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Jun 18, 2010 · What should you do if you win $50 million? Everyone wants to win Lotto Max's multi-million dollar prize. Here's how not to blow it if you have the winning number.
- 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.
What to do if you win the lottery? Yes the odds are long but thinking about winning has been cited by many as a stress reducer. Here’s a list of the steps to take before and after you claim your prize: Stop. Think. Breathe. Resist the almost insurmountable urge to call anybody to share the news.
- 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...
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Jun 18, 2021 · A Noellville, Ont., couple won $70 million in February. lf you defy the odds and find yourself with one a winning ticket, Pattie Lovett-Reid, chief financial commentator for CTV News, has some...
Feb 24, 2016 · Two winners are taking home the largest lottery prize in Canadian history today. John Henry, a retired human resources manager from Mississauga, Ont., and Joan Patterson, a rancher from Desboro,...
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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.
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related to: what to do with 50 million dollars in a year list of winners 2020 -We Take a Personalized Approach To Offer You Investment Solutions Focused On Your Future. Let's Create a Financial Strategy To Help Pursue Your Goals & Transform Your Future.
8425 PULSAR PLACE, COLUMBUS, OH · Directions · (614) 880-4817
