What to do if you win the lottery???

Yesterday, Pedro Quezada announced himself as the recent Powerball winner: $338M jackpot, lump sum is $152M after taxes.


He says he first wants to help his family, which is a noble cause. That is a lot of money to go around but in a scenario where you are the winner, it does beg many questions.

1. How to avoid blowing that money and staying alive?
2. How to secure "credible" and "trustworthy" attorneys, financial and tax advisers?
3. How to not allow parasite family members, friends and newly found family members suck you dry?
4. If you wanted to forgo hooking up with attorneys, advisers, etc, what is the best way to secure your money?
5. Investing? Invest in what?
6. If you do put your money in the bank, what type of investment vehicles or savings portfolios should you use? How many banks to spread your loot across?
7. Depending on winning amount ($3M - $Hundreds of millions) how to invest it wisely?
8. Charities and the non-stop phone calls from good-cause organizations trying to suck you dry? How to mitigate that?
9. What else am I missing?

Any lottery winners on here or credible advisers to spread some knowledge?

reply to post by Jaellma


I would buy land....Preferably an island...That would be my investment.....There is no way I put money into a bank NO WAY!!!

Then I would see on ATS who replied to my thread (or post ) and give them a piece for their interest.....

If you win the lottery, remember the little people....

1. How to avoid blowing that money and staying alive?

Invest in real estate, banks and stocks. If possible open a small business.

2. How to secure "credible" and "trustworthy" attorneys, financial and tax advisers?

Don't let them control everything, don't act lost or confused in front of them, do not act like you NEED them.

3. How to not allow parasite family members, friends and newly found family members suck you dry?

Give money to close family members that were there when you were poor and when you were down. Rest leave them alone and don't bee compassionate(if they need medical help, help them).

4. If you wanted to forgo hooking up with attorneys, advisers, etc, what is the best way to secure your money?

Split money(into small sums, like 1-5 Million) into different banks and definitely different countries.

5. Investing? Invest in what?

Homes, real estate, small business, stocks, lands, and lands and lands.

6. If you do put your money in the bank, what type of investment vehicles or savings portfolios should you use? How many banks to spread your loot across?

Split into many banks, in and outside countries, each split about 5 Million, invest in Stocks. In some countries you can get $1000 per month from 1 million dollars.

7. Depending on winning amount ($3M - $Hundreds of millions) how to invest it wisely?

If you win less than 5 Million, you don;t really need worry, just act like you are today but more cautious. My previous advice was for 15M+

8. Charities and the non-stop phone calls from good-cause organizations trying to suck you dry? How to mitigate that?

I was told by someone who won lottery, 12 Million, that you can either Pay some amount of money(i think 10% of your winning) to Lotto corp and hide you identity or pick 5 charity and give them some money and advice other charities of your spending... or you can be mean and kick them out, its you money.

9. What else am I missing?

Security, move into well secured area, keep low profiles, careful of new relationships, have trustworthy friends around you.

If I won big in the Lottery, everything in the world would fall apart and the money would be worthless. Lets just hope that I don't buy a winning ticket.

To be honest that sounds like such a chore.
Buy a nice house, put some in trust for your kids. Keep a mill or two for income. Give the rest away.
That would be my way of dealing with it.
A million each to my extended family would leave about 20 mil for the kids and the Mrs to make sure life was easy.

I wouldn't fancy having security details and worrying about investments.
Just a house with a bit of land and never having to get up for work again will be fine.

Of course, there's always the option of either building an army of ex spetznaz and taking over a small country or losing your mind to mounds of coke and hordes of strippers. ..

Originally posted by rickymouse
If I won big in the Lottery, everything in the world would fall apart and the money would be worthless. Lets just hope that I don't buy a winning ticket.

Wow your luck sounds about as good as mine......The following day after winning money is like Zimbabwe currency or something.....Completely worthless and you can't buy a pack of gum with what you just won.....

One day my friend this petty stuff will cease.....

My Debt, then any debt my nearest family has.
After that, a house.

Most important, at least 10mil in a savings account to earn around 50-80k interest a year to live from.

reply to post by Jaellma

1. How to avoid blowing that money and staying alive?

You could simply bank some money, and live quite well off interest. I'm not a big fan of banks, but heck, just putting 10 million in various bank accounts getting 2% interest, would get you $200,000 a year just in interest.

2. How to secure "credible" and "trustworthy" attorneys, financial and tax advisers?

Don't know if I could trust ANYONE there...

3. How to not allow parasite family members, friends and newly found family members suck you dry?

There's a lot there to suck. I'd certainly make sure my friends and family benefited from that kind of a windfall. Give them set amounts, and let them make or break with it.

4. If you wanted to forgo hooking up with attorneys, advisers, etc, what is the best way to secure your money?

Some in banks, in various interest bearing accounts, a lot in cash, in secure safes, and with a lot of security measures, and other investments (see below)

5. Investing? Invest in what?

Good, solid, dividend paying stocks.

6. If you do put your money in the bank, what type of investment vehicles or savings portfolios should you use? How many banks to spread your loot across?

Only ever put the maximum FDIC insured amount, in any particular bank account.

7. Depending on winning amount ($3M - $Hundreds of millions) how to invest it wisely?

Have to decide what kind of lifestyle to lead. In the first one, I could live off $200,000 interest from that 10 million in the bank, quite well, no problem.

8. Charities and the non-stop phone calls from good-cause organizations trying to suck you dry? How to mitigate that?

Give only what you want to give.

9. What else am I missing?

You have to have FUN with some of it, of course. Whether I won 3 million, or 300 million, I'd first set enough aside to have good income from that money, then work with the rest. I'd do up my preps right away, instead of over time, for one... But I'd also get out and do some enjoyment of life. We'd travel a lot. I'd give some money to friends and relatives (relative to how much I won) to help them make their own success....

I have had a windfall before, and while we "blew" it, in my opinion, we do have a lot to show for it...so having been there once, I have learned a lot, and wouldn't duplicate some of the same mistakes. A lot of it was from simply being the nice people we are, and we got taken advantage of more than we should have, but some of it was our own stupidity too.

reply to post by Jaellma



Why lie....

I would enjoy my life of absolute hedonism, sloth, decadence, and sin. I wouldn't invest a penny. I would give away vast amounts of cash to worthless charitable causes and start a home for primates that have been experimented on in the holy name of "science"..........

reply to post by Cyprex

Most important, at least 10mil in a savings account to earn around 50-80k interest a year to live from.

Now see, this would one of my 1st concerns. Let's say I won $100M in the lottery, after taxes, I would want to stick maybe $50M of that into banks and live off the interest. I am thinking the interest would be, what, 3%, so expect $1.5M annually? Of that money, I could comfortably live on 10-20 of that $1.5M interest money and (1) invest in a small business and also "give" the rest as gifts to needy family members. I know the government would want to tax my gifts and also my money from interest. 50% of my principal would stay in the bank and I still haven't decided what to do with the other $50M. Maybe bury it offshore somewhere.

Land and bring in some permaculture consultants to make sure theres a sustainable ecosystem for my life and the lives of any family that want to take it over when I croak.

1st - Pay off all bills.
2nd - Buy a large amount of land in Texas.
3rd - Build a nice house, surrounded by security fences, with a pool, shooting range, nice big patio with outdoor fireplaces, a room for my library [floor to ceiling book shelves] with a walk in humidor of course, furnished with comfortable chairs and a big screen TV.
4th - New car for my wife, new truck for me, safe car for the kids.
Start My Own charity to help kids.
I would imagine if you won that kind of money, you're going to find out you have a lot more relatives than you thought, so I would make it very, very hard to get in touch with me. Charities are going to hound you to give them some of it. The way they handle money, I never give them any.
Then, buy me a couple Senators and maybe 3 -4 Congressmen.

I am about to obtain a decent amount of money from my father's life insurance...nothing even NEAR millions....and I have to say...with all that's going on in Cyprus and with the Euro....I just KNOW when that check finally comes, (in the next few weeks), THAT'S when TSHTF in the US and my money will be better served as toilet paper...(and I thought I was the only one that thinks they are a walking bad luck symbol.....)

So...when my check comes in.....the end of our economy is near at hand....cause some people just aren't meant to have it good.......

reply to post by Chrisfishenstein


You are my bestest ever bestest ever friend and i will love you for ever and ever and ever...

NOW... when are you going to send the cash across"... "did i really say that i cannot belive i did"!?

*cough cough*

I would invest in my family and closest first and then donate a couple or hundred of millions to a charity that i think worthwile such as an independent childhood disease or cancer entity.

Sincere respects

Rodinus

Me personally, I'd buy up a lot of the land around me, and probably move some of my friends into those homes, and use extra land for grazing, growing.

I'd definitely do some added things to our home, like add in an awesome pool area.

I'd put up some beautiful iron fencing, all over, full video surveillance, and complete solar power...with backup diesel generators.

I'd get some nice, newer trucks and vehicles, but nothing crazy.

I'd tear down, and rebuild the secondary stable, as it isn't the same style, or as nice as the main stable. I'd add central heat and air to both stables.

I'd do all of my planned preps and then some, instead of trying to do it on a budget, and over many years.

I'd make sure all of my close friends and family benefit from it as well.

We'd close the tack shop, convert that to some other room (probably like a theater room), and open a different business that we've always wanted to do, but that would take a lot of startup capital.

What's the saying?
Own a gun and you can rob a bank. Own a bank and you can rob the world.

Is 150 Million enough to open up your own bank, or banking branch, or buy into one of the banking franchises?

Whatever the case, I'd for the most part pretend the lottery didn't happen.
I wouldn't publicize, or broadcast it to anyone.
The greater portion of all the money would be invested toward the purpose of making it to the Billion mark.

I do fairly well already, so, it wouldn't really impact my lifestyle much.

I might burn $2 million to hire Blackwater style security contractors specialized in hunting, tracking, and survival, to hunt down bigfoot and bring me a body to put a stop once and for all to the sasquatch question.
If that's a failure, then oh well.
I'll continue to live as I already do, with the added greater cushion to pursue whimsy, but nothing too conspicuous.

The most goes to making more money up to and over a Billion.
When/if trans-humanism, posthuman replacement bodies come available, thus securing effective immortality, well, then it's time to start getting off this rock into the realms of science fiction and beyond.

My big problem is what to do if I don't hit the lottery.

If I won the lottery, I would see to it that the midgets in my country had proper fitting lederhosen, I would end the practice of cat juggling. I would establish a center for ants. I would buy an endless supply of Chinchillas, a fur sink, a gasoline powered turtleneck sweater. Oh, and I'd buy a few stupid things too.




www.youtube.com...

I would use an easy answer:
If they ask for money, don't give it to them.

Whether a charity, a friend, a relative...as soon as someone asked me for any of it, I would refuse.
I would, on the other hand, pay bills. If someone is going broke paying for medical bills, I would pay the bills for them. If someone needed a car, I would buy the car for them (circumstances play a big part).
But I don't think giving people money is a good answer to anything.

Honestly, barring an economic crisis of some sort, I think ATS'ers would be set for life with a lottery win. Most winners end up broke because they buy TONS of crap they don't need, plus multi million $ houses, ridiculously expensive cars, etc. I think I can safely say, most of us here on ATS have learned how to deprogram themselves from 'keeping up with, and being better than, the Joneses'.

Set me with some property, an earth house, some renewable energy, a good well, and a garden/grow dome, and the rest of my winnings could go to family or charity.