Sep 11, 2026
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Greg S. and Krys P. sat on the biggest lottery prize in Canadian history for nearly four months before telling anyone outside their circle. The two longtime friends from London, ON, matched all seven numbers in the December 30, 2025 Lotto Max draw, worth $80,403,285.40 combined, and didn't step forward to claim it until April 2026 (1). The Ontario Lottery and Gaming Corporation (OLG) called it a historic win, and it's now the largest lottery payout in Canadian history (2).
They're the newest members of a small but growing club. A year earlier, Mark Hanley, a retired software analyst from Newmarket, ON, claimed his own $65-million Lotto Max prize from the March 28, 2025 draw (3). His first instinct was pure joy and disbelief. His second was to start dreaming big.
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"I want to buy a castle," Hanley said in a news release from the Ontario Lottery and Gaming Corporation. But his wife had other plans.
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A winning ticket is just the beginning
The Hanleys' reaction to their windfall paints a relatable picture: One partner wants to splash out on a grand estate, the other says absolutely not. And therein lies the universal lesson that it's tempting to go big, but the real win is learning how to go smart.
Their compromise? No castle. But definitely travel. And definitely cheese.
"I want to travel the world for its food," Hanley told Global News. "I want to go to Italy, and especially France. I love French bread, French wine, and... oh my, French cheese!"
It's a grounded approach to sudden wealth: Spend a little, savour a lot and plan for the future.
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What to do if you come into a financial windfall
While most of us won't win the lottery, many will experience some form of windfall in our lifetime, such as a settlement, inheritance or equity payout. Here are some best practices to keep your fortune from becoming a regret.
1. Pause before you spend
A sudden influx of money can trigger a rush of emotion, and a rush of decisions. Don't do either right away. Experts advise keeping your win or windfall quiet at first, so you have time to process and plan (4). Hanley didn't even wake his wife immediately. Instead, he sat with the news, confirmed his ticket and considered how to share it. That kind of calm can be your best first move.
2. Build a financial team you trust
Windfalls can lead to unintended tax consequences, poor investments or simply overspending. Bring in a trusted group of professionals:
- A certified financial planner to design a sustainable strategy
- A tax specialist to make the most of deductions and minimize liabilities
- A lawyer to handle estate planning, trusts and asset protection
This team can help set up guardrails, so your wealth lasts far beyond the initial thrill.
Another way to make sure your windfall lasts well beyond the initial thrill is to put some of it to work so it keeps growing on its own, and so you have a cushion to fall back on if you ever need one.
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3. Set a "fun fund" — and stick to it
It's okay to treat yourself. In fact, you should. But smart winners do it within limits. One common recommendation is to allocate five to 10% of your windfall for "lifestyle spending," whether that's travel, home upgrades or yes, even cheese.
Mark Hanley's world tour for food is a perfect example: It's memorable, meaningful and won't break the bank. A castle? Not so much.
Once you've set aside that lifestyle-spending slice, the rest of your windfall shouldn't just sit idle while you figure out your next move. Parking it somewhere it can grow on its own, like a high-interest savings account, is a simple way to put it to work in the meantime.
A high interest savings account can help you grow your savings faster. It often pays to shop around because some banks offer special interest rates for new customers.
For example, open a personal account with EQ Bank and in just a few minutes you get access to the best features of a chequing account combined with a high-interest savings rate.
When you fund your account and set up a direct deposit, you can earn 2.75% on every dollar deposited into the account.
The account has $0 monthly fees and no minimum balances. Plus, you can withdraw from any ATM in Canada — for free.
You can also optimize your banking even further with specialized accounts and offers.
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- Access to a financial advisor
According to National Bank, eligible professionals can unlock up to approximately $1,313 in annual savings with higher savings available for select professions such as healthcare and IT.
The special offer covers more than 150 professions, including a wide range of professionals and specialists — and eligible individuals can enjoy even more savings when you combine specific banking products and services.
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4. Plan for the next generation
One of the biggest joys of a windfall is being able to support your loved ones. Hanley called telling his children "a dream come true."
Smart ways to share wealth include:
- Funding education for children or grandchildren
- Contributing to a down payment on a home
- Setting up a family trust
- Covering caregiving needs for aging parents
Generosity with purpose can strengthen your family's future and your legacy.
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5. Give back with intention
Charitable giving is a powerful use of sudden wealth. It not only helps others, but can also provide meaningful tax advantages. Whether you support causes you care about or create a donor-advised fund, philanthropy can be a core part of your new financial life.
Spend with joy, not impulse
Mark Hanley's story is a reminder that even the biggest windfall doesn't need to change who you are, just what you're capable of doing. His instinct was to celebrate, his wife's was to stay grounded. Together, they struck a balance many can learn from.
It's a balance that's only getting more relevant. OLG raised the Lotto Max jackpot cap to $90 million in April 2026 (5), a record for a Canadian lottery, and bumped the ticket price to $6 for the first time since the game launched in 2009. Bigger jackpots mean more Canadians will eventually face Hanley's problem, and Greg and Krys's.
"It allows us not only to secure our own future, but that of generations to come," Greg said after OLG confirmed his and Krys's win (1).
And if French cheese is part of the plan? Even better. Just maybe hold off on the castle.
What this means for the average Canadian
You don't need an eight-figure jackpot for this advice to apply. A modest inheritance, a severance package or an insurance settlement can trigger the same pressure to act fast. Before you do anything else: confirm the money is real and in your name, resist telling more than a few trusted people right away, and book a session with a certified financial planner. FP Canada, the national body that licenses and regulates certified financial planners, runs a free public directory where you can confirm anyone's credentials before you sign anything (6).
One thing that won't cost you: the win itself. Lottery and other windfall winnings are treated as tax-free in Canada, according to the Canada Revenue Agency (7), though any interest or investment income you later earn on that money is taxable.
Article Sources
We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines.
Newswire (1); CBC (2); Global News (3); Government of Canada (4); OLG (5); FP Canada (6); Government of Canada (7)
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Leslie Kennedy served as an editor at Thomson Reuters and for Star Media Group, followed by a number of years as a writer and editor and content manager in marketing communications, before returning to her editorial roots. She is a graduate of Humber College’s post-graduate journalism program and has been a professional writer and editor ever since.
