There have been several sad stories of lottery winners who basically squandered their lotto prizes in less than a year. Some end up even poorer than before. Not only have they lost their money but also their families. If you are a wise person, you do not spend your money immediately but instead find ways to invest it.
Set up a business. A business can provide you money security. If you do not know how to set up a business, get a franchise instead. The franchise would usually teach you how to run the business, the accounting and other business matters.
Another form of investment you can take is real estate. Buy a piece of land in a good location and then build a building. Rent out this building so you can get income every month. Some buy a condo unit and rent it out.
Also be aware how you spend your money. Hire an accountant and even a lawyer. Seek their advise. Just make sure that your accountant and lawyer are trustworthy.
Winning the lottery is once in a lifetime event. Do not waste that opportunity by having nightly parties, mall shopping and spending spree. Maintain a simple lifestyle. Once your business starts growing, then that would be the time you spend more.
http://community.gmanetwork.com/articles/2013-05-03/40/Lotto-winner-who-squandered-P14-million-prize-in-three-months-tells-story-in-Magpakailanman
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