when a person who wins a lottery jackpot, they start to live like the hollywood stars. not realizing that they have no source of income other than the interest earned from the jackpot. later that interest earned is not so big, because there is something called capital gains tax and also because the lottery winner purchases big ticket items, the interest earned is not so big. of course this is after they quit their job and told their boss to f-off.
Some people yes. Others give it all away to charity as in one case in NS. Others plan.
With exception of course, it seems that the lotto doesn't change people it just makes them a bigger whatever they were before.
A douche becomes a bigger douche and ends up spending it or giving it all away in an attempt to buy friends [knew someone who lived that way without a lotto win, spent his pension buying friends, sad story]
A charitable person will often become a giving machine.
I would say that if you look at the whole of the lotto winner groupings, sane and reasonable people will generally not have problems.
Whenever you hear of someone who shits away a lotto win, it is rare that they were winning in life beforehand. Again as always, exceptions.
I simply took issue with your contention that we are all on crack. Much of the spending ideas presented are not excessive on a massive lotto win.
That being said, I think those lotto that give out X dollars for 25 years or so are an astoundingly dangerous thing.
Get X bucks up front and you can plan accordingly. Give someone 100K a year for 25 year and there is a subsection of those who would plan with a big price but in this situation would live at the 100K level, slowly get in trouble as inflation eats away their spending power ending up 25 years later broke and with no employment history. What percent, I don't know.
-----
Also, although this does not address the original topic of the realism of above spending plans, there are some people who just are not driven to spend like mad.
If I were happily married to someone with my tastes, it would be really hard to churn through a big win.
I prefer a small abode. Small bedroom, a second one for some gym stuff, kitchen, shitter, Living room with a modest TV. I live in a 1000 sq foot home now [2000 with basement] with one person and it is insanely too much space.
Not a fan of restraunts, my home eating habits are easy to make or unprepared. Food bill would go to maybe 200 a month for me adding red peppers, daily blueberries.
Not a fan of travel. A monthly road trip would be fine.
If I lived in downtown Toronto a small car easy to park car would be my preference renting for road trips, if I lived in a place with space, Lexus LS 460 is more than enough.
A cleaning lady a few times a week is in excess of my needs. If I had cats, someone to come in twice a day to clean the shit [WTF did we lose a war]
My interests revolve around reading and I prefer to use the library for that.
None of this except for the cleaning lady is beyond the realm of luxury living and would leave as the biggest problem what to do with the excess and there would be a lot.
However if I am paying for Coitus, well that expands the needs a bit, but as some say, after a while you get sick of anything if you have too much of it. Who knows. Would I like Sarah Silverman says about weed "Keep it a treat" or try to spend my last 20 dollar bill as I keel over from a heart attack during a lap dace at the nudie bar on principle probably via use of an annuity. For 50 million, I don't think I could actually consume that much vagina. 2 hours a day for 50 years at 10 mill... I do have other interests.
My paternal units are/were the same way. I can't see them spending to the hilt.