What to do immediately after winning the Powerball jackpot, according to experts
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(Nexstar) – Assuming that you have eaten eternity rates and earn the Powerball bonus on Saturday night, there are a few things you need to do to avoid costly errors.
The bonus grew on Friday 1.8 billion dollarsTo make the second largest US Lottery Bonus in 2022 in California in California. Exceeded $ 2 billion.
Pre -tax numbers are surprising, but after matting with numbers, the game plan of a winner can determine how rich it is.
“The biggest fear of those who won suddenly and especially the lottery winners will ruin it, Robert Robert Pagliarini wrote the author of the“ Sudden Solution of Wealth ” Told to nexstar.
Pagliarini has advised customers, including lottery winners, about how to handle big money flows for more than 20 years. He says that the target is always to turn this collective sum into a permanent reserve, but he added that there are some things to do for lottery winners.
Important first step
The winning lottery ticket can only be stolen, lost and even Destroyed in a washing machine.
Until it is signed, the ticket is a financial document to be paid to the person who owns a carrier vehicle or physically.
“This means that they really need to document what the ticket has the owner of the ticket, Pag said Pagliarini. “That’s why I would buy a selfie with the ticket, I would buy a video of me and the ticket, sign the ticket and keep this ticket in a very, very safe place.”
Don’t go alone
If possible, experts give a secret to win the lottery while creating a team of experts.
Pagliarini warns that foreigners, friends and even family members can come to play after the word. A lawyer, tax consultant and financial consultant to protect earnings recommend that you employ as soon as possible.
When you go, there will be helicopters flying from the top and collect such gains. These things are happening because the world is excited. And now everyone knows you have a billion dollars that are not good. It is not a good thing in any circumstances.
It recommends that you stay outside the spotlight and to tell as few people as possible and prepare a plan to prepare to talk to the media.
Annual or collective payment?
A monumental decision faced by the winners of millions of bonuses, how they will get their earnings – has spread in a large collective or annual income payments.
If someone beats 302.575.350 and wins millions of bonuses available on Friday, they will have to choose between receiving the pot for 30 payments for 29 years, or they will have to make a roughly $ 602 million lower cash sum.
Nicholas Bunio, a Pennsylvania certified financial planner, said that it will receive a year of income even with its expertise because it will significantly reduce the risk of making bad investment decisions.
“It allows you to make a mistake here and there, Bun Bunio said. “People do not understand that they have a loss of loss. They only focus on the potential of earnings.”
The gap between cash and annual income options has become greater because inflation has increased an increase in interest rates, which has potentially led to larger investment gains. With annual income, bonus money is essentially deposited and then paid to the winners for thirty years.
“You should see what the best option is for you,” he said to Nexstar.
Although the mass amount is more popular and will provide instant access to money, it also means more tax.
Evensen, “Federal will be taxed up to 37 percent, and then depending on your state tax even more taxed,” he said. “So, I talk to an accountant to make sure you don’t spend much in your mind before you really get the money and get your tax bill at the end of the day.”
Whichever payment plan you choose, Evensen recommends to deposit part of the money. What you invest depends on your goals, but “low -cost investment funds are a great place to start index funds”.
Associated Press contributed to this report.
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