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Emily Irwin, who works for Wells Fargo Bank, advises lottery winners on how to invest their money. Without any guidance, it can be easy to make bad decisions and blow it all, she told Insider. These are her tips for what lottery winners should do to protect their winnings. We want to make sure that lottery winners protect themselves from having to start all over again and avoid that feeling of going through the process of losing everything. I think having a diversified portfolio and reviewing it with your financial and investment advisors is very important.

Persons: Emily Irwin, Wells, you've, it's, they're Organizations: Wells, Wells Fargo Bank, Wells Fargo Bank's Southern Division Locations: Wells Fargo, Wells Fargo Bank's

Emily Irwin, who works for Wells Fargo Bank, advises lottery winners on how to spend their money. She told Insider that people don't realize that winners are given very little support or guidance. First off, the lottery won't tell you whether to take the money as a lump sum or an annuity. To do this, start by assembling a trusted team of advisors, as the lottery won't provide one for you. Similarly, lottery winners shouldn't suddenly find themselves in the Olympics without proper training.

Persons: Emily Irwin, Wells, I've, overspend, you've, shouldn't, We've Organizations: Wells, Wells Fargo Bank, Wells Fargo Bank's Southern Division, Lottery Locations: Wells Fargo, Wells Fargo Bank's, United States

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