Financial Planning Experts Say Mega-Lottery Winners Aren’t Financially Savvy Enough To Pour Their Payouts Into Facebook Stock At $38 A Share

Lamar Fallie of ChicagoCOLUMBIA, Mo. – So you just won the $550 million Powerball jackpot, the second highest in lottery history. Now what? Perhaps it’s time for a tropical vacation or a new car. There are bills to pay, loans to settle, debts to square. 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.”  (read more at Portland Press Herald)

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