Lottery Winning: What-Not-To-Do, Part 2

In yesterday’s news item we started showcasing our Top Ten Tips for when you’ve won the lottery. The advice may seem unnecessary since winning any of our huge international lotteries would be one of the most exciting and joyous events in a person’s life, but it’s always better to be safe than sorry – especially with your lottery cash prize!

So here’s the second half of our Top Ten Tips for lottery winners, take a look! Don't forget to comment below for your lotto points!

6.    Give away your entire windfall.

It’s lovely to be charitable when you have the means, and by all means donate a portion of your winnings if you want to share your happiness and good fortune. But to donate it all and perhaps down the line face a crisis for which you don’t have the means to remedy it any longer certainly would leave you cold.

Giftbox of cash

7.    Support every business idea that comes your way.

Of course your friends and family will be as excited as you about winning a huge lottery – because, finally, they will have the chance to pitch you every insignificant and extraordinary business idea that pops into their heads! Your game plan? Decipher who has a solid business plan and go with it! Just make sure you won’t be losing too much with the investment. You’re not obligated to fund any business just because you won the lottery.

8.    Become obsessed with the material.

You may be a newly-minted millionaire but the amount is a finite one and as was mentioned in yesterday’s news item can be used up quicker than you’d think. You may want to own a 200-ft yacht or even try dodge your taxes in an attempt to keep up with the lifestyles of the rich and famous but the material possessions are a one-way ticket to Broke Town.

Basket of eggs

9.    Manage your own finances.

Having a good team of experts to assist you in managing your windfall will ensure your lottery winnings’ growth. They will know where to invest a portion of it and how to set up a realistic budget that still allows you to live the good life.

10.    Spend, spend, spend!

It’s the natural reaction to winning the lottery – you want to go for a shopping spree! So long as you know when to stop…Some lottery winners in the past have set a precedent in their social circles of buying things for people and have gone broke from it. You don’t want that to happen, do you?

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Comments

Posted by Boris (14/01/2014)

After the natural reaction to winning the lottery - go for a month break!


Posted by Clint (14/01/2014)

It have some people who won the lottery in the past is broke today because they did not had an adviser, this is a proper guide to maintain my richest when I win the lotto.


Posted by IWw0Ut- (14/01/2014)

very sensible advice. i think it should be made mandatory that all jackpot winners are counselled and appointed a financial mentor for the first 3 months from taking his jackpot win. this will certainly help in the long run.


Posted by BXkQK (14/01/2014)

I would suggest you have 3 backup plans in case of emergencies that are as follow. 1. Take a coarse on the job you always wanted. So should be bankrupt you have a career that you like to fall back on. 2. Stock up on gold and diamonds and dont keep it with you or near you. Stash it in a secret safe place. 3.keep a separate account with some retirement money and dont touch it let it run interest up interest. If you follow these 3 steps you should be ok, in addition you should have a good bussiness that generates a income every month that you can live off. And voilla set for life.


Posted by Johnny (16/01/2014)

Yes, its good guide lines and I'll do that way when WINs come my way...hahaha


Posted by Balasubramaniam (16/01/2014)

TOP TEN TIPS GIVES THE LIFES


Posted by Balasubramaniam (16/01/2014)

TOP TEN TIPS GIVES THE LIFES


Posted by Sharat (20/01/2014)

it is good if the winner keeps calm for sometime, allowing the dust to settle down.


Posted by EpK0 (21/01/2014)

Everyone should enjoy there winnings wisely.


Posted by Deborah (22/01/2014)

I'm going to win and I'm going to share.My family needs a little extra too.


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