The Truth Behind Winning A Lottery Jackpot
Winning the lottery may sound like a dream, but the truth behind becoming rich overnight might not be as glamorous as some might believe…
Lottery players everywhere dream of grabbing the winning lottery ticket for a massive jackpot. However, if a player isn’t careful, there’s a dark side to coming into a windfall of sudden wealth. So what is the truth behind winning the lottery?
Current research has suggested that lottery winners are more satisfied with life than those who lost the lottery. This happiness was also suggested to be lasting. But, if not handled with care, winning such a huge sum of money might cause unwanted side-effects.
Here are some facts about the current lottery craze:
- The average American spends $207 a year on lottery tickets.
- Chances of winning are very slim, with the likelihood of getting struck by lightning twice more likely!
- Winning is a life-changing moment that can cause stress or excitement but can also lead to rash decisions.
What should happen when a person wins the lottery? Here are a couple of tips:
- If a person does win, the next step is to turn it into the local lottery commission.
- Hiring an attorney, a tax specialist, and a financial adviser should be a winner’s next priority
- A good financial team can help a winner make smart financial decisions and help plan for the future
- Remember, prize money is always taxed. A winner won’t pocket all the funds they win.
- Sometimes, a winner may have to split the prize with other winners.
What happens when people don’t play by the rules or don’t prepare properly?
- Winners have landed themselves in trouble for not splitting the jackpot with colleagues or friends who contributed to the winning ticket purchase.
- Many people experience a ‘honeymoon stage’ of wealth which quickly turns into a nightmare.
- Although most do, winners should not let the prize money dictate how their lives change e.g. quitting a job they like
- Winners sometimes feel lost and, to avoid this, should explore what they want their new lives to look like and creating a strategy that uses the money to help them achieve this.
- People can take advantage of winners, even friends, and family.
- There is a higher risk of being robbed and going bankrupt, so winners must stay alert
It is obvious that winning the lottery could change someone’s life for the better. However, if a winner doesn’t have a solid support network or clear head, they are in danger of some serious pitfalls. If you win, make sure to prepare accordingly!
