Posted on 10/23/2018 3:53:15 PM PDT by Diana in Wisconsin
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While these big paydays have spawned numerous rags-to-riches stories over the years, they have also spelled disaster for some. Not only do most winners have to deal with people coming out of the woodwork looking for a handout, but there's also bankruptcy, murder, robbery, drug abuse and legal troubles in many cases. In fact, according to the Certified Financial Planner Board of Standards, nearly one-third of all lottery winners go bankrupt.
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If you're lucky enough to score the winning combo, you could be taking home an estimated lump-sum payout of $904.4 million.
While these big paydays have spawned numerous rags-to-riches stories over the years, they have also spelled disaster for some. Not only do most winners have to deal with people coming out of the woodwork looking for a handout, but there's also bankruptcy, murder, robbery, drug abuse and legal troubles in many cases. In fact, according to the Certified Financial Planner Board of Standards, nearly one-third of all lottery winners go bankrupt.
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9. Hire a therapist.
Along with your team of professionals helping you manage your money, you should also consider having a therapist to help you manage all the emotions that come with winning the lottery. "A therapist should probably be your second call after telling your closest family members," said Sandberg. "People who do have a huge windfall can't anticipate all of the emotions they'll feel. It's quite a massive pill to swallow. It's not as joyful as people expect. Expect that you're emotions will run all over the place. It could be terror, lack of deserving, the pressure that your friends, family and strangers might put you under. Find someone who can help you manage the emotional response."
(Excerpt) Read more at msn.com ...
What, no donations to nu to get a new coach?
Dat’s whys I wearin dis TUXEDO
Yeah, and laughed at your jokes
Fingers and toes crossed
“I disagree with the couselor bit, because the more people you tell, the more likely that the secret will get out.”
Keep total anonymity...from everyone!
“What, no donations to nu to get a new coach?”
What do you think it would take to get Nick Saban?
In Lincoln?
Half your winnings?
Hire a therapist? Why? You’ve won a lot of money.Play your cards right and you’ll never have to worry about *money* again.Apart from that...just try to lead a good,decent and happy life.
I read a Meme today
If you find you’ve won the winning ticket. Before you tell anyone. Call all of your friends, tell each of them that you’ve got an emergency and need 500 dollars. Most of them will ignore you.
You’ll need that information and find it instructive for when you go and cash your ticket. And it will make way more difficult for them to come to you after and ask for cash.
And definitely make a donation to Free Republic.
First thing is actually setting up a trust fund with an anonymous name like XYZ trust. There are ways to stay as anonymous as possible because your like and your family life depends on anonymity. Go through your lawyer(s) for anything at the very beginning of paperwork...etc
Once everything is cleared and the trust is set with the money.....then disappear and re-emerge many months later at a undisclosed location other than immediate family
A six bedroom gun safe! With an underground garage.
“”COURSE some of my winnings will got straight to Jim Robinson and Free Republic!””
Heck - with those kind of winnings, you could wipe out the FReepathons for the next 5 or 10 years!!!
Because of many of the problems associated with publicity, many states allow winners to claim their prize anonymously. On top of that, I live on the opposite coast as my family. They would never know.
Oh! And find the people who set up and run the many Clinton Foundations. I’ve always been curious who exactly set those up for those hillbilly grifters. Unsnaggling Howard Hughes’s estate was a nightmare for years but those foundations have to rival anything that was set up for Hughes. Heck - they even manage to avoid taxes until they’re caught and amend old returns. They still manage to get away with it all.
bookmark because I will win.
If I won, I would disappear to small building where all the pet projects live most of the time.
First I would see some professional money managers, accountants, and lawyers to settle with the tax men, set up investments and allowances, charitable trusts for religious and secular causes.
I doubt I would change much else except hire some hardcore fitness and health coaches because I could use help there.
Excellent!
I could use some help with the house and yard. Just a short term bit of assistance to get things back in hand.
certainly will be very generous with the kids and grandkids....will certainly remember brothers and sister and their spouses and their kids....
A couple of the guys said if I won, I’d have about 40 project cars/trucks/jeeps and all of them would almost work.
One treat for myself would be the nicest 67/68 Mercury Cougar. My wife would hate it. She didn’t like the one I had back in the early 00s.
I could use a new car. Mine is from 2004 and has less than 20,000. miles. Unfortunately, mice took it over for a while and did some damage. I’d like something similar to a station wagon, for those of us that remember. :)
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