You hear these stories all too often. There are lottery winners who hit the big jackpot, but don’t have the money management skills to keep from going broke. Some of them are worse than the NBA athletes that we read about in the newspaper.
When you think about broke lottery winners, you now have to add Sharon Tirabassi to the list. Sharon won the $10.5 million jackpot in Canada 10 years ago. Now, the poor lady is broke, riding the bus to work everyday.
Sharon is 35-years old, with six children. She says that not having a financial adviser is what put her in the poor house. She also says that her spending was out of control, and that she fooled herself into buying a fancy car, a big house and an expensive wardrobe. A few expensive vacations and lavish parties later, the poor woman is now borrowing money from her friends.
Sharon says that she wasn’t prepared for the life of a millionaire. Sharon married her husband Vinny in 2006, a man who added three kids to her six. The two agree that money can cause more problems than it solves.
Vinny said to 234Daily, “Money doesn’t buy you happiness. It caused her a lot of headaches,” he says. “She lost a lot of friends, a lot of family.”
Vinny’s legal bills might have also contributed to the family problems. He went to prison for 18 months for driving while impaired and causing bodily harm. The family eventually lost their home, which continued their downward spiral.
When Sharon is not riding the bus to work, she rides her bike. The family does have one car that they drive, but it needs repairs that they can’t afford to make.
Sharon’s advice to other lottery winners? “Try to keep it to yourself. Keep it to yourself and don’t trust anybody but family.”