Once you’ve won a big prize from the lottery, you may think that all the hard work is done. However, you’d be quite wrong! There are many documented cases of people who’ve hit it big only to lose their fortunes through bad deals, unhealthy living, selfish acts, and other unfortunate events. So if you want to be a lottery success story, and avoid the famous “lottery curse” that seems to always make it to the front page of newspapers, here are some tips to help.
Get a lawyer or financial planner
Before going public with your lottery winnings, it’s a great idea to talk to a lawyer and a financial planer. Certain lawyers specialize in lottery winners and how to best begin a wise life that will make the most of their winnings. Remember, the ultra-rich (millionaires and billionaires) got that way by being wise with their money. They’ve had their wealth for a long time. You, on the other hand, as a new lottery winner, are thrust into the role of ultra-wealthy, without having the years of experience that others may have had. This is why a lawyer can give great advice and be a great help as you begin your new life.
A financial planner is also an important person to talk to. They can help you make the decisions early on in your life to ensure that you never have to work again. If you make wise investments with your lottery winnings, instead of spending it foolishly, you will truly be a lottery success story.
Focus on your dreams
Winning the lottery is something that most of us dream of doing. So now that you’ve won, what do you want to do with your winnings? Maybe you’ve always wanted to travel. This is now your opportunity to become a world traveler. Or maybe you’ve always regretted that you weren’t able to go to college. You now have the opportunity to get that degree! Making a list of all of your hopes and dreams can help you to find the best path to achieve them.
Also, think beyond just things to buy. Sure a new car or dream home will be nice, but think more about lifestyle changes rather than new toys. Most people don’t love their jobs, but find it nice to have a hobby to take up time. Your hobby can now become your full-time career, if you wish it. Being happy means spending your time doing the things you love.
Learn how to say “No”
When you make a big win at the lottery, you will hear from friends you haven’t spoken to in years. You will hear from cousins that you never knew existed. You may even hear from complete strangers! How did everyone find you all of a sudden?
Most state lotteries make their winners public. It’s in their terms of service that winners must be willing to go public. They do this for a number of reasons. For one thing, it’s a great promotional device and it generates interest in the lottery. It also proves that the lottery is a fair draw and that there is no cheating going on. The flip side of this is that having their names made public puts a target on many lottery winners’ lives. As a new lottery winner, you will have to learn how to say “no” to the many requests that will be coming to you. If you have a hard time doing this, then you will be easily taken advantage of, and pretty soon you’ll find your fortunes dwindling.
One alternative for those who may not be looking forward to a life of public scrutiny is to try their hand at online lotteries. The relative anonymity provided by winning online means that a big winner can still remain relatively anonymous. If you’ve always dreamed of having it all, but you’d like to still live the life of a regular Joe, then you may want to try your hand at online lotteries.
Give some back to charity
Even though you’ll have to say “no” to a lot of greedy people trying to take advantage of you, you may find that you are interested in giving back to charity. Many millionaires and billionaires have done great things with their donations, whether it be to hospitals, colleges, or other non-profit organizations. You can even donate your time! Even though it sounds crazy, many millionaires and lottery winners do it. (If you don’t have a regular job anymore, or only work part-time as a result of winning the lottery, you may have a lot more free time to share and may find that you enjoy volunteering tour time).
If you do decide to give to charity, do your research first. You’ll need to find out what your interests are and how you’d like to see your money spent, so make a list about which charities interest you. You can even research your favorite charities to see where they spend their money, how much of each gift they receive is used for charity, and other facts. This information should help you decide on a few worthy charities.