Winning $1 million on a game show feels like the kind of moment that instantly transforms your life. But according to Michelle Moore — the first contestant ever to take home the $1 million prize on “Wheel of Fortune” — the reality is far less glamorous than viewers imagine.
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Here’s what she said about the reality of winning $1 million.
Why the $1 Million Prize Shrinks Fast
Game-show prizes are considered taxable income in the U.S., so winners often walk away with significantly less than the headline amount. Moore said that once taxes kicked in, the $1 million prize shrank quickly.
“You don’t get the full amount of money, so a million dollars doesn’t really go that far,” she told Fox News.
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How Moore Actually Used Her Winnings
Moore didn’t use the funds for lavish vacations or shopping sprees — instead, she put them toward more practical uses.
“I paid off some student loans and bills, bought a car and put some of that money towards a new home as well,” she said.
Why a Game-Show Windfall Doesn’t Automatically Change Your Life
Even if Moore chose to splurge with some of her winnings, she doesn’t believe the funds could realistically overhaul anyone’s life.
“I think that people do think that it will change your entire life — you’re going to start dripping in gold and you’re going to drive fancy cars,” she said. But based on the actual take-home pay, that likely won’t be the case.
“I guess it really depends on what your passions and your values are,” Moore said. “I did not feel like I needed to do all that. It kind of keeps you humble and makes you really value everything that you purchase.”
Moore’s experience shows that even seven-figure wins come with limits — and that financial impact depends more on how you use the money than on the amount itself.
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This article originally appeared on GOBankingRates.com: What It’s Really Like To Win $1M on ‘Wheel of Fortune’
