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70% of People Who Come into a Windfall Lose It

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View Ratings | Rate It Headlined to H4 11/29/12

Image from a quicklink The National Endowment for Financial Education cautions those who receive a financial windfall -- whether from lottery winnings, divorce settlements, cashed-out stock options or family inheritances -- to plan for their psychological needs as well as their financial strategies. The Denver-based nonprofit estimates that as many as 70 percent of people who land sudden windfalls lose that money within several years.

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