'I'm money expert ‘Mrs Dow Jones’ - SIX things to do if you win the lottery'
"Take pics and make copies of it first, and then stick it in a safety deposit box in the bank."Now it's time to "build your team", she says, because "you're a rich person now, and rich people love having help".
Mrs Dow Jones advises: "Get a lawyer to claim your winnings through a blind trust so you avoid any press."A professional money expert can help you with estate planning and investing.She recommends investing at least half the winnings in low cost index funds.The accountant can help with tax issues and giving money to family and charities.
She adds: "If you do all this you'll be in the one per cent instead of the 70 per cent of lottery winners who go bankrupt."For instance, UK lottery rules allow winners to stay anonymous if they choose to have no publicity.TikTok users loved the advice but some pointed out the flaws.Another said: "Get two teams. One that will handle the financial information and an independent one that audits the first team.
But another said: "That's a lot of people to pay. I'll just put it in the bank and continue life as normal."One TikTok viewer said: "Wait, if you delete your social media don't you think that will alert your friends and family that something has changed?"Last week another TikTok finance whizz shared his tips onIn particular he has advice for winners in the US who have a choice of a lump sum or payments spread over 30 years.
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