Some studies have suggested that up to $70\%$ of lottery winners lose their winnings within as short of a period as seven years. Which of the following statements are correct regarding advice for a lottery winner?

Principal protection is the most important issue.

It is extremely important to invest lottery winnings quickly to take advantage of opportunities to grow the principal.

Group of answer choices

$1$ only

$2$ only

Both $1$ and $2$

Neither $1$ nor $2$