How to Deal With Winning the Lottery

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Everyone has fantasized about what they would do if they won the lottery. There's the huge house to build, all those bills that can be paid off and the dream vacation around the world. But all that money comes with some big problems and a lot of responsibility. It takes some strategy to deal with winning the lottery.

  • Save some for a rainy day. Of course you'll want to spend your winnings on all the things you couldn't afford before, but if you don't plan ahead the money will be gone before you can say, "Pot of gold." Work with an investment banker you trust and invest a good portion of your winnings into different funds and investments. Setting up an investment plan for you and your loved ones will help that money last for the rest of your life.

  • Know who your friends are. Once word gets out that you're a millionaire, people are going to want to be your new best friend for all the wrong reasons. Having money will draw people that just want part of your wealth and are not true friends so be careful about new friends that could have ulterior motives and make sure that your current friends are trustworthy. Be careful of who you associate with and keep people around you that will help keep you grounded and down to earth about your fortune.

  • Keep it quiet. Winning the lottery is great news, and it's only natural to want to tell everyone you know, but this will attract the wrong kind of people to you and make your new fortune a security risk to you and your family. Keep a low profile so that you do not become a target for criminals and put yourself in danger of theft, robbery or fake friends that just want a loan.

  • Have fun. You won the lottery, so enjoy it! Once you've taken all the necessary steps to make sure that your winnings are safe and that it's been handled wisely, give yourself a break and go have fun. Sail around the world, quit your job, buy a motorcycle or do whatever else you've always wanted to do. Not everyone gets to be a lottery winner so enjoy the fact that you are one of the lucky few.

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