This could have been a great thread if OP had said $50k instead of $1 million.
This could have been a great thread if OP had said $50k instead of $1 million.
The troll giveaway for me was the part about nobody else knowing.
The News with Brian Williams wrote:
Jumba wrote:8/10 for introducing a family conflict into this already-creative troll post.
No. This is a true 10/10. His use of "autonomously" instead of "anonymously" is that little touch most trolls miss. Bravo.
2/10
Autonomous killed it for me. I would have been 99% sure it was fake without that detail. Now I'm 100% positive. I like my trolls leaving a sliver of doubt as to whether they're trolling.
Lotteries don't let you collect anonomously, the dude that rigged the powerball tried that. They wouldn't let him. His attempt to collect anonomously triggered the investigation that landed him in prison.
anonomously isn't the right word either.
Doesn't matter what you decide to do about this small issue. If you are dumb enough to ask for advice on Letsrun, you'll eventually blow all the money, anyways. Enjoy it while you have it!
If he 'just found out' it had to be the Powerball winner in California for $279 million. No other recent lottery winners were for more than $50 million lump sum ($5 mil was less than 10%, he said.)
However, that winner has not collected yet. Also, California requires winners to be identified.
Not true. Most states lottery winners are a matter of public record but certain states let you collect without disclosing your name
Why not create a contest among the cousins, with payouts going to the victors? Since they are lazy, you can pick achievements which they have little chance of achieving and see how motivated they get (like running a 2:47 marathon within a year). It may provide some entertainment value for you. Of course, you would have to be very clear on the rules and have them in writing up front, so that the losers do not try to sue you.
Psycho-logist wrote:
Why not create a contest among the cousins, with payouts going to the victors? Since they are lazy, you can pick achievements which they have little chance of achieving and see how motivated they get (like running a 2:47 marathon within a year). It may provide some entertainment value for you. Of course, you would have to be very clear on the rules and have them in writing up front, so that the losers do not try to sue you.
Good idea! Let them fight each other. Reward them for the best knock out, the best kick to the groin etc. Of course the losing part must get good money for taking a beating.
This sounds a lot like a troll, but just in case, here's my advice.
Winning the lottery really messes up some people's lives. I've heard lots of stories and seen it first hand in one client of mine many years ago.
I'd suggest you read up on this sudden wealth syndrome and you'll be more prepared to handle the things that will come up. People are going to be coming out of the woodwork hitting you up for loans, investments in their business venture, etc. It's really, really hard to say no in some situations.
My suggestion is to hire a fee only CFP and give him/her a portion of the funds to manage. (It might only be a small amount.) Then, when friends/relatives hit you up for money or want you to invest in their business, just say, "I've turned over all my financial decisions surrounding this money to my financial advisor. Here's his card. Tell him you talked to me and that I referred you to him."
Even if you only give this financial advisor a small portion of your funds, his fee could be worth its weight in gold just for getting these hangers-on off your back.
I'm a retired CFP, but I'm still active in a national think-tank of professional financial advisors so I know top professionals in most states. Let me know if you want me to put you in touch with someone in your state you can interview.
BS
Race her for it. Winner take all.
I say no wrote:
So I just won a sizeable chunk of money in the lottery - took lump sum payout. I bought the ticket and collected autonomously through an attorney. I told my wife and obviously she is very happy. But she wants to give 1 million each to 5 of her cousins because they all promised each other they would give each other a million bucks if one of them ever won the lottery.
You won the lottery, not your wife, and you didn't promise them anything.
I'm firmly against this - these cousins are lazy hangers on that have no drive and made poor life decisions - the thought of giving them money sickens me. Nobody yet knows about the lottery payout. What should I do?
Apparently your wife knows. Tell her you'll share with her, or her cousins but not both. By the way, you'll have very little left after taxes, and most lottery winners are broke a few months later ~~ most of them are exactly like your wife.
I say no wrote:
Don't want to disclose exact amount but the 5 mil is less than 10% of the lump sum. I don't like the idea of dividing in half because my wife will be less responsible with the proceeds. Prefer to put moneys into trusts to control spending and investments.
Do that then, and tell your wife not to tell anyone.
If she does, divorce her immediately.
Never trust a CFP who thinks there's even a remote chance that this is not a troll thread.
I think you are my father. Time to pay up for the last 18 years, DAD!
no one in the last 3 years has one 50M+ anon.
If you wanted to be more believable you should have said under 5 mil - It would have been harder to prove you wrong.
What bullshit and you ended up with over 30 replies.
It's so much money, who really cares. You're going to be set for the rest of your life. Is
You should never have told your wife. Now you are screwed. The best plan would be to leave your wife right now. Did you sign a pre-nup?