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Stack47

Kentucky
United States
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February 14, 2006
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Feb 8, 2016, 10:23 pm

Quote: Originally posted by LiveInGreenBay on Feb 7, 2016
If I ever won a major jackpot why would I need the advice of a high-priced attorney or "financial adviser"? Common sense tells me to save my money. I'd distribute the money through several banks and live off the interest. As for the attorney and financial adviser...Who's going to watch over the watchers? I don't trust them. In Wisconsin recently an attorney was accused of fraud...She stole millions from clients. Way too many greedy people out there now days. Just my two cents.

I've wondered that too unless the prize winner is using a trust fund. All lotteries have rules lawyers would have to argue against in court which means the prize winner could wait months to collect. Maybe people want to see a financial adviser before validating their ticket is to get directions to lottery headquarters.

Once the money is in the account, lawyers and financial adviser can be very helpful.
savagegoose

adelaide sa
Australia
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April 11, 2006
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Feb 9, 2016, 7:25 am

Quote: Originally posted by noise-gate on Feb 8, 2016
This piece of a lottery winner by the name of David Lee Edward who won $27 million after taxes..

'I want this money to last, for me, for my future wife, for my daughter and future generations.'

Shortly after his win, he hired a financial adviser and a lawyer to look after his assets.

'If he followed my advice, he'd be pulling in about $85,000 a month for the rest of his life,' financial planner James Gibbs told the Broward-Palm Beach New Times in 2007.

Instead, Gibbs says, Edwards sold off the stocks and bonds that Gibbs invested on his behalf.

On Tuesday, his daughter, Tiffani Lee Edwards, said that her father had left her with nothing - not even a life insurance policy.

'There is NO MONEY anywhere!!!!' she wrote on Facebook.

Enough said.

Excellent point made there noise-gate.
and othere, he had a plan just not the self discipline to stick with it.

" Still swinging, still missing "
2014 = -1016; 2015= -1409; 2016 = -1171; 2017 = -1257 ; 2018 = - 1380 = TOT = - 6233

keno historic = -2291 ; 2015= -603; 2016= -424; 2017 =-427; 2018= -223 TOT = -3968

:
Romancandle

Upacreek
United States
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December 8, 2012
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Feb 9, 2016, 10:23 am

yeah... no need to hire financial experts or attorneys... just post your legal and investment strategy questions here at the LP !

-RC
cbr$

Cordova,Al.
United States
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Feb 9, 2016, 1:19 pm

I'll hire a attorney just to look over any contacts & to explain all the small print in them. I hire a financial adviser tell them up front what I'm really interested in & listen to some of their suggestion. FDIC pays $ 250,000 per account. You figure out before hand interest your going to get on your accounts to it never excess the limit. Why? The government only pays up to $250,000, per. a account.If some thing happen in this bank let say one of your account is showing $259,000. The government will only pay you back the $250,000. you loss $9,000. That why you get more then one account in any bank spread it around to many banks never excess the limit. Therefore the government got no freebie. Work at lease 3 days a year so you can take advantage of putting the max amount into your IRA ROTH for you $ your wife it no- taxes on the Roth. Now let say you want to give some money to give some money to your children & grand-children. You have all ready been taxed ones on this money why let them tax the money twice, double dipping. Give the money on Birthdays , Christmas...etc. Here the interesting part make the checks out in a way think lottery . Example a $500. win in the lottery you get no W2-G form. Away put the money $1.00 below what has to be declare & taxed.
LiveInGreenBay

Green Bay
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October 15, 2015
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Feb 9, 2016, 4:05 pm

Quote: Originally posted by Romancandle on Feb 9, 2016
yeah... no need to hire financial experts or attorneys... just post your legal and investment strategy questions here at the LP !

Yea and which are you? A blood sucking lawyer or financial ""expert"" who can't find a real job?

Never give up.
Coin Toss

Zeta Reticuli Star System
United States
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January 17, 2006
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Feb 9, 2016, 7:58 pm

LiveInGreenBay,

Far better to pit a little effort into finding a decent attorney and financial adviser than to deal 'unprotected' with masses of bloodsucking relatives, acquaintances, current and former co-workers, con men and women, scam artists, terrorists who want a cut of your winnings or all of them, etc....

Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners.

There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.
KY Floyd

NY
United States
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October 16, 2005
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Feb 9, 2016, 10:09 pm

Quote: Originally posted by LiveInGreenBay on Feb 9, 2016
Yea and which are you? A blood sucking lawyer or financial ""expert"" who can't find a real job?

Since you're already s financial expert who's capable of managing millions of dollars, why isn't that what you do for a living?