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Will You
"After You Win the "Lottery-Winning-Number" - What Will You Do With Your Fortune Money" by William J. Cruz
"After You Win the "Lottery-Winning-Number" - What Will You Do With Your Fortune Money"
Some people who won the "lottery winning number" had more problems than solutions. Because it seems that, regardless of the number of winners they have obtained, they become more poorer than before in just a few years of spending their lotto prize money.
Sometimes lack of proper planning and wise spending. Other times, you lose ... or has as an English soccer player George Best once said: "I spent most of it in the alcohol, women and fast cars .. The rest is lost"
This is what you should do, after saving it to your bank account:
First, do not listen to the advice of your friend. They rarely have the financial expertise to advise you. Although their interests at heart and are well intentioned, still they are not the people, should seek advice.
It's the time to seek for a financial advisor at a major bank.Ask for a Vice-President of the accounts of high net worth (high net worth individuals) have been successful. Most banks have a separate special place for this division.
Second, take some break for spending to much,block the budget and don't spend even a cent. Your natural instinct if you won a "lottery winning number" is to consume the money to pay everything, giving a gifts for family and friends. But I do not do this yet. Ask for some advice on how to avoid taxes by merely giving a gifts, prosecutors in some jurisdictions are strict in imposing tax for this. From here you can end up with a tax bill that could wipe out much of your lottery prize money.
Third, you do not hear much about these proposals, but is based on centuries of wisdom based on experience ...
Do not spend your winnings. Instead, make a fortune by providing a steady source of income for you. Back in the bygone era, the rich in general. "Don't touch the capital." Capital in the form of cash or income-producing buildings, was the source of all revenue.
The land and the resources invested produced a steady stream of cash flows. The rich lived in interest or rent, and never touch the capital.
It is recommend to place their profits in commercial real estate, bonds or other financial instruments by the consultant for high net worth, income, and life everlasting. For if their capital is spent it will disappeared forever.
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Michael Jackson - Will You Be There (lyrics)