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Paranoid...or Prepared?

Topic closed. 30 replies. Last post 5 years ago by Brcebrce.

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Lucky Loser's avatar - bucks
Texas
United States
Member #86154
January 30, 2010
1648 Posts
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Posted: March 2, 2012, 11:44 pm - IP Logged

Hey everyone!Smile This is obviously my first post, but I've been lurking on and off throughout the years. I should've joined much sooner, but just like the rest of yous I'm pretty much "living on a prayer" and learning with this game lol. Forgive me if this has been discussed, but I figure with the latest technology and latest JP winners becoming less and less known, it makes me wonder how much of a hassle it may be to win, not earn your way into becoming a multi-millionaire...not that theres anything wrong with that ;)

 

Some questions and things I'd like to discuss with you guys...just getting ideas thrown out there together so we can all play this game much safer for the future. I've seen that some people already have "plans" ready for just in case, which is smart to me! Now, I'm a bit young and recently graduated college...I'm in no position to set up a single life for myself yet; forgive me if these questions seem a bit naive. 

1) Do you honestly plan on telling your family? Especially for those who are not married? 

2) Even if you do or do not (tell your family), how do you explain the transition to becoming a multi-millionaire or suddenly being able to afford "rewards" to yourself/family? Do you have a story planned for everyone around you? 

3) I plan on using a P.I. before hiring any attorney or professionals around me and my $$, will you? ... but how much can you trust a P.I. as well? 

4) What kind of security system are you going to set up? I feel the regular ADT systems will not be enough, I'd definitely invest in something more advance <snip> the costs of it all. 

5) How many properties do you plan on buying or how much land? And if you do plan to move out of state, where to? 

6) If you are single, do you feel like you will be swindled more when setting up shop? Also, how will you handle dating in the future---do they know right away or is it something you will have to disguise until marriage/death? 

7) And this is just a fun question: what would you actually buy for fun? rewards for yourself???

 

So yes, many questions, but I have had to think of this realistically and all the implications for coming into millions of $$ suddenly. Im only in my early 20's, single female, and if it were to happen now or 10 years later...I want to not be overwhelmed by the transition. Paranoid or am I just preparing? Everyone here says to have a plan and watch your back; I agree! So for all intents and purposes, lets say you have won at least the current MM jp of 79.8 mill. I feel like the general consensus here is to take the cash, sooooo. Go! I'll answer later. 

This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam.

1) This can be very touchy because upon telling your family, you automatically become the "go to" person for everything from now on...FOREVER. Why? Because you have money which they already know. There's also a saying which supports this scenario which goes a little sumthin' like this: "To whom much is given, of him shall much be required..."

2) You don't have to disclose that you've become a millionaire of sorts, but maybe just say you won pretty good on a scratch off. Yeah, it's not completely forthcoming, but you've got to be smart and protect your own interests as well. Now, I never said not to help them...that would be wrong. But, in limited disclosure of actual winnings, you can regulate how much and to what extent you help them. I mean, hey, you have to also think of retirement because you will get old one day and will need money to survive.

3) If you keep quiet about the whole ordeal, you can have the P.I. sign a release preventing any discussion of your financial matters outside of you.  Do your own investigating on who to confer with and be very thorough.

4) There's so much stuff on the market now that this is a non-issue as you can have something custom made to your own premises. Trust me on this.

5) Gotta be smart in this area because all property isn't good property. No need to move as you can be secluded and safe in the state you're already in.

6) Again, this comes with doing your own homework regarding which ever phase of business you're working on. Dating...this is probably one of the more dangerous mixtures. A man or woman with lots of money out on the scene trying to have some fun. This is why it's so good not to let anyone know what's going with you financially. There are some very bad people out there that will attempt anything to get to your money. The same guys who wouldn't give you the time of day before are now hot on your tail, okay. The girls who were too good to hang out with you...you can't get rid of them now. Money is a game changer for people in all situations and don't forget that. Keep your financial business to yourself, babe.

7) You will most definitely do two (2) things in life: Pay taxes and die. Buy yourself what ever you want and enjoy it with repsect to yourself and others. However, try not to draw too much attention to yourself as you'll become a target at some point if not careful. 

Now, these are only my personal views based on what I've seen happen to people I know who came into sudden wealth. Wealth is fun and good, but it can be dangerous and very depressing if not handled with proper care. Best of luck and take it easy!!!

L.L.

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    New Member
    GRITS
    United States
    Member #123554
    February 23, 2012
    12 Posts
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    Posted: March 3, 2012, 4:56 am - IP Logged

    This is a fun post.  I love to dream about what I'd do if I won a huge jackpot!  I also like to read about what others dream about.

    1.  Yes, I'd tell my immediate family and ask them to keep it to themselves.

    2.  To close friends I would say that I've come into a little money unexpectedly.

    3.  I'm older that you -so already used to working with accountants and investment planners.  I would use the same people I've used and trusted in the past.  No PIs.  When it comes to my money, I'm the best PI there is, LOL.

    4.Yes, I would have a security system. 

    5.  I already have my dream home picked out.  A few acres on a river not far from where I am living now.  Not a mansion but a large, comfortable, well appointed home.  Wealth is apparent, but understated.  Same for the car- same Jeep Grand Cherokee, but a new one every year :). 

    6.  I'm glad I'm not single.  Married to my soul mate with wonderful children and 2 precious grandchildren.

    7.  I would love the financial freedom to travel at will.  In the past we have enjoyed scuba diving.  I'd love to dive the Great Barrier Reef.  I would help my immediate family and children.  Establish a trust fund for grandchildren and perhaps a scholarship in our name.  My husband wants undeveloped acreage to hunt on and bring his hunting buddies to.

      Uff Da!'s avatar - InCelebration 001.jpg
      Washington State
      United States
      Member #33973
      February 26, 2006
      347 Posts
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      Posted: March 3, 2012, 7:39 am - IP Logged

      If I won a large jackpot such as the current MM:

      1.  Yes, I'd tell my family and ask them not to tell others.  Since with a jackpot that large, I'd probably be giving each of 18 relatives about $200,000 to $250,000 the first year, I don't know any other way I could explain it than to tell them the full truth.

      2.  All of my relatives live hundreds or thousands of miles away, so they won't see what I spend on myself.  I'd hire an architect to design a new home to be built elsewhere in the state, so my current friends and neighbors here wouldn't know about my lifestyle of the future.  They might raise their eyebrows a bit should I decide to replace my old vehicle with a new Mercedes before I move, but I'd just say that at my age I expect that this will be the last vehicle I buy before someone takes my keys away from me, so I decided to just "go for it."

      3.  I don't see that I'd have need for a P.I.  Though I've dealt with a local attorney, I'd attempt to get a referral to a good tax attorney in one of the large metropolitan areas of the state, with the excuse that I expect to move there.  I'd prefer using an out-of-town attorney to draw up the trust or LLC through which the funds would be channeled because that might cause people to suspect that a tourist rather than a resident of this smaller community bought the winning ticket here.

      4.  I have no idea what I'd do about a security system.  That would be something we'd have to discuss with the architect of our new home.

      5.  I've already been retired many years and I don't want to own many properties or much land.  One new home on a large lot for under $1 million will suit me with even the largest win.

      6.  Legally I'm "single," but I have a significant other.  We would likely marry should I win the lottery.  If I didn't, I'd have to pay gift taxes on the large gifts I'd give him and that wouldn't make sense to either of us as we expect to be together "til death due us part" one way or the other.  And as a married couple, it would double the amount we could gift to each relative each year without gift taxes, too.  I would ask for a prenuptial agreement, but I'd want to include in it enough in wedding gift, annual gifts and the life that he would be amply provided for.  In the event he predeceased me and I began dating again in my 70s or 80s, I definitely would not disclose the extent of my wealth to my dates unless or until things got serious.  And I might not be as generous regarding the provisions of a prenuptial agreement with someone I hadn't known and loved before I attained such wealth.

      7.  What would I buy for fun?  At this stage of life, I'm not big into material things or traveling the world.  Been there, done that.  My "fun" would be in the gifts I'd be able to give family and in the charitable donations I'd make.  Most of my estate would be left to various charities, several of which are already included in my will.  My relatives would get enough to make life more comfortable, but not enough to live like kings.

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        United States
        Member #122468
        February 1, 2012
        530 Posts
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        Posted: March 3, 2012, 8:50 am - IP Logged

        Hey everyone!Smile This is obviously my first post, but I've been lurking on and off throughout the years. I should've joined much sooner, but just like the rest of yous I'm pretty much "living on a prayer" and learning with this game lol. Forgive me if this has been discussed, but I figure with the latest technology and latest JP winners becoming less and less known, it makes me wonder how much of a hassle it may be to win, not earn your way into becoming a multi-millionaire...not that theres anything wrong with that ;)

         

        Some questions and things I'd like to discuss with you guys...just getting ideas thrown out there together so we can all play this game much safer for the future. I've seen that some people already have "plans" ready for just in case, which is smart to me! Now, I'm a bit young and recently graduated college...I'm in no position to set up a single life for myself yet; forgive me if these questions seem a bit naive. 

        1) Do you honestly plan on telling your family? Especially for those who are not married? 

        2) Even if you do or do not (tell your family), how do you explain the transition to becoming a multi-millionaire or suddenly being able to afford "rewards" to yourself/family? Do you have a story planned for everyone around you? 

        3) I plan on using a P.I. before hiring any attorney or professionals around me and my $$, will you? ... but how much can you trust a P.I. as well? 

        4) What kind of security system are you going to set up? I feel the regular ADT systems will not be enough, I'd definitely invest in something more advance <snip> the costs of it all. 

        5) How many properties do you plan on buying or how much land? And if you do plan to move out of state, where to? 

        6) If you are single, do you feel like you will be swindled more when setting up shop? Also, how will you handle dating in the future---do they know right away or is it something you will have to disguise until marriage/death? 

        7) And this is just a fun question: what would you actually buy for fun? rewards for yourself???

         

        So yes, many questions, but I have had to think of this realistically and all the implications for coming into millions of $$ suddenly. Im only in my early 20's, single female, and if it were to happen now or 10 years later...I want to not be overwhelmed by the transition. Paranoid or am I just preparing? Everyone here says to have a plan and watch your back; I agree! So for all intents and purposes, lets say you have won at least the current MM jp of 79.8 mill. I feel like the general consensus here is to take the cash, sooooo. Go! I'll answer later. 

        This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam.

        Hi Lucy, liked your post and here are my answers to your questions.

        1) I would certainly tell my family and would want to make sure my daughter was set for life, parents were taken care of and also would want to give some money to my younger brother. Both of my siblings  have done well with their careers (unlike myself the black sheep of the family, lol). Now this applies only if I win millions.

        2)  I'm a very very shy person so really would dread people knowing I won other than family and friends. I'm not sure one can hide winning millions since in my state I believe you have to come forward to claim your prize, therefore if I won millions it seems everyone (even people like my ex husband) would know.

        3) I would definitely hire an Attorney first thing and other people like a Financial Advisor and a good Accountant. Haven't given much thought to hiring a P.I.

        4) I don't own a home so wouldn't worry about a security system until I bought a home.

        5) Would perhaps buy a small home or maybe a condo in a city (it seems to be easier to be anonymous in a big city). I'm not someone who would buy lots of properties .  Though it would be great to live in either San Francisco or NYC, but do not want to be too far from my parents when I'm needed, so most likely would just travel to those places.

        6) I'm never going to be married again and do not even date so I'm not worried about any potential mates taking me for all my money. If people started asking me for dates I would know something was up, lol.

        7) In terms of what would I buy for a reward for myself I would buy myself a new car (have always had used cars) and I would like a good Martin acoustic guitar. I'm never been a materialistic person and would just want to make sure my lottery money would last for the rest of my life.

        Good luck to you Lucy in your quest to win the lottery.

          CDanaT's avatar - tiger avatar_04_hd_pictures_169016.jpg
          TX
          United States
          Member #121193
          January 4, 2012
          1637 Posts
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          Posted: March 3, 2012, 10:48 am - IP Logged

          1. Eventually tell non immediate family after claim was made, unless sharing it with them. Would tell spouse ASAP, kids - not right away as they starting wanting new toys immediately/ tend to be chatty with their friends or on Facebook.
          2. Wouldn't make major purchases right away..no need for explanation. Do have a story for nosey folks.
          3. Hiring a P.I has no major benefit. Contact ATTY, CPA's and investment team that I already know.Check your local Chamber of Commerce to get possible referrals and long time members.
          4. Get a top of the line system and a large professionally trained German Shepherd or 2.
          5. Depending on $$ amount won, depends on # of places to be purchased. Maybe 2 or 3 different places in other states. Will move within the state or to a state WITHOUT state income tax.
          6.Good luck with the dating scene....do NOT tell you are a jackpot winner...Just say you are an entrepreneur or a representative of a wealthy person who looks for worthy investments(not really lying by that statement).
          7. New Acura NSX & a late 60s muscle car like a Chevelle SS or Olds 442

          Stay Positive, Believe and good things will come your way


            United States
            Member #111442
            May 25, 2011
            6323 Posts
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            Posted: March 3, 2012, 11:19 am - IP Logged

            1. Eventually tell non immediate family after claim was made, unless sharing it with them. Would tell spouse ASAP, kids - not right away as they starting wanting new toys immediately/ tend to be chatty with their friends or on Facebook.
            2. Wouldn't make major purchases right away..no need for explanation. Do have a story for nosey folks.
            3. Hiring a P.I has no major benefit. Contact ATTY, CPA's and investment team that I already know.Check your local Chamber of Commerce to get possible referrals and long time members.
            4. Get a top of the line system and a large professionally trained German Shepherd or 2.
            5. Depending on $$ amount won, depends on # of places to be purchased. Maybe 2 or 3 different places in other states. Will move within the state or to a state WITHOUT state income tax.
            6.Good luck with the dating scene....do NOT tell you are a jackpot winner...Just say you are an entrepreneur or a representative of a wealthy person who looks for worthy investments(not really lying by that statement).
            7. New Acura NSX & a late 60s muscle car like a Chevelle SS or Olds 442

            You have nine states without income tax: Alaska, Florida (your home state), Nevada, South Dakota, Washington, Wyoming, New Hampshire

            and Tennessee. Out of these nine states, only two have taxes on dividends or interest income, New Hampshire and Tennessee. Check us out in NH

            CDana, if you can handle the interest tax? Or perhaps you could look up your best buddy rdgrnr in TN., pick up some of his vintage homemade

            moonshine for you and the Mrs.   Banana

              CDanaT's avatar - tiger avatar_04_hd_pictures_169016.jpg
              TX
              United States
              Member #121193
              January 4, 2012
              1637 Posts
              Offline
              Posted: March 3, 2012, 11:54 am - IP Logged

              You have nine states without income tax: Alaska, Florida (your home state), Nevada, South Dakota, Washington, Wyoming, New Hampshire

              and Tennessee. Out of these nine states, only two have taxes on dividends or interest income, New Hampshire and Tennessee. Check us out in NH

              CDana, if you can handle the interest tax? Or perhaps you could look up your best buddy rdgrnr in TN., pick up some of his vintage homemade

              moonshine for you and the Mrs.   Banana

              Thanks for the tax info....Probably keep FL as a home base....already have some property near Storyland..But contacting Ridge for some Tennessee moonshine ??  ThudMay need a vacation for that lil endeavor !!!!  Hyper.....Having a spot in Alaska should be a strong possibility as well...Merci caboo(beaucoup)

              Stay Positive, Believe and good things will come your way


                United States
                Member #111442
                May 25, 2011
                6323 Posts
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                Posted: March 3, 2012, 12:04 pm - IP Logged

                Vous etes bienvenu!   Cheers

                  CyberSpaceGuru's avatar - 2554
                  New Member

                  United States
                  Member #119385
                  November 22, 2011
                  11 Posts
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                  Posted: March 3, 2012, 1:27 pm - IP Logged

                  1. "I would only tell them when I wanted to remind them, that I knew what I was talking about when they said I didn't"

                   

                  2. I'll say "I guess I got lucky.. etc.."

                   

                  3. Trust the P.I. with only what you tell him and you have no problems.. Never indulge that you wont he lottery, just say it's for your new business!

                   

                  4. Standard as now, I pack heat :)) + others as well incorporated into my home, etc.. depends on how much $$ you want to spend!

                   

                  5. Real Estate is an investment on my list, strategic buys of all vacation and investment homes to maximize return of resale.

                   

                  6. Marriages have their tax benifits, with there emotional hinderances.. Complex situation ofc :)

                   

                  7. This list is a month long of life's little pleasures and anything else I was into at the time :)) thats not a fun question at all :))

                   

                   

                  Nice to meet you as well, I dont post often but I like to,

                  I finally found the active topics to be the best interaction of members, so here I am.

                  I get paranoid sometimes, so I start to prepare more when I do :))

                    CDanaT's avatar - tiger avatar_04_hd_pictures_169016.jpg
                    TX
                    United States
                    Member #121193
                    January 4, 2012
                    1637 Posts
                    Offline
                    Posted: March 3, 2012, 1:36 pm - IP Logged

                    1. "I would only tell them when I wanted to remind them, that I knew what I was talking about when they said I didn't"

                     

                    2. I'll say "I guess I got lucky.. etc.."

                     

                    3. Trust the P.I. with only what you tell him and you have no problems.. Never indulge that you wont he lottery, just say it's for your new business!

                     

                    4. Standard as now, I pack heat :)) + others as well incorporated into my home, etc.. depends on how much $$ you want to spend!

                     

                    5. Real Estate is an investment on my list, strategic buys of all vacation and investment homes to maximize return of resale.

                     

                    6. Marriages have their tax benifits, with there emotional hinderances.. Complex situation ofc :)

                     

                    7. This list is a month long of life's little pleasures and anything else I was into at the time :)) thats not a fun question at all :))

                     

                     

                    Nice to meet you as well, I dont post often but I like to,

                    I finally found the active topics to be the best interaction of members, so here I am.

                    I get paranoid sometimes, so I start to prepare more when I do :))

                    Welcome CyberSG...thanks for joining, enjoy, be positive and contribute as you wish. Heres hoping Cheers that you or me or another LP member win a jackpot soon....Perhaps tonight

                    Stay Positive, Believe and good things will come your way

                      CyberSpaceGuru's avatar - 2554
                      New Member

                      United States
                      Member #119385
                      November 22, 2011
                      11 Posts
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                      Posted: March 3, 2012, 2:00 pm - IP Logged

                      Just noticed that was my 1st post to break the ice :))

                      I dont play for the jackpot right now, Cash 3 and Play 4 are my games, im playinf FFF just aiming to hit 4 numbers at first, but havent started it yet. I've been having good predictions, calculations, luck, etc with pick 3 and 4 so far :))

                      and its only just beggining this year :)

                        Avatar
                        Bronx, NY
                        United States
                        Member #124198
                        March 8, 2012
                        105 Posts
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                        Posted: March 9, 2012, 12:14 am - IP Logged

                        I am also a single female....mid-20s though.

                        1.) I would tell my family but not for at least 6 months to a year.  During that time I would still live as I always had while secretly making the transition (setting up trusts; buying or building a new home; etc.).  I want to get used to the idea of being a millionaire and really think through who I'll be sharing my winnings with and how much.  I've always lived by the motto that if you want to keep something a secret you tell NO ONE.  So I know if I tell one person it's just as good as putting a full page ad in the NYT (especially in my family).  And I would like to delay the barrage of hands in my pockets and guilt trips that I know would be heading my way.  The one exception would be my dad.  He's always been there for me and he'd be the first person I call as soon as I found out I'd won the big one. 

                        2.) I'm just going to tell the truth.  There is no way I can lie because I plan to give some of my winnings (maybe 25%) to family and friends, so they are definitely going to wonder where I got the money from.  And I'm clearly no drugkin pin or Wall Street CEO, so the only other option is...

                        3.) I won't be hiring any professionals.  I already know what I'm going to be investing in and how much.  If you aren't careful these people can suck you dry before you even know what happened. 

                        4.) Security has been a source of concern for me as well.  I have always dreamed about living in a home with a huge yard and neighbors that are at least a football field away from me.  But then I thought how vulnerable I'd be to home invasions and stuff like that.  I would spare no expense on security systems.  Survelliance cameras, alarms, barbed wire, moat with alligators, the whole 9.  I've never liked guns, but I think I would have to get over that fear and protect myself.  I would learn how to use them, get them registered (or whatever it is you have to do to make it legal) and then I would have several stashed away in secret places around the house.

                        5.)I live in the Bronx right now.  I love New York, but as I said, I want a big house with a huge yard, so that doesn't really leave me with many choices in the city.  I would either move further upstate, or somewhere in New Jersey.  I would also buy a condo in Miami and look into buying some property out West...like Arizona/Nevada area. 

                        6.)I'm single and I feel if you are prone to being swindled then it doesn't matter if you single or not.  If you have a good head on your shoulders then you should be fine, regardless.  When it comes to dating, and its someone I really like I wouldn't tell them about my fortune.  I actually had the idea that even after I moved into my big house, I would keep my current apartment, and bring my dates there and act as if I still lived there.  That way I'd know if they were with me just for me.  If after some time I feel like they were "the one" then I would let them know about my fortune.  I don't think you should go into a marriage with something like that hanging over your heads.  Plus when I fall in love with someone, I want to ravish them and give them the world.  I would however make sure that they sign a pre-nup or that they wouldn't be able to get their hands on my money unless I want them to (via a will or whatever). 

                        7.)  My dream car is the Range Rover HSE.  So that would be my first purchase.  And an Audi A5.  After that, I would rather go on trips and experience things (preferrably with my friends and family) rather than accomulate material goods (but don't get me wrong, I'm a sucker for gadgets and big screen tvs like everyone else).   But I want to take my friends on a trip to Vegas all expenses paid.  I would love to take my mom on a trip to Europe.  I hate the concept of zoos; Sea World and all that stuff because I think its better to see these animals in their natural habitat so I'd go whale watching in New Zealand and go to the Serengeti to see the lions and other animals in Africa.

                          CDanaT's avatar - tiger avatar_04_hd_pictures_169016.jpg
                          TX
                          United States
                          Member #121193
                          January 4, 2012
                          1637 Posts
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                          Posted: March 9, 2012, 12:39 am - IP Logged

                          Kudos to you PJ32...Go get em...Got some great ideas there.......Hope you win !!!

                          Stay Positive, Believe and good things will come your way

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                            Bronx, NY
                            United States
                            Member #124198
                            March 8, 2012
                            105 Posts
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                            Posted: March 9, 2012, 11:56 am - IP Logged

                            Kudos to you PJ32...Go get em...Got some great ideas there.......Hope you win !!!

                            Thanks CDana.  I just went out and bought my MM tickets for tonight's drawing so hopefully by tommorow I'll be able to put my plan into action.Cool

                              Bigheadnick's avatar - badluck
                              Taunton, Ma
                              United States
                              Member #123005
                              February 11, 2012
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                              Posted: March 9, 2012, 1:21 pm - IP Logged

                               I could count on one hand the number of people outside of my wife & kids that I would tell. I would move to the sticks and get myself a few very large dogs, better than any security system IMO. I would definitely buy several income generating rental properties as well as fix up houses and flip them when the market rebounds. I would do a lot of charity but it would be anonymous. For myself, I would have to take the trip to vegas and buy in to the WSP while letting the wife have a blast on the slots. build myself a rediculous gaming room, complete with full bar, pool table and all the newest gaming systems to be played on 55" flat's.