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What To Do When You Win The Lottery

Updated on April 28, 2011

Judging from the comments I have heard from people who bought lottery tickets, not everyone who buys a ticket wants to win the lottery. “I never win.” ‘So why bother buying tickets?’ “It’s too much money.” ‘There’s no such thing as too much money. Don’t believe me? Just ask Bill Gates, Warren Buffett or Carlos Slim (of Mexico).’

I buy lottery tickets because I want to win, and I hope you do too. I have given a lot of thought to what I would do when I win the huge jackpot, and I want to share my thoughts with you.

1. Don’t panic. Take a deep breath, stay calm, make yourself a cup of tea and relax.

2. Tell no one. It will get out soon enough unless you live in a jurisdiction which allows you to remain anonymous, but this is rare. The only exception is your spouse.

3. Sign your ticket and write your name, address and telephone number where indicated.

4. Choose a safe place to keep your ticket but don’t forget where you hid it. Don’t laugh - it happens.

5. If you don’t already have one, have an electronic security system installed in your home.

6. Get an unlisted telephone number. Give it only to your closest family and friends. Tell them it’s something you’ve always wanted.

7. Learn to say “no”. Practice, practice, practice. Also think about what to say to people who ask you for money. “All my money is invested and I’m on an allowance. It really sucks, man.”

8. Book a two week vacation to a place you’ve always wanted to visit.

9. Go pick up your money. Remember to bring two pieces of ID.

10. Keep about $100,000 or so in your checking account and use the balance to buy a 90 day Certificate of Deposit.

11. Go on vacation.

12. When you return from vacation, talk to several financial planners and settle on the one you’re most comfortable with.

13. Stay under the radar and as low-key as possible.

14. Enjoy your money and your life.

Good luck!

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    • Ramsa1 profile image
      Author

      Ramsa1 5 years ago from A citizen of the World

      Thanks for visiting, reading and commenting, Jewels. And good luck!

    • Jewels profile image

      Jewels 5 years ago from Australia

      Excellent advice. I've planned my adventurous life after winning lotto and most of what you have said I would do. I'm going to imagine it more!

    • Ramsa1 profile image
      Author

      Ramsa1 6 years ago from A citizen of the World

      I agree; one has to think and plan ahead. Good luck!

    • Dee aka Nonna profile image

      Dee aka Nonna 6 years ago

      I like the way you think. I too have given a lot of thought to how I would handle things when I win...telling NO one is at the top of my list. I have already started to look at attornies and financial advisors. I have pretty much decided who I will give anonymous gifts to....amounts that will help them but not draw attention, etc. Good Luck to you!

    • Ramsa1 profile image
      Author

      Ramsa1 6 years ago from A citizen of the World

      Thanks LeisureLife.

    • LeisureLife profile image

      LeisureLife 6 years ago from USA

      Sounds like a plan !