I won the MegaMillions jackpot recently, but haven't claimed the prize yet. I am concerned about media attention, tax implications regarding a prize in excess of $ 180M as an all cash payout...any advice ?...I am 40, no debt, divorced, and am already financially stable. I have no idea what to do about this, and the best plan I can come up with is to move to Las Vegas and spend my time at strip clubs...
2007-03-18 20:28:39 · 16 answers · asked by Richie Rich 1 in Entertainment & Music ➔ Celebrities
I'm a unemployed veteran and i will help you with a Little . and i will get ya back
2007-03-18 20:33:29 · answer #1 · answered by TEBOE7 3 · 0⤊ 0⤋
You must be the winner from NJ that hasn't come forward yet. I was happy that someone from NJ finally one, being that I buy my tickets there as well. Best advice I can give, (from hearing about big winners, is losing it all due to poor money managers) is to make sure you have more than one trusted financial planner and keep on top of them, do not let them have power of attorney. You can still move to LV and go to strip clubs, but why don't you do something worthwhile? Find some charities that mean something to you, that will also give you a way to write off the debt. Check out my website, you can invest in my company, we are looking for a company to make our product....www.lukedoggllc.com
Congrats and good luck whatever you do. :)
One more thing...this week's People Mag (Sandra Bullock on cover) has an article re: past lottery winners and the other person from GA that won the Mega Millions with you. It might give you some insight as well. CHEERS!
2007-03-19 02:54:46 · answer #2 · answered by lukedoggllc 3 · 0⤊ 0⤋
Firstly I'd be in a hospital and fully medicated due to the shock , knowing it was a once in a lifetime thing, I would Invest in race horses, instead of gambling it away. Why not buy your own strip club instead of being the 40 year old guy with sucker written across your forehead while the owners and superficial women are sucking you dry. If also you get it all in a lump sum you'll be taxed highly rather than being taxed lower being spread out over years. You should have the big splurge on your first year and before then next year work out what you wasted it on as you wait for the next payout date then you will realize what you really want to do with the rest.
2007-03-18 23:31:39 · answer #3 · answered by Riley 7 · 0⤊ 0⤋
If your that worried, give it away. No one will harass you if they think you gave it all away. I'll take it off your hands if you don't want it. But seriously, yes, you will be taxed heavily. Hire a lawyer and an accountant. Don't just blindly trust them either. Its your money, talk to them about where it is going. Give lots away. You can't spend it when your dead. Go to Vegas or somewhere for a while. Definitely strip clubs, but don't lead on your a millionaire. Strippers will eat you alive if your not smart. The media attention will die down. The people you need to worry about are the scam artists and identity theives. The "friends" that will come out of the woodwork. Your life WILL change. Ask yourself, were you happy before the winnings. If you say yes, maybe giving most of it away is the answer. Keep enough to live happily off of, give the rest away. Or, do what I would do. Change my life completely. Travel the world, learn everything possible, learn to be self sufficient so you don't have to depend on others to take care of you and your money. Trust no one but those people who were their for you when times weren't so good. They are your true friends. Get in shape, you'd be surprised how much better life is when your body is healthy. The women like a man in shape too. Basically live your wildest fantasies but be intelligent enough to know your limits and to not fall into any traps. BE SMART. Hope this helps, good luck
2007-03-18 20:46:58 · answer #4 · answered by aaron 3 · 0⤊ 0⤋
Awww, don't do that.
The best advice I can give is to get a financial planner. The majority of people who win the lottery eventually end up broke, in debt, or terribly unhappy.
Check out my sources for a great article that outlines the details and decisions you have ahead of you.
And if you're feeling generous... my e-mail is in my profile ;)
(kidding!)
Hope this helps!
2007-03-18 20:37:05 · answer #5 · answered by p37ry 5 · 0⤊ 0⤋
Lol invest it.
Pay your tithes
Give to a worthwhile charity
Start a scholarship or grant foundation
Give to the poor
Become a mentor for troubled children
With that kind of money, after you get yourself straight, you can do anything you want. The sky's the limit!
Or....you can be selfish and blow it all on yourself.
2007-03-18 21:25:02 · answer #6 · answered by beautifulblackme 2 · 0⤊ 0⤋
have fun,if i won a lotttery i wld be out clubbin goin on holidays whatever u do dont hold back,u've now got the chanceto explore.u may notice that u've got more friends but really they are only using u for money.take advantage of the idea,and spoil urself
2007-03-18 21:59:19 · answer #7 · answered by xxashtonxx 2 · 0⤊ 0⤋
Spend some, save some, waste some, donate some, invest some!
Who was it who said 'I am going take all this money and spend 90% on wine, women and drink and waste the rest'?
2007-03-18 20:38:18 · answer #8 · answered by snapdragon747 5 · 1⤊ 0⤋
I need $10,00 to get out of debt.... do you feel charitiable????
But you should travel.... go blow a bunch of cash in vegas but youll probably get bored of that quickly. Go fancy places meet beautiful woman., Have fun. buy a boat. but 8 houses. buy everything... dont forget to invest.... and if you need my # let me know lol......hey i can dream!
2007-03-18 20:32:37 · answer #9 · answered by juli_jugz 3 · 0⤊ 0⤋
I charge $180M for a consultation.
2007-03-18 20:38:38 · answer #10 · answered by Incognito 6 · 0⤊ 0⤋