.12 Things A Lottery Winner Should Never Do
12 Things A Lottery Winner Should Never Do
From the Dinar Recaps Archives originally posted on 7/4/2019
Powerball & Mega Millions Lottery Above $650 Million:
12 Things the Winner Should Never Do
By Douglas A. McIntyre July 3, 2016 9:30 am EDT
This advice is worthy for any sudden wealth situation
It looks like lottery history is in the making for this holiday weekend. Neither the Powerball nor Mega Millions lotteries have produced a winner for the hundreds of millions of dollars up for grabs from June into July. With Mega Millions now rolling up to $415 million and with the Powerball now at $243 million, this now puts the weekend of July 1, 2016 as having a whopping $658 million combined.
The Mega Millions drawing is set for Friday, July 1 and the Powerball drawing is set for Saturday, July 2. There already could be a winner
It seems that the new American Dream is winning the lottery. After all, you can become filthy rich in an instant. Winning the lottery also has to sound much more exciting than a life of hard work followed by a lifetime of savings and being responsible. Besides that, the media and the politicians keep telling you how hard it is to get ahead and to succeed in life these days.
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The odds should have generated a major winner in each of these lotteries by now. What is amazing is that the $658 million combined would not represent a record lottery even if it was combined. If no winners come this weekend, then they will likely roll up to around $700 million.
Lottery players must know that the cash option is lower. The annuity value of $415 million for the Mega Millions would be $286.4 million for the cash option, while the Powerball annuity value of $243 million would be just over $165.9 million for the cash value. Whether lottery winners take the annuity or the cash option, either lottery should be generating multi-generational wealth.
What lottery winners have to understand is that sudden extreme wealth brings the need for sudden extreme responsibility.
This is why 24/7 Wall St. has created the 12 Things Not to Do If You Win the Lottery.
Can you imagine winning a sum of over $100 million, $200 million, or $300 million? Even after you back out the cash discounts and the taxes, this is empire-building money.
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