The Rush Slows — But with Decisions to Make!

We have all dreamed of striking it rich in the lottery at some point in our lives. When you play, you likely think of all the great things you’d do if your numbers came up. But then what happens afteryou winthelottery? The jackpot comes with thrills and possibilities, but tens of millions of winners have shared their stories of financial ruin as well as jackpot success. Here’s what every lottery winner wants future winners to know.

Excitement The first thing most winners feel when they realize they winthelottery. And it’s just happiness and shock and disbelief all at the same time. But once the party is over, real life sets in. Many lottery winners have said they wished they had paused to plan before they acted. Give yourself the space to process the win and also get on the phone with some professionals to help you make good decisions.

Privacy is Priceless

Ignoring the value of privacy is one of the biggest things winners of the lottery regret. Suddenly, everyone knows who you are. Friends, extended family, even strangers might come to you for a loan or to help finance a business. Lots of winners who took a different approach wish they’d created a trust or had claimed the prize anonymously, if allowed by state law. The first and most important thing to protect is your identity, and personal information.

You need to Plan your Finance

So, you think once you winthelottery the money will last forever, but it doesn't always work that way. Those winners who failed to hire a financial adviser right away may regret it among other things. Even expenditures like taxes, investments and big purchases need to be thought out. Some winners even end up in debt a few years after their windfall. Smart budgeting, clearing debts and working with trusted professionals can ensure your win delivers long-term security.

Relationships May Change

THE CHANCE You winthelottery, and all of a sudden, relationships can evolve in strange ways. Some friends and family may get jealous or distant; others may get in touch with requests for money. Clear boundaries are important to establish early on. So many winners told me they wished they had known how to say “no” kindly and firmly. Purposefully communicating honestly and openly while standing by those values will provide you with all the relationships you need.

Sudden Wealth Is Overwhelming

Nobody is ever really ready for the emotional effect of a lottery win. The expectation to get everything “right,” the sudden attention and the new responsibilities can all be stressful. Winners frequently say counseling or participation in support groups with others who winthelottery reportedly have helped them adjust. Don’t think twice about doing that for your mental wellness in addition to your financial health.

Giving Back Feels Good

Some of the happiest people who winthelottery say the happiest they’ve ever been was when giving their money away. Creating a fund or supporting a cause that is meaningful to you can be personally satisfying over time. Careful consideration of your giving will help to make sure that your generosity has a real impact - for you and for your recipient.

Final Thoughts

If you are hoping to winthelottery, listen to those who have already achieved success from fantasizing in this realm. Take your time, guard your privacy, seek the advice of professionals and be careful about your relationships and spending. Above all, keep in mind that winning is just the first step – a little planning can go a long way and leave you living a happy and secure life, much like that of a local lottery winner from a small Canadian town.