Lottery money! How to dispurse it?

[flywise]

I'd be thrilled if someone gave me 150k....please

[Black Ice]

If I were to play, and somehow win, the last thing I would do is go on a spending frenzy. That's asking for a bad road to arise in the travels for your family. I can't imagine too many of the hardcore lottery players will be able to handle that amount of money overnight.



Anyways, hire an attorney, form an LLC, take plenty of time before you make a single purchase or investment. The only immediate things that I would do is pay my tithe (I know, some folks think it's insane, but that's okay...they have the right to be wrong haha) and pay off all debt. After that, it would be a slow process to set up college funds for the kids, and make investments on the advice of men who I trust that have done well for themselves in business. And I would be the old codger at the coffee shop, who no one would believe had any money drive an old truck to town, overalls and work boots, wear a but up old straw hat year round with a sweat stain, maybe chewing on hay straw. Make myself look like the country bumpkin that I am to help ward off the leaches

I would bet every penny I own that you wouldn’t do what you said. The old codgers at those coffee shops probably worked very hard for every penny they ever made and don’t won’t to lose it. You give that old man who is worth 5 million at the coffee shop 600 million and you would never see him again.


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[FIREMAN]

I would suspect it would be a bank-to-bank transfer and not a paper check---

This is what I was trying to ask! I guess the money could be drawn out of the lottery and placed in banks , trust funds and such. all good answers and a Good Lawyer and accountant would be a must!

[TxDispatcher]

I would bet every penny I own that you wouldn’t do what you said. The old codgers at those coffee shops probably worked very hard for every penny they ever made and don’t won’t to lose it. You give that old man who is worth 5 million at the coffee shop 600 million and you would never see him again.


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Bet it...cause since I've never played the lottery, you have nothing to lose haha

[tps7742]

Trust fund for the kids and extended family. Only get so much per year.

X2 on the trust fund route.

Have you ever thought what you would do with the winning ticket to protect it? Transport it?

[kkp005]

I would be an absolute nervous wreck until I got the ticket turned in. I can’t imagine the paranoia of worrying about something happening to the ticket

[whitetailfanatic]

I would share with me and the wifes family, then share with my friends,trust funds,etc..
pay off all my debts..buy a piece of land somewhere build a nice 4 bedroom 4 bath log style home on it
maybe take a trip or 3, and then actually finally be at ease with your life, IF POSSIBLE.

Imagine not owing money to anyone!WOW

[TexasLongball]

I wouldn't even claim it until I had a plan that included legal and accounting people

I imagine you can deposit the check, funds availability would depend on strength/size of bank

This is the best answer. I wouldn't even take ownership of the money until I knew exactly the best course of action for it.

[WCB]

Hookers and blow

I'm old so I ain't got much time to enjoy it...

Seriously though, I'd get an attorney and a financial guru to help set up tax shelters/trust and such. Then go get my money and hide for a while. The wolves will be a lookin for ya pretty quick...

[eaglegolfj]

With that much I would help Trump build a WALL.

[tps7742]

I would be an absolute nervous wreck until I got the ticket turned in. I can’t imagine the paranoia of worrying about something happening to the ticket

We had an older couple down the road a couple of miles from me win a significant amount in a quick pick. I was told from a good source they were at the bank when it opened to deposit it in a safe deposit box for safe keeping. When in transit they have a fireproof safe while transporting it for a just in case something occurred, etc etc.

[67olds442]

Rims, women, and blow...it goes fast

Right on

[stickbowcoop]

I've never even won a free ticket on a scratcher, so I don't have to worry. I will never win .

[Tx_Wader]

I already have my island picked out in the Caribbean so I'm good to go. Ya'll are all invited to come stay and fish.

https://www.7thheavenproperties.com/real-estate/bahamas/20-acre-private-island-sale-near-guana-cay-abaco-islands-bahamas/

Might high fence it

[bobby314]

Rims, women, and blow...it goes fast

Awesome