This 62-year-old New Jersey man went to the store to return a carton of orange juice — and came back with $315M. Here’s how to manage a surprise windfall

1. Create a spending plan

When you’re on the receiving end of a windfall, it’s natural to adopt some lifestyle changes. But it’s also important to create a spending plan and budget so you’re managing your newfound wealth accordingly.

Map out your expenses the same way you would on an average income. Allocate funds to the things that are most important to you, whether it’s hobbies, travel or charities. And be mindful of the cost of acquiring expensive assets like homes and vehicles, factoring in things like ongoing maintenance.

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2. Set yourself up with investments

Coming into a large sum of money puts you at an advantage from an investing perspective. On one hand, you don't have to take on much risk because if you’re putting a huge pile of cash into a relatively conservative portfolio, you can still enjoy sizable returns.

At the same time, because you have so much money to work with, you can afford to play around with more speculative investments and see if there's any financial upside. And you can afford to look at assets that are less liquid, like art and real estate.

But as is the case with your spending, you need an investment plan. Setting yourself up with assets whose risk profiles vary may work to your benefit, but it’s important to do the research even if you have plenty of money to spare.

3. Get professional help

Coming into a windfall doesn’t guarantee that you’ll be set for life. You’d be amazed at how many lottery winners end up blowing their jackpots and winding up broke. That’s why it’s important to get help managing your assets.

First, find a financial adviser you can trust to oversee your investment portfolio and help you establish a yearly budget so you don’t risk running through your money too quickly.

It’s also a good idea to work with an estate-planning attorney who can help you come up with a plan to share your wealth with your loved ones while minimizing the tax hit to your estate. Currently, a single taxpayer can enjoy an estate tax exemption of $13.61 million. In 2025, that figure rises to $13.99 million.

But these numbers aren't set in stone. They were introduced as part of the massive tax overhaul under President Donald Trump's first administration, the Tax Cuts and Jobs Act of 2017. Much of the provisions of the bill are set to expire in 2025 unless they're renewed — which could certainly happen now that Trump has been re-elected.

It’s important to work with a professional to review your options for passing your newfound wealth on to your heirs in the most tax-efficient way possible.