Lottery's biggest winners, losers

POSTED: 07:23 AM PDT Mar 28, 2012    UPDATED: 09:08 AM PDT May 04, 2016 

While being made an instant millionaire was a dream come true for some, for other winners of huge lottery payouts, money truly did not buy happiness.

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Bill Pomeroy, a certified financial planner in Baton Rouge, La., has dealt with a number of lottery winners who went broke. He told Bankrate that many winners make the mistake of thinking they know what they're doing. "They are willing to plunk down large sums on investments they know nothing about or go in with a partner who may not know how to run a business," he said.

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