Everyone has a financial fantasy. “If I won the lottery, sold my company, or received an inheritance, I would (fill in the blanks).” However, the reality of receiving a large sum of money often clashes with the dream. Maybe the money will solve all your problems, but likely it won’t. If you need proof, Google “lottery winner tragedy” and read the horror stories of unprepared winners whose lives fell apart in the wake of their new-found wealth.

The good news is that a windfall can, if correctly managed, make your dreams come true. It can eliminate financial stress in your life and even give you a new freedom, one where pressures of a career are lifted, and there is more time for family, vacations, or philanthropy. Reaching that stage takes some self-control, good advice and planning, but it’s certainly doable. And besides, it’s a better ending than becoming another riches-to-rags story.

Time is on your side

It’s tempting to grab the money, quit your job and start spending, but your first priority should be to buy some time so you can weigh your options. As a rule-of-thumb, avoid making any major financial or life decisions for several months so the emotional rush of winning can subside. Lotteries give winners a specified amount of time to claim their prize—typically 45 days to a year, depending on the game. Instead of rushing to the lottery office to claim your prize, secure the ticket in a safe place and start meeting with advisers. If you’re selling a company, there are usually several months between the initial offer and the sale. Regardless of the windfall’s source, take a lot of deep breaths and use that time for planning. Sure, you might be able to pay cash for that three-bedroom Manhattan co-op, but think ahead to whether there will be enough left over to cover the sky-high monthly maintenance payments.