Lottery Winner Keeps $22M Secret From Kids – Dave Ramsey Agrees, Saying 'It's Not Anyone Else's Business'

A recent call to The Ramsey Show featured a lottery winner who chose to keep his $22 million windfall a secret from nearly everyone, including his teenage children. Financial expert Dave Ramsey agreed with the decision, reinforcing the idea that managing wealth responsibly sometimes means keeping financial matters private.

A Life-Changing Win – Kept Under Wraps

The caller, nearing 50 years old, revealed that he and a group of coworkers had won a multi-state lottery. After taxes, his share came out to around $22 million. Instead of making a grand announcement, he and his wife decided to keep their newfound wealth a secret. Only one sibling was aware of their winnings, and even their children remained in the dark.

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When Ramsey asked why he chose this approach, the caller explained that he had done extensive research on lottery winners. A significant percentage of winners lose their fortunes within a decade, often due to poor financial management and external pressures from friends and family.

Avoiding Entitlement and Financial Strain

One major reason for the secrecy was to prevent their children from becoming financially dependent before learning how to build their own careers and futures. "We just don't want them to grow up to be waiters—you know, waiting for us to die to get our money," the caller stated.

Ramsey and his co-host, John Delony, agreed with this logic. Ramsey laughed and responded, "I love it," while Delony added that he wouldn't tell his teenage children either. The consensus was that keeping the winnings private allows the children to develop their own ambitions and work ethic rather than relying on an inheritance.

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A Strategy for Giving Without Questions

The caller and his wife have also kept the information from extended family members. However, they have still found ways to help loved ones financially. When the caller bought a new roof for his mother, he credited an inheritance from a recently deceased relative rather than revealing his lottery win. This strategy helped them provide assistance without raising questions about their financial status.

Ramsey supported this approach, emphasizing that financial privacy can help avoid unnecessary complications. "I like everything you're doing, and it's not anyone else's business," he told the caller.

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Smart Financial Management

Despite having the means to retire comfortably, the caller continues to work because he enjoys his job. He and his wife had already paid off their home before winning and had recently purchased two Toyotas with cash. Even after the windfall, they saw no need to upgrade their lifestyle drastically.

Ramsey praised the caller's decisions, particularly his commitment to financial discipline and long-term planning. The caller said he had assembled a team of financial advisors to help manage his wealth wisely.

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The Takeaway: Privacy Can Be a Smart Financial Choice

This conversation highlights the challenges that come with sudden wealth and the importance of financial discretion. By keeping their winnings private, the caller and his wife have avoided potential strains in their personal relationships while ensuring their children remain motivated to forge their own paths.

For those who come into sudden wealth, whether through a lottery win, inheritance, or another windfall, Ramsey's advice remains clear: strategic secrecy can be a tool for financial stability and family harmony.

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