In the US, the biggest jackpot ever won was back in 2016, to the tune of $1.586 billion from the Powerball! This is an amount that most people can only dream to win.
But what if Lady Luck was on your side? What if you win an amount that changes your life?
If you win the lottery, here’s what you need to do!
Secure Your Ticket
First of all, you’ll want to double-check that you’ve indeed won. It might be embarrassing when you try to redeem a ticket without the winning numbers, so check here for more info.
Then, you’ll want to secure your ticket. Put it in a safe place (such as a home lockbox) and also take pictures so you have digital copies.
Give It Time Before You Claim the Jackpot
You might be in a hurry to claim your prize as soon as you realize you have the winning numbers, but we highly recommend giving it some time before you do so.
First of all, you might be so excited that you make mistakes while claiming your prize. Also, you need some time to take the proper steps to protect that prize.
Considering that there’s a lengthy period where you can claim your jackpot, you should take as much time as needed to get things in order.
Set up a Professional Team to Help You
You’re about to come into a lot of money, but that’s not an entirely positive thing. There will be new financial consequences, so you need to be ready for them.
You’ll need a team comprised of a lawyer, financial advisor, and accountant. They’ll be able to inform and advise you on how to move forward.
Be Discreet About Your Winnings
We know you probably want to tell everyone you know that you’ve just won a handsome sum. But the fact is, people will come out of the woodworks to harass you for a share. So you’ll need to be discreet about who you tell.
Also, unfortunately, for some lotteries, you’ll have to give your name and interviews, so you won’t be able to remain anonymous. We recommend you change your phone number and get a P.O. box.
Decide Between Lump Sum vs Annuities
There are 2 ways you can receive your winnings: a lump sum or annuities, which are annual payments of a certain amount of time. There are pros and cons with each option, so discuss it with your financial advisor.
Don’t Make Rash Decisions
The amount you get from your lottery winnings might seem like a huge chunk of cash. This is why people quit their jobs, go on expensive shopping sprees, buy pricey cars, etc.
But this kind of spending is exactly what’ll land you in hot water. You need to be smart when winning the lottery and make it grow for your future!
Good Luck and Win the Lottery
Should you be so lucky to win the lottery, now you know exactly what to do. You won’t have to worry about making a mistake that’ll cost you your grand prize, just because you’re so excited to win.
While the odds of winning are low, there’s still a chance you might win your favorite lottery. So good luck and make sure you secure that money!
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