'We don't want our children to be waiters — waiting for us to die': Man who won $22 million lottery says he hasn't told his kids. Dave Ramsey loves it. Here's why

“My wife and I made a conscious decision just to keep it under wraps,” said the caller, who used the pseudonym John. “We just don’t want them to grow up to be waiters — waiting for us to die.”

The comment made host Dave Ramsey burst into laughter. But John’s decision was based on research he did following his big win. He learned that many lottery winners overspend and go bankrupt within a few years of hitting it big.

“One of the things they all say is they told too many people and had too many people turning up at their door asking for handouts,” John said.

His approach to his windfall should keep his family in good financial shape going forward.

Staying anonymous after a lottery win

Unfortunately, staying anonymous after winning the jackpot isn’t always possible. Only a handful of states allow lottery winners to hide their identities upon claiming their prize, and some require you to win a minimum amount first.

John, however, has managed to keep his winning status hidden from nearly everyone, except his wife and one sibling. That puts the couple in a solid position to safeguard their new fortune.

How to make the most of a windfall

To enhance his family’s chances of keeping their lottery winnings, John says he hired a team to help him with investments. He and his wife also plan to live well within their means for the foreseeable future. John says he is still working because he loves his job and his wife is happy to live in the same house they paid off a few years ago.

“We just paid cash for two Toyotas before we won this,” John said. “We’re not looking to upgrade because they’re perfectly fine cars.”

Ramsey was impressed by the couple’s financial discipline, despite the tremendous windfall.