So You’ve Won The Lottery?

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This is it, the dream that countless people have always had. You just won the lottery big time! So what are you supposed to do next? You have heard of all those horror stories about lottery winners. There are countless variations, lost lottery tickets, winnings lost due to taxes and improper handling of the money, and more. Yet it does not have to be so. If you ever win the lottery, bear in mind these things and you will be better off.

First, keep your mouth shut. I know, your instinct would be to shout it from the mountain top and let the whole world know of your fortune. This would not be a good idea, though, at least until you take care of some things first.

The moment you find out you have won, fill out the lottery ticket if you haven’t done so yet. Then, find a secure place and keep your ticket there. Remember, all this time keep your mouth shut. The next step would be to engage the services of a financial consultant. If you have won big bucks, you would need advice on how to deal with it, taxes and all. Make sure that the lawyer or financial adviser is someone you can trust.

Once you have sorted out your options with your adviser, only then should you get in touch with the Lottery Board and claim your winnings. Only when you have a sound financial plan should you let other people know about your fortune. That way, your money will be safe from impulsive decisions that could cost you your fortune.

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