Now that Powerball will be more than $1 billion, the phone has been ringing over here at the Sudden Money Institute, as you might imagine.
Although some of what I’d advise is the same whether the amount is $1 million or $1 billion, there are also important differences. One of the differences is that the entire developed world is going to want to know who you are, particularly if you are the only winner. Frankly, a much better position to be in would be one of a large number of winners who don’t know each other. As much as you think you like the spotlight, this type of spotlight — and its intensity — could wreak havoc on your life, depending on how you handle the first moments, hours and days after you win.
If you win, here are the first five things to do:
1. Share the news with just one other person. You want to have as much privacy as possible, especially before you claim your winnings.
2. Get a new cell phone number. On