Lottery Winner’s Friendship Shattered After Unexpected Demand Sparks Fiery Fallout
Carve out a portion that you’ll use to help your closest loved ones and any charities that you support. And, yes, have a tiny bit of those winnings that you’ll use to have fun and enjoy a higher quality of life, guilt-free.
If you have a babysitter whom you’ve been underpaying, it only makes sense to pay them a living wage. Especially when they ask for it. It’s only fair. Being economical is all fine and dandy, but if you’re stingy where generosity matters the most, you can end up pushing away some truly talented and empathetic professionals.
Good financial management and basic prudence can help you turn your winnings into generational wealth
According to Investopedia, once you win the lottery, you should consider investing in a financial team to support you. For instance, you should hire a:
- Financial advisor and planner
- Lawyer for estate planning
- Certified public accountant to help you with taxes
It’s probably best if you hire these people before you actually claim your lottery winnings. Another vitally important step is to stay anonymous if possible. Lots of people get jealous. Scam artists might try to weasel your cash out of you. And you open yourself up to the possibility of lawsuits from your relatives.
Living under the radar and practicing stealth wealth is best. Meanwhile, try to avoid spending or giving away your money quickly after you win.
Reckless spending is your worst enemy because it will devour your jackpot faster than you think
Image credits: Getty Images (not the actual photo)
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