Wednesday, December 18, 2013

What the $636 Million Lottery Winners Should Do (and Not Do)

The Mega Millions lottery reached a second-best level ever of $636 million for the December 17, 2013 drawing. It now appears that there are two winning tickets. One was reported to be sold in San Jose, Calif., and one was sold in Georgia.

This Mega Millions lottery had seen more than 20 drawings with no jackpot winner. The prior record for the Mega Millions was $656 million, in March of 2012, and was split among three winners in Illinois, Kansas and Maryland.

The real question is simple, yet complicated: What should the lotto winners do right now? 24/7 Wall St. has created a simple plan of what lotto winners should do (and not do) if they win empire-making money of this magnitude.

Few people will ever win a lottery of any size in their lives. The good news about our lotto winning plan is that it pertains to anyone who suddenly comes into money. This includes those who win big judgments, who unexpectedly inherit large sums of money, who have an unexpected cash surge, athletes who get huge initial signing bonuses or endorsements, and others who get wealth quickly. Our instant wealth tools work almost universally.

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How ironic is it that winning the lotto also comes with some serious pitfalls? We will have to see what happens down the road for these two who appear to have won $318 million or so.

Many lottery winners have ended up bankrupt in just a few short years after becoming vastly wealthy. We do not want that to happen to you. Many athletes and wealthy entertainers also went belly up. This is just not necessary and can easily be avoided if handled properly from the start.

The 24/7 Wall St. 12-step program for lotto winners is intended to be the first-step to protecting yourself and your newly won empire. We have evaluated what to do and not to do for tax purposes and financial and personal security, as well as what not go splurge on, and many other things.

Lottery winnings have made many millionaires. Again, they have also created many stories of an instant rise and a rapid fall. There is even one that may have ended in a murder. If you are lucky enough to have won this lottery, or any lottery in the past (or future), please do not become one of the bad statistics.

MegeMill 636Source: PA Lottery Mega Million

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