Here Are The First Things You Should Do If You Win Powerball
With the next Powerball jackpot now ballooning to a whopping $1.4 billion, a lot of people are dreaming about what they could do with that kind of money. Even after taxes, you'd still take home almost $870 million. That's an awful lot of exotic cars, huge homes, and lifetime vacations. But, before you do any of that, here are a few things that you should do if you end up holding the winning ticket.
The worst thing you can do is post a Facebook status announcing to the world that you're a newly minted billionaire. It can't hurt to tell your most trusted loved ones, but this is something you'll want to keep close to the vest until you have things figured out.
Now that you have pretty much unlimited funds, you'll want to hire a lawyer right away.
Anyone who ever thought that you've made promises, done them wrong, or once dated, will probably start crawling out of the woodwork claiming that you owe them such and such. A good lawyer will help you navigate those headaches.
Sadly, the lotto landscape is littered with people who've won epic amounts of money and are now broke.
Whether you take the lump sum or the 30-year annuity, you'll want to be smart with investing, spending, and donating.
Nearly $900 million is an awful lot of cash, but even that won't last forever if you start spending it like a mega-celebrity.
If you end up being the sole winner of the country's largest-ever jackpot, you'll probably start to hear from anyone you've ever met (and a lot of people you haven't!).
It may sound cynical, but from distant relatives to kindergarten classmates, there will be a lot of people who'll try to play on your sympathies and good nature for a hand out.
Keep the group of those that you trust very small. We're talking your immediate family. As much as you might want to help friends out right away, it'll be prudent to hold back for a little while and find out who the ones are that you can truly count on and trust.