For the first six months after you win the lottery, don’t do anything drastic, like quitting your job, buying a McMansion, or trading up for a luxury car. Meanwhile, set aside a fixed amount for splurges—it’s only natural to want to celebrate your windfall.
Save the big purchases for later. For example, you could rent a house in the neighborhood where you were thinking of moving, before you make any commitments, says Guerdon Ely, a financial planner in Chico, Calif. If you need a new car, buy a budget model for now.
(iStock) More from Forbes
: The Biggest Lottery Winners Ever 15 Top Foreign Retirement Havens The 25 Best Places to Retire The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.