If you browse the web for articles on winning the lottery, your biggest problem will be knowing which one to read as you’ll be spoilt for choice. As it turns out however, there aren’t too many people out there telling how NOT to win the lottery, which is what we’re going to do today. If you’re smart with your big win, you and your loved ones will have amazing lives and will be financially stable until the end of your days. If however, you are reckless and aren’t smart about things, you could land yourself in some very hot water. Here’s a look at what not to do when you win the lottery.
Don’t give up the day job
You’ve no doubt heard the expression ‘don’t give up your day job’ but as it turns out, that is sound advice when you win the lottery. For many people stuck in jobs they hate, working for bosses they despise, one of the most appealing aspects of winning the lottery is telling their boss where to stick their job. However, just hold off if your numbers do come up. In the UK, Roger and Laura Griffiths were lucky enough to win £1.8 Million. The couple lived it up, spent big, and actually tried to become Rock Stars. Seriously. Soon the cracks began to show and one day Roger upped sticks and left Laura not only penniless, but also in huge amounts of debt.
Make smart investments
One of the first things you should do when winning the lottery, is speak to a financial advisor, who may recommend you invest your money so as to tide you over for the rest of your life. In terms of smart investment choices, gold is a great one, as is property, wine, and art. Crystal Meth however? Hmm, not so smart. In the US, a man named Ronnie Music Jr won $3 Million, and presumably after watching too much Breaking Bad, he decided the best way to invest his money would be in Crystal Meth drug ring. Not surprisingly, Ronnie was arrested and was locked behind bars, presumably having his assets seized.
Be careful with donations
Giving to charity is a wonderful thing to do, but if you are going to give to charity, just make sure you’re smart and manage your money. In the United States, a South Korean lady with a heart of gold named Janite Lee, won herself $18 Million on the lottery. She soon started making enormous donations to charities, mainly those in the political and educational sectors. She was recognised for her generosity and even sat down for dinner with Al Gore and Bill Clinton. Unfortunately, she was too busy helping others she failed to help herself. A few years later her $18 Million was gone and she was forced to file for bankruptcy with debts of more than $2.5 million. Ouch.
Don’t forget to buy a ticket
If you don’t want to win the lottery, then the best way to go about things is to not buy a ticket. As the saying goes ‘you have to be in it to win it’ so don’t forget that ticket, unless you don’t want to win.