Financial experts warn future winner of the $1.7 billion Powerball: Don't make these common money mistakes [Fortune]
NerdWallet, Inc. (NRDS)
Company Research
Source: Fortune
They describe a consistent set of mistakes that can quietly turn a once-in-a-lifetime windfall into a long, public mess. ? Recommended Video Rushing big decisions Many experts warn that acting too quickly — quitting a job, claiming the prize immediately, or committing to big purchases — is one of the most damaging errors. Articles in outlets including CNBC, NerdWallet , and USA Today emphasize slowing down, taking time to process the shock, and making no irreversible decisions until a plan is in place. ? A related misstep is choosing between the lump sum and annuity on instinct instead of analysis, even though that decision locks in tax timing, investment options, and how long the money is likely to last. Financial writers note that many winners default to the lump sum without modeling scenarios with professionals and understanding that, after taxes, the headline $1.7 billion quickly shrinks. ? Going public and losing privacy Coverage in CNBC highlights that bragging about
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