 Statistics show that over 70% of lottery winners get back to being broke after a few years. The reason is that they have never had to handle such amounts of money. So, they get so overwhelmed that they end up wasting all the money in no time. Don't get too eager to spend your massive lot. Watch this video till the end and gain insight about 13 things you should do if you get rich all of a sudden. 1. Get a reputable financial advisor When most people get rich, the next thing they think about is getting in touch with stockbrokers and investors. But you must try to avoid them. It would help you if you also avoid people who would try to sell complicated financial products to you. Instead, get yourself a financial advisor from a reputable firm. With the aid of a financial advisor, your money will be regulated. Given the right information, usually from you. A financial advisor will know the mix of stocks and other asset classes that are appropriate for you and your future. A financial advisor will also help you create and monitor your budget. 2. Decide if you want to be paid at once or through time. This is a crucial decision to make. You ought to decide if you are going to get all your new money upfront or you want to create an annuity stream of payments. Although this is not the case for all forms of ways money comes to you rapidly, it applies to schemes like lotteries where winners can decide to spread out payments over 30 years. It also works for scholarships and medical and legal judgments. Before you choose the path you want to tread, make sure you speak to your financial advisor and a legal practitioner. 3. Open a separate account Once you have gotten the money, you have to let it rest in your account for a while while you make preparations on how best to manage it. Some financial advisors will advise you to leave it untouched for at least 6 months. But whether it gets to 6 months or not, one thing you must do is to keep it in a separate account. Different from the one you usually run. Letting it remain in your regular account might nears you into spending it and before you know it, you finish it without being able to account for how you spent it. 4. Keep it to yourself When friends and family find out that you are rich, they will ask you to lend them or participate in other financial dealings or partnerships that you don't or shouldn't join. Other family members may become envious and change their attitudes towards you or even try to harm you. Even your friends may try to lure you into worthless schemes with the mind to scam you. Research has revealed that many lottery winners get murdered or kidnapped by friends after winning the lottery. Hence, it would be best if you kept the fact that you are wealthy to yourself alone as long as you can stand. Don't get too excited that you begin to tell it to everyone. Else, you might be a target. 5. Look towards paying your debts A debt-free individual is a happy individual. Would you happily enjoy your new wealth when debtors keep calling you? Well, I'm sure you won't. Hence, you must attempt to clear your debts first. Many people, however, lavish their newfound wealth forgetting that they have debts to pay. However, inasmuch as it makes sense to pay off your bills at once, you might need to pay in bids. The reason is that you might go broke again depending on the gravity of your debt. Hence, together with your financial advisor, you should create a debt payment scheme that will help you pay off all your debts, but more conveniently. 6. Invest in yourself A common saying throughout the world is that a fool and his money are soon parted. Understand that money has its principles and the reason why you have not built wealth is that you don't know how to grow money. Now that you have acquired sudden wealth, investing in financial literacy should be paramount to you. Even though you now have a financial advisor, it is still necessary for you to learn about finance and how it works. Apart from the fact that it is needed, it is indeed proper for you at least to know how your money is being handled. Many financial advisors may want to take advantage of your financial illiteracy. 7. Create a budget you can live with The giddiness of suddenly owning a tremendous amount of money most times causes people to create outrageous budgets that they will not be able to stick with over time. Before you start budgeting, you must answer some vital questions, together with your financial advisor. And one crucial question is, do you expect to have such an amount again soon? Answering this question gives you an idea of what should be in your budget and a backup plan for the sakes of uncertainties. Set an unreasonable budget and mapping out a contingency plan will help you retain your wealth for a long time and even get richer. 8. Identify your needs and wants The fact that your financial status has been elevated does not mean that your wants will suddenly become your needs. It will help if you outlined your needs clearly and wants advisably. Let your wants and needs remain the way they were before you got rich. 9. Keep your job Quit in your career immediately after receiving some massive funds as the first domino in the series of actions that will cause you to go broke in a short while. You may want to tell your annoying boss to go to hell, after all, the wand of power is now in your hands, but this does not always end well. Regardless of the amount of money you have in your account, you should keep your day job and go about your life the same way you used to. At least until you have decided with the aid of your financial advisor, the next step to take. Still, be sure not to quit on bad terms. 10. Make your money work for you Robert Kiyosaki in his seminars and books always emphasizes on the fact that rich people don't work for money, they make their money work for them. The fact that you got rich all of a sudden does not mean you will remain wealthy. If you do not make your money work for you, it will soon vanish away. However, you must consult your financial advisor before taking any steps for investments. Don't get carried away by the gains, get as much information as possible and put your money into a viable cause that you are willing to be committed to. 11. Focus on your health Poor people pay little or no attention to their health. Therefore, you might have skipped many appointments with the doctors previously. On the other hand, the rich understand that health is wealth so they never miss their checkups. Now that you are rich, you must act like the rich. First, in the area of your health, begin with full medical checkup, pay more attention to what you consume and start taking care of yourself. 12. Avoid rushing into starting up a business We all have the dream of being a big boss and receiving a massive amount of money may seem like the chance to become the boss we have always wanted to be. But the truth is that 9 out of 10 businesses fail. Perhaps you got your sudden wealth by chance. Luck will not make you successful in business. Don't rush into investing all the money into starting up a venture. It is easy to get caught up in the delusion of potential success when you are starting. Hence, you spend so much money on it. However, the same way this illusion will fade away, so with the funds you put into the business. 13. Stay of money doubling platforms How can this huge amount of money in my account be multiplied in less than a month and without me having to do anything? This tempting thought is likely to creep into your mind, especially if you got your riches from gambling, Ponzi schemes or lottery. Nevertheless, it would be best if they did not entice you. Be content with what you have and work towards multiplying it the right way. Bear in mind that notwithstanding the vast inheritance you get from a dead relative or the amount of money you'll win from a lottery, how well you can manage the funds will determine how long it's going to last. It is not just enough to acquire a sudden influx of wealth. Sustain it.