Winning the Lottery? Here’s What Experts Say You Should (and Shouldn’t) Do

The holidays are right around the corner—family gatherings, gifts, travel, and yes, that little flutter of hope every time someone mentions the lottery. It’s fun to dream: What would you do if you actually won?

But before you start spending that imaginary jackpot, financial expert Sergi Torrens says there’s something every winner should know—most lottery dreams don’t end happily. In fact, Torrens warns that 70% of lottery winners go broke within five years.

Here’s what he advises if you ever find yourself holding that golden ticket:

• Stay quiet. “Maximum discretion,” Torrens stresses. Don’t brag, post, or shout it from the rooftops. The fewer people who know, the safer you are—financially and emotionally.

• Don’t rush. It’s tempting to quit your job or buy that dream home, but Torrens cautions against making hasty moves. Take time to plan, consult a financial advisor, and think long-term.

• Hold off on paying everything off. Many experts suggest that wiping out all your loans or even your mortgage right away isn’t always the smartest play—especially if those debts have low interest rates. That money might work harder for you if invested wisely.

• Remember taxes. The government will take a cut before you see the full prize. “You’ll lose about 20%, except on the first $40,000,” Torrens reminds. So don’t start counting on the full jackpot until it’s officially in your account.

Winning the lottery can feel like the ultimate dream—but without a game plan, it can just as easily turn into a nightmare. Take a breath, move carefully, and remember: it’s not just about winning—it’s about keeping it.