Sorry you didn't win the big Powerball jackpot last night. But on the bright side, you've still got a 1 in 300 million chance of hitting the Mega Millions jackpot tomorrow. So in other words . . . it's a LOCK.
That one's even bigger, almost a BILLION dollars last we checked. So buy your tickets . . . or be smart and don't. Either way, here are four things you SHOULDN'T do if you ever hit the lottery for a lot of money
1. Don't forget to sign the back of the ticket. It protects you in case someone steals it. So you should sign it immediately. Or if you really want to be careful, sign it now.
2. Don't tell anyone. People will come out of the woodwork looking for handouts. But an even bigger concern is who THEY'LL tell. We've seen horror stories before about people hitting the lottery, then having their house broken into, or even being killed.
3. Don't automatically take the lump sum. As long as you're smart with the money, it makes sense because you can use it to make even MORE money. But the problem is most people AREN'T smart about it. Roughly 70% of people who get a huge windfall of cash lose it or spend it all within a few years.
4. Don't start backing all your friends and family's business ideas. And don't start buying people cars and houses. It's amazing how fast you can burn through cash. Although if you win a BILLION dollars . . . go for it.
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