Robert Pagliarini was asked to provide lottery winner advice and was interviewed on BBC Radio today regarding the sudden wealth effect of winning the lottery. The lottery was making big news after Margaret Loughrey won 27 million pounds in this week’s Euromillions Lottery. You can read about her lottery win on the BBC News website.
Margaret seems to be taking the win in stride:
“I never panicked. I’m level-headed and I know I’ll think it all through and do the right thing, see to the right people. It’s in my name at the minute, it’s £27m, it’s not going to be mine, it’s going to be spread around. “No point having £27m and being lonely. That can’t make me happy, that can only make me happy that everybody else’s happy and so far everybody is absolutely delighted.”
Robert emphasized the difference between gradual wealth and sudden wealth, and that the best lottery winner advice is to slow things down. There will be some decisions Margaret will need to make right away, but that the majority of decisions should be delayed until she can get her head around the win and what it means.
About the Sudden Wealth Financial Advisor
Robert Pagliarini, PhD, CFP®, EA has over 25 years of financial planning and investment management for the suddenly wealthy. Robert is a CFP® Ambassador, one of only 50 in the country, and a real fiduciary. He authored the book The Sudden Wealth Solution: 12 Principles to Transform Sudden Wealth Into Lasting Wealth in hopes to help those deal with sudden wealth and the emotions that come along with it. In addition to his Ph.D. in financial and retirement planning, he earned a Master's in Psychology to better understand and be equipped when helping clients manage a windfall. He has helped clients from across the United States who have received a windfall from an inheritance, lawsuit settlement, business sale, stock options, sports and entertainment contracts to make sense of their sudden wealth. When he is not helping the suddenly wealthy, you can find him writing personal finance books and articles for Forbes. If you're needing help managing wealth, contact Robert directly.