Sunday, November 04, 2007

Does Money Solve Problems?

Have you ever thought, “If I had more money, all my problems would go away?” According to an article "8 lottery winners who lost their millions" by Ellen Goodstein, Bankrate.com, there are many lottery winners who are proof that this type of thinking can be very deceptive.

(1)"Winning the lottery isn't always what it's cracked up to be," says Evelyn Adams, who won the New Jersey lottery not just once, but twice (1985, 1986), to the tune of $5.4 million. Today the money is all gone and Adams lives in a trailer.
(2)William "Bud" Post won $16.2 million in the Pennsylvania lottery in 1988 but now lives on his Social Security. "I wish it never happened. It was totally a nightmare," says Post.
(3)Suzanne Mullins won $4.2 million in the Virginia lottery in 1993. Now she's deeply in debt to a company that lent her money using the winnings as collateral.
(4)Ken Proxmire was a machinist when he won $1 million in the Michigan lottery. He moved to California and went into the car business with his brothers. Within five years, he had filed for bankruptcy.
(5)Willie Hurt of Lansing, Mich., won $3.1 million in 1989. Two years later he was broke and charged with murder. His lawyer says Hurt spent his fortune on a divorce and crack cocaine.
(6)Charles Riddle of Belleville, Mich., won $1 million in 1975. Afterward, he got divorced, faced several lawsuits and was indicted for selling cocaine.
(7)Missourian Janite Lee won $18 million in 1993. Lee was generous to a variety of causes, giving to politics, education and the community. But according to published reports, eight years after winning, Lee had filed for bankruptcy with only $700 left in two bank accounts and no cash on hand.

Susan Bradley, a certified financial planner in Palm Beach, Fla., and founder of the Sudden Money Institute, a resource center for new money recipients and their advisors says, "In our culture, there is a widely held belief that money solves problems. People think if they had more money, their troubles would be over. When a family receives sudden money, they frequently learn that money can cause as many problems as it solves."

As the wealthiest man of earth, King Solomon learned that affluence didn’t satisfy. All it did was give him greater opportunity to chase more mirages. People tend to run out of money before mirages, so they cling to the myth that things they can’t afford will satisfy them. Solomon’s money never ran out. He tried everything, saying, “I denied myself nothing my eyes desired; I refused my heart no pleasure.” (Ecclesiastes 2:10)

What can we learn from a person who once had everything his heart desired?

In Ecclesiastes 2:11 Solomon answers this question by writing, “When I surveyed all that my hands had done and what I had toiled to achieve, everything was meaningless, a chasing after the wind; nothing was gained under the sun.”

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