How to Deal with Demands for Money After Winning a Lottery
Get a reputable financial advisor., Keep your winning as quiet as possible., Change your contact information., Update your will.
Step-by-Step Guide
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Step 1: Get a reputable financial advisor.
Your bank is going to want to tell you how you should invest your money with them.
So is your local real estate agent, mortgage broker, and everyone who does anything with money.
Go with the person who has the best track record.
Setting up some sort of financial plan will increase your chances of long term wealth and will help you not become one of those people who goes bankrupt two years after winning.
And here's the added benefit: having a good advisor and locking a good portion of your money into investments means that you won't have tons of money to hand out to people.
You'll still have enough to live off comfortably and to enjoy but you won't have millions to share. , Do not tell everyone.
Do not hand out $1000.00 tips to everyone just because.
If you do this, then people are going to keep expecting money from you.
You gave that girl at Starbucks money? Why can't you give your cousin's friend more? It can get out of control easily.
It's tempting to want to have a huge party or to do something crazy and it would be fun.
But it will set the stage for people to expect things from you., Close your Facebook account for a while and shut down your Twitter.
Get a new phone number right away.
Only give your new contact info to people who you actually stay in touch with.
This will help you avoid long lost relatives and kindergarten friends who only want your money., You should already have a will and you'll want to update it to reflect your new assets.
No one should ask about your will.
That's tacky.
If anyone is suddenly interested in what it says, then just explain that you'd rather focus on being alive than on your death.
Don't say any more than that your loved ones will be cared for.
That should guilt them into shutting up. -
Step 2: Keep your winning as quiet as possible.
-
Step 3: Change your contact information.
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Step 4: Update your will.
Detailed Guide
Your bank is going to want to tell you how you should invest your money with them.
So is your local real estate agent, mortgage broker, and everyone who does anything with money.
Go with the person who has the best track record.
Setting up some sort of financial plan will increase your chances of long term wealth and will help you not become one of those people who goes bankrupt two years after winning.
And here's the added benefit: having a good advisor and locking a good portion of your money into investments means that you won't have tons of money to hand out to people.
You'll still have enough to live off comfortably and to enjoy but you won't have millions to share. , Do not tell everyone.
Do not hand out $1000.00 tips to everyone just because.
If you do this, then people are going to keep expecting money from you.
You gave that girl at Starbucks money? Why can't you give your cousin's friend more? It can get out of control easily.
It's tempting to want to have a huge party or to do something crazy and it would be fun.
But it will set the stage for people to expect things from you., Close your Facebook account for a while and shut down your Twitter.
Get a new phone number right away.
Only give your new contact info to people who you actually stay in touch with.
This will help you avoid long lost relatives and kindergarten friends who only want your money., You should already have a will and you'll want to update it to reflect your new assets.
No one should ask about your will.
That's tacky.
If anyone is suddenly interested in what it says, then just explain that you'd rather focus on being alive than on your death.
Don't say any more than that your loved ones will be cared for.
That should guilt them into shutting up.
About the Author
Amanda Bishop
Enthusiastic about teaching organization techniques through clear, step-by-step guides.
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