The 10 Things You Have To Do After You Win The Powerball (Or Lose It All)

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Жыл бұрын

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Пікірлер: 3 300

@Bev23 8 ай бұрын

I won a jackpot and never followed any of these suggested rules. I had a plan of what I wanted to with my money if I won, and that is what I followed. I took my lump sum and invested in five properties, and enlarged my existing business. I created 11 new sustainable jobs and carried on working.

@everydayvacaytaj 8 ай бұрын

I'm planning to do something like that. I have a lot of cool business ideas and will pay my employees $50-100/hour and do a lot of things to help people create the lives they want and follow their passions

@CandidLy1 7 ай бұрын

I love that, thank you for doing the smart thing and benefiting others as well.

@amyx231 7 ай бұрын

Existing business. And that is why. Because you already had financial intelligence.

@roc-8059 7 ай бұрын

Simple

@welo0905 7 ай бұрын

I disagree with a lot of these steps....the very first thing you should do besides take a picture of the ticket and place it in a safe and protected place, is to create a trust and have the trust accept the winnings which will keep your name out of the newspapers and news and provide some level of protection of your identity.

@karenthompson1539 9 ай бұрын

Not all thieves use knives and guns to rob you. Some wear suits and ties.....

@akeemMali 7 ай бұрын

Definitely, agreed 👍

@EmeraldView 7 ай бұрын

They're called lawyers

@darkgalaxy5548 7 ай бұрын

"A man with a briefcase can steal more than a man with a gun" - Vito Corleone

@lanaofficiel4042 7 ай бұрын

I hate lawyers.@@EmeraldView

@GeorgeMinton-jb8ky 7 ай бұрын

been there had that happen to me. There are more in suits and ties and they steal larger amounts of money.

@BradTi-mothy 2 ай бұрын

Thanks for sharing FET and AMS89H. 💯

@gsgamer6900 2 ай бұрын

AMS89H is still extremely undervalued

@aktarrahaman3070 2 ай бұрын

Coinbase, OKX and Binance will list AMS89H very soon. We do not have much time left

@NIRJON_BHAI 2 ай бұрын

undervalued project

@khagendramajhi 2 ай бұрын

I've heard lots of people from X and Facebook talking about this one

@user-xk5oy6pi1j 2 ай бұрын

thanks for sharing, I just bought it

@markindy862 Ай бұрын

I won substantial amount 6 years ago. I did most of theses steps. * organized team, tax attorney to start. * lump sum * won in October, claimed Jan of next year. This delayed paying taxes longer. Held principle longer, earned more. * kept investments lean and conservative. Worked out to about 7% annually. * once established. Over a year later, worked on blind trusts and other products related to giving money away. This was by far the most time consuming. It is a big job to give money away correctly. * fortunately I live in state with no state income tax. 6 years later, the principal has grown substantially and the “the. Machine” as I call it hums along nicely. I have made over 20 friends and family millionaires in the last 6 years as well. All with the gains. Much needed to be learned. Be smart, be patient, be humble. Admit that you don’t know how to manage huge wealth. Most people do not.

@Madvizion 24 күн бұрын

That's my biggest fear and I acknowledge the fact I don't know how to manage a large some of money. I don't want to go on a spending spree instead create generational wealth. Thank you for your wisdom.

@sCa8644 21 күн бұрын

😊

@angelikapaul2998 6 күн бұрын

Congrats on the winnings, but even more so, on your success in your continued wealth!

@biggalaxy9102 Күн бұрын

@Madvizion Stop worrying about "generational wealth." Just take care of your children & that's it. That's your only responsibility. If your children have children then that's their responsibility & not yours. Not to say you don't set them up nicely but it's not your responsibility. Teach your children to be responsible for their own & be smart. Just a little word to the wise. Too many people talk about "generational wealth" when most of the time, the generations after your children are out of your control. Please really contemplate what I shared. It makes a lot of sense.

@Lelii321 22 сағат бұрын

did your “team” come from the same firm or did you go to a bank ? different firms for different things? accountant from one place lawyer from another? what did your team look like? where did you start?

@xaivang9106 6 ай бұрын

Step # 0: Win first.

@Thommadura 5 ай бұрын

Win BIG - I could not even open a Bank Account for the $10 I won - they wanted at least $50 at the bank

@edmor1086 5 ай бұрын

I didn't think of that step.😅

@EJ257IHI 4 ай бұрын

Somehow it seems the people who win these things don't have a clue on what to do.

@MrRepsMrReps 4 ай бұрын

Yes, win first and don't take Financial Advice from a Lawyer.

@latenightsnack5382 4 ай бұрын

safety deposit box do not cover if someone steals the ticket only covered $250,000

@ext1013 6 ай бұрын

I think #1 should be: Do not get excited, do not get it into your head, clear your mind. thanks

@christinaburney5935 3 ай бұрын

Before you turn in your ticket, you should delete all social media.

@nannz.7266 7 күн бұрын

Just stop using it, or responding. And Turn off live location. no need to delete it. 😂 😂

@diamondis4ever 4 ай бұрын

As a former bank employee, DO NOT PUT YOUR TICKET IN A SAFE DEPOSIT BOX. If there is 2 keys to the box, then please believe there's at least another key.

@marshallmcdonald7309 4 ай бұрын

You put the ticket in the sdb temporarily until you surrender it to get your prize. It's not to put your winnings in.

@gordybishop2375 4 ай бұрын

They said ticket@@marshallmcdonald7309

@alienapks 4 ай бұрын

𝙰𝚗𝚍 𝚝𝚑𝚎 4𝚝𝚑 𝚔𝚎𝚢

@Demy1970 4 ай бұрын

If you don’t hold it you don’t own it, I would tell my brother after I photocopied ticket

@Black-Magic_ 4 ай бұрын

😂😂😂😂

@vickyfullard4076 7 ай бұрын

1. Do Not Tell Anyone 2. Take a Picture of Ticket Front &Back 3. Rent a save deposit box 4. Journal every thing up to the moment of buying ticket. 5. Buy Burner Phone 6. Rent An Airb&b or hotel Room under Allis 7. Tell your Most closest Family your burner number 8. Call Your Lawyer 9. Tax Advisor 10. Make Your Claim

@stevebobamerican8635 7 ай бұрын

Really & sincerely appreciate you saving me 35 minutes of viewing this vid👍

@vickyfullard4076 7 ай бұрын

@@stevebobamerican8635 you are welcome

@briandrake6881 7 ай бұрын

Alias: Ted Nugent or Fletch if available.

@One-esa 7 ай бұрын

@@briandrake6881😂

@foxyroxstar 7 ай бұрын

Yeah PRINT! Suppose I Woke Up In A Brand New Life The One WOMAN On Earth The Other Half In Person JESUS!...hmm..What The Immediate RAPE Of Our Face?

@dystopian.. 3 ай бұрын

1. Change name. 2. Leave country. 3. Bliss.

@texaswild3346 2 ай бұрын

*and buy citizenship of two or three island countries with changed name and come back to USA as a tourist*

@user-ys2wj2mi8c 2 ай бұрын

First I'm moving to Monaco and I'm looking for a good financial advisor there.😂😂

@Lilione111 Ай бұрын

You need to move before you win the lottery! Most other countries don’t pay tax on winnings!! And for example, the country I live in…in all states you get the choose to remain anonymous & nearly every other country allows you to do the same.

@KlaudiaShaefferr Ай бұрын

@@user-ys2wj2mi8c you’d need the financial advisor before you move there

@pinkgirlgaminghappypink697 Ай бұрын

😂

@MrHonkrock 4 ай бұрын

Step one don’t tell anybody step two consult a blind trust on claiming your winnings. Step three. Take your time and don’t make any decisions that you are not comfortable with.

@tdadp 3 ай бұрын

I know someone who has hit the lotto and still has a lot of money because they had the right people give them the right financial advice.

@jacksquat4140 6 ай бұрын

How do you protect yourself against crooked lawyers and financial advisors? We live in a day and age when it's easier to win a lottery than to find an honest/honorable lawyer.

@garyshan7239 6 ай бұрын

simply you have another set who audit what they are doing or you could do like a hedge fund where several teams handle a portion of the money.

@jacksquat4140 6 ай бұрын

@@garyshan7239 : Many of these "professionals" walk in the same circles and belong to the same club.

@bermudarailway 6 ай бұрын

The problem is that 98 % of lawyers give the other 2% a bad name.

@jacksquat4140 6 ай бұрын

@@bermudarailway: Perhaps 2% is being overly generous.

@robertromero8094 6 ай бұрын

Be someone. If the lawyers friend is your friend he will go hard for you. Show up with a lottery ticket and he sees dollar signs. How about manage your own money?. Invest

@julianvelez5959 7 ай бұрын

I wouldn’t tell anybody for a few months until i made my claim and had everything figured out, then i would just say that I’m doing great on some investments that i made. and that’s how i would start enjoying my money. Without even saying that i won the lotto

@Rusty_coit 5 ай бұрын

I’ve always thought this would be the smartest way. People have totally different perceptions of those who (they think) earnt their money. Over those who won it. It also takes away people thinking to ask you for some if they think you made that money

@TashaWashington 5 ай бұрын

This is a great idea!

@user-xc1cw9yk3w 5 ай бұрын

But if you in a state where you have to announce it, there’s pretty not much you can do about keeping it a secret!

@michaelryan3818 5 ай бұрын

That's what I would do. Maybe a couple hundred k the first year. "Reinvest" and slowly start using more. Meanwhile, what you aren't using is just stacking up for later.

@thispersonrighthere9024 5 ай бұрын

i'm claiming my money ss soon as possible. i'd be too worried that i might lose the ticket.

@humbledriver2536 2 ай бұрын

How short sighted it seems to me when you take a photograph of the ticket you should do it front and back but also do a selfie where you have your face with a ticket in the same view

@Inspired2Enspire 4 ай бұрын

Oh my goodness I would never tell my mom either! That would be equivalent to telling TMZ! 🤦🏾‍♀️Everyone in the world would know in 2 point 5 minutes!

@cookingwbarbaragotfaith524 4 ай бұрын

😂😂😂😂😂😂

@lindaschipansky4429 4 ай бұрын

oh to funny. Probaly alot of us think that way

@estrellitausa4368 4 ай бұрын

faster than the internet 😂 my intermama for sure

@lindaleelaw5277 4 ай бұрын

Be sure to make final arrangements cause she gonna kill ew! Lol Old joke : There are 3 ways to get a message out - tele a phone, telegraph, tell a woman! Lol

@lindaleelaw5277 4 ай бұрын

Moms: tapping toes... thinking " now I can take that cruise lol "

@On2wls 7 ай бұрын

Get 2 burner phones. One to notify the family and one JUST for the lawyer. Your family will eventually give that number to someone you DON'T want to be annoyed by.

@fitybux4664 6 ай бұрын

Or just don't tell your family ever. Ew.

@valeriewalkerwhite9525 6 ай бұрын

I’m not telling family shit…you have to be Kidding

@christinedavis5813 6 ай бұрын

No way I am telling Family either ,I once told my sister I had managed to save £30,000 and she said straight away could she lend some, so no way am I telling anyone and defiantly not my family @@valeriewalkerwhite9525

@Jbe139 4 ай бұрын

I was thinking along the same lines of multiple burner phones. Then when my phone number is given out I can isolate who did it.

@nobodygrinder5667 Ай бұрын

My family already kicked my ass to the curb, so I will be fine with the lottery I win.. I'm just lucky I can move about with less problems..

@TheMatrixxandRhodesShow 9 ай бұрын

I disagree with 7. Don't tell family outside of your spouse if you're married. Don't tell your girlfriend or boyfriend.

@TashaWashington 7 ай бұрын

Just curious. What not tell your boyfriend/girlfriend - especially if they are long-term?

@kelleemerson9510 7 ай бұрын

Agree. Your spouse automatically will get half, but if things are contentious in any way, protect yourself.

@livethatlife1830 7 ай бұрын

@TashaWashington A boyfriend or girlfriend isn't on the same level of being married. You don't know if they will try and set you up. And if the relationship was serious they would marry you. Also I would get a prenuptial.

@CaptnJack 7 ай бұрын

money changes people. Be careful of who you tell, even someone you thought/think you know/knew well.

@GeorgeMinton-jb8ky 7 ай бұрын

I disagree. Don't tell your spouse until all your I's are dotted and your T's are crossed. I heard a story about a women winning the lottery. She immediately told her husband she wanted a divorce and she didn't tell him she won. She was going to keep all of it. If she knows you won and she was ready to leave you then once the money is in hand she will be off to the races. I thought it was funny but it could be true.

@MrPTR91 4 ай бұрын

You could also set up a Trust and claim the money anonymously. You can do that in a lot of states.

@Thorrnn 4 ай бұрын

Not in commiefornia, apparently

@karinpeagam7742 4 ай бұрын

We are so fortunate here in Australia. We can buy our lottery tickets on an app. The gov.t cobtrols the lottery and offers free financial advice to all winners and van not disclose your information without written permission

@angelorozco4364 3 ай бұрын

What do you think sets AMS89K apart from other projects? It seems to be dominating discussions lately

@gowithgid3274 7 ай бұрын

Why hide before you've even claimed the prize? #1 Find a financial lawyer. You can set up an LLC in Delaware and have it claim the prize. If you claim the prize through an LLC registered in Delaware the state does not require the release of information as to owns the LLC, so that protects you from being exposed as the winner. #2 Don't start immediately spending tons of money that people think you don't have. #3 don't even tell your relatives you won. If they didn't like you before you want they were like you after, they will pretend they do.

@susid5460 6 ай бұрын

If you didn’t associate with me before I was rich, I won’t know you after I am rich.

@susid5460 6 ай бұрын

You claim your winnings on your taxes in the year you receive the money. I speak from experience.

@sweetdreams4321 6 ай бұрын

Exactly

@lyndaehrich5809 6 ай бұрын

I like that. I actually do have an LLC.

@valeriewalkerwhite9525 6 ай бұрын

Great ideas..

@danetteclark4066 6 ай бұрын

After what happened in California a couple of years ago, where all of the safety deposit boxes were raided, I am not inclined to do that.

@Recovering_Californian 6 ай бұрын

That was a PRIVATE deposit facility. A FDIC insured actual BANK should be safe.

@JFEnterprize 6 ай бұрын

And cali forces you to collect with your real name and posts it. No buisness entity or llc name

@Ultramanishere1 4 ай бұрын

That business didn't require KYC and was suspected of money laundering for drug dealers and thieves. That's how the FBI got the warrant. Don't think they'd stand a chance of doing that too BofA..

@LakeGitcheGumee 4 ай бұрын

What?

@JFEnterprize 4 ай бұрын

@@LakeGitcheGumee a bank was found by the gov of doing supposed fraudulent stuff so EVERYONES boxes were taken. And folks didn’t get all their 💩 back as the feds stole it/didn’t properly report contents/ ect. 🫨😢 some guy lost thousands of his gold coins I believe in that mess had I think 47 got like 23. 😭😭😭

@paulmelbourne9463 5 ай бұрын

Set the money up in a trust so nobody else can touch it, and set yourself up with a monthly paycheque and relax.

@recrdholdr 5 ай бұрын

Another reason why I love living in Canada. Winnings are not taxable. :D

@rvngo2989 Жыл бұрын

Not talking to NOR telling ANYONE my new number ESPECIALLY family members.

@randallboone9375 6 ай бұрын

Yeah I don’t see a reason to tell close family members, at least not right away.

@alfredotto7525 6 ай бұрын

I will become a ghost. Leave the country for a while.

@deancrawford7154 4 ай бұрын

😅

@peterzotti6430 4 ай бұрын

If that's how you would treat your own family members if you win the lottery.... Then just do it now... If you don't love any of them then just stop talking to them now and ghost them now.... Why wait till you win the lottery....

@Allantitan 4 ай бұрын

@@randallboone9375sadly I can see some of my family (mostly those with young kids) who might ask for money. Idk if my own brother and his wife would be among them

@elizldn961 7 ай бұрын

In the UK, we can claim anonymously so we don’t have those issues of details being released publicly

@greenidguy9292 7 ай бұрын

You can do the same in the US, however it depends on the state you live in. Typically Liberal run states won’t allow you to claim anonymously.

@Davido50 7 ай бұрын

Yes, many US states tho definitely not all.. allow anonymity.

@blindleader42 6 ай бұрын

@@Davido50 "many" = 18

@UstedTubo187 6 ай бұрын

@@blindleader42It's more than a few.

@blindleader42 6 ай бұрын

@@UstedTubo187 🤦‍♂

@josephsf2452 5 ай бұрын

eight states don't charge income tax on lottery winnings: California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming.

@dboutier5636 4 ай бұрын

Texas - probably because Texas has no income tax for anybody or anything

@CS_STNDONTRTH 4 ай бұрын

federal y😂s, state n😢. In Washington

@insideoutsideupsidedown2218 3 ай бұрын

You have to claim the ticket in the state it was purchased. So the up front winnings the state that has a tax on winnings will get their part of the jackpot. However, moving to a state that doesn't have income tax would be a smart move for the money you would make on investments after that.

@almostontimehero5415 Ай бұрын

Cant you move your income to those states then transfer them to yourself?

@kimberlymcnair9205 4 ай бұрын

I’m in Michigan and when I win I’m CALLING YOU 🎉

@charlestine6786 4 ай бұрын

That's the whole point of his video.

@manichispanic5234 9 ай бұрын

I'm not telling anybody anything until I know what I'm doing with the money. How much I'm keeping, how much I'm spending, how much sharing. That is my plan, now give me money!!!

@simpleagain1 7 ай бұрын

DO NOT TELL ANYONE EVER‼️ REMAIN ANONYMOUS‼️ Everyone will treat you differently and you will be walking around with a target on your back for the rest of your life. The real danger and agita is not worth it. Help out as many people as possible anonymously and just be a secret Santa

@strawberryme08 2 ай бұрын

The lottery will tell people your name

@jackycane8238 7 ай бұрын

I know a person who won 5 millions in A scratch in Miami, the Florida Lottery was the one who provided the attorney and the safety advisor. Also the bank provided safety advice on the does and don’ts.

@aeromtb2468 5 ай бұрын

did it work out for them

@judyhernandez9636 5 ай бұрын

Yes that's the best thing you could do Let the lottery commissioner direct you to their own because it's cheaper They know what they're doing and half of the time you go and get these people that don't know what they doing they just out to get your money and eventually you'll your end up losing it all first of over here in Florida it's a little bit different..

@nickv4073 4 ай бұрын

Yeah, and Im sure the bank talked him into keeping the money in the bank earning next to nothing in CD interest and savings accounts.

@murrayterry834 4 ай бұрын

@@judyhernandez9636and have a whitey bulgar out there finding you.

@Wolff13 4 ай бұрын

My sister won 25M and after taxes, half was gone; she and her husband didn’t go crazy and they are doing well, enjoying life. No, I didn’t ask for any money and she didn’t offer me any. I’m cool with that.

@MusicMike747 2 ай бұрын

Best advice is to use multiple sources of information, including this one, to determine your first key steps if you win. Write it down in a journal to use as a roadmap for your emotional, overwhelmed future self to follow.

@dheekeol1269 Ай бұрын

In the event of my success and desire for longevity, I intend to maintain confidentiality regarding my triumph. Rationale: - Premature demise - Potential for extortion - Influx of undesirable acquaintances

@flatspin99 6 ай бұрын

They always ask for ID when renting a hotel room. At least the ones I stay in.

@gingernightmare9152 5 ай бұрын

And a credit card.

@WalterPidgeonsForge 5 ай бұрын

The way around this is to use a credit card to secure the room .. but use cash at checkout.. Under most hotel franchises the CC will not be retained.. Also.. you can have a relative pay for the room.. personally I would take my RV to a campground and pay cash there.. you can even use a postal Money Order at many of them.

@Alvan81 4 ай бұрын

Yes, but they don't care if the name/initials you use match exactly.. And if you don't tell anyone, no one is doing credit card traces on you..

@thetruequeen6747 2 ай бұрын

Of course, they do. I don’t know how u use an alias name.

@capturingsuccess1111 Ай бұрын

You can request for them to put the room under a different name like, the Jetsons, Liam Neison etc 😂😂😂

@marynjoroge9028 8 ай бұрын

The best thing is stay as if you have nothing for a month thinking of what you will start doing

@onealdawg 4 ай бұрын

Don’t even claim the money until you set up an LLC. Claim it under that and designate how the money will be paid out to the selected folks you want paid, on a yearly basis.

@thewolfdoctor761 4 ай бұрын

After you cash the ticket, hire a bodyguard.

@patriciozazzini3182 2 ай бұрын

is a digital transfer.nobody gets cash

@thewolfdoctor761 2 ай бұрын

@@patriciozazzini3182 Ha ha.

@thetruequeen6747 2 ай бұрын

How can u be sure the bodyguard is trustworthy and won’t let ur business be known ? It’s money and u can’t trust anyone to be honest.

@Autumn_Sunrise Ай бұрын

@@patriciozazzini3182That is true. But someone upset you won could still try to harm you, even if there’s no money in it for you. Even if they think you have a few grand on you.

@p.a.reysen3185 7 ай бұрын

On No.2, I suggest that you go buy the latest edition of your local DAILY paper and place the face of that ticket just under the date and headlines before that picture. The more docs you have immediatly after finding of your win will protect your butt or that could become a Trail of Tears.

@jolyonrussell7021 6 ай бұрын

Put your drivers licence and some other personal ID with the Photo, Passport, Birth certificate, gun licence etc, personal stuff. I nearly had an issue this year where a temp at the Lotto head office took my claim (ALL staff were away on some corporate junket/conference) and the next day when I rang Lotto they knew nothing about it …….. be secure.

@blackbandit1290 6 ай бұрын

The meta-data embedded in a modern digital photo should suffice - contains your name, date, time, camera details, lens attached and much other stuff if it's set-up correctly, including GPS location for modern phones and high-end cameras.

@jolyonrussell7021 6 ай бұрын

@@blackbandit1290 Thank you, you are 100% correct, I did not think of this. In my case 100’s of thousands was at stake and it nearly went very very bad so I have become extra cautious

@edwardnash7411 5 ай бұрын

I Don't know where you live but here we do not have a so called Daily paper that is paper most have gone to digital just saying

@TXNitroFord 5 ай бұрын

@@edwardnash7411 Still at most convenience stores. Here in DFW

@amariner5 6 ай бұрын

The most important advice you'll never need. But man, this is a fun thought game!

@denaliking6426 3 ай бұрын

You missed SIGN THE TICKET IN PERM INK and then take PICS

@dudeseriously57 4 ай бұрын

I've dreamed of winning the lottery most of my adult life, and the taxes have always been a mystery. This video does the BEST job of explaining that I've ever seen 👏🏾

@gregjackson-ks1gh 6 ай бұрын

I think the most important step is to be sure the lawyer you first connect with can be trusted. Especially if you won a billion. I would also hire personal security until I get the money securely in my bank account. I would keep the security until I was sure the coast was clear. A year or two.

@garyshan7239 6 ай бұрын

and you will next more than 1 lawyer-a personal one who is a generalist ideally in a large enough firm they have the specialists you need like a tax attorney otherwise you need a separate tax attorney

@dagordon1041 6 ай бұрын

Agree.

@greenemonkey41 6 ай бұрын

In New York when you go claim your money they tell u go get a lawyer which ironically there is a law firm across the street from the lottery 😂

@garyshan7239 6 ай бұрын

Simple you go retain the big name lawyer at one of those law firms that is always in the news which some fat cat gets into hot water-use them to screen the lawyer you actually want to retain-Im talking your tax attorney. After your trust is set up and the money is in hand you can decide if the first lawyer is the one to keep as your personal attorney.

@roberthussey595 6 ай бұрын

That’s one of the most important things - hiring trustworthy people. After all, the job description of a lawyer is “Hired Liar”

@jeremyleonbarlow Жыл бұрын

No you won't save on state tax by moving with an annuity because it is sourced taxed by the winning state just like real estate is taxed by a source state. You should know that Mark.

@Godsgift8553 2 ай бұрын

First thing first give God praise!

@SemiDad 5 ай бұрын

1. Sign the lotto ticket 2. Take the 30 year annuity 3. Give away all of the 1st payout 4. Pretend you lost it all 5. Live in peace for the next 29 years

@KlaudiaShaefferr Ай бұрын

Not gonna work

@Blkgoat Ай бұрын

Lol😂 yup I see what you did there

@jordonpumpin Ай бұрын

thats a good idea lol

@yayagazab4449 9 ай бұрын

Other specialists recommend not to quit your job right away. Work for at least 1 year until you sort everything out. Always try to leave on good terms if you do quit as a sign of respect, courtesy & plain decency. You never know what may happen & you just might need your old job back. Always keep your options open.

@jrviade85 8 ай бұрын

You will never need to work again even if you win just 1 million my son!!

@diontebyrd 8 ай бұрын

You sound stupid.who wins the Powerball and keeps working the same job..I gotta get low immediately I'm worried about getting kidnapped all types shit you can stay put if you want 😂

@sandraschultz3104 8 ай бұрын

Give them a weeks notice and work PT to hand off your work if want to be ethical? You can leave anytime. Just like they could fire you in a minute.

@pcvetic 8 ай бұрын

I doubt I'd quit my job with 1mill. Sure I could basically put it in a high interest account and do pretty well. I am pretty sure my state doesn't require you to disclose that you won.

@rochelle6744 8 ай бұрын

@@sandraschultz3104I know that's right! Lol

@eldnah2 6 ай бұрын

Amazing that CA doesn't tax lottery winnings, as much as they go after everything else

@ragtie6177 6 ай бұрын

They do. They do it in the form of interest tax, or, the money that your money starts making whether its by interest they pay to you on the earnings, or, by the interest on your winnings as income from any source, as being a resident of tgat state. And it's assessed monthly.

@vikingbase 5 ай бұрын

The Elite status

@TomSwoleski 4 ай бұрын

Oh they do tax you winnings I won 13k once and they gave me 8k and change, they consider it an income

@TomSwoleski 4 ай бұрын

You also have to file it on your next tax return

@ripn929707 3 ай бұрын

@@TomSwoleskiThey do not tax lottery winnings. Gambling winnings are different.

@patriot9455 3 ай бұрын

I knew a guy who won 1 million dollars, back when a million dollars was not a mere retirement account. He was in an RV across a state line somewhere private

@hitmixhyepock9405 3 ай бұрын

I wouldn't lose anything..... I'd get it in cash payout, seeing that I'm 50. Split the 600 million with my wife. Take my 300 million and start buying property in a couple of good states. But first I'm buying 3 vehicles. And then a local house that's got a bit of land. Then I go on some trips while my 297 million dollars makes money in the bank. I need to spend almost all if it by the time I die....I want like 3 million in the bank when I go. I don't have kids, my wife can leave money for her kids. I'll leave my properties and such to her kids and a couple of my friends if they are still alive by that time.

@Bizzy-Bumble1131 9 ай бұрын

Don't respond to anyone making small talk with you while you are purchasing your ticket. They will claim you promised them money and the camera will catch you chatting.

@unknownunknown504 7 ай бұрын

Wow!!! It's so funny you said that because I've had several people say something to me like: "If you win, we'll split the money". Although they were "joking," I would say, "No, we won't" and that would be the end of the conversation. Joking or not, I knew better not to indulge in such a conversation because I've always believed I would win the lottery one day and that'll be the first person who would try to sue me.

@fitybux4664 6 ай бұрын

@@unknownunknown504 A nice stern "No." is easier to recognize on camera if it has no audio. 😀

@unknownunknown504 6 ай бұрын

@@fitybux4664 I agree

@jmckeogh 5 ай бұрын

To claim a share of lottery winnings in New York you must have an agreement signed by both parties. To claim I promised to split it with you the lottery commission will ask for the signed agreement. No agreement, no split.

@sarahpark5692 21 күн бұрын

@@unknownunknown504😳👍

@RumbleFish69 7 ай бұрын

I thought the very first thing to do is to sign your ticket on the back signature panel. Also, I gotta say, I'm not sure how I feel about a safety deposit box. There is just something about me separating myself from the ticket that just doesn't sit well.

@GeorgeMinton-jb8ky 7 ай бұрын

Get a gun safe with a sophisticated locking system and screw it into the concrete. Remember the combination. Put it in the safe deposit box.

@33brtl 7 ай бұрын

I disagree. I think it's better to set up an anonymous trust and have the trust claim the winnings. If you sign the ticket personally your name becomes publicly available after you collect and you will be endlessly harassed. Anonymous trust protects your identity.

@RumbleFish69 7 ай бұрын

@33brtl Yes, but signing the ticket connects it to you. I assume, in perpetuity.

@karenwinston4084 7 ай бұрын

Right. If the ticket is signed, just go make the claim asap. The lottery doesn't care if you have a picture of it. They won't pay. You have to have the physical ticket. I definitely wouldn't tell anyone before I made the claim.

@unknownunknown504 7 ай бұрын

@@karenwinston4084 I agree, I thought the lottery office only pay after the actual ticket is provided.

@watchthe1369 5 ай бұрын

The annuity would be paying 60 million a year, approximately. 40 million would be split into four institutions and be bluechip funds paying out the earnings in each quarter. the remaining 20 would be split into my paycheck, and several capitol funds.

@MrEyethautunew 4 ай бұрын

Great advice. I was about to tell everyone I hit the Powerball for 105 mil But now I'm not telling anyone. Thank you

@333EarthAngelVisions 4 ай бұрын

Sarcasm, you gotta love it 😆😂

@mikekinsella2822 5 ай бұрын

1st thing you do is call your boss at work and sing him the "Moving on up" theme song from the Jeffersons tv show ha ha ha !!!

@user-xc1cw9yk3w 5 ай бұрын

😂😂😂

@floridadude8382 4 ай бұрын

🎶 To the beach side 🎶 my remix 🏖️😂

@ms.dekatur7082 4 ай бұрын

@@floridadude8382 NOT the beachside remix😅😅😅😅😅

@ms.dekatur7082 4 ай бұрын

I am not quitting right away...because I can get all my medical stuff done and take advantage of my other benefits. It is gonna take at least 3 months to get my shit together. I ain't telling NOBODY BUT MF GOD!!!!!

@mishonthompson8245 4 ай бұрын

No heck no nobody gets a percentage of my money 💰💰😂😂😂

@kronos5385 7 ай бұрын

I agree with almost everything except the rental of a safe deposit box. Since the bank has no idea what you put in your box they are not responsible for the contents of it. There have been a number of cases where fires or robberies in the vault cost those renters everything with no recourse.

@dbrennan1523 7 ай бұрын

I think your house is more likely to be robbed or burn down than a bank... And in this scenario there would be no recourse either because your homeowners insurance isn't going to cover those hundreds of millions. Also I think he was saying a safe deposit account because he was saying to leave your home for a little bit till things die down, and live in a hotel or Air B&B, which you wouldn't want to go back to your house to get the ticket where the media could be hanging out front.

@fitybux4664 6 ай бұрын

If you die immediately after putting the winning lottery ticket into a safety deposit box, your heirs get it. If you had the ticket hidden somewhere in you house and you die, it will never be claimed. It's like hitting save on a game. Generally, safety deposit boxes are safe. (But yes, if it's for long term storage of things that are very valuable, you'll want to buy insurance on those things, maybe. The bank is not responsible.)

@notmyname3883 6 ай бұрын

Yeah, but those robbers were FEDS. And if the FEDS are breaking into bank vaults and stealing from safe-deposit boxes, then what's safe?

@douglasgallup1494 4 ай бұрын

Great content! First time viewer and subscriber!👌 D Gallup, Michigan!

@marksamuelson2378 4 ай бұрын

Some of this is good but I would only tell my son. Then meet with an attorney and tax advisor, create a trust, create a holding company under the trust with various llcs under the holding company. All real-estate goes into the llscs. Then select a financial advisor that is a fiduciary. Collect the money into a money market. Schedule your meetings to define how to invest.

@beauknowz 6 ай бұрын

The most important question he did not answer: do you sign the ticket in your name before you claim the ticket? Or wait till you form a living trust or an LLC or both? Very important questions that should have been answered. Otherwise these steps are spot on!!!!

@garyshan7239 6 ай бұрын

wait-if you sign in your name that is the winner on record-if your state mandate you reveal your ID then you can sign it

@philip48230 6 ай бұрын

Just came across your KZfaq pod cast … your 10 points are just pure common sense, that I’ve been recommending to my tax clients for 15 years. The 10 points is intended for situational awareness & start thinking about some sort of plan ( most of my customers have incomes ranging from $12,000 to $50,000 yearly … folks who have no clue how the rich got and keep their money ). 2 points I disagree with are a) Do not say anything until you have a plan in place with lawyer & finance planners. b) Do not say anything until 30-60 days after the lottery so some of the immediate excitement of the winning cools off in the media

@Hof79905 4 ай бұрын

The first thing you do is “SIGN THE TICKET”

@redciroc1211 3 ай бұрын

Right

@angelocalzzadilla.4230 3 ай бұрын

Do not sign the ticket with your name but with the name of an LLC, INC or any other company or agency of your foundation. In other words a trust.

@MoonBeamer2023 2 ай бұрын

You do this when you first buy it lol

@hillaryclinton1314 Ай бұрын

Wrong. The trust answer is the correct one.

@straycat1674 10 ай бұрын

Here’s my thing with these suggestions. This assume somebody has the financial ability to buy a burner phone, to rent a hotel room or An Airbnb. Some people who come in the large amount of money have hardly a dime to spare. I’d love to hear about people like that what they should do. People that are on their last dime and if they don’t win they gotta wait days or weeks before they eat anything but Ramen noodle if at all.

@stacyb1341 9 ай бұрын

They can get a low interest, short term loan from a private bank that specializes in UHNWI. Or they'll be given a high limit credit card. Banks are more than happy to do so in order to establish a positive relationship with a newly minted multimillionaire. So the cost of a burner phone & hotel room aren't a big deal. Compared to tax pitfalls & sudden wealth syndrome, they're practically trivial.

@jkraze3 9 ай бұрын

I'll front you for a small fee bro

@pn9466 9 ай бұрын

Believe me when u contact a lawyer they will be happy to advance you money for a fee !!

@garyshan7239 9 ай бұрын

the poor winners just have to keep their mouth shut til they receive the money

@garyshan7239 9 ай бұрын

If you have a winning ticket and gotten a reputable set of advisor one of them would arrange a bridge loan or loan it from their firm simply to ensure you kept them retained. The cost of all this could be done for 10k or less. And you only need to move when you start telling people which shouldn't be done til the money is in the bank anyway.

@Boomhauer11x 5 ай бұрын

The one thing on my list that isn't mentioned is "what are the laws in your state in regards to remaining anonymous?" Some states you can remain anonymous and in others the law can be legally challenged.

@lupesandoval6495 4 ай бұрын

Thanks for your great advice

@killersentra Жыл бұрын

Most solid plan I've seen mark.

@stevenhoog1 7 ай бұрын

I have no problem saying NO. NO is a complete sentence. You don’t have to justify or explain yourself to anyone. Love what this guy says. I LOVE what this guy says. You don’t know jack. 😅

@barrywinslow9798 5 ай бұрын

Thanks for the great information. Looking forward to some entertainment income soon. You are awesome Sir.

@jetski7611 4 ай бұрын

The easiest way to get funds to your families is to process the money as s loan. No taxes on borrowed money.

@BearsFlyinVee 5 ай бұрын

Hello, Ninja 😊. I just signed up for your side hustle course. I am 70, visually impaired and disabled with Asperger's sprinkled on top . I pray I can find something great to work on! Thank you for your inspiring videos and God bless!

@cynthiajarratt4426 3 ай бұрын

Where do you find the side hustle course

@kinseya7217 6 ай бұрын

This is a great video. I've always had a plan for the winnings. 1) Plan for the Future 2) Plan for Family 3) Plan for Friends (very short list) This video opened my eyes to a lot of areas I was lacking.

@IICorinthians57 Ай бұрын

Thank you for this video. I made a step by step list, but I didn't think about going into hiding first. Good idea. In

@johnbengson8503 4 ай бұрын

Form a LLC in a no income tax like South Dakota and then create a Dynasty account, again in SD.

@malinachin5620 9 ай бұрын

I would love the implement these tips! I would love to get a book also!

@michaelmatisse2808 9 ай бұрын

skip step 7 do not tell anyone and change town, most people will do watever they can to take your money and then forget about you.

@johncleeut 3 ай бұрын

One idea to decide/filter closest family is those who you would trust giving your ATM card's PIN number to.

@davidjftooley 4 ай бұрын

Uhhh .. duh... Step 1 is ... Sign the ticket...

@outofcompliance1639 7 ай бұрын

Fun video. I hope I need this advice.

@TheMalfean 6 ай бұрын

Don't you just love how the State and Federal governments, having done absolutely nothing - stick their hands out to demand their share? Literally like a Mob Racketeering Collection guy who shows up for his money, whether you want or need his services or not.

@ralphlazio505 4 ай бұрын

New to your channel. We will be in touch soon because my wife and I will be coming across a pretty good amount of inheritance. Thank you.

@busseyb.227 3 ай бұрын

I would love to put these tips into practice!

@Mikael.formermilitary 9 ай бұрын

The first four should be don't do anything for a month. Get a lawyer and an exceptional accountant to guide you. Do not spend a lot of money. Fix up your house, fix your car, invest in Roth IRA, and lay low. I would leave my state.

@busterc6600 7 ай бұрын

Dam right leave the state 😂😂😂

@darkgalaxy5548 7 ай бұрын

@shibamom607 short answer, you can't

@lanaofficiel4042 7 ай бұрын

I would leave the country.

@karenwinston4084 7 ай бұрын

So paranoid.

@callak_9974 6 ай бұрын

Definitely putting the ticket somewhere safe is important. Some people might not trust keeping it away from them, but others might accidentally lose it too. Definitely however talk to a lawyer (don't tell them you got the big winning ticket but a sizeable one is ok, like all but 1 number off), see if its legal to create a trust or LLC or something to accept the money in your stead and the lawyer can accept the winnings on your behalf. You definitely want to possibly avoid having your name and face plastered all over the place.

@PeemTsheejDuaNtais98 7 ай бұрын

I'm an insurance agent and listening to you seems like I'm taking my CE class. Thanks for covering this topic. I hoped I will win the lotto so I can hire you.

@dr.kevorkian7535 Ай бұрын

Some of these steps of completely unnecessary and many are out of order. 1 Sign Ticket and take pictures front & back 2. Get safety deposit box, deposit ticket 3. Get lawyer/tax lawyer 4. Make claim 5. Deposit check & wait till cleared 6. Get Financial Advisor 7. Invest at least 40% 8. Buy at least 3 cash generating properties i.e. Commercial or Residential rentals ( Ideal Net Income minimum $50k ) 9. Buy house with at least 5 acres under $1,000,000 10. Buy at least 1 safe and reliable car/truck, nothing overly flashy, under $100k 11. Once you recieve the deed to the house and title to the car, put then in the safety deposit box 12. Set up LLC for the rental properties and hire team for rent collection, remodeling/renovations, insurance etc 13. Plan and Go on vacation 13. Now that you're on vacation sipping on cocktails with umbrellas on a beach, you can tell everyone. You own your house and car, you have hands free investment income, you have hands free rental property income and its likely a good amount of cash avaliable.

@1NicoleD 4 ай бұрын

This was very helpful.

@BW-kv9wj 7 ай бұрын

Open a Wyoming LLC which owns another LLC in Deleware or Nevada and link a business checking to it. Invest the money using the LLC. This is in case you get sued. If you sign it, use a notary and have it notarized.

@dbrennan1523 7 ай бұрын

Definitely want asset protection once you get at that level, you will become a target to everyone.

@notmyname3883 6 ай бұрын

Anyone who says "have a notary sign it," thinking that lends any more credence or import to it - is a DUMMY. There is NO LEGAL EFFECT to having something notarized...UNLESS it is actually a SWORN STATEMENT (i.e., an affidavit) and is REQUIRED BY LAW.

@jeremybutler2578 6 ай бұрын

I would get an llc and buy rental properties with 60% of the winnings (after taxes) and use a bit of the left over 40% to set up my own property management business and hire someone to run it. This would create passive income and it would create jobs... all this after i pay off my little bit of debt... once this is established and running smoothly i can travel the country and find the land i want to put my forever home on and start construction while i continue to travel the rest of the world until my home is complete.

@toddhellyar4167 6 ай бұрын

Security for everyone you love, tax strategy, insurance, comprehensive will.

@anjalikapur6581 Ай бұрын

Great info. Thanks so much 🙏

@DMS20231 Ай бұрын

#1 is hire an attorney from a BIG name law firm. Not an individual solo attorney or a small group of partners. You hire an attorney from a HUGE firm. This video is great advice.

@cherylatchley811 7 ай бұрын

In Indiana you can do income averaging by including yearly earnings from 3 previous years added to lottery total which takes the taxable amount down.

@Sonia-cs2vw 7 ай бұрын

Thank you! I just bought my winning ticket❤

@SPCHDCIPP 3 ай бұрын

As a professional Trustee, I would put it into an irrevocable trust and double the disbursement on the bank deposit when you file your 1041. Then when you go and purchase everything through the trust, take your tax credits and return to source on the 1099's when you file the return.

@MattDeloff_Online 4 ай бұрын

Great tips. Thank you.

@rainysunday6186 9 ай бұрын

Or if you have an iPhone, you could just activate the “do not disturb” function, and only those people on your contact list will get through. If you do the math, you will pay more taxes with annuity than you will, with the lump sum, and with the lump sum you will earn more interest.

@kermicgreen3370 9 ай бұрын

That's not true. You pay 37% tax regardless. You will end up getting more money if you take the annuity. However, you and your personal financial advisor can get much better returns than your state lotto commission.

@RAAC60 9 ай бұрын

@@kermicgreen3370 You are only taking into account the taxes that must be paid. But, you're completely overlooking the present value of money, inflation, devaluation of the dollar and rising tax rates, among many other factors. The lump sum is always the best choice.

@rainysunday6186 8 ай бұрын

B S. Figure the yearly tax by the time you get your 30 years out you’re gonna pay more taxes then you will in the lump sum. Maybe you need to go back to school and learn math. And you can earn more interest with a bank than with the lottery commission. The interest that they pay is very conservative government safeguarded interest, which means it lower interest but go ahead take your annuity don’t matter to me.

@kermicgreen3370 7 ай бұрын

@@rainysunday6186 you are on drugs if you think you will earn more interest with a bank than Lotto. Have you seen the rates of returns on CD’s or bank investments. Maybe you meant with an investment firm. You should not try insults if you don’t have all the facts buddy. Like I said, you can get a much better return if you use a good financial advisor. Your taxes are going to be the max level because you are in the top tax bracket.

@rainysunday6186 7 ай бұрын

So Dumas with the current jackpot of $680 million at the end of 30 years with your annuity, you would get $484 million. with a lump sum at 6% interest you would have over $1 billion dumbass

@southtexasprepper1837 9 ай бұрын

If I were to ever win the Lottery, I'm calling this guy to advise me. He definitely gives good advice.

@JG-iz9zy 9 ай бұрын

The state and feds are theivs

@hanswhite 8 ай бұрын

He gives good advice in general all things finance.

@reo7575 7 ай бұрын

hmmm, disagree..He is so wrong on taxes, he is wrong on first few items he posted. 1st take the photos of ticked along side of legal ID with photo. Not sure if I would take to safety deposit box unless I dont have a Fire proof safe in my house. you could do that the next day if you wish. Next get lawyer, I would suggest Tax lawyer. Also not all states require disclosure of winners. So this guy is not someone I would ever consult with on a lottery winning or much else.

@southtexasprepper1837 7 ай бұрын

@@reo7575 Why get a "Tax Lawyer," when one can get a Certified Public Accountant (C.P.A.) or Financial Consultant????? It's up to the individual Lottery Winner to make those decisions. Also, why would you want to draw attention to yourself getting a Fireproof safe in one's house right after you find out you've won the Lottery Jackpot????? One might just go ahead and place a sign in front of one's house stating "HEY! I just one the Lottery Jackpot and I have the Winning Ticket here in my house!"

@Mujahideen_khinzir 7 ай бұрын

⁠@@reo7575the lawyer has a conservative approach. Its not wrong though

@dennishaughton4554 7 күн бұрын

1. sign the ticket. 2. take pics of the ticket. 3. put it in a safe place. 4. Contact a lawyer & an accountant.

@robertmaccreight4910 4 ай бұрын

Good to get these steps down now!

@olanrewajuabraham3338 9 ай бұрын

This is very informative. I've been looking for the breakdown of the taxes, he broke everything down to pieces. Thank you.

@stevebouck4910 7 ай бұрын

Signing the ticket - FL just released info on the Megamillions winner from 8/23. They formed an LLC in Delaware. In Delaware apparently, they don't release the owner's info. If this information is true, it seems like you might want to hold off on signing the ticket until you have talk to your pro team.

@ThomasRose-mu9vg 4 ай бұрын

Excellent thanks ❤

@bobbkg762 3 ай бұрын

Awesome information...

@bobbybabsonjr787 9 ай бұрын

Day 90 go off the grid , let media get tired of looking for the winner, and the hype goes away, then let attorney pick up check in your trust name. Unless you want to get all famous then realize that was a bad choice with the world knocking on your door, someone from 5th grade you borrowed lunch money from ,and never paid back will be bugging you.😅

@BeachLife66 9 ай бұрын

State by state rules. For instance California doesn’t allow it to be claimed in the name of a trust.

@XANSEM 9 ай бұрын

Also you can only take the lump sum in the first 60 days after the draw

@MidwestBrotha 9 ай бұрын

Damn

@bobbybabsonjr787 9 ай бұрын

@@BeachLife66 I think Notth carolina you can do a trust , but not a blind trust. Wich your name is still going to come out eventually. But gives you time for a little peace.

@garyshan7239 9 ай бұрын

screw tjhat when you get all the advisors hired and trust formed. winnings in the bank then pay the taxes hold back the federal taxes they dont take out right away-invest those in t-bills so you make 5% or so until those taxes come due. Now you take 10% of your net winnings and thats your blow it money and money you buy mom a house or pay off the place she wont leave. The remaining money you just travel on-those advisors have your number. Anyone needs to call you they leave a msg at the lawyer who passes it on to you.