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People that hit the lottery but go back to work
#16

People that hit the lottery but go back to work

If you win the lottery the first person you call is a lawyer, not your friends or family. You set up a LLC and use that to claim the prize money (this is cheap to do). In this way no one will know who won the money. You should structure your corporation appropriately for maximum tax advantage.

After you claim it, you should probably consult a wealth management firm. The kind that handle money for rich old families. Your main concern should be wealth preservation and conservative growth, not gambling it away. Also have your investment pay you an annual salary. Set aside some cash to have fun with, and lock the rest away.

There is a show on TV that talks about lottery winners, and most of them lose it all.
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