Search results
Jun 18, 2010 · If you’re lucky enough to hit the jackpot, or even take home one of the million dollar prizes, the most important thing to do is to not make any decisions right away.
- Use a high-interest savings account
 While you have a year to claim your winnings, it could still take a while to sort out what to do with that money.
- Invest in dividend-paying stocks. 
Imagine if that lottery win could last generations. It really can, if you invest wisely. Consider putting your money into dividend-paying businesses.
- Buy your dream house in cash
 If you win the lottery, there's no way you won't upgrade your living conditions. Don't go crazy, of course -- think twice before buying a $20 million abode -- but if you want to spend a couple million on a new place, then go for it.
- Set up a donor-advised fund. Rather than simply cutting some cheques to your favourite charities, go to your bank and set up a donor-advised fund. You'll still be able to donate that money to whomever you want, but the financial institution will grow your dough in the markets so that you'll always have cash to give to people in need.
- Stop, Think and Breathe
- Sign The Winning Ticket and Hide It in A Secure Spot
- Don’T Advertise Your Win to Everyone on Your Contact List
- Get A Financial Advisor, Or Lawyer, and Draw Up A Plan
- Turn in Your Ticket, Claim Your Prize, and Change Your Contact Info
- Let Your Money Chill in The Bank
So, you just found out you have a winning lottery ticket? Before you go to claim your prize, Desbiens advises you to stop, think, and breathe. “Just take a pause and a moment, a real moment to sort of figure out what just happened,” he said. The Exponent Investment Management advisor says that based on feedback from his clients who have won the lot...
Where not to leave your ticket: 1. In your car 2. In your wallet (which is easy to misplace) 3. Somewhere in your house (where it could also easily be misplaced) Desbiens recommends opening a safety deposit box at your bank and stashing the ticket there until you have a plan and are ready to claim the prize. It may sound extreme, but if you’re the ...
After you’ve come to terms with the life-changing win, and have hidden your ticket, you may want to call all of your friends and family to give them the good news. Desbiens advises that you resist the temptation to do this. “I think that’s a very important piece of the puzzle,” he explained. “Until you’re actually ready to deal with it, I would kee...
Desbiens says the next step is to meet with a financial advisor, lawyer, accountant, or all three if you have access to them. He highly recommends that you draw up a short-, medium-, and long-term financial plan even before claiming your prize (which you can claim at any time). This might include a gifting strategy, investments, and a retirement pl...
Once you’ve claimed your prize, and have done all of the necessary PR for the provincial lottery commission (which can be anything from an article onlineto a video on Instagram), you can kiss your anonymity goodbye. This is why Desbiens advises winners to change their contact information like phone numbers, emails, and social media if they can. He ...
The first thing you should do after you collect your winnings is immediately deposit them in the bank. After that, Desbiens actually recommends that you refrain from taking any immediate, big financial actions. He says that banks will probably insist you meet the branch manager, or specialists, but stresses that they won’t have your interests in mi...
- Isabelle Docto
Do you take the lump sum or the annuity paid out over time? How much will you give to charity, friends and family? First things first, according to experts: Keep your mouth shut.
Three long-time friends and former co-workers are celebrating their big lottery win together after taking home a $50 million Lotto 6/49 Gold Ball jackpot win. The trio also made history with their windfall, landing the first Gold Ball win not just in Alberta but for all of the Prairies, too.
The winner, who will be the recipient of the biggest jackpot in Mega Millions history, can receive a lump sum of $783.3 million in cash. But what should you do if you find yourself holding...
People also ask
Who won a $50 million Lotto 6/49 gold ball?
What should you do if you win a $70 million jackpot?
How much money did three friends make from a lottery win?
What should I do with my lottery winnings?
Feb 7, 2024 · In Calgary, three long-time friends and former colleagues are celebrating an incredible stroke of luck, each pocketing a staggering $16.6 million from a massive $50-million Lotto 6-49 win.
