Winning a Lottery Jackpot: Keep Calm and Don't Panic

Learn how to manage the anxious feelings that can sometimes accompany a big lottery win.
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  • Author:
    William Monroe
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Winning the big prize can be a very exhilarating, exciting, frightening, and relieving feeling. You may become just a tad panicky, though, and possibly anxious and sick to your stomach from the sheer thought of it alone.

You may find yourself sweating, your heart pounding or racing, your body shaking, and thoughts of mansions, yachts, and trips start swirling about in your head.

Keep calm! Do not panic!

You don't want to put yourself into any type of medical situation because of the win. Keep a realistic head about you.

You may immediately feel a giant weight pulled off your shoulders, especially if you have been in a bad financial situation for a lengthy period of time.

Panicking will make you lose sight of reality and set into motion the desire for things that will eat up your winnings faster than a dog getting a slice of pizza.

Curb Your Temptations

You may say to yourself, "I won the lottery! Now I can buy a mansion!" Really? Think about it You may have lived in a small apartment, barely able to make ends meet. But a mansion? You don't need it and it's actually a waste of money. Not even a seven-to-ten-thousand-square-foot home is necessary.

You realistically need a home that is large enough to give you that special feeling of freedom and comfort, but not so big that property taxes eat chunks out of your winnings.

And yachts are not only expensive to buy, but expensive to operate and maintain. You haven't even gotten the money yet, so these dreams are a bit premature.

And cars? You need a new reliable vehicle that will get you to and from points A and B in comfort every time for a long time, not something that costs upwards of $100,000 to $200,000 because of a brand name or design.

Keep Grounded

Don't think luxury and prestige. Think freedom and security. With proper financial advice and good planning, your winnings could take care of you and your family for the rest of your lives.

You need to stay calm and do a mental check. You still have to get the ticket validated for the win. You still need to be declared the legal winner. And, of course, you can't spend one red cent of that money until the full amount or annuity payment gets deposited into your account.

Once you have your money, you still need to stay calm and take count of what you are about to do. It's fine to start buying the things you want and taking the trips you have always dreamed about, but know that every dime you spend is coming out of your winnings.

Until your winnings are making you money from investments or bank GICs, savings accounts, or other types of offerings, your new house and car, and that trip to Europe, are going to come straight from your lottery windfall.

Final Word

So, even after you get your money, you can still be too excited and in a panic to think clearly and keep from blowing your money. Stay calm before and after your win, don't panic about what you're going to buy or where you should live.

Take comfort in knowing that winning the lottery, with calm, exact planning and forethought, will let you and your family live a more free and unencumbered life without the worry of paying bills, having enough money for gas, or needing to repair your roof.

Keep calm, use your head, and enjoy your new life.

If you've won big recently and need advice about breaking the news to your close ones, check out The Family Meeting article!

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