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Portfolio > Alternative Investments > Real Estate

Lottery winner on how he blew £1.8 million

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British lottery winner Roger Griffiths won £1.8 million in 2005, but in just a few short years, he lost it all in what appears to be a classic case of crazy spendthrift behavior wrecking a newfound – and unexpected – fortune. But it is not quite that simple. While Griffiths admits that he did squander a portion of his winnings on celebratory spending, the majority of his losses came from real estate and business investments that went bad when the global economic crisis landed in 2008-2009. At the beginning of his fortune, he could have simply banked a few hundred pounds a day off of his interest, but as he tried to create a larger amount of self-generating wealth, all he did was land himself back in the poorhouse, despite the financial advice he received along the way.