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  • We've all fantasized about it.

  • Winning the lottery, getting a huge sum of money, and putting all of your troubles behind you.

  • But does winning the lottery pay off?

  • Does it make you happier in the long run?

  • With the largest jackpots being in the hundreds of millions or even over a billion dollars, there's no doubt that winning would change your life.

  • But what many lottery winners have found is that it didn't change their life for the better.

  • Over 70% of lottery winners end up right back where they werebroke.

  • Here's a few ways that things could go bad for you if you won the lottery.

  • The easiest mistake to make is simply not planning for the future.

  • Millions of dollars might sound like a lot of money but there isn't an infinite supply and it won't last forever if you don't have a plan.

  • Getting an experienced and trusted financial advisor who knows how to handle large sums of money will help ensure that it's there for years to come.

  • Another common problem is spending too much.

  • Everyone, even millionaires, have to live within their means.

  • Fast cars, big houses, fancy vacations, it all sounds great but it can add up fast.

  • Spend without limits and you won't be going on those amazing trips for very long.

  • But maybe the hardest issue to tackle is dealing with your friends and family.

  • It's natural to want to share what we have, helping out our friends and sharing the wealth with our loved ones.

  • Many lottery winners have talked about how hard it was to say no to all the people who came to them after they won seeking help.

  • And many of those lottery winners couldn't say no, even as they gave away everything they had.

  • While there's plenty you can do to help your chances of staying rich after winning the lottery, like laying out a smart financial plan from the get-go, being responsible with your purchasing decisions, and staying strong when it comes to those looking for a handout.

  • The odds are still stacked against you.

  • And more likely than not, after all is said and done, you'll end up right back where you started.

  • If you want to make Fuzzy and Nutz happy, click that like button and subscribe to their channel!

We've all fantasized about it.

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B1 US lottery winning staying financial handout didn change

What If You Won The Lottery?

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    Mackenzie posted on 2019/09/15
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