As I nonchalantly removed a folded lottery ticket from my wallet to compare my random selection with the winning numbers, I took a moment to relish the thought of what I would do with last Wednesday’s $550 million Powerball jackpot if I won.

I imagined myself blessed with extravagant riches, escaping financial worry while additionally buying a lot of … misery?As I stared dejectedly at my losing ticket, I thought about why I actually wanted to remain a proletariat and was happy not to win.

Yes, you heard me. After thinking it out, I realized I would not want to partake in this life-changing event of becoming a multi-millionaire.

When most people picture themselves winning a large sum of cash, they imagine themselves screaming, crying or a combination of the two, while their bank account tacks on a few extra zeros under the “checking funds” category.

But then a thing called reality hits you upside the head. You’re quickly left with unscrupulous relatives and friends who think that their Facebook friend requests from years ago suddenly entitle them to at least small handouts. In the very least, the green Benjamins that suddenly inflated your bank account paint a target perfectly centered on your wallet.

The good news is that you can remain anonymous in some states when claiming your ticket. The bad news is that, because of the Right-to-Know Law, Pennsylvania isn’t one of those states.

Were we not supposed to be thankful for everything that we have in life just weeks ago (i.e., Thanksgiving)?

Don’t tell that to 81-year-old retired carpenter Gerald Moore. His winning ticket from 2008 had him and his wife filing lawsuits against each other in a classic “he-said, she-said” story over a $3.5 million lottery win in Toronto, Canada. This ended in a divorce and left Moore seeking more than $5 million in punitive damages in a continued lawsuit, as both spouses claim ownership of the purchased ticket.

That’s totally a risk you’d be willing to take, though, right? The amount of close friends I have can be counted on one hand, and the same probably applies to you.

But while it shouldn’t take long to quickly categorize and sort how you’re going to distribute the wealth, you’re also suddenly taxed with legal woes.

The best thing you could do in this case is to see a tax professional before you cash the ticket. Do you take an annuity and receive lower taxes while receiving payments for more than 26 years? Or do you take one lump-sum payment and immediately pay taxes on that amount? What happens if you were to die before the term is up and need to pay the estate tax?

There are a lot of choices to be made, and many will assume that they can now afford to rush into things, while in reality, they’re rushing into debt.

People who nurse gambling, drug or sexual addictions before winning are likely to maintain these same addictions after winning. It’s common sense that with the sudden endowment of money, these addictions are not likely to disappear after a sudden surge of extra cash.

Benjamin Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” Just in case you forgot, let the $100 bills remind you that, as a recent winner, you are now placed in a higher tax bracket. With this kind of classification comes added responsibility.”

According to a 2007 article in the Eagle-Tribune of North Andover, Mass.,wealth counselor Szifra Birke, roughly one-third of lottery winners find themselves in serious financial trouble or in bankruptcy within five years of turning in their winning ticket.

“If a person is not business savvy, they don’t know what it takes to run a business — $300,000 could disappear very quickly,” Birke said. “You have to really understand the true cost of things. If you make a purchase (on your credit card) that costs $50 and it takes you two years to pay it off, you spent a lot more than $50. Sometimes people just don’t compute the numbers.”

Just ask Alex and Rhoda Toth after they won $13 million in the Florida Lottery back in 1990. Alex Toth literally had $24.76 left in his bank account and hoped the money would buy him and his wife a simple and quiet life.

Fast forward to 2006 when the couple was charged with filing fraudulent income tax returns in 2000, 2001 and 2002, possibly facing up to 24 years in federal prison due to multiple misstatements of claims, all of which the IRS believes were intentionally committed. The Toth family claims otherwise. Whoops.

After losing the lottery, I began to realize that I couldn’t predict how more money would change my life problems, because I’ve never been faced with those circumstances. Just because you win the lottery does not mean it changes you as a person.

As I tossed the losing ticket into the trash bin, I couldn’t help but nod to myself as a smirk crossed my lips. I quickly thought, “Why should this be the last lottery ticket I purchase?” The answer (other than just the incredible odds) came almost instantly.

My life would change drastically, and you know what? I’m quite happy with it as it is.

Write Jonathan at [email protected].