Win the jackpot...now what?

Reply #25

LckyLary — Fri, 10 Apr 2009 19:54:59 GMT

First thing: go on here and say to watch the NEWS!

Short term: schedule a Vacation Day (did this once for a small claim) to Lottery HQ in Lawrenceville, and validate at the Store where purchased. Pick a nice shirt like Feeling Lucky? to wear to the HQ. Pick some cool MuSiC like I Wanna Be Rich (Calloway) and bring camera to take photos at Store. Day of trip to HQ if time stop at Molly Pitcher because they have Roy Rogers. Try to go early because sun at bad angle later in day at HQ and going t... [ More ]

Reply #24

hoping2winbig — Tue, 07 Apr 2009 11:43:36 GMT

Helloooooo !! I KNOW I will win tooo !!!! ................ Negativity always works against you . Hey all I am a newbie here , this is my very 1st post woo hoooo ! I do have a question for anyone who knows , where can I play the lotto online ? I want to play Colorado pick 5 but I'm unable to drive the 3 hrs to get there . Appreciate any help / suggestions

Reply #23

dejavous — Tue, 07 Apr 2009 04:09:45 GMT

When I win the lotto I would only tell my parents. I have learned once you tell your blood sucking relatives, you will never get rid of them. I would set up a trust fund for my only child, pay of all expense my parents have. The rest will continue to work for an honest living. Money Changes everybody. It brings out the worst in some people. They all need a loan and feel because you have won so much, you never need your moneyack. Lets face it some family members you only see them when they need y... [ More ]

Reply #22

Dollar419 — Tue, 07 Apr 2009 03:47:52 GMT

I'm so sorry you feel that way, but I know I will WIN

Reply #21

TNPATL — Wed, 01 Apr 2009 03:00:09 GMT

1. I definatley pay IN full bills. Student Loans, and credit cards

2. Stock away enough to pay expensese for the next couple of years while I return to college to obtain a nursing degree so I could change careers.

3. I would fix my current car, she still runs really well.

4. I woudl share some with Immediate family only. Mom, Sister My sister would get enough to invest for my nieces future college education

After that I would play it by ear. I would do my best first and foremost... [ More ]

Reply #20

SpanaUnlimited — Sat, 28 Mar 2009 19:57:13 GMT

Probably you're right.....but when you think about it..........how hard is it to pick 5 numbers from a pool of 59......and just one more single number from a pool of 39.

The lottery.....ain't nothing like it.

Reply #19

hearsetrax — Sat, 28 Mar 2009 19:18:07 GMT

probably not ..... but U never know

Reply #18

ThatScaryChick — Sat, 28 Mar 2009 18:49:49 GMT

So you can see the future

Reply #17

iGlenn — Sat, 28 Mar 2009 10:50:12 GMT

Probably true. We all know what the odds are. But I'll still buy my $5 Powerball quickpick later this evening.

Reply #16

Steven948 — Sat, 28 Mar 2009 08:17:50 GMT

sorry but none of us are ever gonna win

Reply #15

maddi2 — Fri, 27 Mar 2009 23:36:45 GMT

First, I would buy stock in AIG, you know the Gov isn't going to let them fail.That's their pensions, and etc... but they will break them up like Ma Bell! Then I'd have stock in everyone of those companies. Buy my parents a house any where they wanted, and pay off all their bills, set up a fund for anything they may need,set up a college fund for all 12 soon to be 13 neices and nephews. No college?!?, has to be used for a house at 30, otherwise goes to the Red Cross or the Salvation Army. Donate... [ More ]

Reply #14

Seachelle — Fri, 27 Mar 2009 23:33:44 GMT

Sounds like a great plan! I do one thing different, I would attend a college or university to educate myself on how to take care my money! I would not leave that in someone elses hand or to their opinions.

Reply #13

hearsetrax — Fri, 27 Mar 2009 23:17:35 GMT

seriously giving thoughts to moving to the UK and or canada

Reply #12

GamerMom — Fri, 27 Mar 2009 22:52:40 GMT

I'm sure they would want to verify you didn't give it all away so as to not miss out on their hefty gift tax.

Reply #11

JWBlue — Fri, 27 Mar 2009 19:57:00 GMT

First I go to VEGAS!

After a two week vacation there, I come back and start educating myself on the stock market (more than I currently am.) A lot of my money goes into a CDARS account which is a CD that is spread out over banks up to $100,000 each. A lot would go into treasuries. I send some of my money to a financial advisor that I trust and see what she can do with it.

After that. Find a cute and fun girl, start a family, and enjoy life.

Reply #10

Billy9Fingers — Thu, 26 Mar 2009 22:41:35 GMT

I'm prepairing even before the big jackpot even hits me. I've been doing some research and came across this book called Sudden Money, by Susan Bradley. Its a what to do 'when ..... When you inherit money, insurance policies, your now playing professional sports, lotteryies... etc. From all that I can gather it would be money well spent up front. As there are people who find themselves in these situations quite often.

Has anybody else heard of this book

Reply #9

SpanaUnlimited — Thu, 26 Mar 2009 18:45:00 GMT

Why? I thought the IRS only cares about income.....not what you do with afterwards.

Since MUSL already withholds 25%. As long as you pay the estimated taxes(remaining 10%)....you would meet the IRS requirements for those in the 35% tax bracket.

That being said.....leaving cash inside a safe is not the brightest thing to do. Cash is hard to track and once it is lost/stolen.....you can say goodbye to it. At least with banks.....there is often a paper trail and FDIC insurance to protect you t... [ More ]

Reply #8

GamerMom — Thu, 26 Mar 2009 17:51:11 GMT

If you had your entire fortune in cash in a safe at your home it seems like the IRS would be knocking on your door to verify...

Reply #7

Dollar419 — Thu, 26 Mar 2009 15:57:48 GMT

1st of all, I would give 10% tithe to the church, hire the best attorney and accountant by referral of course

Buy a brand new house, pay off all of my outstanding debts, try to help my immediate family as much as I can.

Move to from California to Georgia because it is getting too expensive to live in CA.

Reply #6

savagegoose — Thu, 26 Mar 2009 15:18:31 GMT

I dont know what to do, the fun begins once you win.

Reply #5

SmoothJuice — Thu, 26 Mar 2009 08:04:18 GMT

If I win, I'm moving to Nigeria.

Reply #4

Pogo — Thu, 26 Mar 2009 05:56:06 GMT

Sounds awesome, but I'll have to put all my money in the Brazilian Market then spend all my sweet time traveling and playing with my clay - couldn't agree more - so relaxing... Pogo

Reply #3

grandpajohn — Thu, 26 Mar 2009 05:40:06 GMT

I know what I would want to do if I won but i would make sure first if it was the right way to go. I would make sure my two kids were taken care of maybe a house for them and even a car.Then come my three grand kids i would want to set something up for there schooling what ever they wanted and since my two kids are still young enough to have maybe one or two more kids I would what to set aside for the furture grand kids.I would also have money for the wife and I could travel a little and as big

Reply #2

Kaptainess — Thu, 26 Mar 2009 04:26:07 GMT

Get a large safe and get in all in cash, 20's and 50's. No 100's.

Take a life long vacation all over the world to places I always wanted to go before they blow up our planet.

Insure that my sister has a nice large house and money in a trust that she can live on for the rest of her life.

Give my brother one thin dime.

Move to California - the part where they don't have earthquakes on the beach.

Get a full body massage everyday head to toe, especially the toes.

Hire a physical th... [ More ]

Reply #1

iGlenn — Thu, 26 Mar 2009 03:36:20 GMT

I'd hire a tax attorney/accountant. Interview no less then 5 attorneys accountants before you make your final decision on who you want to hire. I'd skip the financial advisor. You can learn everything they know by educating yourself on the various types of investments. I'd probably spread the money amongst 3 different brokerages (Schwab, Fidelity, and Vanguard).

Your tax attorney/accountant would be best qualified to answer your tax questions.

I wouldn't bother much with CD's. I'd invest 7... [ More ]

Win the jackpot...now what?

SpanaUnlimited — Wed, 25 Mar 2009 22:52:05 GMT

Simply for FYI purposes. Let's say you win the jackpot. What would be your immediate, short-term, and long-term activity

Obviously hiring professionals is likely a good idea to guide a novice. My question is who should a jackpot winner hire. A tax lawyer, a financial advisor, an accountant, some hybrid of the above, or none at all. When it comes to money.....in order to avoid getting ripped off......what should be the going rate/retainer to pay these professionals. A one time flat fee, a comm... [ More ]