'’Everybody had their hand out. I never learned one simple word in the English language -- No.'' says Evelyn Adams, who won the New Jersey lottery not just once, but twice (1985, 1986). Today the $5.4 million is gone and Adams lives in a trailer.

Ken Proxmire filed for bankruptcy within five years of winning $1 million in the Michigan lottery. ''He was just a poor boy who got lucky and wanted to take care of everybody,'' explained Ken's son.

''These type of stories are all to common.'' Says J.D. Anderson, lead programmer at lotto Buster Software. ''When you win a large jackpot, you can count on a thousand different hands trying to reach into your pocket and, if you let them, they will take it all.''

So, when you do become an instant millionaire, how do you handle the avalanche of money request you are going to receive?

''Before your windfall becomes public, you should isolate yourself until after you have met with a financial advisor and worked out a plan for your new life,'' says Anderson. ''Call your boss and let him know that you need a leave of absence. Call your close relatives and friends and let them know you are taking a ‘time out’, then find a first class hotel, or cruise line, and disappear until after your plans are made.''

Who’s Your Friend?
Nothing gains you more friends then having a lot of money and suddenly you will start hearing from those distant cousins (twice removed).
Decide beforehand who your true friends are, which family members are close to you, and how much of your money you are willing to give away. I say give away because no one is going to pay you back. Hey, its ok not to pay you back because, after all, you are a millionaire, right?
Once you decide on your limits, stick to them. When you get a request that’s outside your plans, simply tell them that your money is tied up with an investment firm and you cannot touch it.

Investing With Family and Friends:
The best way to alienate a family member or lose a friend is to go into business with them. Everyone you know is going to have a great business idea that cannot miss. In reality, there is a 97% chance it’s going to fail and hard feelings are going to set in when money gets tight.
When approached with a business opportunity, refer them to you investment councilor and make your decision on his advice.

The Bottom Line:
''Many instant millionaires did not set limits when trying to help family and friends and they wound up losing the money, family members, and friends'', says Anderson. ''Even when you’re broke, they will want more.''
''So be prepared to lose some ‘so-called friends’ and some ‘close family’ members because it is going to happen. But remember, if they are a true friend or a family member who is truly interested in your well being, money will not change the relationship.''