Having won a big lottery prize, you might want to keep your winnings private. This will prevent any awkward questions from family members and safety concerns. However, if you really do want to make your winnings public, there are ways to do so.
First, check the state laws of your area. Some states will require a press conference when a winner claims his or her prize. If you do not live in a state that requires a news conference, you can do a search online to learn more about your options.
Then, you’ll want to find a trustworthy investment professional. This person will look out for your best interests and draft a rigorous quantitative financial plan. They’ll also keep your money out of frivolous spending.
Another option is to take a lump sum. Most lottery winners choose this option. It allows you to invest the cash in a variety of ways without worrying about paying taxes.
Depending on your needs, you may choose to share your winnings with friends or family. You can even make a donation to a charity.
Finally, you can choose to be anonymous. Only 11 states allow this. To be anonymous, you must buy your tickets at a different location than your home. And, if you have a common name, you’ll have a much easier time staying a secret.
When you’ve won a huge lottery prize, it can change your life. Your travel plans can change, you may end up doing manual labor on a farm, or you might decide to live on government benefits in the future.