Tips for Winners of Huge Jackpots!

Posted on Monday, October 12 2020 @ 16:27 CEST by Thomas De Maesschalck
The statistics for how many winners of huge lotto jackpots go on to lead prosperous lives are surprisingly negative. In fact, the majority of winners squander their newfound wealth within years and end up in even worse positions than they started with.

Of course, everyone thinks that they won’t be so stupid. However, when they are faced with an actual win of that magnitude it’s a whole new experience that can be overwhelming. To avoid making the most common mistakes, we’ve put together this list of tips for lucky winners of massive jackpots.

Tips for Winners of Jackpots – Remain Anonymous
We know it can be very tempting to share your good news with all your family and friends. However, the first thing every jackpots winner should do is avoid telling everyone that they’ve won. This is extremely hard to do, but it’s a must.

Depending on the size of the jackpot, you’ll be approached by newspapers and online outlets that want to share your story. This will put your identity out there for all your friends and family to see, who may soon come to expect handouts which will diminish your funds. On a more extreme level, you could be dealing with jealousy, threats, and more.

Remain anonymous until you follow all of the steps to come.

Get Advice
Your first step as a new jackpot winner is to seek legal advice. Find someone you feel you can trust to dispense with legal and financial advice. Someone who will keep your best interests at heart and work with you to deal with all of the legal aspects of your big win. This extends beyond legal implications and encompasses tax and accounting services. All of which will help you to cover your taxes and manage your funds properly.

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Don’t Quit Your Job Right Away
This is one of the main fantasies that fuel online slots players that visit sites like Jackpot City NZ. It’s a given that you imagine quitting your boring day job because of your newfound wealth. However, don’t do it right away. Even if you detest your job, it will help you to stay grounded and view your win more practically if you hold on until you set your priorities straight.

Don’t Go on A Huge Spending Spree
This won’t be easy to resist, but you absolutely shouldn’t go on a huge spending spree and buy everything in sight. This sets a very harmful tone for your life and is a very dangerous habit to kick once you start.

Spending your wins this way is a very slippery slope that will continue until you are left with nothing. In fact, this is the number one reason lottery winners end up with nothing within years of winning.

Establish Your Priorities
Take some time to establish what’s important and what’s not important to you. Coming into a large amount of money means you have new options for investing and enjoying life. But if you don’t know what you really want, you’ll end up throwing money away on things that don’t bring you joy.