Financial Lessons from Lottery Winners

  Рет қаралды 80,425

Leading Edge Financial Planning

Leading Edge Financial Planning

Күн бұрын

Пікірлер: 106
@suhasghaskadvi
@suhasghaskadvi 3 жыл бұрын
consider lottery as capital and not as cash flow. use capital to generate cash flow and live on cash flow only.
@lilacheart6584
@lilacheart6584 2 жыл бұрын
I agree wholeheartedly
@A_Sen_0
@A_Sen_0 Жыл бұрын
1st win a lottery 😂😂😂
@stifbabu1557
@stifbabu1557 3 жыл бұрын
I am ready to receive the abundance of money from Universe. God bless you all. Love from Greece.
@webbmoney2618
@webbmoney2618 3 жыл бұрын
Good luck I hope you do!
@peggystaub2755
@peggystaub2755 2 жыл бұрын
Thank-you .....love n smiles from Canada
@newbie8156
@newbie8156 2 жыл бұрын
Amen.
@marquisford9583
@marquisford9583 Жыл бұрын
It's Your in today in this moment in forever more
@stifbabu1557
@stifbabu1557 Жыл бұрын
@Marquis Ford For you as well friend .Have a blessed Easter 🐣 🙏 ✨️ 💖
@lorrainefisher7361
@lorrainefisher7361 3 жыл бұрын
Rule #1 - STOP GIVING A CRAP ABOUT WHAT OTHER PEOPLE THINK! Live below your means, invest and make your money work for you. All these people who have gone bankrupt have been too busy focusing on material crap and “look at me, look at what I have” stupidness. There is no reason whatsoever a lottery winner should lose it all. Don’t make it known, stop giving handouts to everyone that asks and get professional help through financial planning, tax lawyers and investment advice. Makes me crazy when I hear about this, when so many people are living paycheque to paycheque.
@KatarinaGirl
@KatarinaGirl Жыл бұрын
Brilliant remarks. Keeping quiet about your winnings is HUGE. In other words, Shut Up About It!. Seriously, don't even tell your closest relatives. Family is the first to hit you up and their EXPECTATIONS WILL BE A LOT. So once your tax accountant and advisors are on board, you can then decide what and who you want to support. Go SLOW. Get used to having money. Take your time. The first things you can do is pay off your immediate bills such as your house and credit cards. Again, no need to go brag about it. Nobody needs to know. Smart people stay quiet and they stay safe. Then gracefully and prudently move forward from there to secure your funds. As Lorraine has commented above, live below your means. It doesn't mean you can't upgrade, but do it prudently. When family and friends realize you have large money, it can often change your whole relationship. People can act funny, or jealous, or angry. You may find over time you have to upgrade your friends. The less anyone knows about you and your finances, the better! Here's a really good guide: kzbin.info/www/bejne/Z6mWl4GQftR-erMsi=N32LC8sCnvyrymBR
@introvert4everfreddy656
@introvert4everfreddy656 Жыл бұрын
Amen to that 🙏
@bootsy7843
@bootsy7843 6 ай бұрын
Facts 👍🏽🤔
@LeahIsHereNow
@LeahIsHereNow 5 ай бұрын
There’s a happy medium. There’s no reason why someone who had a Ford Festiva should now have a Bentley and a driver. That’s crazy.
@TheMerryPrangster
@TheMerryPrangster 4 ай бұрын
Ok
@yirehmiyahmagsayo361
@yirehmiyahmagsayo361 3 жыл бұрын
winning the lottery, you can buy your needs in many years, if you spend on normal spending in daily life, not buying very expensive cars, houses, just live mormally, play lotto games in your whole life...live simple life, and invest oneslf in health and self education, and education
@kaheemdey317
@kaheemdey317 3 жыл бұрын
Thanks for the lesson bro one day I'm going to win the lotto and I'll do the same thing
@realasscracka
@realasscracka 2 жыл бұрын
No I like having a nice house and my Ferrari… The union pension will pay for a lifetime
@dayneholt4149
@dayneholt4149 Жыл бұрын
Win the lottery, you can afford anything you need. Not everything you want. 😊
@2020Bookworm
@2020Bookworm Жыл бұрын
New money could learn a few lessons from old money.
@webbmoney2618
@webbmoney2618 3 жыл бұрын
Love these lessons, they should definitely give free advice like this to all lottery winners so they don't blow all their money!
@bdcochran01
@bdcochran01 2 ай бұрын
I am a schlub.Same car 20 years later. Same house 44 years later. 1. the all new house two doors down is under contract. The listing price was $6,230,000! My house? Move in condition. No maintenance needs to be done for 5 years. Constructed in 1950. 2. I walk through the neighborhood - Rivan car, Teslas, BMWs, Range Rovers. I had the driver's seat and the headliner redone on my car last month. Ordering new struts tomorrow. The car is absolutely clean. Charlie Munger lived 99 years. He lived in the house he bought in 1958. My uncle died in Los Angeles at age 97 years. He lived in the same house he built in 1928! He added on when he had two kids.
@GSAlchemy
@GSAlchemy Жыл бұрын
I respect the honesty in this video. You’ve gained a subscriber in me.
@michelleannor6944
@michelleannor6944 4 жыл бұрын
I suspect more winners nowadays are wising up on financial planning and investments. They've seen previous winners go broke, bankruptcy etc. They've watched these kind of videos and seek a lawyer, CPA, financial planner and advisors.
@natashadickson4819
@natashadickson4819 8 ай бұрын
One third go bankrupt. That means the majority don't go bankrupt.
@ull893
@ull893 3 жыл бұрын
No emotional decisions 🤑💖. Take your time.
@aisha-3857
@aisha-3857 2 жыл бұрын
Thank you! I appreciate it! I will definitely take this advice as a new millionaire!
@Jana-x1n5h
@Jana-x1n5h 11 ай бұрын
How many of the winners know how to bank the money? What bank to deposit it, how many different accounts to set up, what kind of insurance to buy to protect the winnings against loss?
@hardevsingh6079
@hardevsingh6079 Жыл бұрын
Thanks for your advice 🎉
@671-u6c
@671-u6c 3 жыл бұрын
Outstanding Advice 👏🏼👏🏼
@dixongecko8018
@dixongecko8018 3 жыл бұрын
I play the Euromillions but only once a month as a tease to myself. I have an outlaid plan of what I would do with the money, how much interest would be taxed annually, an idea of what I would invest in (private reptile zoo/breeding facility) and which charities I would donate too after overheads and staff wages. Admittedly I would probably live quite humbly, in my one bedroom flat. I did not have the best start in life and had to drop out of education, I would likely invest some of it into going back into study, just to say I have accomplished something myself in life. It is important to really think about what your going to do. Hire an accountant and business advisor. Work with them to forefill your dream and they will help you.
@EveBrocart
@EveBrocart 3 жыл бұрын
Thank you for your honesty and for not pushing stock Am sure you make a great adviser
@MD-gv1rl
@MD-gv1rl 2 жыл бұрын
I am ready to receive my abundance ❤
@marinnisu5665
@marinnisu5665 3 ай бұрын
Thank you so much 🙏
@matthewmadeit5477
@matthewmadeit5477 Жыл бұрын
Thanks for the advice.🙌🏾
@jayakumarramachandran733
@jayakumarramachandran733 3 жыл бұрын
Appreciate your sincere advice. Thanks
@jacquelynrobbins2643
@jacquelynrobbins2643 3 жыл бұрын
A believer of good things to come 😌! #GOD SIGN 7777E! I'm the next Georgia 🇬🇪lottery 🇬🇪winner! Be wise with your 🙌 Blessing!
@pgro12849
@pgro12849 3 жыл бұрын
With my 10 million it will double , I plan on buying a condo for just 350,000 and plan on getting just a nice Benz 2021 gle coupe .. investing almost all of my winning to build business credit will be my best friend .. credit is where it’s at .. I plan on becoming a private bank
@akkunaeigenmann9676
@akkunaeigenmann9676 3 жыл бұрын
Amen.
@realasscracka
@realasscracka 3 жыл бұрын
being wealthy is not easy.. many decision's on stewardship. and maintenance on a Ferrari is not cheap
@pgro12849
@pgro12849 3 жыл бұрын
@@realasscracka nobody denying that .. exactly why I said my benz! Credit and interest is where it’s at appreciate your comment
@jweezy216
@jweezy216 3 жыл бұрын
@@realasscracka who said ANYTHING about a Ferrari ?? What was your point of this comment ? ....
@stifbabu1557
@stifbabu1557 3 жыл бұрын
May you achieve your goals girl.
@caceejay686
@caceejay686 2 жыл бұрын
I don’t know why I have just trust this man with my life after 1 video🤣 once I win I will probably hire him
@LovingIdaho
@LovingIdaho 3 жыл бұрын
And lottery winner I know say financial advisors made them loose money .
@bartserra187
@bartserra187 3 жыл бұрын
Go shopping? 😳😳😳😳😳 Got the point? . Do not hire the first or second one!
@rya3888
@rya3888 3 жыл бұрын
Yes i think so but i don't have enough business experience what should i do?
@hothotheat3000
@hothotheat3000 3 жыл бұрын
Slow down, lock the money up, and keep your mouth shut.
@troyward5545
@troyward5545 2 жыл бұрын
Amen Thank You God I'm Ready 🙏🙌😇🪐
@NITRONITRA
@NITRONITRA Жыл бұрын
Thank you
@lisathomas1622
@lisathomas1622 Жыл бұрын
I’d definitely get professional help and be on a budget. Invest, diversify, untaxed accounts and taxed. Trusts for the kids. An LLC? I’m not worried, I have access to trustworthy help. My dream is to get small apartments in a few places. Travel. I don’t care about a house. I’m going to all the places I can. I love the Earth and it’s awesome beautiful beings.
@RAMCO840
@RAMCO840 4 жыл бұрын
In case someday in Chicago, someone hits a big jackpot. Are your services be able to come to the city of Chicago? To help a multi million lottery jackpot winner.
@johnnunez6940
@johnnunez6940 3 жыл бұрын
Eating rice n beans...😆 Funny, but true some time...😁👍
@deadcell1
@deadcell1 3 жыл бұрын
When you get paid and have extra money at the end of the month and the only thing you can think of is how to spend it then you are already in a bad place. If you're bad with money when you are poor you're going to be bad with money if you come upon sudden wealth.
@robbylafont
@robbylafont 2 жыл бұрын
If I won 30 million (after taxes), I’d put half in safe t bills or something like it….the other half would go into a savings account….I’d buy a million dollar house outright….and a sailboat….the interest of the half that was put in T-bills (or similar investment) would not be touched….after about a year…I’d live off the interest of the savings and the safe investment accounts….you could get a nice house and nice cars and live very comfortably this way….I think where most lottery winners lose is giving to others or frivolous lawsuits…
@andywright3680
@andywright3680 8 ай бұрын
I was fortunate enough to be lucky in the lottery but have not changed my lifestyle with fancy cars i invested wisely live of the returns and still shop at walmart and dollar tree and invest in my health and gratitude and all the blessings
@Davidvictor6
@Davidvictor6 3 ай бұрын
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?
@Beckylouis-c4c
@Beckylouis-c4c 3 ай бұрын
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k
@Soniajohn4
@Soniajohn4 3 ай бұрын
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation
@Beckylouis-c4c
@Beckylouis-c4c 3 ай бұрын
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@Soniajohn4
@Soniajohn4 3 ай бұрын
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
@moedogg30
@moedogg30 Жыл бұрын
I don’t care what other people have or keeping up with the Jones’s 🤦‍♂️ this is weak way of thinking my focus is to win and make my life and family life little better that’s all.
@allieb7757
@allieb7757 3 жыл бұрын
I will be eating rice & beans no matter how much money comes my way. That's my food lol. And I want to live a long, healthy life.
@ripzzzz
@ripzzzz Жыл бұрын
You are going to eat more than Rice and Beans if you want to be Healthy add some Green Salad with the millions you win
@bug3474
@bug3474 4 ай бұрын
Are you located in the US?
@zanejohnson5327
@zanejohnson5327 2 жыл бұрын
When I win I will definitely consider your company.
@skywilliams323
@skywilliams323 2 жыл бұрын
When I win the Mega millions can I call you guys?
@quartytypo
@quartytypo 5 ай бұрын
Every time a lottery winner spends $1 of their winnings their winnings go down by $1.
@RECKLESS1957
@RECKLESS1957 11 ай бұрын
Where is your company located, and how long have you been in business?
@Rosesraspberries72
@Rosesraspberries72 3 жыл бұрын
I’ve heard that the best bet is to sit on it for a year before you spend any of it.. and in that year you’ll be use to sitting in that “money” energy. And in that first year you’ll change your mind many times about what you “think” you need, but then you’ll see sense. Anyway I wouldn’t like to win that big, a cool $ 5 mill would suit me. And I won’t be getting the jabber dabber, so that cuts out all holidays 😂😂😂
@A_Sen_0
@A_Sen_0 Жыл бұрын
If u born in a developed nation u already hit lottery
@kimberlyvalentino506
@kimberlyvalentino506 2 жыл бұрын
And renting an apartment you’re never ever going to see this money ever again what you’re doing is you’re paying the mortgage for the owner of that apartment
@KatarinaGirl
@KatarinaGirl Жыл бұрын
So true. Just buy a house that fits your needs. It can be simple, but own the home. Then set up a fund that generates enough to always pay the annual taxes for the house.
@MethRx99
@MethRx99 Ай бұрын
Ok, I understand the points made about spending... Also, the ideas related to keeping things as quiet as possible... still though, could a person have a family trust or LLC claim the lottery money... and file a personal bankruptcy... just to be able to say that you no longer have any money... though it's simply in a trust account instead? Why? So a person can live without fear of kidnappings especially when traveling abroad.
@mandojusadguru4184
@mandojusadguru4184 3 жыл бұрын
Hi sir I am Germany Keno lottery playing but guesting numbers very hard solution please sir
@karenthompson1539
@karenthompson1539 Жыл бұрын
Thou shalt not covet thy neighbor's new car, house, or apparel etc...
@straycat1674
@straycat1674 10 ай бұрын
Listen, when you’re struggling or just have a normal life and suddenly you come into wealth, you don’t have a clue what to do. Most people don’t understand how quickly even $10 million can be blown. What they see is a large sum of cash and what they think is that they’re going to be able to spend and they’re gonna know when they’ve spent too much and when they should stop. But most don’t. Because they don’t have a clue on how to manage that kind of cash. And there’s no shame in it, but it is about being smart. It’s about not giving a crap who bags and pleads and what subs story they give you, because 99% of people will bleed you dry If you give him a chance. And the fact of the matter is, there’s no such thing as a lottery curse. Just financial irresponsibility. All they see is those big numbers in their bank account and start envisioning every toy they’ve ever wanted. I think most of these people have bad impulse control.
@dennisscott1192
@dennisscott1192 2 жыл бұрын
Rice and Beans lmao
@KatarinaGirl
@KatarinaGirl Жыл бұрын
We had that today. It was sooooo good!
@hubertfaulk7337
@hubertfaulk7337 2 жыл бұрын
Yes
@benjaminpauldimedio1683
@benjaminpauldimedio1683 6 ай бұрын
Why do people keep talking about taxes they don't owe
@nathancoats6432
@nathancoats6432 Жыл бұрын
I wouldnt do anything with my lottery winnings for at least three years. I would put it in a low risk government bond. I have been driving a beater car for years and I have no desire to drive a brand new vehicle. I dont care what ppl think. I have learned to live off my VA so I have learned to budget and I think I could make it grow no prob. Just act poor. I never trust a smooth talking cause I know better they are the best liars.
@hubertfaulk7337
@hubertfaulk7337 2 жыл бұрын
Hi. I. Will. Keep. All. That. You. Do. Say. In. Mind. 12,27,22, in. God. Eyes. Be. Very. Bless
@skysizzl3
@skysizzl3 Жыл бұрын
🙏🏽
@shannonarmstrong6364
@shannonarmstrong6364 3 жыл бұрын
🤗👌
@tomsmith2361
@tomsmith2361 3 жыл бұрын
🙂✌
@hubertfaulk7337
@hubertfaulk7337 Жыл бұрын
Hi. This. Is. Good. To. No. Be. For. The. Lottery. 4,2,23,
@jeffsnow7749
@jeffsnow7749 Ай бұрын
A fool and his money are soon parted!
@whomeye2168
@whomeye2168 5 ай бұрын
It's sad when people don't know how to handle their blessings. They live way outside their means from a long distance standpoint. Having goals to maintain the new lifestyle is important for longevity. If I had this blessing arrive, I wouldn't publicize it. Then all these "friends" and long lost "relatives" will stroll in with their hands out and a big eager smile. I'd find a reputable financial advisor to give me a class on how to manage everything intelligently. Money can disappear so fast! Just look at the broke a55es who won it and squandered it. I don't understand how in tf people spend over a 100 million bucks and wind up penniless 5 years later! 😮 It's flabbergasting! It pisses me off that people could waste such blessings in the most moronic ways!
@carisowealthy
@carisowealthy 3 жыл бұрын
B#$%@ i eat rice n beans everyday 😫
@lindalai9092
@lindalai9092 3 жыл бұрын
People are stupid.
@jojopinpin3260
@jojopinpin3260 Жыл бұрын
But you still didn't tell me what to do with my money ! Poor video
@hubertfaulk7337
@hubertfaulk7337 Жыл бұрын
Hi. I. Will. Make. Contact. Soon. 4,13,23, & do. Keep. Up. The. Good. Work. That. You. Do. Until,,
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