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If I were Filthy Rich
By ___Idkwhatimdoing__
+32 Do I have to get all the things people say?

So idk much about lotteries I’m in my 20’s and have questions hopefully yall can help. Does the winner have to hire a team? Like absolutely have to? For example a lawyer? A trust? A financial advisor? (Idk what else people usually get?)Can someone just go claim their money and get it deposited in however long it takes and be gone without having to hire anyone? Although I am aware lots of people would try to sue you randomly knowing that you have money now? & I’m talking about things like the Powerball/mega millions kinda thing

Recent responses

+42 @Ruthless4u Do you have to? No. Does having experienced professionals help you make things potentially a lot easier? Yes. I’m not a financially savvy person so I would definitely get a team.

+30 @Invest2prosper No, you don’t. But if you value your sanity, health and life, hiring competent qualified estates and trust attorney will enhance rather than detract from you. You should google past lottery winners poor luck and realize much of the poor luck was due to willful actions on their part in enabling destructive behaviors and practices that led to a bad series of outcomes.

+27 @BlueRFR3100 You don't have to get any of that. You can walk in to lottery office and say, "Here's my ticket, give me money." Then you go on your way and live your life. But your life has just changed and you will encounter obstacles and challenges you've never dealt with before. It's one thing if you give a beggar on the street a dollar and he's faking being disabled and/or sick. It's quite another when someone hits you up for a million dollars to help with cancer research. How are you going to make sure that it isn't some big time scam? Bernie Madoff scammed people for years and those were people accustomed to wealth. Are you sure you can spot a fraud? That's why getting trustworthy and competent people to help you is highly recommended.

+17 @CocoaAlmondsRock Managing hundreds of millions of dollars is NOT the same as managing survival levels of cash. It's not even the same as handling $1M or $5M or $10M. Not only would I have a team, I would have a team made up of people experienced with Ultra High Net Worth (UHNW) clients. Not just "wealth managers." UHNW. It's THAT different.

+16 @LPNTed If you were just winning $1m-$5m... You can get away without a team. Should you? No. But certainly once you're talking about $10+m you need help. And when you're talking "cash in hand" of $100m+ you are literally setting yourself up to die broke if you don't have a team.