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Madoff vs lottery winners

Topic closed. 4 replies. Last post 8 years ago by diamondpalace.

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lottocalgal's avatar - Lottery-043.jpg
CA
United States
Member #57222
December 23, 2007
587 Posts
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Posted: January 5, 2009, 10:23 pm - IP Logged

I was just wondering and I hope my lottery family have some insight.  Everyone says when you win the lottery, get an attorney, get a financial planner/adviser.  But we now see the scammers (of course they've always been there) stealing money from clients.  How could  you be sure you're not being ripped off by one of your "trusted advisors"?  I guess you can't interview them ahead of time and asked about their honesty and would they really tell the truth?  Just a thought>

Isn't that an appropriate name ? He "Made-Off" With everyone's money.

Thanks all.What?

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    New Member

    United States
    Member #69164
    January 5, 2009
    3 Posts
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    Posted: January 5, 2009, 11:02 pm - IP Logged

    I would let anyone manage that much money. If I really wanted to make a lot of money I would invest it myself or go to school and learn how to do it myself. That way I would know why I lost my money.

    Honestly, if anyone is worried about that, just get a Cedars account or do it yourself and get a lot of CDs at different banks. You won't get top dollar on your money (investment) but at least every single dime would be insured.

      Stew12's avatar - bad egg-64x64.png
      CT
      United States
      Member #61398
      May 21, 2008
      781 Posts
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      Posted: January 6, 2009, 12:31 pm - IP Logged

      You can get advice from multiple "professionals" and make educated decisions for yourself from there.

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        San Diego, CA
        United States
        Member #58386
        February 12, 2008
        287 Posts
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        Posted: January 6, 2009, 1:16 pm - IP Logged

        Like a previous poster said.  If you win the lottery, learn yourself how to invest your money.  Putting most of it in a CDARS account is a way to insure it.

         

        I wouldn't trust anyone to invest my money.  If I did give it to someone, they would have to earn my trust.  That would be difficult.  People can go from good to bad overnight.

         

        Again, I would learn myself how to invest it.

          diamondpalace's avatar - Untitled 2.jpg
          Dallas, TX
          United States
          Member #60284
          April 12, 2008
          3856 Posts
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          Posted: January 6, 2009, 2:06 pm - IP Logged

          When financial security is in place, there will be all the time in the world to learn how to double/tripple/ or creating an ever lasting cash flow.