Personal Finance Advice and Commentary

Friday, June 08, 2012 10:55 am
By Judy Martel · Bankrate.com

There are many blunders that can come with sudden wealth, but the aftermath of the largest single payout in the Mega Millions jackpot illustrates one of the biggest screw-ups lottery winners make: not safeguarding the ticket.

It may seem an obvious precaution, but last week a 37-year-old woman came forward, claiming to be one of the three winners of the record $656 million Mega Millions payout, but is so far unable to produce the ticket. Sorry, no dice. The ticket has to be present for you to win. While this drama plays out, let’s look at a few other examples of what lottery winners do wrong, provided by Frank Fantozzi, CEO of Planned Financial Services, and published in Investment News.