7 Things To Do If You Win The Lottery
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- Опубликовано: 9 июн 2024
- 7 Things To DO If You Win The Lottery - Alux.com Original Video
Learn more: www.alux.com/?s=lotto
Ever imagined yourself winning the lottery or getting your hands on a big sum of money? What's your game plan? What will you do with the money? These are the type of questions you should consider asking yourself at least once in a while.
Having a game plan on what will you do if you win the lottery or get your hands on a lump sum of money will mean the difference between keeping it or losing it all.
Some of the things we'll be touching upon in this 7 things to do if you win the lottery video:
How to win the lottery?
How to play the lottery?
What do you do if you win the lotto?
What should you do if you win the lottery?
How do you invest lottery money?
What's the first thing you do after you win the lottery?
and more..
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When I win the lottery I am living my normal lifestyle,after a few days act like I got evicted,lost my job,and play completely broke to see who my real friends are.
Sounds good
one love 😂.....yup #metoo!
Good idea! 💡
The ultimate litmus test of real/true friendship. Totally genius. 😎
Yup ask for rent money, or food . Who helps you with no questions. That is your friend. Reward that person big time
if i win the lottery...ill sit quietly in the corner of the house for hours..keep calm..and I will say to myself "freedom at last"
Lenny Cruz chill
i would do the same but i would comt suiside as well
Lenny Cruz do you buy lottery tickets
Lenny Cruz lolllll i hear ya!
Lenny Cruz. Same👍😂
First thing I will do when I win the lottery: KEEP MY MOUTH SHUT🤫🤐
Recieving £8,550 is what I never expected, all thanks to Mr nicholas on in Instagram @nicholas__fxtrade who put smile on my face through Bitcoin investments every week.....
Good idea!
Yes Ma'am 😊 Sister
That's it.
best move.
Canada requires winners to attend classes to help them handle issues that occur after a big win.
👏🏼👏🏼👏🏼
Oh Really. I Can't Wait to see you There:D
That's actually really cool. Is there any way one can find those classes and resources online?
Awesome
Wow that’s awesome!
Pay debts. Write mom a check. Disappear.
woosh disappear
Always provide for Mom and Dad
Write mom and dad a check. Then.... leave no trace behind. Haha.😂
You can win the lottery of a lifetime by searching google for the Global Truth Project and reading The Present. The most valuable present you'll ever receive. Do it. What have you got to lose?
GHOST hahahah
1. Tell no one
2. Pay off all debts
3. Move
4. Ensure parents are taken care of.
5. Hire an attorney for legal and money issues.
6. Don't flaunt your new wealth.
7. If you are not engaged or married, just don't.
#7 what about a prenup?
Here here ,and spends any of it ur family or friends you don't have any 😡😔😏😠
One, two and six would be my first priorities. As for seven, it makes a great deal of sense, too.
@@mickyw1455 ,Wise decision.
I would sleep for 3 days straight
I WOULDN’T sleep for 3 days straight. Haha
Recieving £8,550 is what I never expected, all thanks to Mr nicholas on in Instagram @nicholas__fxtrade who put smile on my face through Bitcoin investments every week.....
Yessss
I would buy a house and have it fitted for my elderly mother to come live with me as she gets older. My turn to take care of her. She sacrificed alot for her kids.
You are a good man god bless you and your mother
SA8380000130608010216227ABAN
Awesome ...u deserve respect 👏
Our mothers are God for sure.
NOT TELL ANYONE, NOT TELL ANYONE AND YEP NOT TELL ANYONE
Something tells me that I will not tell anyone
Dont tell anyone if it’s with in a family then sure but don’t tell anyone outside your house they could jealous and they could try robbing you or more bad stuff
Depends on the state you play in. Not all states allow you to be anonymous.
U can tell me 😆
Throw the PHONE away. Pay more to government so they DO NOT show my FACE!!! 🤦♂️😂
You forgot to include the 8th thing. Watch all videos of people who won and are now broke. Then watch them again....again.
Ha ha ha ha ha!
I never understood that...a nose can only hold so much cocaine! If you win the Powerball this Saturday, you'll walk away with over $100,000,000 after tax. Say you buy big houses for five people, give em each a million bucks, buy yourself a $10 million house and a million bucks worth of cars, a big condo in Vegas, one in Manhattan, that's still around a fourth of the money! You have to be a serious dummy to end up broke after that.
Rob Smith not when taxes are involved. Everything you said would be taxed astronomically when they go to file at the beginning of the year.
Then go to Dubai & other tax free nation & enjoy life while investing it, if tax is a major problem
This must be the first thing you do
Seeing Kobe in this ad 😭 R.I.P Mamba ❤️
😂😂😂it s sad 😂😂😂
I still hurt
1) Do nothing for some time
2) Enjoy yourself- reasonably
3) Put the money in perspective
4) What you want to do vs what you should do
5) Open a separate A/C
6) Get financial and professional advice
7) Buffer up between you and friends or family
It is VERY HARD to " Do nothing for some time ."
I would buy a house and a car that is well equipped for my disabled daughter
Well, very good idea you think in your disable daughter
That very good thing to do😊
*MAY YOU WIN IT*
your a great person
I really hope you win if big and help yourself and your family 🤗
The only thing I would have to worry about when I win the lottery, is family members. I would dress up as poor as possible to stay low key. I'm a low key person anyway.
"keep your Job" hahaha
Er Wars like I'm going to keep working for minimum wage while I won the lottery.. Lol
Keep it long enough to make everbody miserable...ha! Just kidding.
Its good advice... Heres why;
#1; you don't want no one to know... So if you do end up on media you can easy block it off by laughing and proving you have a low end job for years...
#2; massive life change. No need to shock the body too. Start slow in spending so you can hopefully slow it down again and make it go further. Being used to it there before adjusting to a new life is just simpler.
#3; be able to find the time to find good deals. Just because you have it doesn't make it last forever.
If I had no job I'd be dead in a couple years.
ikr?
1.) If possible, take the option of a lump sum payout rather than any kind of structured recurring payments such as an annuity.
2.) Consult a financial advisor. You want to give yourself time to think carefully about how best to proceed so that you do not make any rash or foolish decisions.
3.) Immediately pay off all obligatory taxes associated with the windfall. (Remember what happened to the million dollar "Survivor" winner Richard Hatch? He neglected to pay the IRS, and he ended up broke and criminally prosecuted.)
4.) Donate a portion to charity, preferably including the establishment of some kind of fund or organization that can remain a continual source of positive impact in your local community. (10 percent is the traditional and biblical standard for the amount that should be set aside for this purpose.)
5.) Be discreet about how much money you have come into, and tell as few people as possible.
6.) Without being extravagant or foolish, do buy yourself a few nice items right away (some new clothes, a piece of jewelry, a vehicle perhaps, or that moderately expensive toy - - whatever it may be - - that you have had your eyes on for a while) just to give yourself an introductory experience of the abundance that is now readily available to you. Feeling prosperous and living well should be your state of being. But do not be gaudy or a showoff in how you spend money, because this will only attract unwanted attention, thereby simultaneously making you a potential target and announcing to the world that you are a mere parvenu (i.e., an unsophisticated newly moneyed person who lacks both good taste and good judgement).
7.) Focus primarily on the reasonable long-term needs and goals associated with a stable and comfortable life. A relatively modest residence that you can maintain as a lifelong home for yourself is more important than that fanciful world cruise or an ephemeral non-stop party lifestyle.
8.) Regarding those close friends and family members whom you may genuinely desire to assist with their particular needs and/or financial situations, be generous and helpful but also sensible. Do not allow yourself to become anyone's permanent crutch, enabler and/or personal ATM machine. The people who actually care about you and value preserving a personal relationship will instinctively understand and respect that you do not want to be financially exploited.
9.) Whether making an investment or starting a business venture, find ways to make your money work for you by using it to generate more money. Ideally, you want to end up in a situation where you can afford to live off of only the interest/profits being generated without ever having to spend any of the principal. Diversification is also important when managing investments. Avoid having all of your proverbial eggs in too few baskets.
10.) Do not forget who you are, your values, and what is truly important in life. Money is a necessary and useful tool, but not an end in itself. Cultivating an ever present inner sense of gratitude and humility goes a long way towards the refinement of your spirit and humanity.
Thank You for your sound, wise advice.
The best I've found. Especially, the last paragraph. Thank you again and May God Bless You . 🙏
get my mom medical support, she lost her left kidney, make sure she is ok and everything, support all my familys.. then chase my dreams..
That's nice
Good thing to do.
Nice
I hope u win it or enough to help
I hope you win bro, I sense a lot of potential within you.
I learned about financial boundaries. I am ready for this. If I won the lottery, I would pay off my mom's mortgage, and put my dad in a better retirement home.
When I win the Universe will see Me win. I will give my family the best LIFE
C. Willock
Recieving £8,550 is what I never expected, all thanks to Mr nicholas on in Instagram @nicholas__fxtrade who put smile on my face through Bitcoin investments every week.....
What!!! You have your dad in a retirement home!!!???? YOU REALLY DON'T DESERVE TO HAVE MORE!!!
Nice
I WON the Lottery Today and these words of wisdom were right on time !
Happy to help 👌
Congratulations 🎊 can you help me iam in a trouble will you give me 1000 dollars pleaseeee
You’re at least being a little lax with the staying anonymous part 😂😂. But hey I’m happy for ya
Money opens up so many options. I want to go where there isnt many people. I want a home that isnt on top of another one. Id love a new car that i dont have to worry about financing or interest rate. I want to buy groceries for strangers. I want to help so many people.
Kindness
Yep
Sjrick: I work at a non profit near Seattle. I am amazed to see how many of my co workers live in million dollar homes and drive BMWS. They either have wealthy families or rich husbands and they want to work with low income people myself included! That’s great you want to help others!
Amen! Love to be able to help those really in need, Veterans, homeless, disabled, sick, old, new immigrants with nothing, and all the pet and animal shelters I could afford! That would increase my wealth much!
if i won lottery...i would pay alll taxes and then hide from everybody..so i could think
Love this!
Gail Cunningham move to another location, and make friends with people who don’t know you won the lottery. If your old friends know, they hit you up for loans and start resenting the fact you wanna be paid back, even if you don’t ask for interest.
@@kelleymariejones6388 ........You are right .....if you are in a small town and all of a sudden you and your spouse both have new BMW's and a new boat......then you put your kids in the best private schools.....your neighbors can turn into your worst enemies because of envy......moving away is a good idea.
elijah sessom I would live modestly, but people still be resentful of your good fortune, so act as if you have just enough to buy a beautiful home and a modest but reliable car, invest in a business of your passion that will be profitable and make you happy! Tuck the rest for taxes and kids college funds!
I agree! #6 should be #1.
I believe a reasonable course of action would include, but not be limited to;
1.) signing and safely storing the winning ticket in a safe deposit box.
2.) Initially saying nothing to anyone about winning!
3.) Putting together a financial team that includes an attorney, a tax accountant and Investment specialist who can work together and are use to handling large sums of money for clients.
4.) Forming a blind trust ahead of claiming the prize to keep your amenity intact.
5.) Properly invest the majority of your money in several conservative, safe vehicles that offer a good rate of return.
6.) Quietly pay off any and all outstanding debts you owe.
7.) Learn to live and play off the interest, not the corpus!
8.) Never do anything extravagant around your home town. (If you do, the cat will be out of the bag!) If you wish to use your money to party and such do it elsewhere.
Gil Davis Anonymity Depends on the state. In 18 states forming a trust WILL NOT GIVE YOU ANONYMITY. If you buy your ticket in Washington, Oregon, California, Idaho, Arizona, Montana,New Mexico, South Dakota, Iowa, Illinois, Michigan, Georgia, Florida, North Carolina, Virginia, Pennsylvania, New York or Rhode Island, YOUR NAME AND OTHER INFO WILL BE RELEASED, NO EXCEPTIONS.
You're name won't be released in Georgia if you donate 25% of your winning to the state scholarship program
RealDarkFilm That was a proposal and it was voted down. There is NO anonymity in Georgia under any circumstances.
might
RealDarkFilm No, just No.
I’m going to announce on social media that i won - on April1st 😂
I honestly don't see my self going back to work after winning the lottery
Me either, I drive for a living and don't plan on risking my life because I'm too busy daydreaming 😂
At the least, I'd quit immediately and tell everyone that thanks to nepotism, I'm going to work for a friend/family member in another state and disappear.
Of course that won't help for long because I can't win anonymously where I live, so I'd have my flight out of country scheduled for a few hours after going public and tell new acquaintances I live off of investments from an inheritance or something.
Pay off my bills and pay my mom's house and rebuild.
Did she say don’t quit your job? Lol that’s the first thing I’m doing! Never working again in my life. The whole point is to enjoy the rest of your life without working anymore.
Dre Day You don’t understand what she was talking about. If you quit your job you don’t have a Plan B anymore. Humans are stupid they will resort to there primitive selves and spend money on fast cars, outrages clothes and drugs. There is nothing wrong with having a fail safe should you spend all your money which is why it’s wise to keep your current job or work somewhere else.
you sound just like my husband...lol
I’d get a different job that doesn’t have a lot of responsibility but I wouldn’t work the SAME JOB
@@marcusdyer2104 that why if you are a regular lottery player you should have a plan set up already in case you win. So when the day comes you can quit with a great plan in place. Hence, no frivolous spending...if that's what you want.
Yea...but all that money would be perfect to start my own business..make your own schedule..eventually i think you would want to get into something
Don’t quit your job, hold it so someone else who might really need it, can’t get it. Great advice. 😂
Nah, if I won at least 5 million I'd
quit my job. I'd then buy 2 gas stations and a laundromat and probably just continue living in my current house for the rest of my days.
This is the most simple reply to alux I have ever seen.
What state are you from?
@@JohnSmith-bd3xh LOL
@@JohnSmith-bd3xh FAKE FAKE SCAM ALERT BEWARE EVERYONE!
Hey Aluxers, what would you do if you won the lotto or got your hands on a large amount of money?
hi Alux.. your video are awsome.... I learn so much from videos..
i would buy Alux.com
We're happy you do! Thanks for being an Aluxer!
Let us know if that happens Huzaifa Ali!
Gold , Giant ass Mansion , land , island , public house for needed , make my home town become more modest and modern in all aspect , donate to my school , repay my mom and late father , my teacher and everything
no donation. you already donated in the form of taxes. set yourself up first for long term financial life, seek reputable financial advice, invest in real estate, and never let someone else authorize to pay any bills. upgrade home within reason. upgrade a car or two within reason. go on a trip or two. gift a few people that you truly care about but no more than that because people will try to bleed you dry. set up boundaries because no one wants to go backwards. put things into perspective, money no matter the biggest windfall is endless if you waste it.
there are only 2 bad things in life:
1st) not getting what you want
2nd) getting it
I will win soon. Thank you for the wonderful and useful advice.
we will split it.11
if i won the lottery i would definitely follow these 7 steps. without a second thought i would play this video over and over again.
Lisa Rua
Yup! Same here!
Yeah, then i will follow after you😊...
Same here
CHILLING OUT before making moves with the money is very GOOD advice Alux.
True. Family and relatives would drain your finances and money within a year. If I win the lottery I would vanish for a couple of years and only come back when I am financially stable.
when i win the lottery i am going to take care of my family and travel with my love.
Great financial tips. If I win the lottery someday, I would INVEST BIG, KEEP GRINDING while WORKING THE SMARTER WAY and live off the dividends of my invested CAPITAL.
Lisa Lisa how is that a moron? You are!
The most important things to do if you win the lottery:
1- The most important part is to remain anonymous if your State allows it.
2-Take the lump sum instead of an annuity
3- The first thing to do with that money is to payoff all your debt.
4- Although I don't trust financial advisors, I suggest you seek financial advice and help to manage your new wealth, make sure you meet with few different advisers before you chose one.
Then do whatever the hell you want hahahaha
..........
While most take cash payout, I am not one of those fools, I am sticking with the Annuity, The only I will take cash is if it is the only option such as for second prize of 1 - 5 million, and for a scratcher worth millions, the state I am in has the best payouts compared to any other state with scratchers so I am sticking with the annuity instead of cashing out. Since most lottery winners prove that others telling you so is in your best interest is not entirely true as many of them went broke within a few years or in one case or two went broke in a month or less than a year,, while others lasted up to 5 year before they became greatly sunk into debt. Besides the tax is the same either way and the Pb or MM payout is graduated by 5% each year and the annuity for other games for up to 20 years or for life (until you die, plus the lottery payouts on annuity will still get paid out to the name of the estate) offer a more responsible means of spending to stay within said payout limits and can be further invested to earn more interest.
The annuity saves you more money in long run because you are dealing with a fixed amount that isn't much at a time than a large lump sum. No financial advisor necessary as long as you do your taxes the right way.
@@Joshua79Cyou may already know this by now, but plenty of people who have taken the annuity have gone broke or into debt quickly as well.
It's because they bought stuff on credit and massively over extended themselves and ended up selling future annuity payments for pennies on the dollar so they could pay for all the stuff they bought but couldn't afford.
Personally I'd take the lump sum and get help properly investing it for generational wealth and do my best to follow good advice.
Honestly, it's not important which of those options you choose, what's important is that you find good help and stick to a budget.
If you can't do that, you'll lose it no matter which option you choose.
When I win the lotto, I'll buy my dream house :)
When I win the lottery, will follow your advice for sure.
If I win a lottery I will go into farming
Mubaraq Ola do you buy lottery tickets
grand master flash it depends on what he grows, I might farm where marijuana is legal.
Mubaraq Ola That’s a terrible industry to go into. Supermarkets are constantly exploiting farmers for every coin.
Farming is very hard work, and takes all your time to make it work. Maybe have a little fun first...
Good plan
Alux video ideas: Success, building self confidence, making more money, being at peace, gaining wisdom, being independent, getting more done, breaking bad habits, overcoming shyness, reaching goals, avoiding sadness, making your mark on the world, rich money habits, overcoming depression, avoiding bad relationships, getting motivated, success on the job, hoarding & getting organized, overcoming fear, changing your life.
Friends I am going to share with you the same secret that a small handful of other lucky people have used to win lottery…heres the link *4 W i n L o t t e r y . C o m*
Great time to see this, I just won a jackpot recently 👊
The first thing I would do, like you advised is to keep it to myself and say a word to no one. The second thing I would do is to talk with my financial advisor. Pay off any debits, car loan, credit cards, home loan etc...Third, is to put a great portion of it into a separate account such as a credit union account this way I'm not spending it for daily living expenses etc.....The other is to Honor my Lord and Savior with a tithing for he is the GIVER of ALL good things....AMEN!
Dude, I would traveeeel
OhmySweetlittleBlackheart And then you'll be brokkkkkkkkkke within 5 years
Short Names Not if he/she would couchsurf :D
Hell yeah! I'd get a one way ticket to Thailand!
I might travel to one place, like Myrtle Beach, but that would be it if I even decide to travel at all. I basically have everything I need to entertain myself right here in my own state. I don't want to be a stupid Lottery Winner and blow all my money on something brief that won't last me. I'd most likely spend the money on buying a house straight away and using the rest of the earnings to pay for my bills to keep the place maintained.
MegaBall PowerBall Not necessarily. You can travel relatively cheap if you know what you're doing.
I don't agree with all of this. I think it is important to have a very clear plan of action for when you win the jackpot. I think it would be great if ALUX could make a series of well researched videos based on different levels of wealth, for example 10 million, 50 million, 100 million, 250 million, five hundred million, a billion. What is right in these situations is massively different. Also the top five banks Billionaires personally consider the strongest. For U.S. viewers what they MUST know before winning the Jackpot to avoid taxes as much as possible.
Great idea for a series, because you are absolutely right, it makes a difference in the size of your winnings.
I tell my wife all the time that we can't afford to win the state lottery, it's not large enough to fund my dreams😅
Thumbs up if you’re watching this after winning.
Jk, I’m broke af
Lmao 😂
My wife and I won $13mil in 1991and have managed to keep almost all of it since. Most of the above advice is too vague and most winners won't follow it at all. All financial advisers and tax people will tell you to come see them after you collect, not before. We changed our phone number to a different unlisted number and that helped, but salesmen (especially car salesmen) will begin to call you night and day to sell you a Porsche or something. We paid off the mortgages (home and rental property) and then went on vacation in another state. Our state didn't allow winnings to be put into trusts, only paid to person. What most people forget is that you will owe Federal taxes on everything you collect and possibly state taxes as well. On $10 million dollars, that will be between $3-3.5 million going right back to the gov't come next April. They will want a check, not payments. Much of it will be withheld when they pay you so you will never see it anyway. If you have kids in school they will be hassled forever, not by other kids, by adults...teachers, coaches, etc.. asking them if "your parents would like to pay for (whatever)". Oh, and here's the biggy….no matter how many times you insist that the tax accountants, bankers, financial advisers, friend and family please keep the news to themselves, THEY WON'T!!!! I'm still dealing with the fallout of a banker that happened to know some friends of mine and spread it around so quick it wasn't funny.
I quit my job and don't regret it. We invested in real estate and eventually put together a nice portfolio of income producing properties that throw out about $250K per year. We collected about $6.5 million over 25 yrs (didn't have a lump sum option) and have a net worth of roughly $11 million with the income. Very comfortable, three homes, drive a Mercedes, take long vacations, support some family members, etc... OTOH, we also know a few winners that went to jail for tax fraud, trying to stiff an ex-wife of alimony, etc... Don't be stupid, put up with the hassles and enjoy your good fortune.
What would I do? I'd stop being homeless. Then, I would save as much as possible.
I would invest it in real state about 80 % of the fortune
Sounds smart, the type of thing we're expecting from you Aluxers. Might consider diversifying a little.
yup bro you are right i would also be doing the same thing!!!
because there is a good profit in real states.
Alux.com no no no, 80% of your portfolio in real estate is stupid. You want to diversify. Real estate, private equity, stocks, bonds, then think geographically, what countries go up when yours go down? Same logic for industries : which one went up in 08-09? You want your money to work for you, and live off of passive income whatever happens.
What i liked : do nothing at first, give yourself time to get used to the feeling. Use a small amount to have fun. Dream holidays for example. After a while without touching anything only then do you want to buy assets. If you don't know how to do that (chances are if you actually play the lottery you don't) then contact a fiduciary (Ritholtz is my #1 pick, if you can actually get in).
Do resist the temptation to give to friends and family. Don't trust me, read Kobe Bryan 's letter to his younger self on the player's Tribune.
Money will not buy you happiness, but rather emphasize what you already are... Good luck!
Maikol Diaz I guess you wasn't around in 08 huh? Invest 80% in real estate and let 08 repeat itself, You'll be holding a cardboard sign at the intersection!
1EVILZ06 I was here in 2008 and I know the house market was below ground, but with smart investments and knowing the right time to sell I figured I'll be ok
I’m watching these lottery videos in my attempt to be smart about how I invest, finance, and budget my “guaranteed lottery” in a sense of a large nearly 1 million dollar lawsuit settlement Thank you so much
The most important one
is to make sure you have
a separate account, from
your husband, wife, and
relatives and make sure
they can't find any important
papers. Also avoid handling
the money online unless you
are a computer expert.
win lotto just keep quiet
I wouldn't tell anybody if I won. I would keep it as a hidden superpower and continue my regular life. then when someone fucks with you, there is no limit to the revenge you can dish out.
Nick Angelo Depends on the state. If you win in Washington, Oregon, California, Idaho, Arizona, Montana, New Mexico, South Dakota, Iowa, Illinois, Michigan, Georgia, Florida, North Carolina, Virginia, Pennsylvania, New York or Rhode Island then you CAN NOT CLAIM IT ANONYMOUSLY!
MegaBall PowerBall you can start a trust for yourself and have the trust claim for you to remain anonymous
@@TheArchetypeGamer
Not in all states
I would know what to do, family members that always put me down, I won't look at them ever. They have done enough damage in my life and they are still doing it to this day cause I haven't got anything
Agreed, similar story here. That's the BAD news.
The GOOD news is that decision would be substantially easier for you or I than it would be for most average people. "...difficulty saying no to family members who feel entitled to your winnings... =BWAH HA HA HA HA HA HA...NOPE! Not ME! Not ONLY would I not have difficulty saying no, not only would "family" members have a difficult time even locating much less contacting me, but if, after ALL THAT they still had the unmitigated gaul to ask?? Not only COULD I say no, I'd roar laughing and with sheer joy say no.
I agree with your first step; Do nothing for awhile and live your life normally. On top of that assemble a team of advisors that can help you manage your wealth responsibly. You'll need a really good tax lawyer, an accountant and a real good financial planner and all three will need to work together from the get go in order to coordinate their efforts on your behalf.
Next, think about your long term objectives, first. After paying the tax bite follow your teams advise and design a trust, which will manage the corpus. In my case, and maybe yours, this means low risk, tax free investments, because if I have allot of money already I am more interested in capital preservation then anything else. So I will choose to take the 3, or 4% of accumulated annual growth, properly diversified, to live off of; rather then anything that promises a high return but at higher risk.
Design the trust to where you take the day to day decisions out of your hands. This doesn't mean that you don't watch your team and what they are doing like a hawk. But what it does mean is that you need to have someone who is really good at saying "NO!" to act on your behalf. This will help insulate you from family and friends who have their hands out expecting to coast on their relationship with you. There is also the danger to consider that having so much money could mean to yourself and your family.
Among the several things you will need to do is quickly pay off any outstanding debts and obligations you have. This keeps anyone at bay who may want to sue you. And, if you live in a state that requires you to go public with your win find out if your trust can accept the cash to keep your name out of the press. If not, then move! Change your phone number, etc.
Now let's go back to your objectives. In my case, that means setting up a living trust for myself and my family because I want all of us to enjoy the wealth, but in a controlled way. It means, for me that I intend to donate 10% of my portion each year to worthy charities that I wish to support. This includes things like my church amongst others as long as they have a tax free status that can be verified. And since I will do this every year, my church and those charities will prosper.
If I am lucky enough to still reside in my state I will continue to live my life much as I always have. Yes, it's true I will get another car. Nothing fancy, mind you, but reliable. Yes, I will continue with my songwriting career, releasing a new album now and then and perhaps act again. But in any case, I will cheerfully live under the radar here at home. If I achieve anything in those endeavors then they will stand on their own.
But what about doing something special, you might ask?
From time to time, I may do things like travel, eat really great food and perhaps drive an exotic rental etc. But I'll do that out of town where I can still maintain my amenity.
I m going to be a trillionaire
Yashang Thakkar that's greediness
Yashang Thakkar I hope u succedd all is well
Yashang Thakkar good luck you'll need it
when you win or come into that kind of money do not forget about me:)
Yashang Thakkar I want you to be my mentor so that I can learn how to be a Trillionaire from you!
I would pull out a lager sum after taxes and split it by the following percentage.
10%- To Church (I strongly believe that you should give 10% of your income to God )
20%- To Family ( Off the top, I'm letting them know that I'm not a ATM and not to expect anymore money just handed to you. If you need money after this they can work for me. Separate Family and Business. If they don't do a good job, I'll fire them.)
40%- To the Bank ( I would open 2 different account possibly with 2 different banks. 1 of which will house 40% for at least 6 months. Not one dime would be taken out of this account until at least 6 months later when everything has come down. During that time I would seat down with professionals who deals with this kind of money on the daily bases. Look at starting my own business, Investments and Saving Bonds.)
20%- Things I NEED ( Before I start buying/doing things I want; I need to make sure my NEEDS are meant first. Buy a house- nothing to big, furniture and appliances for that house, 2 cars - just in case one breaks down. Homeowners, Auto, Health and Life insurances. And food, clean supply, money for new clothes/shoe and Moraga on the house for the next 5 year in the 2nd bank account.)
10%- Things I WANT ( Now that I gave 10% to church , taken care of my family, future investments, and NEEDS. I can live a little luxurious lifestyle. Travel, Go to 5 star Hotel and Restaurant, Name brand everything, In house Gym, Pool Casinos, Nightclubs, Sporting Events. Hack I'll even buy things that would benefit me later in life like Complete Electric Car, Solar Panels, and Wind Turbines. Hey YOLO ((YOU ONLY LIVE ONCE)) Might as well enjoy it while you still can.)
leeazo lol what church you go to again?
leeazo Money given to family (spouse exempted) is taxed if the gift is over $15,000 at a flat 40% tax that YOU must pay.
Short Names fuck that shit it's already taxed when they take it out from the lump sum. besides no one has to know
Fuck church lol
isnt suppose to be the other way around for the 10% to church ?
hmmm, i think the god MUST give you 10% donation, not you to give it to it.. is the god so silly to be so fucking poor like this ???? LOL
If you win, ask yourself what your friends and family would've done if you hadn't. That's what they need to keep right on doing!
You should secretly figure out what they would do for you if they won. If they are selfish in their hypothetical, you can be free to be selfish in your reality.
Double, triple and quadruple LIKE!
I've been thinking about this for a long time. I'm not much of a spender generally and I'm quite careful with money too, so I wouldn't go nuts and buy stupid things like a boat or a million dollar seaside mansion. I would quit work straight away. I would pay off my debts which totals about $7,000. There's a house I want to buy, it's a low set 4 bedroom house that costs about $600,000 (which is reasonable in my country) and from the looks of it, I could move straight in without doing anything to it other than install an inground pool. Then I would give my immediate family $50,000 each to do with what they want (there's only three of them, the other extended family who I never see wouldn't get anything and they wouldn't find out about my win). The rest would just sit in the bank doing nothing for a while. I'm not a huge traveller and apart from maybe buying a new mattress for my bed, and a new mid sized SUV, I wouldn't be throwing the cash around.
If I won lottery I wouldn't tell anyone. Not anyone I won. I would slowly not communicate ..or just say I'm going to move to Florida Weather there is nice and sunny etc than move to Paris .... Most of my relatives are wealthy so I wouldn't have to deal with any moocher
Still I'd do it that way .. I'm the poor one and never asked ever for anything to anyone ever ! Just for record
That's how I'd do it with Gods Blessings mercy Grace
Yeah. That's the way. Once you win don't forget to delete this comment. All wishes.
"Most of my relatives are wealthy".........
Go on vacation, invest, help family and friends out and yea just live
Would you on vacation?
I just won 67 million and watched this video for some advice, it really helped thanks !!
Yeah..... No I wouldn't continue living as I currently do. What would be the point in winning. Plus were not promised tomorrow. Also I wouldn't put it all in risky banks where its hard to get and in some cases can't get. I wouldn't invest in every fly by night stock. Also wouldn't trust a lot of accountants and lawyers who know how to get their sticky fingers on your money because they know more than you. Goodness sakes. I want to have fun and enjoy it. You don't live forever.also learn to say no! I don't care if your family, if you haven't been around and at least called me. Your going to get a rude awakening and laughed at.
Daryl Tollison - yes. The advice on here was a mixed bag. Some I agreed with some i didn't.
I like how this channel is so positive
First invest money in gold and silver
Your right
When I win the Lottery, I’ll be setting up my own creative company and expanding my RUclips Channels 😄✨🌱
Unpopular opinion: I'm content in my life enough to know that gaining a large sum of money would probably not change much. I know that what I find joy in now is probably what I'll find joy in in the future, and while a FEW may require money it wouldn't be anything substantial enough that could be considered luxurious.
That being said, my game plan for after winning the lottery or gaining a huge sum of money goes as follows:
I tell NO ONE but my family and my closest friend/sister, and I wouldn't even tell my dad.
Take some of it and buy my mom a house. She and her boyfriend are intending to move in together and out of our current house, and theres a house my dad use to live in that has a HUGE garden (she likes growing plants) as well as being decently sized.
Put the rest in a bank account so that it can appriciate in value, then use the extra money as a source of income. I'm not the most knowledgable on buisness and I only took buisness for my juinor cert (Ireland schooling is weird) but suffice it to say that money in a certian type of account gains more money via a spesific percentage. The larger the savings the more that money can generate. So I'd use that money innitally for college/university (only 18) to pay for books, the course and to support myself so I can spend more time to study and not break down (autism+adhd=an increase chance of getting overwhelmed). Then once I do get a job I can still use that secondary income to further support myself as I would start at the bottom rung of the work force, and therefore my beginning pay would be tricky.
Then I'd just navigate through life like I normally would, only I'd have extra support as well as a pretty cool safety net!
I saw another video, where someone commented, call all your family members and asked them for $500. This will come in handy, once you bring it back up to them. "Leverage" lol. This is going to help me focus on my new priorities, while they are talking about me amongst each other "honey, she had the nerve to call me and ask me for $500" " what....girl she call me too, I told her I aint have it" hahaha.. .." you know she called so and so too"
Little do they know, the jokes on them.
im do the same 😂
That’s mean! But sounds amazing!😂
Christina Holmes lol that’s so funny 😂 😂😂
I like this ideal!
haha.... I laughed really hard.. 😂
invest in real estate
Love how everyone seems to have "daddy issues". Everyone's talking about helping their moms 😂
One suggestion I heard many years ago for all the “friends” and “relatives” that suddenly appear looking for a small piece is to tell them that you personally don’t touch the money. That you will inform your lawyer to write them a cheque and they can pick it up from him. When they get there he’ll have the cash ready as well as the “Loan” papers for them to sign. Never give money to these people. If you lend it to them with the expectation of repayment, you never hear from them again. It’ll cost you some cash up front but a lot fewer headaches and returning moochers down the line.
Good idea😍🥰
Take the annuity option.
ginb1289, that can be risky, especially if the state has financial burdens. Lottery programs are generally some the first to get cut, hence...Illinois. With proper investing and money management you could set up a lump sum to generate plenty of compounding interest and live quite comfortably month to month, year to year without jeopardizing your capital. Regardless, talk with a financial lawyer first about annuity options and if it would be the better way to go within your state.
Possible to do Top 10 travel destinations/packages for millionaires? xx
I wish people that won had anonymity. But they don't. The Lottery company makes you do press. Then everyone sees the oversized winning ticket or check. Folks come crawling out of the woodwork and won't leave you be.
Silver Sun Fairy Here in Australia you can opt for anonymity.
It's a few states that allow that. Ohio is one of them
silver if you ever win, dont trip, call a trust attorney and setup a trust and DO NOT SIGN THE TICKET IN YOUR NAME, you sign the trust's name and have the trust cash it in, you will remain anonymous.
While it is to be publicly announced in my state you can still remain anonymous through a Lawyer (or Attorney) via a Trust (blind and revocable most preferably).
www.masslive.com/news/index.ssf/2018/05/lottery_sees_increase_in_winne.html
1. tell no one. 2. if you have debt, save one month's salary and pay it all off, your credit history is important. 3. Continue to work, important to have the reference if you plan to buy a house or an apartment. 4. Don't flaunt, your friends will become envious of you. 5. Invest in your health, finances, and money. 6. Travel some to enjoy places and cultures. 7. Remain happy.
I would go to Donald Trump for advice 😂😂😂😂😂😂😂😂😂
I’ll get a lazy river around my house, like a moat and a drawbridge. 🌱
I like that idea...
Everyone wants to win the lottery, everyone would LOVE the cash that comes with it... but few people have ever gone to the extremes I have, to find out HOW the darn thing works. *4WinLottery. Com*
My first 3 are 1 security move 2 and 3 are 6 and 7 on the list
1) Remain anonymous if your state rules permit it
2) Assemble a team of legal and financial advisers
3) Pay off all your debts
4) Avoid sudden lifestyle changes
5) Plan charitable gifts
I'll invest in coca cola and Berkshire drip programs
i just one $12M and i bought a house and now im chillin
If it true, congratulations! Lucky you...can u tell us how does it feel to get wealthy all of a sudden?
I would pay off all my debt and then start my own podcast
One thing to do, should people learn about your windfall (which will likely happen sooner or later); anyone who asks for money of any kind is told “You’ll have to speak to my Lawyer about that. He/she’s handling all my financial decisions”.
im a father or 2 i will invest in my childrens education. i will buy my family a house dats dey will b proud of..give to does in need but in moderation..get health inssurrance..and live each day wid a smile😁
Choy Reyes horrible ideas
Thank you for these tips. I am confident they will add to my life!!
If i win first i say thanks to God
Already have list and things I ll do when I win the lottery very soon.
How about just win the 10k a week for life lottery.
open a blind trust...
Thanks
After winning the lottery gonna head straight to the altar and cry 🙏🙏🙏🙏💛
If i win the lottery there are a lot of things i would do
If you win the lottery...or get a large inheritance:
(after the money gets within your reach)
1) Pay off all debts you have. Credit Card, Student Loans, House and Car - pay off everything you can do. If you can pay off everything with comfort, do so, if not make sure the Student Loans are knocked off and figure out how to get rid of the rest (i.e. Bankruptcy may now be an option).
2) (If paying off all debts leaves you with plenty of money still) Sit on the money. Even if you must draw from the money for basic living expenses (I know someone who found themself living above their basic earnings), just sit and marinate on the idea that you no longer have to balance yourself between what you want/need and what you have money wise. This also means don't change how you act around financial decisions. Also: Don't quit your job yet.
3) Relax. FOR ONCE!!!
4) Watch carefully. I know that contradicts #3, but you should be able to spot who acts differently. Sometimes, under certain conditions (inheritance), you'll get the signs well BEFORE the money comes in, otherwise you sitting on your newfound wealth should bring out people's actions.
5) Give gifts carefully. You should know your friends well enough to know who needs stuff (and what their needs are), who would appreciate something nice as a gift and who'd just abuse your niceness. Calibrate your gifts accordingly.
6) No New Friends, at least not immediately. You have to recalibrate how you judge people, as you'll now be in a different enough financial category to change how people react to you.
7) Remember the good and the bad. You should be similar enough to what you were before the windfall so that whatever changes are happening are more revelations on the other people's part. Act accordingly.
Thanks for the advice! I’m gonna need it.
I would follow alux instructions.
Their tips follow that of many others recommend, staying low profile and not telling others you are the big winner as many so winners who did suffered the public backlash from scams and woodwork relatives and heartless friends. Keeping your life as ordinary as it previously was is another tips some others also mention.
i dnt fucking care i will just live my life like arbs
Congrats
Thank you this is great info.
I actually would follow your advice to the letter. I learn so much from videos...but it will avail nothing if I don't apply.
Aww, that's very nice to hear! Thank you for your support!