners end up broke, GoldenGirlFinance.com, April 22, 2013. https://ca.finance.yahoo.com/news/riches-rags-why-most-lottery-winners-end-broke-180227163.html

[5] Curse of the lottery: Tragic stories of big jackpot winners by Nicole Bitette, NEW YORK DAILY NEWS Updated: Tuesday, January 12, 2016, 9:19 AM.  http://www.nydailynews.com/life-style/tragic-stories-lottery-winners-article-1.2492941

 

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