2006-12-08 03:56:37 · 10 answers · asked by Duke P 2 in Business & Finance ➔ Personal Finance
I would retain a reputable attorney, accountant, and investment broker. I know that sounds like an oxymoron but there are some aaib's out there that you can trust. Make the statements "no comment and I'll consult my attorney" your catch phrases and use it when anyone approaches you regarding anything. Don't sign anything, make any verbal agreements or promises or commitments without your attorney and accountant first. Don't allow anyone access to your money, ie. don't let your accountant, attorney, or investment broker the ability to sign checks, make withdrawals, transfer money, etc. on your bank accounts. Don't go on crazy shopping sprees buying everything you ever dreamed of or wanted in your life and didn't have. Keep your life as normal as possible. The more extravagant you live, the more likely you will blow through your money and be broke again.
2006-12-08 04:34:23 · answer #1 · answered by eehco 6 · 1⤊ 0⤋
Tie the money up in different investments would be the best way. The best option would be to have a diverse portfolio of different assets, this means buying shares in selected companies from different industries, purchasing bonds and annuities. Purchasing real estate etc.
The other way to protect a lot of money is to tie it up in an offshore "cell" this is a phantom company which acts as a insurance firm, it holds the money in offshore banks which can protect from US taxes. It effectively acts as a pool of money which can be dipped into.
2006-12-08 04:02:54 · answer #2 · answered by Stuart J 2 · 1⤊ 0⤋
Don't let anyone know that you have won right away. Hire a financial consultant & make a few investments. Did you know that the interest you can make off of 1 million dollars in a year is over $60,000.00. You could live on that!
2006-12-08 04:04:10 · answer #3 · answered by artist0027 3 · 1⤊ 0⤋
Depending on how much you won and if you choose to get it all at once or annually. I would consult with a lawyer, an accountant and then I would invest and save the money with a well known trusted bank.
2006-12-08 04:01:40 · answer #4 · answered by charliesangel5554 1 · 0⤊ 0⤋
Not telling a soul that you won is the best way.
2006-12-08 03:58:59 · answer #5 · answered by ...mr2fister... 7 · 2⤊ 0⤋
I would give lots of it to my family and I will spend all of the money. Is it a great idea?????
ha ha ha ha
2006-12-08 04:08:42 · answer #6 · answered by Okano-Irl 5 · 0⤊ 0⤋
Mutual Funds, IRA's, stocks & BOnds, CDS, etc.
2006-12-08 04:04:08 · answer #7 · answered by unan1m0us 5 · 0⤊ 0⤋
Move as far away from your relatives as possible
2006-12-08 04:04:16 · answer #8 · answered by gandalf 4 · 0⤊ 0⤋
I don't know. If I poop out a Tibetan llama, what should I name him?
2006-12-08 23:42:28 · answer #9 · answered by Big R 6 · 0⤊ 0⤋
Give it to me I'll hold it for you.
2006-12-08 04:10:13 · answer #10 · answered by Your #1 fan 6 · 0⤊ 0⤋