Update: What to do if you win the lottery.

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12 responses

  1. Avatar for Andrea from CHILE
    Andrea from CHILE May 31st, 2007

    first at all,I would like to learn English pretty well;therefore, I would take an Intensive English Course in London or New York.After that, I would travel around America ,Europe and Asia.I would take a long vacations;besides, I would never work again.
    I think this prize would give me the chance to make all my wishes.
    ANDREA from CHILE.

  2. Avatar for aholyoak
    aholyoak September 5th, 2007

    When i win, i am going to first of all, call me lawyer. Then, i am going to invest a large portion of the funds. Of course i am also going to take my family and friends on a lavish vacation. I am also going to continue on with college. I am currently a junior and want to finish. I will pay off my student loans and pay off my sisters college loans as well. My family has done so much for me. A friend of my fathers has done alot for us as well and i would def give him money to pay off his debt. Overall i would live my same life! Oh and maybe buy a few pairs of shoes

  3. Avatar for Angie
    Angie October 9th, 2007

    When I win the lottery my first step is to give God His share. Then, I would consult a financial advisor for the wisest way to invest most of the winnings. Of course, I would buy a home, a car, and go on a nice vacation, but I would also make equal donations to members of my extended family. The best part of winning would be the security of investing for a comfortable future for myself and my chilren. I think the key is to stay grounded.

  4. Avatar for Robert
    Robert February 12th, 2008

    THE FIRST THING I WOULD NOT DO IS SIGN IT IN YOUR PERSONAL NAME.Depending on your state tax rules you might be able to minimize your tax liability by signing it in the name of an LLC, or some type of company. Get to a lawyer BEFORE you sign it, after you know it's a winning ticket. Or pre-plan this if you think to continue to play the lottery.
    Then contact a guy in Medford Oregon,called Gino Casternovia. He is a financial planner that will help you minimize your taxes AFTER you receive your winnings.
    He can help you learn how to invest safely,offshore. Off shore is a designation, NOT a location. Nevada is considered "offshore" and so is Wyoming.
    Gino Casternovia will show you how to take advantage of minimizing taxes(which can be substantial). and what off shore means, and what to do with the tax advantages offered by off shore designation. Then there is off shore, meaning other countries.
    There are caribbean countries that SEEM like a good deal but the US government can and will make inquiries about your accounts there, and that country will hand over immediately whatever the US Government asks for.
    However in Panama, there are options available that are worth checking into.
    Read up on it. Take no one's word for any of this. Check into this information, and you may be pleasantly surprised. Do google Gino Casternovia and get to his website, whether you are into money are not. You'll learn a lot, and it will be a worthwhile expenditure of time.

  5. Avatar for Already a millionaire
    Already a millionaire May 1st, 2008

    Not say a thing until I
    - pay all the tax amount due immediately
    - get advise from a qualified accountant
    - By my kids a home (Not mension, just a comfortable & secured house)
    - Invest a portion and leav on the interest
    - Open up educational trust for my kids
    - go into franchising
    - Fix my car
    - Think of somethnng to do to give back to the community (e.g pay for child (poor)school fees until university I would love that.

  6. Avatar for darbs
    darbs May 9th, 2008

    get hammered and spend the lot!

  7. Avatar for Sharon
    Sharon August 25th, 2008

    When I win the lottery jackpot and it will be soon, I plan to try to keep God first, will contact a lawyer, pay off all of my debts and former debts, and divide monies between my children. Also want to pay off house, buy a better car, buy my son and daughter a car, and pay for their tuition for school, pay dental bills, and buy the kids some clothes. I would also like to fund help for animals who do not live very long but are entitled to love and care. I want money to be of help to other people and things before I die.

  8. Avatar for Ash
    Ash November 4th, 2008

    When I win the lottery, I would make as manys people lives better as I can. I would work out "the great good for the greatest amount of people". I already live a happy life, so the more people i could help to be like me now, the richer the world. If you look up money in the dictionary, what does it say? It it doesnt say happiness. I believe being rich is having family and friends. Why do i need that much money when there is starving children, war, homeless, health shortages etc. Look at the real world. Save the world and you save yourself. what use is millions of dollars if there is no one around to share it with?

  9. Avatar for sawani
    sawani February 2nd, 2009

    I will buy a Golden retriever puppy..

  10. Avatar for puma1
    puma1 March 10th, 2009

    I would give 10 % to churchs help women with cancer my mom died from breast cancer the rest will come little by little

  11. Avatar for Jake Ransom
    Jake Ransom June 4th, 2010

    Update: Gino Casternovia was tried for and convicted of conspiracty to commit fraud against the US, conspiracy to commit wire fraud and conspiracy to commit money laundering. He is to be sentenced on July 6, 2010. "Offshore" means just that, offshore. No matter how you set things up whether in Wyoming or Nevada, they are not offshore. There's a lot of tax misinformation out there designed to appeal to your sense of greed. If you want to know what the tax laws really mean your best bet is to ask the IRS. They do not write tax laws, they simply apply/enforce them. If you rely on the internet and internet-based promoters for your tax guidance you have no one to blame but yourself for any ensuing trouble. Gino and his kind are simply misguided scam artists.

  12. Avatar for mark the spark
    mark the spark September 24th, 2010

    If i won the lottery i would support my immediate family and have a damn good go at spending the rest!