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A group of workers in NJ won 212 million today in the lotto...after tax roughly 130 million. Here is my question, if you'd won this amount of money, which company would be your financial advisor, and how would you spend or invest this money? Just curious.
None, I don't trust any of them. I wouldn't spend any of it just add it for a rainy day. Bury it.
I personally know many of the --" Holdingford lunch ladies"-- who became famous for winning the lottery.
Although they only recieved a little over 2 Million $$$$$$$ each, it was nice to see how the money didn't change them and they made wise,frugal decisions.
They were great people before they won the money, they are still great people.
I watched a tv show that followed the lives of people that won lotteries.
It seemed many who turned out disasters followed the same routine-----------
------spend,spend,spend on luxuries for the first year.
------go into depression the second year
------drugs,alcohol, and bizarre behavior follow
Sad to see !
It was "The Curse of the Lottery" I believe on TLC. Our good friends were contacted by them to be one of the "good stories" on it. The ones they highlighted that lost it all were the ones that went bizerk after winning and they were throwing the money around and handing it out to anyone that asked for some. When our friends won they got letters and packages from people all over asking for money. One person asked for them to pay off all of their bills and then they could invest their income instead of paying bills . I told her that she could do that for me too (she knew I was kidding ). I said, "well, you could do that for all of us and we could all do the same". DUH! I mean they got requests from complete strangers. It was nuts. Then there were the people that knew them and knew we were good friends. Ran into one at the store and she asked if I had talked to them, yes I have. The FIRST question out of her mouth next was, "did she get a new car?". I looked at her kind of lost and said, "why? She just got a new car last year?". LOL!!! I had another mutual friend say that if they won they would pay off all of their friends bills. Hmm, really Where do you draw the line on how good of friend would you do this for and those you don't? To me it doesn't matter if they have millions of dollars or not. My friends are my friends. I don't want my friends to feel like they have to "buy me" and I don't want to feel like I have to "buy my friends".
When our friends won they got letters and packages from people all over asking for money.
For this exact reason, among others, I could never understand why lotto winners would choose to make a public display of collecting their "check". I know that you'd get bombarded with requests even if you became an instant recluse, but not quite as badly. The last place a lotto winner should be is in front of a camera.
For this exact reason, among others, I could never understand why lotto winners would choose to make a public display of collecting their "check". I know that you'd get bombarded with requests even if you became an instant recluse, but not quite as badly. The last place a lotto winner should be is in front of a camera.
Especially when you can afford professional thugs to keep cameras far away from you.
For this exact reason, among others, I could never understand why lotto winners would choose to make a public display of collecting their "check". I know that you'd get bombarded with requests even if you became an instant recluse, but not quite as badly. The last place a lotto winner should be is in front of a camera.
They didn't do a press conference AT ALL!!! Camera people from local news stations camped outside their house and even looked over the fence when they heard the kids out. They went out of town for a little while. They tried to claim it SOLELY in the trust they set up but by buying the tickets you are contracted for them to be able to use your name. This is why I always say to buy our tickets in ANOTHER CITY (or close suburb to us). That way when the officials release the news that there IS a winning ticket that was sold in "X" it won't be the city WE live IN. I also said we would take our time claiming it. It would be a good 4-6 months before I even CONTACTED the lottery officials. Hopefully by then the excitement will have worn off that the winner was someone locally. In the interim I'd be changing my phone numbers and getting them unlisted. Removing my name off of the tax rolls (by putting the property in the name of a trust or joint venture).
[SIZE=2]How do you collect lottery winnings in order to maintain your anonymity? Do you setup a living trust or LLC? [/SIZE][SIZE=2]Why is it more beneficial to collect a lottery jackpot as a LLC rather then a Trust?[/SIZE]
How do you collect lottery winnings in order to maintain your anonymity?
Lotteries are operated by the state, and many do not allow anonymous claims (on substantial winnings) . . keeps the transactions open to public scrutiny to prevent lottery employee nepotism fraud.
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. I told her that she could do that for me too 
(she knew I was kidding 
Where do you draw the line on how good of friend would you do this for and those you don't? To me it doesn't matter if they have millions of dollars or not. My friends are my friends. I don't want my friends to feel like they have to "buy me" and I don't want to feel like I have to "buy my friends".
