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.
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.
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.
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.