Playing the lottery is another game of chance that creates vast wealth instantly for the rare winners, even if almost every single lotto player never wins a single dollar back in his or her lifetime. Now we have a new winner of the $216 million Powerball Jackpot from Wednesday night, and this person (or group) needs to take some immediate steps for protection and sustainability.

There was just one winning ticket for the $216 million jackpot and it was sold in California. Other winning ticket variations in the October 23 lotto came to 998,511 who will divvy up some $14.536 million. There were eight winners of the $1 million prizes, where the first five numbers were matched up, from Delaware, Florida, Massachusetts, New York, New Jersey and even from Texas.

24/7 Wall St. has issued its 12-step program of What to Do (and Not Do) If You Ever Win the Lottery. This also would apply to a legal judgment, a settlement or even an unexpected inheritance.

If we know one thing about lottery winners, it is that many of them find the sudden empire just too hard to manage with reasonable expectations. Many winners are broke again within just a few years.

It is just too easy to burn through a vast fortune and have nothing left to show for it. Here are some aspects of what to do, and the full report has the specifics on this matter:

• Get quality financial advisors.
• Get quality tax advisors.
• Protect yourself from friends and family (and poachers).
• Set realistic and sustainable expectations.

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