Things to NOT DO when you win the lottery

The Fukin Prophecy

The Fukin Prophecy

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Don't tell friends and distant family...This is one of the biggest mistakes made, everybody and they mama coming out the wood work for a handout when they find out...

If they ain't your parents, siblings, kids, significant other and lawyer they don't need to know shyt...Toss your phone in the bushes, get a new phone number, quit your job and head for the airport with the immediate fam...Give the number to your lawyer cuz you're going to need them for the legal side...
 
trick

trick

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Honestly I'd do that, I'd use all my PTO and cash out on all my benefits. Hire the lawyer and then set up my trust, then quit and go to the lotto office
 
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Prodyson

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Diddly Drogba said:
Just take the L man. You're idea is stupid.
Click to expand...
While it may not be worth it, he didn’t say anything that would be determined to be insurance fraud. And taking a leave of absence has nothing to do with insurance unless you take a type of leave that affects your other benefits. But, that normally doesn’t apply to insurance unless you go on sabbatical or something.

I worked in Benefits Admin for several years
 
Piff Perkins

Piff Perkins

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1. Accept the money via a blind trust, to prevent headlines or easy google searches attaching your name to large amounts of money. If someone goes through the trouble of getting a FOIA inquiry sure, you may be exposed. But by the time they get that done you'll be fine.

2. Purchase a house you can afford, in a gated community. Second security measure for you, eliminating the risk of people tailing you back to your home or finding your address and trying to stick you up late at night. Cost wise you don't want to go crazy unless you have a shyt ton of money. Take expenses into account. Mansions have high utility costs. You also have to pay for upkeep (landscaping, pool service, etc). Make sure you have a good idea of what you're buying and what you'll be paying monthly.

3. Select an investment strategy. Simplest, best option is to put a very large portion of your cash into an index fund, gradually over time. I'd suggest Vanguard. Let the GOAT explain it:


When you're rich, you will be harassed by your bank attempting to introduce you to various hedge fund managers, wealth managers etc. I'm not opposed to getting involved with some of that, if you have a shyt ton of money (100mil+). But your strategy should focus on index funds for the simple fact that the market is going to go up more than it goes down anyway. Meaning that the thing that impacts you most is the COST of service. Having an index fund is incredibly low cost. Having a broker or wealth manager taking 2-3% is terrible if the market increases by...4%. Suddenly you're losing a lot of money you could have kept.

4. Limit your access to friends and family. Nothing wrong with giving your family some money at the beginning but always remember your family is going to be your biggest security liability. Your family is going to tell everyone that you're rich. Your family is going to tell everyone what city/state you moved to. Your family is going to tell people how much money you gave them. And your family is going to tell people when you're in town for holiday/family events. You can see how this could be dangerous right. Going to grandma's house for Christmas, in the city...suddenly takes on a different challenge. Do you just invite the family to your gated home for safety? Do you go to grandma's house, but have security outside? Congrats, these are things you have to think about now. While understanding the more you pull back, the more some of your family will resent you and say you changed.
 
RARI_Godwind

RARI_Godwind

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dont-tell-nobody-waynes-brothers.gif
 
IsThatBrothaMouzone?

IsThatBrothaMouzone?

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jadillac said:
Everybody talks about the first things they would do, but what about what you should not do.

1. I say, don't quit your job brehs and brehettes. Unless of course you're working a job part time or a job receive no benefits....then by all means quit. But otherwise, keep that job, line up allll your doctors appointments as closely as you can. Get whatever visits, check-ups, procedures, followups etc you need done on your company's insurance. Then take your sick, vacation time etc.

Because what if you needed a $40k knee surgery. Sure you may have won $50 mil lotto, but why waste your own $40k? And let's not talk about going on extended leave. :pachaha:
Click to expand...

Same...my job is fun and I telecommute so I'd probably stick around for a bit.

The money makes a big difference. If the "take home" is $15M, I'd probably keep working but my wife could retire.

If it's like $100M+ take home winnings, I'd have to quit. Couldn't work if I got true "fukk you" money.

In Texas, I can claim anonymously. Big lotto? Probably setting up the lawyer, tax accountant, trust shyt first. Then travel for a minute: Hawaii, UK, just relax and unplug.

Mom and wife would know but other family would find out through lawyers as we invite them to the office to sign NDA's and hand out their share.
 
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nairdas

nairdas

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Man I'm 37 so if I win 50 mil after taxes then I'm 100% quitting my job. Definitely gonna use all my sick and annual leave up tho and then just not show up anymore :lolbron:

I don't think you realize how much 50 mil is. 40k surgery is nothing to that.
 
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