Every lottery player has often dreamed what they would do with their winnings if they were fortunate enough to win a large jackpot. The prospect of suddenly having millions of dollars makes the most rational mind indulge in flights of fancy. All lottery players at one time or another have dreamed of expensive cars, huge mansions, luxury vacations, and all the things that a lot of money can buy.

As it turns out, for some, winning the lottery has brought nothing but broken dreams and disappointment. Most lottery winners are not adept at money management and in many instances some players find themselves in a financial mess. Take the case of William Post of Pennsylvania. In 1988 Mr. Post won $16.2 million in the Pennsylvania lottery. Mr. Post found himself the subject of lawsuits and as if that wasn't enough his brother was arrested for trying to hire a hit man to kill him so he could inherit his new found wealth. Mr. Post also made several bad business investments and within a year found himself a million dollars in debt. Said Mr. Post, "I wish it never happened. It was totally a nightmare." Mr. Post now finds himself living on $450 a month from Social Security and food stamps.

One of the more well known cases is that of Jack Whittacker who won a $315 million Powerball jackpot in the West Virginia lottery. Mr. Whittacker chose the cash payout option and received a check for $113.4 million after taxes. Mr. Whittacker started out with good intentions donating money to several church based charities and set up a foundation to provide food and clothing to low income West Virginia residents. A month after winning Mr. Whittacker was arrested for drunk driving. His problems spiraled out of control very quickly. Mr. Whittacker spent over $100,000 at a strip club and while at the club thieves broke into his car stealing $545,000 in cash. Thieves then broke into Mr. Whittacker's car another time stealing $200,000 in cash. None of the money in either incident was ever recovered. Mr. Whittacker was the target of numerous lawsuits most of which were settled out of court.

After winning the lottery jackpot, Mr. Whittacker's life quickly spiraled out of control. He became the subject of numerous lawsuits and thieves emptied his bank accounts. For example, Mr. Whittacker was sued by an Atlantic City casino for gambling debts and was sued for wrongful death in the case of a drug overdose that occurred at his home. Mr. Whittacker has stated that he wishes he had never bought that fatal lottery ticket.

Many who win the various lotteries are not sophisticated when it comes to finances and find themselves in financial trouble fairly quickly. Says Susan Bradley author of the book Sudden Money: Managing a Financial Windfall, "People who are not used to having money are fragile and vulnerable, and there are plenty of people out there who are willing to prey on that vulnerability - even friends and family."

Winning the lottery need not be all doom and gloom. There have been some winners who have managed their new found wealth well and many have managed to invest their winnings in such a way that they and their families will be secure for generations. Brad Duke, who took an $85 million dollar payout after winning a $220 million dollar Powerball jackpot in 2005, is an example of a winner who has used his new fortune to provide for his family's long term security. Instead of immediately spending his winnings Mr. Duke quickly assembled a team of financial advisors with the goal of becoming a billionaire in mind. Here is how Mr. Duke has spent his money so far.

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