Powerball Winning 101: How To Stay Rich After Winning The Lottery Jackpot
by Winnie Sun, CONTRIBUTOR, Forbes
The Powerball Lotto has reached astronomical levels of interest as the jackpot nears $1.5 Billion Dollars! If you’re one of many who purchased tickets, you might be daydreaming about your future. Today our local news station visited me at the office asking for financial planning insight for potential winners. Below are some thoughts and action steps I shared with the reporter:
- Sign your ticket. If you haven’t already done so, make sure you sign the back of your ticket with a permanent marker.
- Try to stay anonymous if your state allows. Currently only six states allow winners to remain anonymous – Delaware, Kansas, Maryland, North Dakota, Ohio and South Carolina. Four more — Colorado, Connecticut, Massachusetts and Vermont — allow winners to remain anonymous if they claim their winnings through a trust.
- Breathe and enjoy. Your future success is all determined by how you keep your cool and how well you’ve planned.
- Before you cash in your ticket, create a checklist and start building your financial team. Don’t turn that ticket in until it’s done. It’s important to have people in place before the news vans arrive at your door.
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