{"id":11682,"date":"2019-01-09T13:26:31","date_gmt":"2019-01-09T11:26:31","guid":{"rendered":"https:\/\/southafricatoday.net\/media\/?p=11682"},"modified":"2019-01-09T13:26:31","modified_gmt":"2019-01-09T11:26:31","slug":"how-to-get-secured-after-winning-the-lottery-8-things-you-have-to-remember","status":"publish","type":"post","link":"https:\/\/southafricatoday.net\/media\/gambling\/how-to-get-secured-after-winning-the-lottery-8-things-you-have-to-remember\/","title":{"rendered":"How to get secured after winning the lottery? 8 things you have to remember"},"content":{"rendered":"

What to do when I win a lottery? What perils come with the winnings? How to get secured and what to remember about? These are the questions you cannot take lightly. Powerball, Mega Millions<\/a>,<\/strong> Eurojackpot or other national lotteries might make us multimillionaires fast. But the winnings are not just a great joy, they\u2019re also a great responsibility. There are pitfalls along the way that are easy to run into. Instead of jumping right into the spending frenzy, it\u2019s better to take several wise measures.<\/p>\n

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  1. Remain anonymous<\/strong><\/li>\n<\/ol>\n

    The temptation to share the news on winning with others might be very strong. After all, it\u2019s just so wonderful to know! It\u2019s just hard to keep it to yourself. The family, friends, acquaintances, neighbors, mailman \u2013 they all should know (plus they\u2019re all invited to the after-party)! Not so fast, though. Lack of anonymity means lower safety level. There\u2019s a reason why celebrities cover their faces and hang their heads low when walking down the street. You, as a brand new millionaire, shouldn\u2019t stand out either. Wait until you get secured. Those who are meant to know will find out in their own time. Not too fast.<\/p>\n

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    1. Seek psychological supervision<\/strong><\/li>\n<\/ol>\n

      Sounds weird? After all, you visit a psychologist when you have problems, not lottery winnings. And yet those who came into possession of fortunes very fast might have serious problems. Psychology refers to this as the sudden wealth syndrome. Lottery winners tend to become depressed, apathetic, lose the meaning of life or quite the opposite \u2013 they descend into madness like Gollum in \u201cLord of the Rings\u201d, who went mad over the precious ring. Huge money may bring happiness, but it may also take it away. Psychological supervision is a must.<\/p>\n

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      1. Hire professional advisors<\/strong><\/li>\n<\/ol>\n

        It might seem that money management is no big deal. I can manage my home budget so I will also manage millions in lottery winnings. Well, you won\u2019t. Having a fortune is significantly different from the classic model of \u201can account for ongoing transactions plus one saving account\u201d. This is where we need a lawyer, accountant and qualified financial advisor. That\u2019s like switching from managing a local sports team to managing a large international club. We can\u2019t do it alone. There\u2019s too much stress and too much risk of financial losses.<\/p>\n

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        1. Pay your debts<\/strong><\/li>\n<\/ol>\n

          Take it easy, as a newly made fortune owner you have plenty of time to travel and enjoy all those luxuries that used to be out of your reach. First pay all of your obligations. Mortgage, car loan, consumer credit, student loan, money borrowed from friends or even that digital camera you\u2019re paying for in installments \u2013 pay it quick, right away. Get in the black again before you start your new life. Don\u2019t jump into it until you take care of all the financial obligations.<\/p>\n

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          1. Don\u2019t quit your job just yet<\/strong><\/li>\n<\/ol>\n

            How many years have you been waiting for the moment when you barge into your boss\u2019s office and happily announce: I quit! Winning the lottery makes a great opportunity for that. Nothing is keeping you in the office anymore, after all. Remember, though, that plenty of things may happen. Your win might turn out to be a mistake \u2013 wait until you see the money on your bank account. Or something might happen along the way and one year from now you may have to get your job back after all. And then what? Your bridges are burned. You got a bad fame about you and now nobody wants to hire you. That\u2019s why it\u2019s better not to make rushed decisions, and quit your job with dignity and reason.<\/p>\n

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            1. Watch out for leeches<\/strong><\/li>\n<\/ol>\n

              Now that you are filthy rich, it might turn out you owe someone some amount, someone else borrowed you money the other day, and then there\u2019s someone who simply deserves it. Expect lawsuits even from your family members. It\u2019s better to check your family tree to learn the potential claimants for shares in the winnings. Better invest in a good lawyer right away, because as soon as you win the lottery you will find out there\u2019s plenty of people who want something out of you and honestly believe they are entitled to it.<\/p>\n

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              1. Only spend the profits<\/strong><\/li>\n<\/ol>\n

                A shopping frenzy after hitting the jackpot might seem like a great idea. And the most obvious one, too. Finally you have money for all that neat stuff! On one hand, it is true. On the other, our assets might vanish very fast if we get caught in a spending spree. That\u2019s exactly how plenty of people end up in the red in a year or few after winning. Be wiser than that \u2013 start living off the residual income. If you let your millions work for themselves, the monthly profits will be enough to finance all those spendings anyway. Part of the winnings can always be spent on the next lottery purchases at Lottomat.com<\/a><\/u><\/strong><\/p>\n

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                1. Don\u2019t invest in something you don\u2019t understand<\/strong><\/li>\n<\/ol>\n

                  Real estate? Safety deposits? Boring! Winning the lottery causes temptation to put the money in something unorthodox. Buying a whole cellar of old wines or investing in that great new financial instrument that is meant to generate record profits. The phone calls just keep coming, there\u2019s always another interesting offer. Be careful. It\u2019s better not to invest in something you don\u2019t know and don\u2019t understand, because it\u2019s easier to lose than to gain this way. During the first few months, go for the \u201cboring\u201d reliable options \u2013 apartments, properties or bank deposits.<\/p>\n","protected":false},"excerpt":{"rendered":"

                  What to do when I win a lottery? What perils come with the winnings? How to get secured and what to remember about? These are the questions you cannot take lightly. Powerball, Mega Millions, Eurojackpot or other national lotteries might make us multimillionaires fast. But the winnings are not just a great joy, they\u2019re also […]<\/p>\n","protected":false},"author":1,"featured_media":11683,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[5431],"tags":[5033,7352,7351,5787,6502,7350],"class_list":["post-11682","post","type-post","status-publish","format-standard","has-post-thumbnail","category-gambling","tag-advisor","tag-anonymity","tag-eurojackpot","tag-lottery","tag-mega-millions","tag-powerball"],"_links":{"self":[{"href":"https:\/\/southafricatoday.net\/media\/wp-json\/wp\/v2\/posts\/11682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/southafricatoday.net\/media\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/southafricatoday.net\/media\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/southafricatoday.net\/media\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/southafricatoday.net\/media\/wp-json\/wp\/v2\/comments?post=11682"}],"version-history":[{"count":0,"href":"https:\/\/southafricatoday.net\/media\/wp-json\/wp\/v2\/posts\/11682\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/southafricatoday.net\/media\/wp-json\/wp\/v2\/media\/11683"}],"wp:attachment":[{"href":"https:\/\/southafricatoday.net\/media\/wp-json\/wp\/v2\/media?parent=11682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/southafricatoday.net\/media\/wp-json\/wp\/v2\/categories?post=11682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/southafricatoday.net\/media\/wp-json\/wp\/v2\/tags?post=11682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}