As long as you are a winner and not a loser, we consider you to be a responsible lottery winner. We do not support the idea of the government arbitrarily taking your hard-earned money.
If you are financially irresponsible you should be punished by the government. We don’t think that’s fair.
We also believe that if you are financially responsible, then you should be allowed to keep all of your winnings without any interference from the government.
This blog is dedicated to helping winners stay on top of their financial game by sharing our knowledge and experience of lottery winners who have become millionaires overnight.
We hope that our advice will help you stay out of debt and avoid making any more bad decisions about finances than is necessary for any person who has suddenly become wealthy overnight.
How To Handle A $500 Million Powerball Win
The Powerball lottery jackpot is now at $500 million. If you were lucky enough to win, what would you do with that kind of money?
Most people who hit the jackpot will get, after taxes, around $300 million over a 25 year period. That works out to $12 million a year. So if we assume that you’d live on roughly the same amount each year after you won, and put the rest in the bank each year, then in your first year you’d have about $288 million to spend on whatever you wanted.
So what should you do?
First of all – don’t quit your job. Not yet. In fact, don’t even tell your coworkers or boss about your winnings until you have claimed your prize and worked out a financial plan for how to handle it all.
Once you’ve claimed your prize (if there are multiple winners and the prize is split up) then set aside 2% of it into a “slush fund” of sorts and put it in cash under your mattress or in a safe-deposit box at a bank. This is your reward for winning, so spend this on whatever makes you happy – fireworks, private jets,
The Lottery is a huge business as many people like to play them. In the U.S., the lotteries are run by the state and each one works differently. Some states, such as New York, allow lottery winners to remain anonymous and others require that their names be made public.
Many lottery winners don’t realize what they have won until long after the drawing takes place. This was the case of the winner in California who had bought his winning ticket more than a year before he even checked it. He had simply forgotten that he had bought it.
The first thing you should do when you win is sign your name on the back of your ticket. You can then contact an attorney and financial advisor to discuss how you will proceed with your winnings and arrange for your prizes to be paid out in a timely manner.
It’s important that you don’t tell many people about your winnings because there could be some legal problems if someone decides they want to take a piece of your fortune by claiming they helped you pick out the winning numbers or something along those lines.
[The previous note was written in Feb. 2015. Some of the links are broken now, but I’ve left it up as a reminder to myself of how I used to think.]
The most important thing is to keep your money safe. You don’t want it stolen by thieves or gambled away at the casino.
What you really want is a bank that will hold on to your money and not let you touch it until after taxes are paid. (Other than that, you’ll be tempted to blow it all.) You also want a financial advisor who can help you manage your money and make the right investments with it.
I have some recommendations for banks and advisors. And I have some advice about what to do with your winnings after taxes are paid.
If you’ve read this blog at all, you know that I think the best approach to winning the lottery is to remain anonymous. But what should you do if your name needs to be entered into public record. Here are a few suggestions:
1. Start a new bank account in your real name. Don’t use your old one that everyone knows.
2. Set up online bill pay with your utility companies and other accounts and make automatic payments out of the new account. This will eliminate the need for W9 forms and other paperwork in your name, which will get to the public record eventually.
3. Start a PayPal account, so that you can receive money from people, as well as send it out, without using checks that require your name and address on them.
4. Consider opening up a new credit card account, so that any bills you charge don’t have to be linked to your real name and address either, especially if you plan on traveling or buying anything expensive (jewelry, art) in your immediate future.
5. Change your cell phone number and consider getting a prepaid phone card or Google Voice account for future text messages or phone calls to people who may have gotten wind of your new identity.
September 30, 2019
Panthers vs. Texans: Final score predictions
The Carolina Panthers are looking to bounce back after a disappointing Week 3 loss to the Arizona Cardinals as they head to Houston to face the Texans at NRG Stadium on Sunday. It’s another big test for Carolina’s young team as they try and pull off their first road win of the season.
According to BetMGM, the Panthers are 5-point underdogs in this game, which is unsurprising given how well the Texans have played this season. The over/under is set at 46 points and that seems like it will be an easy over.
Houston has had one of the best offenses in football so far, but their defense hasn’t been all that great. Their secondary has allowed opposing quarterbacks to throw for 300 yards or more in three straight games, which bodes well for Kyle Allen. This could be a high-scoring contest.
Here’s what the experts are predicting for this contest:
Bleacher Report: Panthers 28, Texans 27