Forum Discussion
PghBob
Mar 19, 2015Explorer
Usually, the first thing most folks should do is meet with a Tax Attorney and Financial Planner. Periodically, papers like the Wall Street Journal and financial magazines publish stories on folks who have hit it big on lotteries only to lose it all because of lack of planning. It's amazing and scary to read. The number of folks this happens to is surprising.
Having said that, I would hit the road immediately. You are likely to lose all privacy if you hit it big, and the solicitations would drive me crazy. On the road, I will make it much harder for anyone to find/contact me.
On the RV side of things, I would probably move from our Class C to a quality 36 to 40 foot Class A, likely built to my specs. I might even consider hiring someone to drive us anywhere we wanted to go, and a chef to cook for us. I like the suggestion above regarding international RV trips.
Finally, like others, I would fund several of my favorite charities. I would give them a set amount, but would require them to use it as an endowment, taking only a small percentage annually, based on investment performance.
Having said that, I would hit the road immediately. You are likely to lose all privacy if you hit it big, and the solicitations would drive me crazy. On the road, I will make it much harder for anyone to find/contact me.
On the RV side of things, I would probably move from our Class C to a quality 36 to 40 foot Class A, likely built to my specs. I might even consider hiring someone to drive us anywhere we wanted to go, and a chef to cook for us. I like the suggestion above regarding international RV trips.
Finally, like others, I would fund several of my favorite charities. I would give them a set amount, but would require them to use it as an endowment, taking only a small percentage annually, based on investment performance.
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