7 Things To Do If You Win The Lottery

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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[melaninwarrior]

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.

[madamelogicbombdropperblac]

First thing I will do when I win the lottery: KEEP MY MOUTH SHUT🤫🤐

[lennycruz]

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"

[Larry-qzes]

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.

[Eric-robw]

Pay debts. Write mom a check. Disappear.

[jeffharbaugh]

Canada requires winners to attend classes to help them handle issues that occur after a big win.

[scottam]

You forgot to include the 8th thing. Watch all videos of people who won and are now broke. Then watch them again....again.

[Cristina]

Seeing Kobe in this ad 😭 R.I.P Mamba ❤️

[slinkiegirl]

NOT TELL ANYONE, NOT TELL ANYONE AND YEP NOT TELL ANYONE

[sophia]

I would buy a house and a car that is well equipped for my disabled daughter

[altonfernandes]

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

[lupaman]

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.

[achosenvessel]

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.

[lovethwillock]

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.

[jaysemuese]

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..

[Daniel--Ponce]

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.

[gildavis]

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.

[MaxsonAtTheFort]

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.

[gailcunningham]

if i won lottery...i would pay alll taxes and then hide from everybody..so i could think

[phreddphlintstone]

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.