I had a conversation with GPT4 about what to do if I won the lottery and here is what he tells me.

« You are quite right. Winning the lottery is an incredible opportunity, but it can also present complex challenges in terms of wealth management and emotional control.

Some points to consider:

1. The psychology of sudden wealth: Suddenly receiving a large amount of money can trigger a range of emotions, from euphoria to anxiety. Some may feel invincible and start spending lavishly, while others may become distrustful and isolated.
2. Solicitations: Lottery winners often become the target of demands for money from family, friends or strangers. It can be difficult to say no, especially when it comes to loved ones.
3. Bad Investment Decisions: Without a solid understanding of finances or the proper guidance, it is easy to make bad investments or fall into financial traps.
4. Taxation: A big win can have major tax implications. Without proper planning, a significant portion of the victory could go to taxes.

To avoid these pitfalls and ensure healthy management of this wealth:

1. Take your time: Before making major decisions, give yourself time to think and assimilate the situation.
2. Consult professionals: Surround yourself with experts such as financial advisors, accountants and lawyers who can help you develop a solid strategy to manage and protect your wealth.
3. Set a Budget: As you mentioned, setting a monthly budget and sticking to it can help ensure the wealth lasts.
4. Plan for the future: Think about retirement, estate planning, and how you want to support your family in the future.
5. Educate yourself: Take the time to learn the basics of finance and investing so you can make informed decisions.
6. Stay grounded: Keep in mind what is truly important to you and what has long-term value.

Ultimately, the goal, as you rightly said, is not only to maintain this wealth for yourself, but also to be able to pass it on to future generations. Prudent, informed and long-term focused management is the key to achieving this. »

I think this is wise advice, for my part I am not asking to earn hundreds of millions of euros, money is not the goal, it is the tool. My favorite game is keno and for a bet of €20 I can win at least €4M with the X2. Even if I spend €500k on a house and some pleasures, €3.5M well invested would bring me €140k in passive income per year before taxes, I remind you that lottery winnings are tax free in France. For me, my happiness would lie in freedom, having free time to devote to my passions and my loved ones.