If you won the lottery what is the first thing you would do?

@Ferric67 For what?

@Notladylike there are lawyers who specialize in asset protection/preservation specifically for lottery winners...because, people who win lotteries don't understand how to handle this new found wealth as far as understanding proper taxation and allocation of it.
This is a major reason why people often go broke shortly after winning.
If you don't know what you're doing you can easily without understanding how or why get double taxed

@Ferric67 Yeah that’s interesting I’ve heard that before about them going broke. Makes sense to get some help.

@Ferric67 I read an article that described winners pretty much as you do. According to what I was reading like 98% of lottery winners are worse off within a few years than they were before winning. They buy everything they ever wanted, thinking the money will last them a lifetime. Then they are broke but still need to pay taxes on the properties bought and wind up losing everything.

@Ferric67 Yes, one needs good planners.

But a lot of people have zero number sense and think of "a MILLION dollars" as the same as "an INFINITE amount of money".

@Roadsterrider Verrrry easy to land yourself in a financial prison

@Ferric67 yeah the lawyer takes all the money

@candycane that can definitely happen too, so my word of advice, pick wisely