Would You Survive Your Lotto Win?

How often do you daydream about the moment you experience your first big lotto win? If we are any alike, then at least once a day.

Reactions You Should Consider After a Lotto Win

But have you reached the conclusion about how you’d actually feel in the moment? Internet is full of lucky winners’ reactions right after their lotto win, and you’ll mostly see it’s a very joyous occasion, people laughing, screaming, and crying with happiness. Just recently one lucky winner from Canada said he was even having trouble catching breath: “It is very hard to put into words what my first thought was. I can tell you I could barely breathe”, he admitted.

On the other hand, one unusual reaction became viral, because the man, who had won more than £76 million, was as chilled as possible. He basically phoned the National lottery saying he “thinks he’s won a few quid” and after getting the confirmation those “few quid” were in fact £76 million, he just added: “Yeah…”. You can listen to his hilarious reaction here.

Don’t Be a Jack Whittaker

But there are also different kinds of stories. For instance, Jack Whittaker, one of the most famous lotto winners who won $315 million through Powerball on Christmas morning in 2002 said: “I just was [at] a loss for words and advice. You know, I was really searching for advice, and it’s, like, Christmas Day.” And his words were pretty ominous since he later turned out to be one of the most tragic lotto winners, claiming he wishes he’d torn the ticket because everybody around him was so consumed with greed.

Don’t let that scare you, though. Simply don’t be Jack Whittaker and let his story be a lesson: be prepared for your lotto win. Don’t make hasty decisions right after the win, even if you are in a state of shock (which you probably will be). That is easier said than done, so remember these words now: wait for the storm to blow over before you make any big moves, the money will still be there after the initial shock (unless you do the exact opposite of what we suggest).

It Might be Hard, but we Just Gave You the Tools

On the other hand, we are not here to ask for the impossible, and no matter how hard you try, there is no way you can emotionally (or comprehensively) prepare yourself for that exact moment you win at least for what you’ll say and how you’ll react and feel. But, you can at least be aware of the fact that it will be a unique and overwhelming experience and try and remember that when the time comes.  

Also, be prepared that people will want money from you, there is no avoiding that. It is up to you how you’ll approach this since it depends on so many variables, but one other winner, Sandra Hayes, claims discipline is the key when it comes to surviving your lotto win. And even though it might seem counter-intuitive to you, hear her out: “I know a lot of people who won the lottery and are broke today,” she said. “If you’re not disciplined, you will go broke. I don’t care how much money you have.”

Best Advice There Is

Her advice coincides with both our advice and general advice you’ll hear from diverse financial experts: pace yourself, keep quiet, build a strategy (find a financial adviser) and learn how to say “no”.

It’s not that hard, you must admit, at least it doesn’t seem so. We’ll let you know how hard it really is once we pocket our huge lotto win. You can do it also, just play today.

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