Here's What To Do Immediately After Hitting The Jackpot

Lottery balls
Alyssa Guzik
August 11, 2022

The Mega Millions jackpot reached over $1 billion recently. Money like that could go a long way to helping those in our community. 

So if you think you’re the next big winner, these tips will help you make sure you keep your winnings for life.

#1: Protect It And Yourself

Remain anonymous if possible and don’t sign the ticket yet. Also, take pictures of the ticket and put that bad boy somewhere safe, preferably in a newly opened safety deposit box. 

Things are about to get bumpy for a bit.

#2: Tell No One

Money changes everything, and Mama’s long-lost cousin Marcus on her dad’s side, along with every debt collector and scammer, will want a cut. Make a plan of who will get what. The general rule of thumb is about 20% of the winnings to family, friends, and so forth. 

This information is critical for the next part.

#3: Lawyer & Accountant Up!

The only people who need to know anything about the winnings are a lawyer and an accountant. These should be people who specialize in lottery winnings, trust accounts, taxation laws, and financial planning. 

Around 70% of lotto winners wind up broke within five years. A lack of financial planning is typically to blame. Right now, it’s just a dream, but WHEN it happens, be prepared for it.

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