Have you ever thought about what you would do if you won a million dollars or more in a state lottery drawing? After the initial shock and the tidal wave of euphoria wears off, there are some things that experts recommend that you should do before you do anything else.
Here are some things that the experts are telling us that we should do if we should suddenly be burdened with new-found wealth in the millions:
First, we are told to do nothing but rest and collect our thoughts. Winning huge, life-changing sums of money tends to throw people off their game and they sometimes find out they can’t think straight for a period of time. Check the state lottery bureau to find out how many days winners in your location have to claim their prizes. Use a couple of those days to decompress.
The next thing we are told to do is to make several copies of your winning ticket, perhaps even take a selfie of yourself with the ticket and then put the ticket in a bank safe deposit box or some other absolutely secure place so that it doesn’t get lost or stolen.
Most experts I have talked to have told me, “Don’t quit your day job right away either. Keep your mouth shut about your good fortune, tell no one no matter how great the temptation to shout it out to the world. If the prize is big enough you might become the immediate target of friends and family that you have never heard of suddenly coming out of the woodwork. You may find you have all kinds of sales people phoning you and knocking on your door at all hours of the day and night.
Change your phone number is another piece of advice that I have been hearing.
The next thing a good friend told me once is to obtain the services of a good attorney, a well-known reputable financial advisor and a reputable accountant. The attorney can be a God-send if someone places frivolous lawsuits against you, the financial advisor can tell you how to invest some of your money so that it makes more income for you …and the accountant can keep track of your bills and your bank balances.
It has been reported that most big prize winners go broke in a relatively short time because they do not do the things I have just suggested and they go around spending money like wildfire because they get the idea sometimes that since there is so much money, the supply is endless.
I had a brother-in-law once who went the way of irresponsibility after he pocketed Four Million dollars from the Illinois state lottery a few years ago.
My brother-in-law got a swelled head and started buying automobiles for all his kids, bailing them out of jail when needed, playing high stakes poker with his cronies at a local Legion hall, taking himself and his wife on European tours once a year, throwing a massive lawn party at his newly-acquired farm where he fed a huge crowd of friends and neighbors and hanger-ons his special hamburgers that he cooked on the grill …not to mention the load of beer and booze that he bought for the occasion.
His house was new, his automobiles were all new, the furnishings in his home were all new, the clothes on his back were all new …he made loans to friends and family, he wasted, squandered .. and in the space of Two years, he was stone cold broke asking me for a job in my factory.
Be wise as serpents, my friends … be wise as serpents and harmless as doves.