I won $28 million in the Powerball when I was 21. One choice saved me from becoming a broke lottery winner.

"I felt like I was holding a magic wand. Everything was possible, but I also wanted to be financially responsible."

"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."

"I helped many people, but also wanted to live within my means."

Monday's Powerball jackpot is estimated at $1.1 billion, the sixth-largest in Powerball history. A jackpot winner would receive transformative wealth but faces a real risk of losing it without financial planning. Timothy Shultz won $28 million in 1999 at age 21 and retired. He sought wealth professionals before claiming the prize, set limits on spending and giving, and prioritized living within his means. He invested conservatively so returns could last a lifetime, putting money primarily into stocks and bonds. He credits professional guidance with preserving his wealth and notes a regret about one investment choice.

Read at Business Insider