How lottery winners spend their money

Interesting points-

1: learn to say "NO" to folks (strangers in particular) seeking hand outs.

2: Say Yes to causes that have been endearing to your principles in life whatever that maybe. Unless its a cause to harm others.....

3: Its absolutely IMPOSSIBLE to say you wont tell a soul. The lottery will find out, Uncle sam will find out, so get real and deal with the wealth maturely . Even if you have a "fictious trust" papers have to filed by a lawyer, so you'll need to be "telling" someone.

4: Enjoy it, it can make you or break you, that is your choice to make.

I find it very intriguing that ImDaBakerLady joined LP just to respond to an article about Professor Steven Danish.   

  This.

Expanding on #3: Remain as anonymous as your state will allow. As a single woman living alone, I would need that protection. (Well, that and my glock.) A series of trusts nested within each other may provide some, but get professional advice. Talk to a good tax lawyer and a financial planner first. Tell them you want to preserve the wealth for future generations and give cash to certain family members, but you want certain things for yourself.  And ask if you can afford those certain things and can afford to support them year after year. It's fine and dandy to purchase that dream home, but will you be able to maintain the costs of that dream home year after year without depleting your winnings? Maintenance can be expensive. You have to set ground rules with yourself and with your family if you are going to share (I cannot imagine not sharing with my family). A lottery win is not a money tree that grows infinitely. 

I'd like to get back into a very expensive hobby I've enjoyed in the past, but I'd have to have good financial advice to keep from draining funds. Money goes out of your accounts a lot faster than they go in. 

Planning and budgeting, with professional advice and guidence are the key to successful living with a lottery. 

I'm hoping that someday I can test these ideas! 

lol

Thank you all for the warm welcomes :)

 I have been reading these post for a long time now.. several post i wanted to comment on but was'nt sure about the member thing...

To those about the Water slide, yes would be fun but not in the house lol....

Im what you call the Typical buzz kill on my husband and childs parade...

Hate being the bad guy sometimes, but someone has to keep their feet on the ground or the whole house be a amusement park HaHa...

Your neighbors will protect you for a small "protection" fee.....

That would be fine. I have very nice neighbors. One strung his Christmas lights across my garage (I live in a townhouse duplex). Another's little 5 year old baked cookies, put them in boxes with a Bible quote about the birth of Jesus, and gave them to her neighbors including me!

They are all good people. But my glock is sufficient, backed up with a .12 pump. 

Interesting points-

1: learn to say "NO" to folks (strangers in particular) seeking hand outs.

2: Say Yes to causes that have been endearing to your principles in life whatever that maybe. Unless its a cause to harm others.....

3: Its absolutely IMPOSSIBLE to say you wont tell a soul. The lottery will find out, Uncle sam will find out, so get real and deal with the wealth maturely . Even if you have a "fictious trust" papers have to filed by a lawyer, so you'll need to be "telling" someone.

4: Enjoy it, it can make you or break you, that is your choice to make.

My favorite is number 1, Say no to those seeking handouts.

I find it very intriguing that ImDaBakerLady joined LP just to respond to an article about Professor Steven Danish.   

Interesting points-

1: learn to say "NO" to folks (strangers in particular) seeking hand outs.

2: Say Yes to causes that have been endearing to your principles in life whatever that maybe. Unless its a cause to harm others.....

3: Its absolutely IMPOSSIBLE to say you wont tell a soul. The lottery will find out, Uncle sam will find out, so get real and deal with the wealth maturely . Even if you have a "fictious trust" papers have to filed by a lawyer, so you'll need to be "telling" someone.

4: Enjoy it, it can make you or break you, that is your choice to make.

This is why I already have my "to-do" list. Winners who blow their money are the ones who did not have a plan before or after they won.

This is why I already have my "to-do" list. Winners who blow their money are the ones who did not have a plan before or after they won.

If you have a husband who is willing to spend time with the kids turning the house into an amusement park I say....... Let them go for it. lol. lol. I once turned the back yard into a mini bike dirt track........

And she hasn't posted since.....