RealTalkAJ

I went about answering this question any regular person would do and googled it.

The immediate answer I got was:

1. Establish proof that it’s your ticket. … 
2. Keep it on the down low. … 
3. Hire a team of professionals to manage your money. … 
4. Don’t accept the prize money right away. … 
5. Don’t hand out cash to family and friends. … 
6. Don’t forget about all those taxes. … 
7. Set a budget.

So instead of saying I’m gonna do exactly what the popular advice is I’m gonna share my perspective on each point.

Establish the proof

Establishing proof is a no brainer in this case because it validates the legitimacy of me being a winner.

There won’t be any refuting about the money I’m entitled to.

Everything will be a green light about moving forward with the next process and I’ll be one step closer to getting my funds.

Keep it on the low

For anybody that’s not sure what this phrase means it’s to keep it a secret.

Personally I’d put an asterisk on this step because there’s cases where that’s the best thing to do but if you’re around good people then there’s nothing to worry about.

I wouldn’t broadcast to everybody you come in contact with about your win because it’s just unnecessary.

One saying that comes to mind with this is if you got something good and wanna keep it then have it remain a secret.

It just points to how much weight you’re putting into this instant gratitude.

Completely your choice.

Hire professional money managers

This is when things start to get fun with deciding if you wanna start adding more people into your pot.

If you understand that you’re not good with money then it might be in your best interest to hire a professional.

I personally wouldn’t see the need to hire one because of the training I’ve put myself when it comes to money I’ve earned.

One of the strongest disciplines that I exercise whenever possible is taking a specific amount off the top of what I make to start a savings.

Call it arrogance if you want but I say it’s confidence.

If there’s an amount that you practice on saving every time you earn then you should always have money.

The money spent then could be spent strategically but you won’t feel bad after you make your purchases.

Don’t accept prize money right away

This might be the advice that I disagree with the most.

Because if you don’t accept it then it’s not your money yet.

It’s cut and dry here.

We wouldn’t even be talking about this if we didn’t get the money.

That’s probably rule number one when it comes to money here.

Always take the money.

There’s nuances of course where you might not want to take the money.

Maybe you might have a previous debt that needs to be taken care of first.

Whatever it is will be satisfied after you have the money if that’s actually in your plans to handle.

It’s really a character situation you have to address here with being confident enough to handle the money.

Don’t get scared out of the very thing you want.

Don’t share your money with family or friends

Here’s another topic that might come with a controversial take but I’ll address it regardless.

Telling someone not to share your money with family or friends might need an asterisk here too.

There’s always a scenario that plays out where that’s the right thing to do.

Blindly sharing your money could be your greatest asset or financial pit.

It’s a real blessing to be one with your money.

That’s always gonna be true but it should never be given away at the expense of your own life.

That also applies to family.

Everybody might share a different view of their family or even who they call loved ones.

I don’t subscribe to the idea that just because you share blood with someone means you’re forever indebted.

There comes a time when you become the captain of your own boat.

You make the decisions with your money that shapes your life for the rest of it.

If you find a happy balance between doing things from the kindness of your heart and keeping it business then that should prove to serve you best.

Can’t forget about your taxes

This is probably the section I’m least familiar with.

What I can say confidently though is that taxes get collected one way or another.

Whenever you make a purchase it gets added to the total.

One thing I’d recommend you just keep in mind is that there’s gonna be a tax on whatever you earn legally.

So if you remember that then it won’t be a surprise because it’ll happen either way.

Setting a budget with your earnings

Budgeting is a grey term as I like to call it.

I see it as where if you start off with saving all your earnings same way as you get taxed when you spend then it won’t be an issue.

You can get a head start and start dream building with how you plan on consistently spending your money after you get it.

But overall if you’re only thinking about budgeting after you get money then you won’t spend it freely.

That takes all the fun out of having money in the first place.

Remember that you either deal with the pain of discipline or regret.

And that’s all I have to say about this.

Final thoughts

This started off with determining what I would do if I win the lottery.

I might have went on a couple tangents but my direct response to the question as a whole is build.

I’ll be building an even better situation from the money I earned because it’ll be spent.

If I set myself up in a way that continues to earn money then that win will turn into a bigger one.

That’s my response.