- Tax Hacks 2015: 6 Things Sneaky Tax Preparers Won’t Tell You
- Don’t Buy These 7 Things at a Dollar Store
- Will Obamacare Complicate Your Taxes? Not Likely
- Definitely Buy These 15 Things at a Dollar Store
- Ask Stacy: Do I Need a Financial Adviser, or Can I Manage My Money Myself?
- How to Find Old Online Accounts and Destroy Them
The Associated Press talked to some past lotto winners, like Sandra Hayes…
Past winners of mega-lottery drawings and financial planners have some more sound advice: Stick to a budget, invest wisely, learn to say no and be prepared to lose friends while riding an emotional roller-coaster of joy, anxiety, guilt and distrust.
“I had to adapt to this new life, “said Sandra Hayes, 52, a former child services social worker who split a $224 million Powerball jackpot with a dozen co-workers in 2006, collecting a lump sum she said was in excess of $6 million after taxes. “I had to endure the greed and the need that people have, trying to get you to release your money to them. That caused a lot of emotional pain. These are people who you’ve loved deep down, and they’re turning into vampires trying to suck the life out of me.”
Another winner said the money “was to blame for his granddaughter’s fatal drug overdose, his divorce, hundreds of lawsuits and an absence of true friends.” The ones who are eventually happy? They invest their winnings and live frugally.