Some studies have suggested that up to 70% of lottery winners lose their winnings within as short as a seven-year period. What are some of the reasons that might cause this or cause others who have come into a wind fall to lose it?

a. Some will invest in businesses without requisite knowledge or experience.

b. Some will purchase assets that have high maintenance costs combined with other lavish spending.

c. Some will fail to obtain professional advice on managing the money.

d. All of the above.