What You Need to Do if You Win the Lottery
We have Powerball and Mega Millions fever here in the Bayou State! Who hasn't thought about what you would do if you had the winning ticket?
This week, the Powerball jackpot is estimated to be around $550 million, and Mega Millions is projected to be around $445 million. Wow. That could buy a lot of boudin and cracklins! So what would you do if you actually won? Huff Post has some suggestions that are pretty spot on, and very practical, just in case you find yourself with the winning numbers. Good luck, friends!
- Make sure you get the annuity, or annual payments, instead of a lump sum. I'm not sure I agree with this one, because some states will not allow heirs to inherit the balance of your winnings if you pass away before it's paid off. Check with your state Lottery officials to be sure
- Give back to your community! Now is your chance to do something good for yourself and society
- Get a financial adviser. Right now
- Don't tell anyone that you won. Or if you have to, make it as few people as possible
- Calm down, and don't make any quick decisions about what to do with the money. You don't actually have to cash your ticket in today.