Apparently, winning a lottery ticket is something very complex on its own. It is then how you plan and compose yourself when luck locates you.
Though we all want to win these most people don’t prepare for what comes forth after winning such a huge chance in a lottery game.
Now, let’s discuss some important things one should do which will not turn lucky day into unlucky day for you.
Don’t go for the wins prize too soon
Planning arrangement should be made important after winning lottery ticket because it’s the only way to achieve all your awaiting dream. These are main warnings with steps you can take before you go for your prize as you will definitely have these three sets of people or more to locate you,
- Kidnappers who need you for nothing but for a ransom
- Scammers “wealth administrators” who want to see you going back to being poor
- Uncle Joseph will want to lure you into his silly idea to invest in a themed cold business
1. Keep your ticket safe and use your time
Firstly, keep your winning lottery ticket safe. Do photocopy of it, keep the original copy, go and save the original copy for that ticket and safe it at the bank.
Once your ticket is safe, then go ahead to reach the lottery authorities. This is mainly to make the social media noise die away and catch a breath, then draw what you wish to have in a new life you’re about to step into is very essential as regards winning a lottery.
Sometimes, it takes 365 days or less before you can claim your winning lottery ticket, so taking a week before you claim your win might really help your mental state.
2. Stay Close To Your Present Appointment
It’s true the real-life you’ve always dreamt of is around, but opting out from your present job too quick isn’t the best because what you’re holding right now is millions of people’s dream but couldn’t get it.
Try and be calm to see how things go as to be sure if there was no mistake, made on the number and date on the ticket you won. Take it cool at work too as this may might prone your boss to look for someone fits your position there.
3. Accommodate Professionals on winning a Lottery Ticket
You will really need financial professionals that will help you to plan ahead as regards financial trail which you will chase that won’t take the chance of modifying your living to good be a danger.
Otherwise, if the advice you’re given doesn’t suit you, then you can proceed to another advance opinion by having just two sets of people, that is, a lawyer and a financial advisor. You can achieve it.
4. Relocate to a restricted area and go out of reach
This is very important once word about you winning the lottery ticket gets to people where it keeps transferring till it gets to your long time and present friends, workmates, investment advisors and so on. They will all come near you at this particular time.
So, make sure you switch a phone number to a new one and unlisted one and get a post office box that will work with your email. This will really help in making it very difficult for all those mentioned above to locate you.
Also, you will shut your wife up from sharing news about this with people and let her understand how essential is to keep it a secret and this would be very good if you can keep this away from your children as children have a small rate at keeping secrete.
5. Don’t buy new things on winning a Lottery Ticket
This is an advice everyone always makes as tones but fewer people make use of it.
You needn’t buying anything new as this announce you more than anything, no new car, no new wears and no enormous travelling. You let your lawyer and financial manager do everything for you so as to focus well on your job.
Because this leads them to make findings of you immediately they see you glowing with your new things and this may expose what you are keeping.
When Attaining Your Win
There are just only two methods to clear lottery winnings; “annual payment” and “lump sum”.
- Annual Payment (also called Long-Term Payout)
This is a method by which lottery prizes are cleared off annually. It takes 20 to 30 years before you can get everything handed to you.
This is good because it will be difficult for such a winner to go bankrupt as he gets paid annually even if he doesn’t maintain the share given in previous years and it attracts low tax payment. But this loses its value each year as it drops down because it is not adjusted for inflation and it most times stops as the winner dies as the remaining part of your payment may not be transferred to your next of kin.
- Lump-sum
This is a method where you get your winning lottery prizes once, but you’re based on per cent here as you will get only 50% of an announced prize. Every payment is based on current money value to the jackpot which is more different from that of annual payout.
Lump-sum is good with tax as there are possibilities that tax increases in later future and there is no future variables to affect your payout once you’re assured to get paid with lump sum payment method but this may lead to poor financial management of the prize as you may be spending lavishly because of the weight of the money you will receive once.
After Receiving Your Prize
The following steps are perfect in achieving the long-awaited Fortune and the same time to avoid enmity among your foes
- Let the real work start by the people you hired and you could hire new sets of people if you don’t trust them.
- Pay off all the debt you’ve been owing people for years. Gladly pay all your debt in order to be relieved of the high interest on tax that must be on that huge money. Then call on your professionals to decide what to go about with the remaining money.
- As you know that people that have made millions have their own stance in financial problems even more than a common man. Setting up a healthy-sized emergency fund is one of the best things you can make do with the winnings. The best is to set away enough to cover expenses of six months.
- Set aside some percentage from your winnings for retirement pay and also the school fees of your children.
- In fact, the unborn ones too, then save it into an account. This is the perfect way to avoid going back into working in your 80 years of age.
- Share your fortune with less privileged people too; it might be a charity home, people within and far who is battling with financial incapability or a church. Sharing your fortune makes you richer. You start to deduct the donation on your taxes!
- Again, many people will approach you for different life issues in which you need to say NO sometimes because this might actually take you back to that former life of yours. I know you won’t want to. Though you must help the needy but don’t go out of the box.
Summary
It’s everyone’s dream to win a lottery, but this is somehow always competitive as this is a game between up to 200 million players but just a person wins the lottery game.
Hope this will help you if you’re the one that just won, or maybe there is anyone around you that won. You can take this home for them as a guide.
You might want to play, check TheLotto.com, it’s the best place to purchase tickets online, anywhere in the whole world.
