A man who won £21 million on the lottery has revealed how he avoided the common fate of going broke, thanks to one crucial decision. Timothy Shultz was just 21 and working as a petrol station attendant when he won $28 million (£21m) on the US Powerball in 1999. Despite his youth, he was aware of other winners losing their fortunes within years.
Determined not to become a statistic, Shultz immediately sought professional financial guidance. He told Business Insider: 'At 21, I had no idea what to do with that kind of money and was lucky I sought professional guidance. I didn't want to become a statistic of lottery winners going broke within a few years.' He invested in stocks, bonds and mutual funds, and used some money to study film and broadcast journalism.
Shultz admitted that his family had a different view, with one relative explicitly telling him he had 'got something for nothing' and should keep giving money to them and others. He now hosts a podcast and YouTube channel called 'Lottery, Dreams, and Fortune'.
Meanwhile, in the UK, a National Lottery winner from Crewe who took home £6.1 million with her partner in 2016 has been volunteering at a local food pantry for three years. Michele Jones said: 'Winning the lottery has bought us time more than anything - the time to dedicate and support important charities like this.'
