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I don’t know where you are but when you win the big lottery prizes in Canada, your name and face will be posted for “audit” reasons (ie so you can’t come back on the lottery corp and claim you never got that money you won)
Set up a trust before claiming, some states require the winner to be made public. Claiming it in the name of a trust you control keeps your name private.
I don't believe California allows lottery winners to be part of a trust. But the Trust and a good fiduciary planner can setup checks and balances so that you can't blow your money without really trying.
If somebody won $1mil (after taxes taken) how much would it cost to have appointments with a financial advisor on how to use that million? Ballpark estimates are fine I'm just painfully curious
tbf if you start going nuts and 'wasting' it all chances are you actually really do need an advisor or never really 'deserved' it or the responsibility that comes with it in the first place
@@Unknown-ek1ox why would you think a person doesn't deserve money??? That's a dumb thing to think not everyone is an old money Nepo baby with years of experience some people just don't know what to do with money because they never had them.
@@Unknown-ek1ox think of athletes, rappers, and actors, who become millionaires although not all a minority of them go bankrupt because they don't know how to use the money to make it last longer and even grow because usually most of them were poor, underprivileged and thus wouldn't know how to use Thier money properly
@L4IDI agree it's a stupid thing to think not all people especially people who have never had a large amount of money before know how to use it properly.
@@poisonedcyclone Maybe "not deserved" it is a bit of a harsh wording. But my point is that if you're excessively wasteful with it, it's gonna bite you in the ass. "Not deserved it" meant in a bit of a way that suddenly having lots of money and wasting it in excess (I mean pure not smart excess) is like wasted chances many people would've loved to have. I heard of e.g. lottery winners who started an excessive lifestyle and ended up in bigger debt than before. "Yeah, good job buddy", I say.
Always remember the man that hit the lottery and was targeted by a gold digger and her boyfriend. They drained him dry and ended up killing him. You can be smart about being generous.
@@azirious666sounds like you know a lot about sin, mr. 666, also idk how being a kind and generous person could be a sin, the only downside is that people can take advantage of you.
As a lawyer, you really should've mentioned the financial advisor needing to be a fiduciary. Otherwise, they can just invest your money in a way that benefits them.
Yes. Depending on the amount you win, many are more broke within 3-5 years after winning. Comes from being financially illiterate, excited and ignorant of human nature (including their own). Still, I want the ‘problem’!😊
A lot of lotteries require to take a photo but you can cheese that one. Anything they don't prohibit is allowed. Make-up like a clown, fake beards, wigs, sunglasses of ANY size, or a balaclava. When they prohibit that but allow for "religious" headwear, just say you feel like a woman that day and just converted to islam to and wear one those letterbox looking things. Better yet, claim you were a satanist and wear a demon mask.
Not all of them, certainly, and probably not those who are actually real licence holding "Financial Advisors". Legally they shouldn't be able to move any money in or out of any accounts in your name without a written statement from you. The finance industry is one of the most heavily regulated in the world. People get more upset about stolen money than stolen lives.
@@hinoron6528that’s why they trick you and get you to agree without knowing. Maybe learn about finance yourself now that you would have a fuck load of time
Hire a lawyer, fiduciary CFA, and a CPA. Before spending anything, buy a house and some treasury bonds with interest that can pay for the house expenses and property taxes in perpetuity.
This is probably the smartest RUclips comment I've seen in a long time, and I do think about if I were to win the lottery this is probably along the lines of what I would do. And seeing as I live in Texas owning a home is really affordable compared to a lot of other states so I would probably get something that I'd already be able to afford anyway
@@tfae treasury bonds are one of the safest investments. Everything else is generally tied to the stock market which falls into a recession every 15 years. You put the minimum you need to live in both short term and long term treasury bonds so you will always have it as a safety net. The rest you do whatever with. Like me if I ever win half gets donated to charity off the top, in the form of me starting a non profit centered around helping men get tools and equipment for a trade to be self sufficient. Then I buy myself a house with some land and build shop space and warehouse space and equipment for a particular type of business in my industry. I'll build a house on the land for my mom and a house for my daughter's mom to live rent free until she's married no men allowed to move in all on the same property just in private areas of the land. I'll take 50 years of property tax and put it in treasury bonds. Now no matter what happens I'll be covered. But I'll split the land into 5 parcels to minimize property tax across my whole holding. 1 for each house. 1 for business space. 1 for the land all separate deeds. Put a few mil in a trust fund for my daughter to do whatever she wants when she turns 21. Then take whats left and create an asset holding company to make more risky investments, and a third company that owns those and the land. Gotta insulate all of us from weirdos because my state doesn't let us claim lotteries anonymously so I need to create a couple layers that eventually end up at a Wyoming LLC that doesn't publish owner names and addresses. I can be as risky as I want and know if every financial decision I make fails then I will always be able to have a house and the means to support myself and the safe treasury bonds will always be there. It's a safety net.
@KG-tt3nl Sorry just got the notification for this. A CPA is a Certified Public Accountant that can give you professional help in dealing with the tax consequences and compliance requirements that come with winning the lottery. They can also help with tax planning, strategy, and compliance if you want to invest the money. They can cost as much as a lawyer, but are worth it when handling this much money.
Business owners have such fragile egos they don't stand do be on equal terms with their employees. I'm paid for my work and my time, I'm not your slave@@CokeFan-ql6vx
Here's what I'd do: 1. Go pick up the winnings in costume 2. Stick half in the bank to gather interest 3. Quit job 4. Move to a quiet town far away from home 5. Enjoy life
Immediately make yourself an LLC and claim it as a business. Not only does this effect your taxes, but you may also be able to collect without releasing your information.
The biggest problem is not that people without money do not know what to do with it, but that the kind of people who would buy lottery tickets are not likely to handle money well.
just put it in a high-yield investment account and save it for emergencies. and NEVER tell anyone you won. or all of your wife's brother's cousin's son's nephew's girlfriend's exes will want it.
Here is the thing 1) yes hire a financial adviser 2) keep quite if all possible 3) do nothing until all is worked out and on paper 4) never quit, you could be sued by your employer if have a contract or a clause from the company. Just stay quite until all worked out and then put in your notice if want to not work.
1) I had heard from a group against gambling addiction that people that win an amount from playing, and that it changes their live, however brief, are more succeptible to get addicted. So I'd continue to work for a month or so... 2) Coming to point 2. I'd ask my financial advisor to make it so that I can live off the interest generated. 3) The biggest amounts I'd give would probably to allow my two brothers to buy houses or appartments. Otherwise, I'd set up a trust fund for the extended family for periodic purchases, like if they need new furniture, car, maybe a vacation.
Solid advice. Remember kids if you can legally avoid paying extra taxes (like gift tax) do it. Here gift tax from a million would be about 200k for close relative and about 350k for friends and distant family.
That is why the majority of lottery winners end up broke again in a few years. Don't quit your job. You need a steady stream of income coming in. Otherwise you're just burning through your winnings.
Many years ago, a friend of mine at the time won a good amount of money in the lottery. Her name was in the newspaper. Shortly afterwards, her father, who abandoned his family when she was just an infant because he decided being a parent was not for him, showed up at her front door wanting to reconnect. My swearing is enough to make a navy man cry, but even I wouldn’t repeat what she said to him and then shut the door in his face. I had never been so proud of her.
Step one, tell no one and chill till you get paid. Step two, act like you don't know nobody. Step three, live an amazing life on just the interest. Keep a mid range car for visiting family and complain about your "new job" that's far away and financial struggles
my dad always says that if you get a lot of money, you should still live like you dont have it. sure, you can maybe spend more on trips and things for yourself, but for the most part, you just live like the average person because then you dont blow all your money.
You still believe in the income tax bracket. Loser 😂 Times have changed. The monetary system is collapsing quick. That's why the 0.1% are pulling out of the old financial systems.
I am not a lawyer, but I often use commonsense: 1st, the thing you must do is wear a mask and never reveal your face! 2nd, Never Tell Anyone anything. 3rd, never spend anything first in the first year! 4th, get your money in payments and never cash it all out! 5th, focus on educating yourself on paying your taxes, which is 34%-50%, depending on your state. 6th, learn how to invest your money to make more money (compound high interest bank accounts yielding 9-15% returns). If you are wise and love to learn, you really won't need a financial advisor in the first place! ❤
first, start a LLC, second declare the LLC has only a PO Box and bank account and that you simply work for it. otherwise people will line up to try to get hurt on your property and sue
You should also check your state's public disclosure laws. Some states legally prevent you from remaining anonymous, forcing your lottery win into public record. This can include your full name, a photo of you, and where the ticket was bought. While I was unable to find statistics on lottery-related kidnapping/murder in the U.S., I'm more than certain that winning the lottery raises those odds. Please be careful, play responsibly, and good luck!
@@coconutdome5243 Yeah, it's kinda insane if you think about it. I live in Indiana and our state is like that, but Kentucky allows anonymity. So my family usually drives to Kentucky just to play the lotto in the unlikely event they hit it big.
You can sue (guess which country) and can win not to have to disclose your identity. Another trick is to sign your name as a trust. Then ‘the trust’ shows up to collect.
Another thing that’s a good idea is inform as few people as possible. When you quit your job say you have been offered a better opportunity and leave it at that. Only tell family members that are absolutely need-to-know and urge them not to pass it on. This is a good way to avoid scammers coming out of the woodwork.
Depends the state you live in, cause some states make you go public to prove lottery is legit. If you don’t smile to media with your check next to you, you ain’t getting it.
A good piece of advice i read is if you win a lottery, wait before you announce it. Message all your closest friends and families that you are in a bind and need a few hundred bucks. Then after you announce those who blew you off wont have any leverage to beg a handout.
Not just a financial advisor, they will rip you off. Get a fiduciary financial advisor. They are required to act I your best interest. They might still make a mistake, but it will be the exception rather than rule.
If you do win the lottery, I’d suggest you not tell anyone and work normally like nothing happened. One of my dads friend won the lottery for 20 million and took the lump sum. He continued to work normally, when we asked him why he still chose to work. He literally said “I’m not stupid, the only thing different that’s changed is I can quit whenever I get sick of this job” he didn’t quit, still working to this day. He placed a couple million (below 2 million) in a trust fund for each of his kids and the rest he legit gave it to a charity for orphans.
@p-__ I have a feeling no human is going to see this comment, since this seems to be a bot account. But, if there is a human, I legitimately want to know what you hope to accomplish from this? If it's subscribers, why? I wouldn't imagine any content you make would be very popular if this is your advertising strategy
Get a financial advisor & listen to them. Submit to government endorsed robbery, a.k.a taxes. DO NOT TELL FRIENDS AND FAMILY! And try to avoid quitting your job/burning bridges. General rule of thumb whenever you get a lot of money.
Only persons I would tell is my dad and brother-in-law. Both know more than me with huge amounts of money. In Trivial Pursuit there is a whole different thing!
Even for a large life insurance policy this is great advice, watched someone blow a quarter million in less than a year, some smart investments but a lot of unnecessary purchases
@@anton0529 and? Income is income Besides even if i do take every step to owning successful buisinesses theres still chances that i’ll fail, having a job is a good safety net + way to pass the time
If you already have debts, you're already doomed. A regular person prone to owing money would not last long with lotto winnings. Besides maybe college debt or a modest car. But say you have multiple credit cards and are just an impulsive spender, nah yeah, don't quit your job cause you're gonna need it real soon.
There's been many instances where family and friends turn their backs on each other when they refuse to share lottery winnings. Some argue, others sue, and some even kill for it. So if you do win make sure not to tell anyone. Odds are someone (even if it's a complete stranger)will harass you or worse for the money.
The best thing to do is pretend you don't have money. Live like you're slightly over paycheck to paycheck, but most importantly DONT TELL ANYONE THAT YOU WON.
Yes yes and YES! I WAS a financial advisor (am required by law to mention I no longer hold those licences... so technically my advice is just advice now). Common sense and a regular education is not enough. You need an expert who is specifically educated in how financial systems work, and who works for YOU, not your bank. 4 out 5 people who win large sums of money in the lottery end up right back where they started (or worse... good luck getting your old job back if you told your boss where he can stick it on your way out), within just two years, and how much they won makes no difference to that timeframe. Winning the money was pure luck. KEEPING it is expertise and knowledge... and if you're not an expert yourself (with licences proving it), the intelligent thing is to get one.
My advice for anyone with a job is to not burn bridges, don’t act like you’re better than everyone, leave cordially through the legal means and you will have a high chance of getting your position back should the need arise
Rule number one about winning the lottery. Do not spend a single penny of it. Put all of it in a savings account. The interest alone would be enough to live off if you’re smart. Also, saves a load on taxes.
Actually the most important rule is don't apply for lottery 😂😂😂 because the chance of you winning is very very very slim like 0.0000001% chance. It would be a waste of money.
Yep. My father is a great man. And I don't think he plays anymore. But he probably played the lotto every week for 30 or 40 years. I think he just did one game/ticket/whatever they're called. But that adds up to thousands. Yeah he won some money. But nowhere near to recuperate. It's not a investment but a risk. Pretty much all gambling is a risk. (can be argued for Poker and Blackjack. Arguably those take skills or a skill, "card counting". A person can "become a professional" at those, but to my knowledge it's not feasible to go pro on lotto tickets/scratch offs/ or slots machine.).
Literally soap and water cures all. People are too afraid of their own butts to keep them clean, and they wipe with dry tp only. I do wet wipes and am not afraid of my mostly clean butt anyway.
@@A-A-RonDavis2470wet wipes for the win! 💯 whenever I use the bathroom at a friend's house, if I don't see wipes nearby, I'm always like, how does everybody not use them?! 😅
Too paranoid to get a financial advisor, but too paranoid to handle it on my own. As your average girl, I get so much anxiety about buying stuff, that I could easily go by buying the bare minimum for groceries, because I'm scared of the price.
![Seungmin "그렇게, 천천히, 우리(As we are)" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/kAzmhLHePqU/mqdefault.jpg)
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okay mike
Love the videos Mike ❤️
Jayoma is not better 🙅♂️
😂
Please make a butt deodorants brand it would be a top shelf item
Above all, NEVER tell anyone that you won. People send death threats to people and demand money.
I don’t know where you are but when you win the big lottery prizes in Canada, your name and face will be posted for “audit” reasons (ie so you can’t come back on the lottery corp and claim you never got that money you won)
I know of a guy who won close to 10 million and he was receiving death threats from people where he worked at.
Do not even tell your relatives if you can help it.
The 1st winner in Australia had his son kidnapped and murdered. That's why they allow anonymous winners.
The second I win Ms or Bs I'm moving to another country as soon as possible. Keep the money offshore to not have to pay tax in the new country.
1. Tell *_No one_*
2. Collect the money anonymously.
3. Disappear
i guess you can pay child support if you have a million $$$
But then im broke again@@GuidelinesViolator
@@GuidelinesViolatorNah. This is survival of the fittest, bro.
🤡@@sesad5035
@@sesad5035be a good parent and take care of your kid(s).
Don't tell your boss to f*ck off!"
"Yet"
-LawByMike 2024
@@p-__oh
@@p-__cool
@@p-__🗣️
@@p-__uhhhhh I didn't need to know that but ok
@@p-__bro telling us the real facts🗣
Set up a trust before claiming, some states require the winner to be made public. Claiming it in the name of a trust you control keeps your name private.
I don't believe California allows lottery winners to be part of a trust. But the Trust and a good fiduciary planner can setup checks and balances so that you can't blow your money without really trying.
smart!
what is a "trust"
What is trust im not english native so i dont know
and set it up so you can live off interest it earns.
As a financial professional, these are awesome tips. The value of getting an advisor can't be understated.
If somebody won $1mil (after taxes taken) how much would it cost to have appointments with a financial advisor on how to use that million? Ballpark estimates are fine I'm just painfully curious
After taxes they’ll have about $700k. Then you’ll need to pay a few hundred an hour for a financial advisor.
he's very right about the "people who've never had money don't know how to spend it"
tbf if you start going nuts and 'wasting' it all chances are you actually really do need an advisor or never really 'deserved' it or the responsibility that comes with it in the first place
@@Unknown-ek1ox why would you think a person doesn't deserve money??? That's a dumb thing to think not everyone is an old money Nepo baby with years of experience some people just don't know what to do with money because they never had them.
@@Unknown-ek1ox think of athletes, rappers, and actors, who become millionaires although not all a minority of them go bankrupt because they don't know how to use the money to make it last longer and even grow because usually most of them were poor, underprivileged and thus wouldn't know how to use Thier money properly
@L4IDI agree it's a stupid thing to think not all people especially people who have never had a large amount of money before know how to use it properly.
@@poisonedcyclone Maybe "not deserved" it is a bit of a harsh wording. But my point is that if you're excessively wasteful with it, it's gonna bite you in the ass.
"Not deserved it" meant in a bit of a way that suddenly having lots of money and wasting it in excess (I mean pure not smart excess) is like wasted chances many people would've loved to have.
I heard of e.g. lottery winners who started an excessive lifestyle and ended up in bigger debt than before.
"Yeah, good job buddy", I say.
Step 1 - Win a lottery
Step 2- Wake up cause it was all a dream 😢😢
Step 3 stop gambling
@@stevehoward3049-Step 3 stop gambling- Step 3 Continue gambling
@@stevehoward3049 but..but..thats how you even can win the lottery..
@@stevehoward3049"99% of gamblers quit before making it big"
I would shut my ass up about the lottery.
😂
Same
You could but it would hard to keep your secret.
@@rartros717no its not if u have discipline
Yeah it's not like I'm going to win it anyway
Shirlest's Hidden Lottery Techniques blew my mind. I always thought winning was just luck, but now I feel empowered and strategic.
thank you
I recommend it also
thank you
best book ever
very good book
Always remember the man that hit the lottery and was targeted by a gold digger and her boyfriend. They drained him dry and ended up killing him. You can be smart about being generous.
Generosity is the worst sin among all of them
@@azirious666sounds like you know a lot about sin, mr. 666, also idk how being a kind and generous person could be a sin, the only downside is that people can take advantage of you.
@@azirious666so you were meeting that you're a horrible person? Got it!🤡
@@azirious666 thats really not a sin
@@azirious666😂
"Yet" was a wild response to say 💀
If it was me I would have already told him.
@@p-__tf? Passive aggressive bot 😭😭
@@p-__ Congrats, ur not negative like the rest of the bot comments
that was not a response
@@ErasureWorld Yoo it's a Frutiger Aero pfp 🥳
As a lawyer, you really should've mentioned the financial advisor needing to be a fiduciary. Otherwise, they can just invest your money in a way that benefits them.
Definitely
Your financial advisor can do that? That would be criminal in my country. I am a financial advisor in my country.
@@joshuakevinserdan9331many cases. Lots of celebrities have lost millions due to being swindled by financial advisors and managers.
He also forgot that story when a financial advisor killed her client in order to poxket all his money and escape with her husband 💀
@@justaperson1619he not gonna mention that in a 60 second short
word of warning not all financial advisors have a fiduciary requirement make sure they do
Used to be a whole tv series about how winning the lottery literally put people in a worse spot than when they started out
Yes. Depending on the amount you win, many are more broke within 3-5 years after winning. Comes from being financially illiterate, excited and ignorant of human nature (including their own). Still, I want the ‘problem’!😊
In Australia, we don't pay tax on winnings, only on any interest if you invest it. 😊
Feel like the trickiest thing is collecting the money and making sure the world doesn’t know it was you.
A lot of lotteries require to take a photo but you can cheese that one. Anything they don't prohibit is allowed. Make-up like a clown, fake beards, wigs, sunglasses of ANY size, or a balaclava. When they prohibit that but allow for "religious" headwear, just say you feel like a woman that day and just converted to islam to and wear one those letterbox looking things. Better yet, claim you were a satanist and wear a demon mask.
@@p-__ Is it strawberry bananas?
In some jurisdictions you can ask a lawyer to collect on your behalf. Worth doing research to see if it applies to you
you can do it anonymous in basically every country.
and in the countries where you cant people take on the most ridicolous costumes.
@@mauer1 yeah but your name is still revealed in the US?
A young disabled mother from a town near mine, was murdered by her financial advisor after she realized he had spent all her money. RIP Vicky 😢
So I probably shouldn't hire Vicky's guy
That’s terrible. Thumbs down.
That’s HORRIBLE!!!! it’s soooo HARD to trust people these days!
Holy shit, I think I might live in the town where it happened. My mum might have been friends with the victim if I am right
A financial advisor is suppose to advise you, not have access to your money, this is why you hire a lotto account and a tax lawyer.
now a days, financial advisors are stealing that money
Not all of them, certainly, and probably not those who are actually real licence holding "Financial Advisors". Legally they shouldn't be able to move any money in or out of any accounts in your name without a written statement from you. The finance industry is one of the most heavily regulated in the world. People get more upset about stolen money than stolen lives.
ruclips.net/video/JJPEGE5kLNs/видео.htmlsi=s3m1rLhjYiOvAiYZ
@@hinoron6528that’s why they trick you and get you to agree without knowing. Maybe learn about finance yourself now that you would have a fuck load of time
Truth, a bunch of thieves.
ive always heard a fiduciary advisor works in your best interest and a financial advisor has no obligation to. idk for sure though.
If an introvert or an anti social person wins a lottery, they will never regret about being alone their whole life. 💀
As an antisocial person, agreed.
Didn't expect Mike to say the "F" word 😂😂
Hire a lawyer, fiduciary CFA, and a CPA.
Before spending anything, buy a house and some treasury bonds with interest that can pay for the house expenses and property taxes in perpetuity.
There are better investments than treasury bonds, but if you know that, then you probably don't need this advice anyway
This is probably the smartest RUclips comment I've seen in a long time, and I do think about if I were to win the lottery this is probably along the lines of what I would do. And seeing as I live in Texas owning a home is really affordable compared to a lot of other states so I would probably get something that I'd already be able to afford anyway
@@tfae treasury bonds are one of the safest investments. Everything else is generally tied to the stock market which falls into a recession every 15 years. You put the minimum you need to live in both short term and long term treasury bonds so you will always have it as a safety net. The rest you do whatever with. Like me if I ever win half gets donated to charity off the top, in the form of me starting a non profit centered around helping men get tools and equipment for a trade to be self sufficient. Then I buy myself a house with some land and build shop space and warehouse space and equipment for a particular type of business in my industry. I'll build a house on the land for my mom and a house for my daughter's mom to live rent free until she's married no men allowed to move in all on the same property just in private areas of the land. I'll take 50 years of property tax and put it in treasury bonds. Now no matter what happens I'll be covered. But I'll split the land into 5 parcels to minimize property tax across my whole holding. 1 for each house. 1 for business space. 1 for the land all separate deeds.
Put a few mil in a trust fund for my daughter to do whatever she wants when she turns 21.
Then take whats left and create an asset holding company to make more risky investments, and a third company that owns those and the land. Gotta insulate all of us from weirdos because my state doesn't let us claim lotteries anonymously so I need to create a couple layers that eventually end up at a Wyoming LLC that doesn't publish owner names and addresses.
I can be as risky as I want and know if every financial decision I make fails then I will always be able to have a house and the means to support myself and the safe treasury bonds will always be there. It's a safety net.
What is a CPA ?
@KG-tt3nl Sorry just got the notification for this. A CPA is a Certified Public Accountant that can give you professional help in dealing with the tax consequences and compliance requirements that come with winning the lottery. They can also help with tax planning, strategy, and compliance if you want to invest the money. They can cost as much as a lawyer, but are worth it when handling this much money.
"People who've never had money don't know how to spend it." Learned that the hard way when I got my first job.
As if I need to win the lottery to tell my boss to f*ck off
Real
1 thing you must do to get fired
Exactly lmao
Business owners have such fragile egos they don't stand do be on equal terms with their employees. I'm paid for my work and my time, I'm not your slave@@CokeFan-ql6vx
Right……
Here's what I'd do:
1. Go pick up the winnings in costume
2. Stick half in the bank to gather interest
3. Quit job
4. Move to a quiet town far away from home
5. Enjoy life
Why not invest it instead of it falling to inflation in a bank?
@@BorisJohnson1Because if you have enough money, you could die before inflation catches up to you.
Why not leaving the country?
Immediately make yourself an LLC and claim it as a business. Not only does this effect your taxes, but you may also be able to collect without releasing your information.
In my country the tax on the lottery prize is 30%, basically daylight robbery.
No its tax on something youve earned
No. The criminal is how your representatives use that money.
It’s India isn’t it? 😭
I swear governments are like that spoiled kid in the family that throws a tantrum unless they also get a present on everyone else's birthdays too
Your country is the United States?
The biggest problem is not that people without money do not know what to do with it, but that the kind of people who would buy lottery tickets are not likely to handle money well.
Amen.
Deodorant for your butt...🤣🤣
@@p-__what flavour?
Wth
U heard him WHAT FLAVOUR BLUE Raspberry I HOPE
💀
💀💀
I have this irrational fear that if I ever win the lottery and tell my family members, they’ll just straight up kill me
Thats dark
I mean humans are monster
Some will do anything to get money
Based of these horror stories they will probably will
Actually same rn
I like the "yet" because Mike understands how important the 1st amendment is!
I remember the news of that once a guy who won the lottery wore a scream mask to be unrecognisable while collecting the cash😂
Smart
Those 100 dollar bills were real
Yeah he's a lawyer
up course those are real he's a lawyer
He's a full time lawyer and has an enormous RUclips viewership. Of course he's loaded
"I quit" *really regrets his decision*
Fiduciaries are legally obligated to make decisions in your best interests. Not just keep making them money
The hoodie with the dress shirt and tie underneath 😂
another thing is DONT tell anyone
The chances of you getting murdered is higher when you win cause people are so cruel
just put it in a high-yield investment account and save it for emergencies. and NEVER tell anyone you won. or all of your wife's brother's cousin's son's nephew's girlfriend's exes will want it.
Here is the thing
1) yes hire a financial adviser
2) keep quite if all possible
3) do nothing until all is worked out and on paper
4) never quit, you could be sued by your employer if have a contract or a clause from the company. Just stay quite until all worked out and then put in your notice if want to not work.
This ain't the 80s. You don't need a notice unless you want a reference or want to com back lol this doesn't apply
1) I had heard from a group against gambling addiction that people that win an amount from playing, and that it changes their live, however brief, are more succeptible to get addicted. So I'd continue to work for a month or so...
2) Coming to point 2. I'd ask my financial advisor to make it so that I can live off the interest generated.
3) The biggest amounts I'd give would probably to allow my two brothers to buy houses or appartments. Otherwise, I'd set up a trust fund for the extended family for periodic purchases, like if they need new furniture, car, maybe a vacation.
from a very young age my mom made me build a head to toe financial plan if i ever won or made it big in life.
I heard a news where a financial advisor couple killed their lottery winner client for their money and buried them in their own backyard
Abraham Shakespeare? She wasn’t a real financial advisor. She was a 💩.
its all shits and giggles until your financial advisor tells you to give them your money
I wouldn’t be surprised if the “family” i haven’t talk to in years tried to bum off me
Thinking they’d get something and then being really mad because it went to your dog and his cousin..😅
If I won the lottery I wouldn’t tell anyone. I’d keep going to my current job and acting like nothing happened.
Solid advice. Remember kids if you can legally avoid paying extra taxes (like gift tax) do it. Here gift tax from a million would be about 200k for close relative and about 350k for friends and distant family.
Me: wins the lottery
The IRS: instantly spawns at my front door with swat team
YEAH, WHO WIN THE LOTTERY, I DID.
NCR: tax time bitch
IRS: We already took our cut.
IRS: "OUR money."
@@OhSoTiredMan *USSR anthem intensifies*
@@Cynderfan35😅😅
You''ll never know what i wrote here
@@p-__ Aw, a passive bot 😊
@@p-__ No one cares
That is why the majority of lottery winners end up broke again in a few years. Don't quit your job.
You need a steady stream of income coming in. Otherwise you're just burning through your winnings.
@@joeyDeez00 dawg did he ask if u even cared?💀💀
@@Dubb_2X Dawg, your parents wished you were aborted.
Many years ago, a friend of mine at the time won a good amount of money in the lottery. Her name was in the newspaper. Shortly afterwards, her father, who abandoned his family when she was just an infant because he decided being a parent was not for him, showed up at her front door wanting to reconnect. My swearing is enough to make a navy man cry, but even I wouldn’t repeat what she said to him and then shut the door in his face. I had never been so proud of her.
Thanks for the advice 😃
Step one, tell no one and chill till you get paid. Step two, act like you don't know nobody. Step three, live an amazing life on just the interest. Keep a mid range car for visiting family and complain about your "new job" that's far away and financial struggles
Or just hire out an office and chill in it to show you work there, play some games etc
Sounds good.
"Yet" got me rolling 😂
“dont tell your boss to f*ck off” 😄
“yet”
that was wild 💀💀
"because people who never had money" bro called us broke in 1 language💀
my dad always says that if you get a lot of money, you should still live like you dont have it. sure, you can maybe spend more on trips and things for yourself, but for the most part, you just live like the average person because then you dont blow all your money.
Step 0. Report it to the IRS. Last thing you want is to end up in legal trouble because you failed to report your lotto winnings
in what country do they give you the winnings without deducting tax?
You still believe in the income tax bracket. Loser 😂
Times have changed. The monetary system is collapsing quick. That's why the 0.1% are pulling out of the old financial systems.
If you win a million you like 820k. It's already taxed.
@@Creepy_crawlingYou're getting less than 700k. Taxes are a biotch. Especially today, good luck holding onto more than 650k.
@@arcturuslight_ Canada no taxes on lottery winnings.
"Wins the lottery"
"The 7 loudest trumphet:🗿"
"The rapture"
💀
rule number one of winning a lottery: don't talk about it
I am not a lawyer, but I often use commonsense:
1st, the thing you must do is wear a mask and never reveal your face!
2nd, Never Tell Anyone anything.
3rd, never spend anything first in the first year!
4th, get your money in payments and never cash it all out!
5th, focus on educating yourself on paying your taxes, which is 34%-50%, depending on your state.
6th, learn how to invest your money to make more money (compound high interest bank accounts yielding 9-15% returns).
If you are wise and love to learn, you really won't need a financial advisor in the first place! ❤
first, start a LLC, second declare the LLC has only a PO Box and bank account and that you simply work for it. otherwise people will line up to try to get hurt on your property and sue
“Studies show that people that have never had money don’t know what to do with it.” Mike didn’t have to do us like that. 😭😭
It’s soooooo true though. Look at all the sports millionaires who are broke one year after leaving the sport. Sooo sad.
Plot twist : financial advisor asks for money 💀
You should also check your state's public disclosure laws.
Some states legally prevent you from remaining anonymous, forcing your lottery win into public record. This can include your full name, a photo of you, and where the ticket was bought.
While I was unable to find statistics on lottery-related kidnapping/murder in the U.S., I'm more than certain that winning the lottery raises those odds.
Please be careful, play responsibly, and good luck!
With how much information gets told to the public about you, it seems a bit strange that they are pretty much doxxing you when you win the lottery
@@coconutdome5243 Yeah, it's kinda insane if you think about it. I live in Indiana and our state is like that, but Kentucky allows anonymity. So my family usually drives to Kentucky just to play the lotto in the unlikely event they hit it big.
You can sue (guess which country) and can win not to have to disclose your identity. Another trick is to sign your name as a trust. Then ‘the trust’ shows up to collect.
@@jajohnson6905 Ooh, that's genius!
LLC. Set one up and have the winnings sent through it.
Most states allow this, and it keeps your actual name out of the papaers.
Another thing that’s a good idea is inform as few people as possible. When you quit your job say you have been offered a better opportunity and leave it at that. Only tell family members that are absolutely need-to-know and urge them not to pass it on. This is a good way to avoid scammers coming out of the woodwork.
If I win the lottery, you won’t know I won the lottery.
Depends the state you live in, cause some states make you go public to prove lottery is legit. If you don’t smile to media with your check next to you, you ain’t getting it.
But there will be signs
@@hachyboy45769 After you claim it you can move and change your phone number to limit the harassers (optional) you can also change your name to.
The people in the meeting have the most NPC reactions 💀
💀💀
This might make people mad but it’s pre-recorded so that’s why they act like NPCs
That's why it's so good
@@p-__ dude wtf
Thank you Mike. Now I just need to win the lottery 🤣🤣
Lol😂
A good piece of advice i read is if you win a lottery, wait before you announce it. Message all your closest friends and families that you are in a bind and need a few hundred bucks. Then after you announce those who blew you off wont have any leverage to beg a handout.
Remember that one lottery winner that was a "financial advisor". Yeah, well, she killed him and ran off with the money.
I wish i could get advice on how to get rid of these bots on youtube
And number 4, become a financial advisor so you can make money off of people that you're helping to not spend money carelessly
Not just a financial advisor, they will rip you off. Get a fiduciary financial advisor. They are required to act I your best interest. They might still make a mistake, but it will be the exception rather than rule.
Better to win the lottery in South Africa. Zero Taxes on winnings as it cannot be deemed as income.
Never tell people you won. You also shouldn’t spend it on things like cars unless it not that expensive and you need one.
The ray william johnson story for the finacial advisor goes crazy.
Deodorant for your butt... **Native has entered the chat**
Line.😅😂😅
I'd keep my job if I won since I enjoy doing it but it means retirement is automatically coming once I hit 50
Ok either you are working everyone’s dream job, or you’re actually crazy. But on a real note, wtf do you?
@@treywatkins1273 It's hardly a dream job in a general sense, I just enjoy what I do and like my coworkers.
Top Secret 🤫
1. Don’t Tell Anyone 🤐
2. Spend It All 💴
the first step is a very good idea, the second step is a very bad idea
If you do win the lottery, I’d suggest you not tell anyone and work normally like nothing happened. One of my dads friend won the lottery for 20 million and took the lump sum. He continued to work normally, when we asked him why he still chose to work. He literally said “I’m not stupid, the only thing different that’s changed is I can quit whenever I get sick of this job” he didn’t quit, still working to this day. He placed a couple million (below 2 million) in a trust fund for each of his kids and the rest he legit gave it to a charity for orphans.
I would also mention preparing yourself with better cyber security, privacy and ways to prevent scams with your accounts.
@p-__ I have a feeling no human is going to see this comment, since this seems to be a bot account. But, if there is a human, I legitimately want to know what you hope to accomplish from this? If it's subscribers, why? I wouldn't imagine any content you make would be very popular if this is your advertising strategy
@@jacex7207your the bot😂
@@jacex7207 Whatever the comment was, it's gone now.
Now I'm curious.
Get a financial advisor & listen to them. Submit to government endorsed robbery, a.k.a taxes. DO NOT TELL FRIENDS AND FAMILY! And try to avoid quitting your job/burning bridges. General rule of thumb whenever you get a lot of money.
Sounds like all the steps a government cuck would take. Great job.
Only persons I would tell is my dad and brother-in-law. Both know more than me with huge amounts of money. In Trivial Pursuit there is a whole different thing!
This is why If I ever win. Nobody is gonna know.
I’m just gonna take my money and continue living how I am.
Even for a large life insurance policy this is great advice, watched someone blow a quarter million in less than a year, some smart investments but a lot of unnecessary purchases
If i win the lottery im keeping my job idc
Why lose out on income
If you win tens of millions your salary is pennies
@@anton0529 and? Income is income
Besides even if i do take every step to owning successful buisinesses theres still chances that i’ll fail, having a job is a good safety net + way to pass the time
So if you work at McD’s you’re keeping that job, lmao
@@anton0529the point is to keep yourself active
Stick it out till the next 6 to 12 months, still working to make someone else richer while being able to have money work for you is crazy thinking.
Just dont quit your job, pay off any important debts you have with the money, and invest the rest
If you already have debts, you're already doomed.
A regular person prone to owing money would not last long with lotto winnings.
Besides maybe college debt or a modest car. But say you have multiple credit cards and are just an impulsive spender, nah yeah, don't quit your job cause you're gonna need it real soon.
@@TheOfficialDjProduct exactly, a lotto winning is just like a boost you get in a game for daily login.
Jeff is back 🗣️🗣️🗣️
Jeff
There's been many instances where family and friends turn their backs on each other when they refuse to share lottery winnings. Some argue, others sue, and some even kill for it. So if you do win make sure not to tell anyone. Odds are someone (even if it's a complete stranger)will harass you or worse for the money.
The best thing to do is pretend you don't have money. Live like you're slightly over paycheck to paycheck, but most importantly DONT TELL ANYONE THAT YOU WON.
Yes yes and YES!
I WAS a financial advisor (am required by law to mention I no longer hold those licences... so technically my advice is just advice now). Common sense and a regular education is not enough. You need an expert who is specifically educated in how financial systems work, and who works for YOU, not your bank.
4 out 5 people who win large sums of money in the lottery end up right back where they started (or worse... good luck getting your old job back if you told your boss where he can stick it on your way out), within just two years, and how much they won makes no difference to that timeframe.
Winning the money was pure luck. KEEPING it is expertise and knowledge... and if you're not an expert yourself (with licences proving it), the intelligent thing is to get one.
My advice for anyone with a job is to not burn bridges, don’t act like you’re better than everyone, leave cordially through the legal means and you will have a high chance of getting your position back should the need arise
The most grounded LawByMike video in recent memory.
Jeff’s back!
Rule number one about winning the lottery.
Do not spend a single penny of it.
Put all of it in a savings account.
The interest alone would be enough to live off if you’re smart. Also, saves a load on taxes.
1. Do NOT sign the ticket
2. Create an anonymous trust fund
3. Have trust fund collect the money
4. Invest and pull out 4% per year.
Actually the most important rule is don't apply for lottery 😂😂😂 because the chance of you winning is very very very slim like 0.0000001% chance. It would be a waste of money.
Yep. My father is a great man. And I don't think he plays anymore. But he probably played the lotto every week for 30 or 40 years. I think he just did one game/ticket/whatever they're called. But that adds up to thousands.
Yeah he won some money. But nowhere near to recuperate. It's not a investment but a risk. Pretty much all gambling is a risk.
(can be argued for Poker and Blackjack. Arguably those take skills or a skill, "card counting". A person can "become a professional" at those, but to my knowledge it's not feasible to go pro on lotto tickets/scratch offs/ or slots machine.).
Deodorant for the butt sounds like a good investment though
Righttt i was thinking that too😂😂
Literally soap and water cures all. People are too afraid of their own butts to keep them clean, and they wipe with dry tp only. I do wet wipes and am not afraid of my mostly clean butt anyway.
@@A-A-RonDavis2470wet wipes for the win! 💯 whenever I use the bathroom at a friend's house, if I don't see wipes nearby, I'm always like, how does everybody not use them?! 😅
Better call Saul ❌❌
Better call Mike ✅✅
“ do tell your boss to f*ck off… yet” that line got me rofl 🤣😂😂😂😂😂 crazy dude 😂😂😂😂
Too paranoid to get a financial advisor, but too paranoid to handle it on my own.
As your average girl, I get so much anxiety about buying stuff, that I could easily go by buying the bare minimum for groceries, because I'm scared of the price.
So if you win, contact me. 😊