Lotto Fever Powerball over a Billion what happens when you win

Year of Profit

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Top 10 bits of advice.

10 stay anemones

Don’t tell anyone.

Change all your phone numbers to unlisted numbers.

Chang your address to a po box.

change your email and close social media accounts.

Go into your password list and close or change all your online accounts.

9 Wait to claim your prize

Take some time and think.

This helps avoid media attention.

This gives you time to plan your next move.

This helps you ground your thoughts and let the emotions sink in.

This helps you build your team,

8 Hire advisors

Tax expert. Layer, financial advisor/ investor accountant.

Put it in several banks.

Get tax advice from your state.

7 Avoid big lifestyle changes

Most winners are advised to keep living as normal for at least 6 months

Take some to celebrate but don’t make any major purchases until you can make good decisions.

The majority of winners that don’t stop and think are broken in 2 years

6 Party

Take a little and budget for a calibration. But this cannot be a hundred thousand dolor party. Take some enjoyment of your winnings. You should celebrate but you also need to be calm and plan for the future. Invite only your closest friends and family.

5 Pay off all your debts

paying off your debts right away will save you in interest. And cut up and freeze all your cards. Change your accounts to new accounts.

4 Set up an emergency fund

This may seem like something you don’t need to do because you have all the money now. But you still need to stick to the baby steps. Having an emergency fund is just that, for emergencies. You still need to have money set aside because things do happen. Although our plan is that this is not an investment, put this in a higher yield account such as a money market account. You won’t make a lot of interest but it’s still liquid enough to get out when an emergency happens.

3 Budget

You still need to budget your money. even more now than ever because you will feel like you have free money to spend.

This is the number one reason lottery winners go broke within a couple’s years. A good train of thought is to only spend income. This will guarantee you will not lose it all.

2 donate to charity

The biggest problem, several finance advisers agreed, is that lottery winners give away too much money to family and friends.

Make a list of the nonprofits you would like to help. including your church. You might want to have a talk with your pastor and let him or her know that you wish to stay anonymous.

talk to your financial advisor and tax advisor about the amount you should give. There are tax laws you have to follow.

1 be honest with yourself

Now that you have the money to do whatever you want you need to be honest with yourself and figure out what you truly want. To many winners go out and buy everything they can including high end cars, house, toys, or racehorses. But slow down and think of what would make you really happy.

Think about you, your family and your future. Manty people become very lonely in their big houses. Remember to be yourself. Remember that it will be very easy to lose all your friends if you let the money take you over. Jealousy and hatred for lotto winners is a big thing. you will find family and friends that you have never met will expect you to give them you’re winning because “you didn’t earn it”. Be careful who you bring into your life. Don’t let money change who you are.