You just Won the Mega Millions or Power Ball! Now What?

Introduction

Congratulations! You just hit the jackpot. But wait, what do you do now that you’ve won the Mega Millions or Power Ball? Here’s what to expect as soon as you win and how to manage this newfound wealth.

Don’t tell anyone

You might be tempted to tell everyone you know, but don’t.

• Don’t tell your family or friends. News like this can get back to the media, and if they find out it’s because you said someone else first, they’ll want to talk with that person too.
• Don’t tell coworkers or neighbors. The same goes for anyone who might be interviewed by news agencies as part of their reporting on your winnings — keep them in the dark until after the story is over! It’s better not to have any trail leading back to you than to risk having someone say something without meaning to (or meaning nearly enough).
• Don’t tell your boss either — especially if they don’t know how much money was won! This will help ensure that no one gets ahead of themselves before any official announcements are made from lottery officials themselves later down the road when things are settled out more clearly between parties involved with distribution arrangements for large jackpots like these end up being shared out among multiple winners (like there were four others in addition).

Find an attorney

• Get an attorney to help you with the legal side of things. If you don’t have an attorney, you can contact a legal aid society, and they will help find one for you. They’ll also be able to advise on how to handle your new wealth, like helping decide what to do with the money or how much money to pay off in taxes.
• Another option is hiring a lawyer through a legal aid society. You can hire them for as little as $10-$20/hour, depending on which state/city you live in and what kind of help they need from their clients (e.g., whether or not it involves going into court).
• Having a lawyer around will also help prevent any issues from arising that might cause problems later down the road when it comes time for investments or philanthropic endeavors (like anonymous donations).

Find an accountant

If you don’t want to work with an accountant, consider hiring a financial planner. Financial planners tend to be more expensive than accountants because they can offer more personalized advice. However, they are also less likely to make mistakes in their tax filings because they have more time and experience managing money.

Set up a foundation if you want to give away your money

If you want to get your money out there, why not make it a little more fun? You can set up a foundation with your name on it or give money directly to the charity of your choice. If you want to give back and help others, setting up a trust fund for children or grandchildren that require long-term care is an option. Or could you set up a scholarship program in your name? There are plenty of options when it comes to giving back!

Consider investing in yourself and your family

Once you’ve got your Mega Millions or Powerball winnings, you must consider how you want to spend them. Sure, you could live comfortably for the rest of your life off of just a portion of the jackpot—but where’s the fun in that? Instead, I suggest investing in yourself and your family.

• Invest in yourself: If money is no object and learning new skills is an exciting prospect, consider paying for classes at a local community college or online learning platforms like Coursera or Udemy. You can then put those skills to work on projects that are meaningful to you.
• Invest in your family: If the family is essential (and should be), investing as much money as possible into their future well-being should be priority number one on this list. Whether it means sending kids off to college or helping out parents who need assistance with medical bills or home repairs, ensuring everyone has what they need will help ensure everyone stays happy and healthy today while providing them with opportunities for success tomorrow.

Create a budget so you can budget for expenses and saving/investing

The first step in financial planning is to create a detailed budget, including all the monthly expenses you pay. You should include everything you spend money on, such as rent or mortgage payments, groceries, and gas for your car. Then add up all those totals and divide by four (or however many weeks there are in a month). This gives you an average figure for how much money comes in each week. For other expenses like entertainment and travel, take note of these costs so they can be factored into your budget.

A budget can help ensure your spending stays within reasonable limits while allowing room for fun activities like dining out or shopping with friends. It also makes it easier to plan when saving up for big purchases such as home improvements or college tuition fees; knowing how much money will be coming in each month gives financial planners time to set aside funds accordingly without having their plans disrupted by unexpected expenses occurring at inopportune times like Christmas shopping season!

Change your phone number and email address

Now that you’ve won a lot of money, it’s time to get your affairs in order. One of the first things you should do is change your phone number and email address.

You’ll want to ensure that no one knows these new contact details; if they do, then spam will be coming your way for years. So make sure no one can find out where you live or how to reach you!

If people want to contact them about anything—whether it’s an interview with CNN or just something as simple as selling insurance—don’t give them any information!

It’s always good to have a plan for large amounts of money!

Having a plan for your newfound wealth is essential. This could mean anything from investing in a business to securing a trust fund to distributing the funds over time. You’ll want to make sure you avoid making rash decisions detrimental to your financial future, such as squandering all of your money on frivolous purchases and then being unable to sustain yourself financially—not pleasant!

It’s also vital that you protect yourself from scammers and thieves trying to take advantage of your sudden influx of money by convincing you they can help manage it better than anyone else or by simply assuming what doesn’t belong to them outright.

Conclusion

Again! Congratulations!!! We want you to be prepared to enjoy your winnings and not worry about anything else. The lottery is meant to be fun and exciting, so don’t let us scare you with all these things that could go wrong! Have a plan, invest in yourself, but most importantly – be happy!