Most Lottery Winners discover that money does not make you happy

CNN is reporting...

After nobody won Saturday's Powerball top prize, the potential jackpot has swelled to an even more monstrous amount. The potential Powerball jackpot has now climbed to $620 million for Wednesday's drawing. That means that Tuesday's Mega Millions and Wednesday's Powerball jackpots combined are roughly $2.22 billion.
It sounds amazing to win a lottery jackpot that large, but research proves that if you win and after everything is said and done you may not be so happy. If you don't believe me, CNBC has reported that...

Studies found that instead of getting people out of financial trouble, winning the lottery got people into more trouble, since bankruptcy rates soared for lottery winners three to five years after winning

The report went on to state...

Many winners struggle with suicide, depression and divorce.

With all that said, winning the lottery sounds awful, but there has to be a way to avoid that sorrow and heartache. I did some checking around and Forbes had some positive advice on to handle winning tons of cash.

  1. Remain anonymous if your state rules permit it.
  2. See a tax pro before you cash the ticket.
  3. Avoid sudden lifestyle changes.
  4. Pay off all your debts.
  5. Assemble a team of legal and financial advisers.
  6.  Invest prudently.
  7.  Live within a budget.
  8.  Take steps to protect assets.
  9.  Plan charitable gifts.
  10.  Review your estate plan.

If you play, good luck (and not just on winning, on remaining happy).


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