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PREVIOUS:They could feel obligated to make good use of their newly acquired wealth and improve both their own and other people's lives. Surprising obstacles like handling taxes, investments, and estate planning may also arise from the unexpected infusion of cash. A large lottery win can, in general, be a transformative experience that calls for careful thought and preparation. A large lottery win can have a lasting effect on the winner's life. It can be quite overwhelming to suddenly find yourself wealthy, & it can alter everything from relationships with others to financial stability.NEXT:Many lottery winners have elaborate plans for their newfound wealth after winning a sizable prize. While some winners focus on giving back to their community through charitable donations or financing local projects, others decide to start their own business or invest in real estate. Many winners also use their winnings to plan for retirement, pay off debts, or establish trust funds for their kids in order to safeguard their financial future. All winners want to improve their own lives and the lives of people around them, no matter what they do with their winnings.
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