Over the years, we have read countless articles offering advice to lottery winners. While much of the advice is time-tested and straight-forward, we occasionally find unusual suggestions that range from the humorous to the insightful. Here are some of our favorites.

Can I borrow $200?

This suggestion is often presented as a joke, but it might actually be some good advice. When you find out that you have won the lottery, reach out to your friends and family. Ask each one of them if you can borrow $200. Most people will make some kind of excuse about why they can’t lend you the money.

Once word gets out that you have won the lottery, be prepared for the same people who couldn’t lend you money to come asking you for money.

And when they do, just give them the excuse that they gave you.

Burner Phones

After winning a lottery, be ready to be bothered constantly by your friends, relatives, and even strangers to ask for money from you. They think that since the money came easy to you, you should just throw it away. To protect yourself from incessant ringing from media, scammers, well-wishers, purchase a few cheap cell phones and set up a no-contract wireless plan. Destroy the contacts and cell numbers which get out of your immediate circle of pros, family, and friends.

Excess Liability Insurance

Once you have millions of dollars, normal liability situations can become complicated. Before you won the lottery, the guy you bumped in the parking lot just filed a claim against your auto insurance. After winning the lottery, he sees all kinds of liability claims against you. Liability insurance offers extended coverage for lawsuits against you, including accidents which can cost you more than regular homeowners or auto policies cover. This kind of coverage is often referred to as an “umbrella policy”. It is useful in protecting you from things like trip-and-fall lawsuits, personal injury claims, or other exceptional concurrences that could affect your bank accounts and future earnings as well. They are usually offered in $1 million increments and a lottery winner is going to need more than $1 million in coverage as they are multi-millionaires.

Fortunately, buying insurance in bulk can help you save money. After the first million in coverage, the next will cost you about $75 and the next will cost $50 and so on.

Financial Management Course

It is best if the instructor and other students don’t know why you are taking the training. Approach the course as if you were planning on getting certified as a financial planner. This isn’t just to keep from getting unwanted attention, but it also helps put your mind in the right frame.

Blind Donation Trust

When you have a lot of money you want to treat your loved ones and spoil them with all the things in the world they deserve. But, be careful with the size of the gifts you are giving. It could do more harm than good if not dealt with in a thoughtful manner. It ultimately is a responsibility.

One Last Real Vacation

Before you get back to the reality of making plans and decisions, take a break and go on a vacation. It is just the thing you need to clear off your mind. Treat yourself and your loved ones with a vacation you will never forget. Take your dream vacation but be sure to keep your dreams on the reasonable side. We are sure that you’ll just do fine.

Move to a New State

For many people, buying a new house is the first thing they imagine doing after winning a jackpot. If you are ready to load up a moving truck, you might want to give some serious consideration to moving to a state that doesn’t tax personal income. This option can be particularly useful if you are collecting your prize as an annuity. You can even pick from warm states like Florida, Texas, and Tennessee or states that make great summer destinations like Alaska, Washington, and New Hampshire.


You might not look forward to a conversation with the FBI, but when you win your jackpot, it might not be a bad idea to contact the FBI.

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