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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.
What to do with lottery winnings in Canada. Cue the violins: the answer isn’t to buy a yacht or indulge in daily extravagant dinners. Remember, it’s not uncommon for lottery winners to go back to square one after gambling or frivolously spending away their winnings.
Jun 18, 2021 · Some advice on what to do if you win the $70M Lotto Max prize. Ontario Lottery & Gaming is again seeing record lottery ticket sales, with an estimated $140 million in prizes up for grabs in...
- 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
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.
Apr 21, 2012 · It might be hard to fathom, but even $50 million can run out. If you're lucky enough to win the lottery, here are five things you should actually do with that money. 1. 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.
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Feb 24, 2016 · John Henry, a retired human resources manager from Mississauga, Ont., and Joan Patterson, a rancher from Desboro, Ont., each won the $60-million Lotto Max prize. What do they hope to do with...
