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Forbes: 10 Things to Do When You Win the Lottery

7. Live within a budget.

Especially if you’re not accustomed to having a lot of money, it may take some discipline to preserve your winnings and not go on a wild spending spree. One way to restrain yourself is to only spend income–not principal. Especially in today’s investment world, “It takes a lot of principal to generate income and once you start spending principal, the principal quickly dissipates,” says Dennis I. Belcher, a lawyer with McGuireWoods in Richmond VA.

(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.

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