Well, it wasn’t me. I, like most of you, remain unburdened by the curse of a $1.3B windfall from the Mega Millions jackpot drawing last week.
To the winner in Illinois, Congratulations! I have some advice. For all of the rest of us normies that don’t have a massive jackpot, this advice is actually all the more important.
While most people will never win the lottery, a lot of us can expect a more moderate windfall sometime in our lives in the form of an inheritance. Over the next 25 years, between $30-70 trillion (with a T) will be transferred from the Baby Boomers to younger generations. While Gen X will be the primary beneficiary, Millennials can also expect to receive a significant wealth transfer.
Whether you have an inheritance, a lottery prize, or some other windfall coming now, later, or not at all, treating your finances like someone who does will benefit you in the long run.