These Are The Things You Should Not Do When You Win a Lottery

10/03/2017

how to win a lottery

Lottery winners seem to lose their sanity after they win such a humongous sum of money which is very natural. However, it is better to take a few precautions that you should take if you have won a lottery ticket. Here they are:

  1. You should not forget to sign a ticket or even report it to the state. This will prevent you from getting into any major trouble even if you lose the lottery ticket. Imagine what would happen if your lottery ticket gets stolen by accident and that person turns up to claim your prize money. This error is one of the most common ones that lottery winners make so you have to be extra careful. Lottery tickets are actually the last forms of bearer bonds that any person could collect on if they turn up with the coupons along with the bonds.
  2. You should prevent yourself from sharing the news with everyone you know. It is very natural for you to be tempted to brag about this to everybody you know but sharing it with everybody even before you have collected the money can land you in much trouble. Anyone and everyone whom you know, who had extended any kind of favors to you in the past will come to you asking for help. Just to warn you, there was a lottery winner, who, recently, became a victim of murder. Also, there have been incidents of ransoms being demanded or kidnappings. So, it would be best if you try to stay anonymous for as long as it is possible to remain so. Eventually, people will come to know about the wealth that you have newly acquired. So there is no need to hurry about it and let people know unnecessarily.
  3. You should refrain from taking the up-front cash. It is the case for about 70% lottery winners who end up being broke again and many of them within a span of 2 years. If you get an amount of $172 million up front, it will be better than having to get a payout of, for example, $300 million gradually through the span of their entire lifetime. It is, after all, an empire of making instant money.
  4. Do not live under the impression that you are smart enough to manage your money as well as your finances. You should have a solid as well as a respectable team which will act as a buffer between your assets and the surrounding perils. So they will help you to protect your assets against all threats in case there are situations like you die or even become incapacitated.
  5. Do not allow your debts to stay in place. Irrespective of the fact that you take the annuity option or that of the lump-sum, even if you have a debt of a single penny, then in the near or distant future, things might go wrong.

So keep these pointers in mind if you become a lottery winner!

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