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User Name Thread Name Subject Posted
GUEST,Karen BS: Power Ball Over 1 Billion Dollars (24) RE: BS: Power Ball Over 1 Billion Dollars 13 Jan 16

I was just watching the news on local TV news in Los Angeles.
They had a guest on who is a financial advisor.
He was saying that most people (about 70%) blow their big lotto winnings in 7 years. He said if you do win a huge amount in the Lotto you will need to contact a tax attorney and a trusted financial planner/advisor. I have never used either before. Never needed a tax atty. for my little earnings. :-(
He said a lot of people make the mistake of just giving huge amounts to friends and relatives (which in turn brings more relatives and friends out of the woodwork) and it just goes on and on.
He also said it is better to take lump sum (even though a lot less then if you took it in monthly payments for 30 years)

Well, if one of the few tickets I bought are winning tickets I will be very happy. Just two hours to go for the drawing at 8 PM tonight.

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