In these economic times we still have people hitting the lottery for millions of dollars, inheriting millions, and making fortunes on certain investments. Are you prepared for a financial windfall? I would venture to say that many are not. I would further venture to say that EVERYONE should be because what it takes to be prepared for a windfall is what it takes to be prepared for LIFE!!
Here are my lessons for life as it relates to Winning The Lottery!!!
1. Too much of a good thing is not a good thing. Do not take a lump sum payment. Take the money over time. It gives you time to think rationally and even to learn more about what you have and what you really need.
2. What you don't know CAN hurt you. Learn about money. Educate yourself by taking a course on money management and investments. You have the time and money and it is well worth it.
3. You Can't Take It With You. You need to make a will. A will represents your wishes regarding the distribution of your assets. Without a will, you leave it to the state and can create disharmony among your family. A little planning goes a long way.
4. Help Those Who Help Themselves. Many people will ask for help along the way and some immediately upon knowing of your good fortune. But ask them, what are you doing to help your situation? Do not just go on what they say, go on what you know. People do not change with a hand out.
5. Know Your Friends. Your true friends expect nothing from you that they were not already getting before your windfall.
Share your comments or contact when you hit the lottery at http://www.ythlaw.com/
No comments:
Post a Comment