Am I really ‘set for life’ with a $1 million win asks lottery winner

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Will $1 cardinal past you done status years? Here are immoderate answers from nan experts.   Photo: WGXA.TV


Jim Fain of Central Georgia said he felt a consciousness of alleviation aft winning $1 cardinal successful nan lottery respective years ago. However, he besides said winning this magnitude is great, but it doesn't mean you are group for life.

"There is nary backing off," Fain said. "Actually it makes you activity harder."

Fain said he and his woman don't walk lasciviously, but pinch smart investments, they are capable to unrecorded a comfortable life.

"We're still middle-class Americans and we still unrecorded astatine beneath our means," Fain said. "It was a awesome cushion for america to make immoderate bully sound financial decisions for our family."

Jimmy Walter, a financial advisor astatine Edward James, said $1 cardinal is not worthy what it erstwhile was.

"We cognize nan worth of nan dollar goes down a small bit. That's what we telephone inflation," he said. "And truthful $1 cardinal coming is not what $1 cardinal was to our parents aliases our grandparents."

Walter said nan mean personification doesn't person to triumph nan lottery to person financial state during retirement.

WALTER: "$1 cardinal coming is not what $1 cardinal was to our parents aliases our grandparents."

"If personification were to put astatine property 20, if they were to put distant $200 a period and put successful thing somewhat conservative,” he said.

“But if they want to play successful nan marketplace and get six, seven, 8 percent return, and by nan clip they get fresh to discontinue astatine 65, they tin person astir $1 cardinal successful nan bank," he said.

Fain said he has a proposal for anyone who abruptly comes into a ample sum of money.

"Go get a mentor that you spot that tin counsel you connected things to look up based connected your individual needs," he said.

RELATED: How to never run out of lottery money again

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Lotto Life