Mega Millions fever is here. A record jackpot of $1.6 billion is waiting for some lucky gambler on Tuesday’s Mega Millions lottery drawing.
There’s nothing like the feeling of getting an unexpected sum of money. Of course, every coin has two sides and, typically, the greater the amount you receive, the greater your stress. In fact, there is even a stress-related disorder called Sudden Wealth Syndrome. That pressure can lead the “recently rich” to make decisions that ultimately threaten their good fortune and may leave them worse off than before they received their windfall. We’ve all heard stories about the lottery winners who went broke or the former professional athletes or entertainers who struggle to pay rent.
Whether you’ve just signed a multi-million dollar contract, won the lottery, or inherited property from a wealthy relative, here are some tips that will help you keep–and grow–your wealth responsibly.