A person who won 600k$ in lottery

[ethereumhunter]

Whatever it is, actually a financial advisor is really needed to manage money properly, especially sudden wins like that make people feel confused about how to use money properly so that it makes someone wasteful and wants to spend it fast, that's why financial advisors are very necessary in this case, considering many once I saw someone winning the lottery wasting his money then he fell into poverty again.

I also personally prefer to spend a little money on a financial advisor so I can know how to manage my money properly and not wastefully, especially since there are so many desires that I want to fulfill in my life, of course, it will be a waste of money if I go the wrong way. I think it's right to pay a small amount of money a financial advisor is no problem as long as the future is secured.

We also don't want to see that money being used for things we don't need, even though we can use that money to prepare the future for our family and children's lives to be better than now. It's everyone's wish to be able to provide the best for their family and ensure that their family can get a better life. So asking for the advice of a financial advisor can be a tool for us to manage or manage the money we get so that the money can be useful for our future and our families.

I will also choose a financial advisor to be able to manage the money so that I can prepare for my family's future. And if that advice from a financial advisor means I have to live, that's fine for me too, because I've been doing it for years, so it's no problem for me. I want to ensure my family gets a better future than me.

It's not bad to get financial advisor because it will help you a lot. It will never be a waste of money hiring a financial advisor if you have that huge amount of money. They will help you to manage it and diversify it. It will also be a stopper for you once you are getting decisive in your spending and decisions. So all in all, I don't think that it is a bad idea to have that.

We have many choices to be able to manage the money we get. For example, we can manage ourselves by making short, medium and long term plans. But if we don't want to be bothered or confused, we can hire a financial advisor to make a plan and we need to follow the steps. Or we can also take the amount of money that we think will be enough for short-term life and save the remaining money for the medium and long term. And we also have to have plans we want to achieve by using that money.

[Negotiation]

They would not need a financial advisor if they had the knowledge to manage their money. But most of them need help managing their finances after getting the money and only buying things they want to have for a long time. They are not interested in preparing for the future so that their lives in the future can change. They are more interested in using the money for now and spending it until there is nothing left because they think they can gamble again to win more money. But if they listen to a financial advisor's advice, they will have creative ideas about how to use their money so that they will not be dependent on gambling and certainly have the income to change their lives for the better.

It's not bad to get financial advisor because it will help you a lot. It will never be a waste of money hiring a financial advisor if you have that huge amount of money. They will help you to manage it and diversify it. It will also be a stopper for you once you are getting decisive in your spending and decisions. So all in all, I don't think that it is a bad idea to have that.

I agree, financial advisors give good advice also if the person is uncomfortable and unable to make the right decisions for themselves then financial advice will probably be valuable to you. A good financial advisor can enable you to achieve your financial goals. A financial planner usually focuses on financial planning and analysis and direct investment advice and or asset management. Finding a professional skilled in your financial specialty with whom you need help will probably make the most sense.

[uneng]

What would you do if one day you won the lottery? What are you planning to buy and who do you want to include in your success?

I would buy a confortable car and invest the rest of the money in properties for rent. 600,000$ is a decent sum of money to acquire about 5 houses or apartments in an universitary city where it's pretty easy to rent, since there is a constant flux of students.

Each rent stays usually around 100$-150$ monthly per student, and it's possible to allocate mors than one on each house, so I guess I could make from 1000$-2250$ monthly with this investment, which is an above average income here where I live.

Sadly, the seller from the story shared on this thread didn't use his merchant and managing skills to make his lottery prize bear fruits like his vegetables garden had been doing for decades...

[Don Pedro Dinero]

I agree, financial advisors give good advice also if the person is uncomfortable and unable to make the right decisions for themselves then financial advice will probably be valuable to you. A good financial advisor can enable you to achieve your financial goals. A financial planner usually focuses on financial planning and analysis and direct investment advice and or asset management. Finding a professional skilled in your financial specialty with whom you need help will probably make the most sense.

There is too much information on the internet today to leave your money in the hands of a financial advisor. You wouldn't be the first to be scammed by one. In Spain there was a very well known case of a famous radio broadcaster who was swindled by his financial advisor.

And it's not worth it if we're talking about amounts like the $600,000 we're talking about in this thread. If you win 100 million euros in the Euromillions you might consider leaving part of it in the hands of an advisor, always keeping an eye on and comparing it with your own investments.

[Taskford]

They would not need a financial advisor if they had the knowledge to manage their money. But most of them need help managing their finances after getting the money and only buying things they want to have for a long time. They are not interested in preparing for the future so that their lives in the future can change. They are more interested in using the money for now and spending it until there is nothing left because they think they can gamble again to win more money. But if they listen to a financial advisor's advice, they will have creative ideas about how to use their money so that they will not be dependent on gambling and certainly have the income to change their lives for the better.

It's not bad to get financial advisor because it will help you a lot. It will never be a waste of money hiring a financial advisor if you have that huge amount of money. They will help you to manage it and diversify it. It will also be a stopper for you once you are getting decisive in your spending and decisions. So all in all, I don't think that it is a bad idea to have that.

I agree, financial advisors give good advice also if the person is uncomfortable and unable to make the right decisions for themselves then financial advice will probably be valuable to you. A good financial advisor can enable you to achieve your financial goals. A financial planner usually focuses on financial planning and analysis and direct investment advice and or asset management. Finding a professional skilled in your financial specialty with whom you need help will probably make the most sense.

But majority think about they are just wasting money for hiring those financial advisor since they also need to pay them. They didn't know that they can be save by those professionals and can help them manage their finances especially if they are the type of guy who act as one day millionaire when they receive a lot of money. For now to many people doesn't know about importance of those particular professional and maybe the lack of financial literacy leads for that outlook.

[freedomgo]

They would not need a financial advisor if they had the knowledge to manage their money. But most of them need help managing their finances after getting the money and only buying things they want to have for a long time. They are not interested in preparing for the future so that their lives in the future can change. They are more interested in using the money for now and spending it until there is nothing left because they think they can gamble again to win more money. But if they listen to a financial advisor's advice, they will have creative ideas about how to use their money so that they will not be dependent on gambling and certainly have the income to change their lives for the better.

It's not bad to get financial advisor because it will help you a lot. It will never be a waste of money hiring a financial advisor if you have that huge amount of money. They will help you to manage it and diversify it. It will also be a stopper for you once you are getting decisive in your spending and decisions. So all in all, I don't think that it is a bad idea to have that.

I agree, financial advisors give good advice also if the person is uncomfortable and unable to make the right decisions for themselves then financial advice will probably be valuable to you. A good financial advisor can enable you to achieve your financial goals. A financial planner usually focuses on financial planning and analysis and direct investment advice and or asset management. Finding a professional skilled in your financial specialty with whom you need help will probably make the most sense.

From the name itself, you already know that it will literally help you that much to win more in life by heeding their advice towards the money that you've won in the lottery. It's totally not a mistake and a waste of money to hire an advisor because it is the other way around unlike what most people think, hence, you are just giving yourself more chance to make more money from their experience. Some may say that it's not really needed, and I cannot blame them for that but sooner or later, they will come to think that they should've hired but it's already too late because it is already lost.

[erep]

But majority think about they are just wasting money for hiring those financial advisor since they also need to pay them. They didn't know that they can be save by those professionals and can help them manage their finances especially if they are the type of guy who act as one day millionaire when they receive a lot of money. For now to many people doesn't know about importance of those particular professional and maybe the lack of financial literacy leads for that outlook.

The millionaire gambler class needs financial advisors for better financial management to avoid using high funds for gambling, financial advisors will diversify your finances to limit the allocation of gambling funds and they will plan to use investment funds for passive profit. The function of having a personal financial advisor can help manage finances wiser to use funds for investments that are beneficial for the future, but you need to know that their work is not focused on dealing with gambling problems because they cannot control gambler behavior, if gamblers are already experiencing an addiction to impulsive gambling then having a personal financial advisor will not be beneficial for financial management.

[Oilacris]

But majority think about they are just wasting money for hiring those financial advisor since they also need to pay them. They didn't know that they can be save by those professionals and can help them manage their finances especially if they are the type of guy who act as one day millionaire when they receive a lot of money. For now to many people doesn't know about importance of those particular professional and maybe the lack of financial literacy leads for that outlook.

The millionaire gambler class needs financial advisors for better financial management to avoid using high funds for gambling, financial advisors will diversify your finances to limit the allocation of gambling funds and they will plan to use investment funds for passive profit. The function of having a personal financial advisor can help manage finances wiser to use funds for investments that are beneficial for the future, but you need to know that their work is not focused on dealing with gambling problems because they cannot control gambler behavior, if gamblers are already experiencing an addiction to impulsive gambling then having a personal financial advisor will not be beneficial for financial management.

You wont really be needing one if you are really just that sensible on what you are doing or the things that you should really be prioritizing. Its impossible that it wont really be coming into your mind on

having investment with those money specially if you do know and wary that its not something permanent.Therefore, you should really be that wise on spending it or else, you would really be looking yourself on going back into the previous life that you do have before. This amount might really be that looking so just small or just not that life changing on first world countries but if you do live on countries which are developing or simply called 3rd world then this amount would already be that life changing and could totally be changed forever if you are really that sensible towards on making
it on good use or good application via investment.

Well, each person does have their own approach on things on which they would really be that not minding on the time that they do get a hold of these amounts. The main priority into their mind
is to buy the things that they havent bought before which this would be the primary thing which it isnt really that shocking.

[Pierre 2]

As many others stated here its best to avoid talking about your lottery win. People wouldn't care about your status and they will only try to exploit you. I would personally only hand money to my close family and maybe 1-2 close friends at most. On the other of course 600k usd is not unlimited money. Its not like 600 million dollars. You should be very careful using it. I would try to create stable income investments if I had 600k dollars...

[GigaBit]

In short, he became a victim of people who were arrogant towards others. And in an instant, his luck gradually disappeared as if he had become a withered vegetable, at the beginning he was happy with his success and the large amount of money he won. But with the passage of time and expenses careless decisions resulted in the loss of his wealth. he had expensive expenses such as buying a mansion house, cars and other properties.

He also did not invest or plan properly for his future. Instead of having a proper management of his money he had fun and didn't think deeply. This slightly distressed story again shows importance and responsible handling of money. Winning the lottery is no reason to lose financial self-discipline and proper planning. It is important to have proper planning for the future to avoid. such situations.

There are many gamblers who change their behavior the moment they win big. A kind of arrogance works among those gamblers. They do not think about taking any decisions. They revert back to their previous state of affairs to guide those gamblers into gambling. Those who fail to retain money after winning a large sum of money like the lottery do not have good future. If they cannot correct their mistakes then they cannot progress much in the long gambling life. A gambler must plan. Of course it is important for a gambler to have a proper plan.

[o48o]

If there is one thing that a person who won a lottery, he should step away from the crowd. Because for sure there will be free loader, all your families and relatives will be at your doorsteps every day. And if you refuse to help, they will say that you are arrogant and because of money, you have change a lot.

On the other hand, if you give everyone, then what will be left of you? That's why it's better to just get out of that block and just disappear for good, just saying. Sometimes it is the curse of winning in lottery.

Believe it or not, statistics show 70% of lottery winners end up broke and a third go on to declare bankruptcy, according to the National Endowment for Financial Education. Runaway spending, toxic investments and poor accounting can burn through a lucrative windfall in next to no time. From (relative) rags to riches then back to rags again, read on for the stories of the lottery winners who found this out the hard way. All dollar values in US dollars.

https://www.lovemoney.com/galleries/64958/lottery-winners-who-won-millions-but-ended-up-with-nothing?page=1

What would i do? Let's assume that i would win that €600k, which would be tax free where i live and used local lottery. But 600k isn't going to last for too long here, as everything costs a lot anyway if i just spend it, so i would invest it. Some to crypto, some to stocks.

I most likely wouldn't buy house, because good ones would end up costing more then renting them. But i might rent a place from better location, nothing too fancy. And i would tell only to few closest friends that are not asking money from me. That's it. free €600k would change some things in my life, but i wouldn't consider myself rich. Maybe wealthy enough that i wouldn't need to worry about money.

[Westinhome]

What would i do? Let's assume that i would win that €600k, which would be tax free where i live and used local lottery. But 600k isn't going to last for too long here, as everything costs a lot anyway if i just spend it, so i would invest it. Some to crypto, some to stocks.

I most likely wouldn't buy house, because good ones would end up costing more then renting them. But i might rent a place from better location, nothing too fancy. And i would tell only to few closest friends that are not asking money from me. That's it. free €600k would change some things in my life, but i wouldn't consider myself rich. Maybe wealthy enough that i wouldn't need to worry about money.

Mostly the local lottery had deposit to the bank directly,the bank will pay the taxes to the government.Then the bank will approach with you some interest based Fixed deposit into their bank.Mostly you get accepted the loan interest,because the money was in the safest platform and you get the monthly interest for the money is impressive one.The better option is hold fifty percentage of winning money to the cryptocurrency investment.Because the fifty percentage of 300k will help you to double the money again in the crypto investment.So you may increase the totally money to 900k which is not at all possible in any other investments.Money is the needed one to the world richest person for their generation.The world richest person will not stop their business after his first position.

[Taskford]

But majority think about they are just wasting money for hiring those financial advisor since they also need to pay them. They didn't know that they can be save by those professionals and can help them manage their finances especially if they are the type of guy who act as one day millionaire when they receive a lot of money. For now to many people doesn't know about importance of those particular professional and maybe the lack of financial literacy leads for that outlook.

The millionaire gambler class needs financial advisors for better financial management to avoid using high funds for gambling, financial advisors will diversify your finances to limit the allocation of gambling funds and they will plan to use investment funds for passive profit. The function of having a personal financial advisor can help manage finances wiser to use funds for investments that are beneficial for the future, but you need to know that their work is not focused on dealing with gambling problems because they cannot control gambler behavior, if gamblers are already experiencing an addiction to impulsive gambling then having a personal financial advisor will not be beneficial for financial management.

For millionaires for sure they have people working on that since they need professional to manage their finances. But for people who became instant millionaire doesn't have that and this is the reason why some or majority of them got broke since they end up wasting all their money for nonsense thing. If they just acquired such people who's working on that field for sure they will never spend so fast and always aware if they use there money on right thing or not.

[maydna]

For millionaires for sure they have people working on that since they need professional to manage their finances. But for people who became instant millionaire doesn't have that and this is the reason why some or majority of them got broke since they end up wasting all their money for nonsense thing. If they just acquired such people who's working on that field for sure they will never spend so fast and always aware if they use there money on right thing or not.

That doesn't need to happen if the people who become instant millionaires can allocate the winning money to the right places, such as saving it in a bank or buying investments in gold, land, houses, or other investments. And some have done it with their winnings to prepare well for their children's future. They also use part of the winning money for their daily lives and open new businesses such as restaurants or mini markets to earn even more income. Such people are good at managing their finances; it is only a matter of time before they see their businesses grow and make more money. And that's what people who earn their winnings from the lottery should do.

[stomachgrowls]

But majority think about they are just wasting money for hiring those financial advisor since they also need to pay them. They didn't know that they can be save by those professionals and can help them manage their finances especially if they are the type of guy who act as one day millionaire when they receive a lot of money. For now to many people doesn't know about importance of those particular professional and maybe the lack of financial literacy leads for that outlook.

The millionaire gambler class needs financial advisors for better financial management to avoid using high funds for gambling, financial advisors will diversify your finances to limit the allocation of gambling funds and they will plan to use investment funds for passive profit. The function of having a personal financial advisor can help manage finances wiser to use funds for investments that are beneficial for the future, but you need to know that their work is not focused on dealing with gambling problems because they cannot control gambler behavior, if gamblers are already experiencing an addiction to impulsive gambling then having a personal financial advisor will not be beneficial for financial management.

For millionaires for sure they have people working on that since they need professional to manage their finances. But for people who became instant millionaire doesn't have that and this is the reason why some or majority of them got broke since they end up wasting all their money for nonsense thing. If they just acquired such people who's working on that field for sure they will never spend so fast and always aware if they use there money on right thing or not.

Not all but majority of them would really be spending up those money without having proper planning on which it would really be leading for them to be broke again in few years time or a specific period of time if they arent

that wise in comes with their finances.As i said, on which there would be those people that would really be mindful about their spending on which despite on having those financial advisors, with just using up with their own
common sense on which they do really be able to apply or make use of those funds on the right way on which it is really that something that is wise to do so if you dont have plans on going back into your previous life.
There are really just that people who do keep prioritization on things which is mostly that the havent been able to experience on their entire life.This is why they do make out such action.

We might not be talking about millions on here but $600k is still a significant amount which someone could really be able to start up some with investment and businesses on which it is really just that ideal on making these amounts to be put up on a good and more worth way as possible.

[AmoreJaz]

For millionaires for sure they have people working on that since they need professional to manage their finances. But for people who became instant millionaire doesn't have that and this is the reason why some or majority of them got broke since they end up wasting all their money for nonsense thing. If they just acquired such people who's working on that field for sure they will never spend so fast and always aware if they use there money on right thing or not.

That doesn't need to happen if the people who become instant millionaires can allocate the winning money to the right places, such as saving it in a bank or buying investments in gold, land, houses, or other investments. And some have done it with their winnings to prepare well for their children's future. They also use part of the winning money for their daily lives and open new businesses such as restaurants or mini markets to earn even more income. Such people are good at managing their finances; it is only a matter of time before they see their businesses grow and make more money. And that's what people who earn their winnings from the lottery should do.

you can't expect all winners to traverse such path. some are overwhelmed by the money on their hands, hence, spending it to whatever they see they feel is good for them. they will only regret once they see the vault is going empty. this is the usual mistake of a lot of people who won the first time in their lives. but if they will smart about, no matter how much winnings they have, small or big, it can possibly change their life for the better.

[maydna]

~snip~

you can't expect all winners to traverse such path. some are overwhelmed by the money on their hands, hence, spending it to whatever they see they feel is good for them. they will only regret once they see the vault is going empty. this is the usual mistake of a lot of people who won the first time in their lives. but if they will smart about, no matter how much winnings they have, small or big, it can possibly change their life for the better.

It's not possible because many people who can win a lot of money still need clarification about how they use the money. They don't think about the future but only use their money for momentary gratification, which they can only get quickly. While their lives are still going on, if they allocate their money wrong, their lives will not be able to change and will probably return to how it was before when they couldn't win a lot of money. That is why they have to really manage the winning money as well as possible so that it can be used for their future.

[retreat]

-snip-
I agree, financial advisors give good advice also if the person is uncomfortable and unable to make the right decisions for themselves then financial advice will probably be valuable to you. A good financial advisor can enable you to achieve your financial goals. A financial planner usually focuses on financial planning and analysis and direct investment advice and or asset management. Finding a professional skilled in your financial specialty with whom you need help will probably make the most sense.

But not all financial advisors are good people, sometimes there are financial advisors who give bad recommendations to their customers. In some cases, financial advisors even provide investment recommendations at higher prices with the promise of higher profits in the future, even though the investment is not worth it at all. That's why recruiting financial advisors should not be arbitrary, one must also understand the background and how the financial advisor performs.

[Taskford]

But majority think about they are just wasting money for hiring those financial advisor since they also need to pay them. They didn't know that they can be save by those professionals and can help them manage their finances especially if they are the type of guy who act as one day millionaire when they receive a lot of money. For now to many people doesn't know about importance of those particular professional and maybe the lack of financial literacy leads for that outlook.

The millionaire gambler class needs financial advisors for better financial management to avoid using high funds for gambling, financial advisors will diversify your finances to limit the allocation of gambling funds and they will plan to use investment funds for passive profit. The function of having a personal financial advisor can help manage finances wiser to use funds for investments that are beneficial for the future, but you need to know that their work is not focused on dealing with gambling problems because they cannot control gambler behavior, if gamblers are already experiencing an addiction to impulsive gambling then having a personal financial advisor will not be beneficial for financial management.

For millionaires for sure they have people working on that since they need professional to manage their finances. But for people who became instant millionaire doesn't have that and this is the reason why some or majority of them got broke since they end up wasting all their money for nonsense thing. If they just acquired such people who's working on that field for sure they will never spend so fast and always aware if they use there money on right thing or not.

Not all but majority of them would really be spending up those money without having proper planning on which it would really be leading for them to be broke again in few years time or a specific period of time if they arent

that wise in comes with their finances.As i said, on which there would be those people that would really be mindful about their spending on which despite on having those financial advisors, with just using up with their own
common sense on which they do really be able to apply or make use of those funds on the right way on which it is really that something that is wise to do so if you dont have plans on going back into your previous life.
There are really just that people who do keep prioritization on things which is mostly that the havent been able to experience on their entire life.This is why they do make out such action.

We might not be talking about millions on here but $600k is still a significant amount which someone could really be able to start up some with investment and businesses on which it is really just that ideal on making these amounts to be put up on a good and more worth way as possible.

Just a comparison between those two and the discipline they handle for theirselves to avoid getting broke. Since commonly we can read some stories about lottery winners win a life changing amount who go broke because he didn't handle well his finances since he overspend to much and didn't plan his future for the money he won.

 Just like that it could also happen to the guy who win that $600k so its good that he should hire a financial advisor for short period of time so that he can get a proper advice on everything he do with his money.

[Webetcoins]

I agree, financial advisors give good advice also if the person is uncomfortable and unable to make the right decisions for themselves then financial advice will probably be valuable to you. A good financial advisor can enable you to achieve your financial goals. A financial planner usually focuses on financial planning and analysis and direct investment advice and or asset management. Finding a professional skilled in your financial specialty with whom you need help will probably make the most sense.

There is too much information on the internet today to leave your money in the hands of a financial advisor. You wouldn't be the first to be scammed by one. In Spain there was a very well known case of a famous radio broadcaster who was swindled by his financial advisor.

And it's not worth it if we're talking about amounts like the $600,000 we're talking about in this thread. If you win 100 million euros in the Euromillions you might consider leaving part of it in the hands of an advisor, always keeping an eye on and comparing it with your own investments.

I don't think that's how it works, you don't leave your money into the hands of a financial advisor but you get their services and guidelines in managing your finances where you might be having troubles doing it by your own. So when you hire a financial advisor, they will simply just provide you with suggestions and advice about what you should do with your money and where you should invest and how much you should keep yourself, etc.

It is obviously not a good idea to entrust your money worth more than half a million dollars to someone that you don't know personally, no matter how trusted or good they are with their job, you can't even trust someone close to you these days because an amount that high can change anyone's mind.