Things you can do if you ever win a lot of money

What To Do If You Win

According to Wired Magazine, NOTHING.

First, find your winning ticket and sign it. But Wired recommends three steps before going out and blowing your money:

Take It Slow

First things first, don’t do anything. “You want to let the emotional dust settle and you want to give yourself some time to put a plan in place,” says Colleen Supran, a financial adviser and principal for wealth management firm Bingham Osborn & Scarborough. The key, Supran says, is not to go wild. She recommends taking some time to think about what just happened, to let the excitement wear off, and to insulate yourself from the public.

Get Your Squad Together

While you’re deleting your social media accounts and taking stock of who your friends are, you should begin to develop a team of advisers you can trust, including an estate planning attorney, a competent accountant, an insurance agent, and a reputable financial adviser. (In fact, you may even want a few of each.)

Live Your Life

Regardless, everything you do will have tax implications, and your advisers will be the ones who can help ensure that you plot out the impact of your craziest choices as well as help you give smartly to your friends, family, and community. “Everyone you know is going to come out of the woodwork, but there are tax implications to giving people money,” Weston says. “The IRS lets you gift to a person $14,000.” So you could give each person in your family, if you wanted, $14,000 each year (as could your spouse), she says, without having to pay any additional taxes on that money.

Here’s an “I just won money” playlist