Once famous lottery winner now broke

The New York Daily Newshas a cautionary story worth reading, especially to anyone who has come into a bit of money lately.

Consider the story of Lou Eisenberg, who became a $5 million lottery winner in 1981, at the age of 53, and who today is 81-years-old and living in a mobile home, his lifestyle funded by a small pension and Social Security. He makes $250 a week.

lou eisenberg original
lou eisenberg original

When he hit the jackpot 30 years ago -- and $5 million was the biggest lottery payout at the time -- Eisenberg briefly became a household name (and the envy of every households as well). At the time he was a humble lightbulb changer, earning $225 a week changing bulbs in a midtown office building. The media loved his rags to riches tale. Chatting with Johnny Carson or Regis Philbin, they called him "Lightbulb Lou," or "Lucky Lou."