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In need of a Money Coach?
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My Ten Sense: What to do if you win the lottery
More than likely you weren’t one of the three winners of the world record $640-million Mega Millions jackpot this weekend. But that’s ok because now you have time to prepare yourself mentally, socially and financially for when you win the lottery some day.
I’ve done a lot of soul searching myself about it because I’ve read about the many previous lottery winners, including $315 million winner Jack Whitacker, who lost it all.
So if I were you, this would be my approach to the lottery:
Before you even purchase a ticket, prepare yourself mentally for how your life will change if you win.
Decide whether 15 min of fame is worth a lifetime of anguish when people find out that you have won.
If you know you won’t be able to handle the attention and scrutiny and you won’t be able to turn down the many requests you will certainly get for money, you should research blind trusts to learn how to claim your winnings without disclosing your identity.
Think about what you’ve always wanted to do. Think about where you want to live and do research on how much your new life will cost you to maintain it.
Read more of my tips on how to prepare before you win the lottery and also see my video of what to do if you actually win the lottery on my blog, http://mytensense.com/2012/04/what-to-do-if-you-win-the-lottery/
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