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To: oldvirginian
Wise advice. Many people who win the lottery big make the mistake of gleefully announcing their good fortune to all their family and buddies and making all kinds of promises to them that they will come to regret later.

It takes a bit of discipline but my advice will be to keep it to yourself and go on living your normal life for at least a month or two while you get your financial house in order. Get all your debt paid off (including your mortgage) and work with a trusted financial person to put all that money into a diversified portfolio of equities and bonds (allocation depending on age). What you want to do is to ensure that you will not have to worry about money for the rest of your life.

I would highly recommend holding off on major purchases like homes, cars, boats, etc. Definitely get a new phone and phone number and don't give your number to anybody you don't totally trust. Take a long vacation to a secluded spot where you will have time to think without the distraction of a hundred phone calls a day (which you will get otherwise).

119 posted on 12/06/2021 1:51:56 PM PST by SamAdams76 (I am 79 days away from outliving John Hughes)
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To: SamAdams76

Exactly what I would do.
I would follow the advice given me by the financial planner with a couple exceptions....
I would take a small amount, say $10,000 each, to give to my kids making sure they knew they weren’t getting another penny until I died of natural causes.
I would keep living as I am with the exception of having my vehicle gone over, replacing or fixing whatever was needed.
The one place I would splurge would be for my mom. New appliances, new carpet, whatever mom wants.
The rest would be invested with an eye towards later generations.


127 posted on 12/06/2021 4:44:33 PM PST by oldvirginian (I’m getting tired of being part of a major historical event.)
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