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Lotto winners ‘should take their time with their new cash’ – September 1st 2011

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Lottery fans who win a huge jackpot playing their favourite game have been advised to take it easy when it comes to spending their newly-acquired wealth because splashing the cash so could be so far removed from their ordinary lives that they become unhappy.

Speaking to the Daily Telegraph, Patricia Mock, director of Deloitte, said that her experience of dealing with people who have scooped life-changing lottery prizes is that it is a better option to take things slowly.

“Think about a diversified investment strategy so you’re not putting all your eggs in one basket – what do you really want to invest in,” she commented.

Ms Mock suggested seeing a financial adviser and making a will at an early stage.

Some may enjoy their lottery winnings more if they divide the prize between their loved ones.

Writing for MSN Money, Budgets are Sexy’s J Money said that when it comes to sharing the wealth with family it is a no-brainer and if he did not trust them to spend it wisely themselves he would still buy them a house or a car.

How would you spend your winnings? Play at theLotter!