10 things to do when you win the lottery
Anyone seeking a planner needs to be coupon for free breadsticks at pizza hut armed with the correct questions to ensure that the professional chosen is working in your interest and capable of addressing all your specific financial needs.
Lucky you if youre a resident of the handful of states where residents pay no state tax on lottery prizes.
This post was updated on July 31, 2016.Millennials' top 10 money mistakes, take these simple steps to stretch your savings.Sign your winning ticket and then.» Planning for retirement: How to get started at any age Dayana Yochim is a staff writer at NerdWallet, a personal finance website: Email.Dont carry high-interest debt; if you have debt, roll it over to a lower-rate credit card until you pay it off.Heres how we make money.All of these self-inflicted financial injuries are avoidable if, after treating yourself and your loved ones a reasonably priced treat, you.While each of these suddenly affordable opportunities would tempt a newly minted mega-millionaire, none would be the best initial course of action.Easy money can do that to people.Be aware that the cost of hiring best champagne to give as gifts the lawyers and minions to claim your lottery winnings and cover all your bases can easily hit six figures.
You can (and, honestly, probably should) hire a team of financial pros to walk you through all of the details of getting your affairs in order before you hold up your hand and shout, I won!
Review your prenup (if you plan to buy a trophy husband or wife) and beneficiary information.5 on our list for a reminder why this is a good idea.) The rules of successful money management are the same whether you become an overnight multi-millionaire or build your first million the old-fashioned way : Live below your means.Rather than being prudent, many of the suddenly super-rich feel obligated to make that big purchase or, for some reason, agree to provide financial support for a third cousin of their step-brother-in-law.Before planning all the ways youre going to blow your millions, spend a moment on m to see how state tax rates will affect your new status as a member of the elite.Invest for the future (and dont overpay for the privilege when there are plenty of low-cost options).Actually, we do know.There's no secret to winning the lottery the only surefire way to get yourself a winning ticket is to be incredibly lucky.