Lottery winners usually have a difficult time adjusting to the lifestyle that comes with sudden wealth. Here are some tips that aim to help them cope with the unwanted attention and dilemmas that result from winning the lottery.
1. Protect your winning ticket. Until it is time to bring it to the lottery commission, keep your ticket in a place where it’s out of reach from other people and safe from spills and other damaging accidents.
2. Tell no one outside your closest friends and family. Confide in people whom you know can keep a secret and who are not greedy or manipulative.
3. Meet with a lawyer. A lawyer can guide you through the legal issues winning the lottery can raise.
4. Rent a hotel room with cash and under an assumed name. This will spare you from the incessant pestering of the press and all your new “friends”.
5. Confirm the ticket with the lottery commission.
6. Meet with an accountant.
7. Go on a one-month vacation. Not only will this protect you from excessive press and public attention, the time off will give you the opportunity to carefully plan your purchases.
8. Calculate your interest. Ask a financial advisor about the interest that can be generated from various investment options and then budget your “disposable income” according to how much you earn in interest each year.
9. If you feel the need to give, find people and organizations you truly want to help and focus your generosity on only them.
10. Pamper yourself. Set limits though. You do not want to keep spending on your whims till you suddenly realize there’s no money left.
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