What would you do if you won the lottery?

Reply #15

guesser — Fri, 08 Aug 2008 06:27:13 GMT

I would collect it within a week, set up all the 'legal, financial paper stuff', then be off to enjoy it.

Reason being: to wait, 6 months, let alone 6 weeks, is foolish, to me anyway.

Nobody knows when you will meet your maker, I have had awesomely healthy neighbors, friends, co-workers drop dead with no notice.

Nobody ever wakes up and thinks to themselves, 'I think I will die today', so don't wait - enjoy it NOW - the sooner the better.

Reply #14

myturn — Thu, 07 Aug 2008 10:46:11 GMT

I wouldn't go public. I would get a good honest lawyer before I claimed my winnings and at least try and claim through a blind trust. After that I would get independent professional financial advice.

Reply #13

psykomo — Tue, 05 Aug 2008 01:11:26 GMT

GEE HAA mean's STOP 2 sum (ANIMAL's) humanal!!!!!!!

L@@K'ss most human's ARE afraid of ANIMAL'$$$$$$$)

BUTT, DON't TRUST PSYKOMO

GO back 2 UR TREE'$$$$ and make

MONEY!!!! ADOPT A PET ^^^^^^^^^^^^^

LOL

PSYKOMO

Reply #12

psykomo — Tue, 05 Aug 2008 00:20:18 GMT

what would U-do if UR name EZMoney:

CONGRAT'$$$$$$$$$$$$$$$$$$$

ANYWAY U CUTTTTT!!!!!!!!!!!!!!!! THIS DECK

EZMoney:::::::::::::::::::::::::::::::::::

ISSETT.......A........winner????? YYYYYYYYYYYE$$$$$$$$

IF U win any jackpot of any SIZE^^^^^^^^^^^^^^^

CONGRAT'$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

EZMony:$$$$$$$$$$$$$$

LOL

PSYKOMO

Reply #11

DC81 — Sun, 03 Aug 2008 17:15:43 GMT

Trick is to shop around and not tell them right away what exactly they're going to be working on. If they know you're talking to other lawyers, they will reconsider trying to extort more money than they normally would charge since getting paid the usual amount is better than getting paid nothing.

Reply #10

GamerMom — Sun, 03 Aug 2008 14:59:51 GMT

they always tell you to hire financial planners and lawyers but heck I can't afford that until AFTER I claim my $$$. Also, I feel like whenever the FP and the lawyers know you won the lawyer suddenly their rates will increase dramatically. I really feel like I could manage on my own money and save myself thousands rather than handing it over to some snake in a suit.

Reply #9

Piaceri — Sun, 03 Aug 2008 05:53:18 GMT

Oh yes. Definitely more entertaining.

Reply #8

One2Adore — Sun, 03 Aug 2008 04:36:47 GMT

The first 500k of a major jackpot (more than 25 million after taxes) would be spent on whatever me and my husband wanted. Just to get that oh my god I have money phase out of us. Because I've already planned that me and my husband would then live off a family salary that would come from the interest. I figured we'd live off of 250k a year. Giving ourselves a 4% increase every two years.

Reply #7

justxploring — Sat, 02 Aug 2008 05:33:15 GMT

I'm not wealthy and I have everything in trust for my family. (checking account, savings account, etc.) It's not a matter of being selfish or not, but what if I were in an accident tomorrow? There are a lot of different kinds of trusts. I didn't read the entire article (seen too many of them just like it) but if I won the Lottery, I wouldn't put my money in an irrevocable trust where I would lose control of my money. I'd have to learn more about its benefits first. A revocable trust means you ca... [ More ]

Reply #6

sirbrad — Sat, 02 Aug 2008 05:29:21 GMT

It all depends on whether or not you are prepared for such a windfall. I have been prepared for all aspects for several years now, so I would claim it immediately. I am not going to waste time. I also have varying plans for different jackpot amounts. Most who win never expect to win, and they are not emotionally prepared to make such important decisions. However I would still live a modest lifestyle compared to what others have lived who won.

I simple want infinite financial freedom and secur... [ More ]

Reply #5

justxploring — Sat, 02 Aug 2008 05:23:44 GMT

I agree. However, I think the expert advice

Do nothing for six months

makes sense. I mean, there's not much you can do in your bathing suit on a private island with a pina colada in each hand.

Edit:

I just added the emoticon. I thought it was obvious I was joking.

Reply #4

Todd — Sat, 02 Aug 2008 05:14:39 GMT

Actually, I thought this was more entertaining:

https://www.lotterypost.com/thread/162684

Reply #3

tntea — Fri, 01 Aug 2008 22:05:58 GMT

I wouldn't claim the prize for less than 6 months

Reply #2

rubberbandman — Fri, 01 Aug 2008 18:41:56 GMT

Good article, I never thought of making trusts for my family, don't know if thats selfish but it has never occured to my mind.

Reply #1

DC81 — Fri, 01 Aug 2008 18:01:41 GMT

I think I've seen that before, it's an alright article but do nothing for six months? Are they nuts?! The thing is to not go nuts and keep some sense of sanity after winning. But I do agree, that put it in something safe, even if you do only get a four or five percent return, at least you're earning something and use that time to get things more together, including educating yourself in what you can and cannot do, along with at least getting some sort of grasp on the investment markets. To me, t... [ More ]

What would you do if you won the lottery?

sirbrad — Fri, 01 Aug 2008 05:26:45 GMT

http://www.eons.com/money/feature/insureyourfuture/what-would-you-do-if-you-won-the-lottery/485

Good article.