Seriously OP, make up some kind of reason to justify your ability to move out and get a car. Like a job far away. Do not tell a soul. Seriously. Speak immediately to a financial advisor (maybe even before collecting the funds) so you have a plan in place for making sure this money works to your best advantage. It is a statistical fact that MOST lotto winners are poor/bankrupt within a few years due to lavish purchases and over sharing. It can damage relationships with people close to you who will call in favours and view you as selfish if you don’t agree to help them. Please OP, no joke, take the advice and don’t tell a soul. Get yourself an affordable home that you can sustain on average wages and a reliable car but beyond that take the advice of your financial advisor on wise investment options because $1 million is not enough to never work again. At all. But if you really want it to change your life use it to get away from your family and set yourself up for success.
Don’t tell a soul except your financial advisor. Just move out, you don’t need a reason…narcissists will try to make you stay even if they don’t know about the money just to have someone to control.
CONGRATULATIONS!! Good luck!
Exactly this. I wouldn’t tell a soul, if Ops parents are really that terrible. Best to pack all your shit, and get a ticket across the country. Mail your folks a postcard along the way “I am ok. I have moved out. Have a good life”.
>…narcissists will try to make you stay
This.
I have heard too many stories of people trying to pull catharsis or closure out of narc parents only to have their savings stolen or been beaten or held against their will.
ALSO OPEN A BRAND NEW ACCOUNT NO ONE CAN REACH BUT YOU.
1 million after taxes would be 600k-700k. If that was put in the S&P500 you can generate 60k - 70k a year. If used right 1 million can definitely be life changing money. Pair that with a stable job and you could let that money grow exponentially.
This is the way.
This is not a mountain of cash to spend.
This is a mountain of cash to grow further and give you further income.
Research the FIRE community
If you withdraw 70k/year off of 700k principal, you will run out of money during a downturn. With a 4% withdrawal rate, you're unlikely likely to run out of principal, but it's only 28k/year.
Yeah, that’s why I said not to withdraw and to live on your own salary, just let it accumulate. One day when it’s accumulated enough you can get a nice house and a nice car or possibly afford retirement.
So two things: the actual money received on one batch is far less then a million and Then the government takes like 40% of that. Honestly they’ll be lucky to take home 300-400k at the end.
A little addon to this discreetly gather up you important documents (birth certificate, passport etc) and store them somewhere safe out of the house if possible and also dont forget the no publicity when you do claim you don't want people accidentally finding out.
OP If you need fake job offer I’m sure a few people could help you. With relocation assistance, and a 5k moving stipend.
Set yourself up in a new city and get a part time job somewhere you like enough and look for a full time job doing what you want. Try a new food at least once every couple weeks as a way to get to know your new home but without blowing your cover.
OP isn't hiding from the cartel or something, pretty sure they don't need to do all that? Just move and find a job....like why would they have to hide out and worry about not "blowing their cover", they're an adult and can move without telling their family where they're going.
You’ve clearly never had a narcissist as a parent or sibling.
The first thing out of their mouth will be how OP need to help them out because ____. And when OP tries to put up boundaries they trample all over them. Guilt, manipulation, long term grudges.
I’m glad you don’t have that experience.
So true, my FIL’s brother was awarded almost 200k (after taxes) after a car crash, his wife spent 30k on Amazon and he had 2 old friends guilt him into buying a car for them both in the first year. The money lasted them 2 years.
Edit: a mistake in wording
Have a lawyer accept it. Not legal in all states. Tell nobody until you have things in check mentally and financially. Taxes and things man. Congratulations but a million opens up moves not lifestyle changes.
That last part! Say it louder for the ppl in the back: “a million opens up moves, NOT lifestyle changes” . A million can become $1.5 million in the right hands but also $0.5 million in the wrong hands
Given their current situation, sounds like moving out will be a massive lifestyle change.
Edit: you’re points are spot on, just wanted to give a little perspective to OPs stated situation. Getting out of a terribly toxic home will likely change their life and lifestyle for the better, but making sure they have a conservative plan is going to be key.
There was also a high profile incident where a guy had a winning ticket but the store they went to had rigged the machine so it didn’t play any “winner” music. The clerk told the guy that he didn’t win and kept the ticket himself. He then later gave the ticket to a family member to redeem for the money. It was found out somehow and a big lengthy investigation happened where they even got his security tapes showing when he bought the ticket, because the OLG has records for each ticket as to when and where it was bought. He eventually did get his money.
Also a word to the wise. If you are in an office pool, make sure it is done right and not by the seat of someone’s pants.
Make a form that at the top lists “accounting dept. group lottery” or something. Maybe put down how much each member is to contribute “$5/week” and anything to note.
Then have a place for everyone’s name who is in the group, and have them sign beside it.
If at any time someone wants to leave or join, make a new list of names and get everyone to re-sign and inform everyone “John is now in the group”
Make sure anyone in the group understands that this is a weekly thing. We had one guy who would say “hey ! Add me to the lottery group this week”
We said no. You are either in the group or not, we don’t allow people to just toss on $5 Willy nilly. That sets you up for shit like “oh you won $50 million? But I was going to be part of it that week. No one came and told me you were collecting. I’ve done it before!!!” Whatever. You’re on the list or you are not.
We also had a rule that I’d you were away from the office for any reason. Sick, vacation, business trip etc. you were still part of the group and any winnings even if you didn’t pay that week. But another rule can be paying in advance if possible.
If you have a group lottery pool. Make sure it’s well organized because if you win, other employees will try to claim that they were part of the group for sure.
It was a raffle type thing where she wrote her name and wrote down his name too 'for luck' or something and then at the office to collect she went off yelling mad that it all should be hers and she is going to sue him. She was shitty.
The grandma bought the ticket for the kid and put both their names on it when it won big she wanted all the $$ and said something like "I'm going to sue his little ass that money is mine" from what I remember she didn't have much of a leg to stand on trying to sue him.
Get a financial advisor to help you make this money last. I don't know how much it'll be after taxes but it'll be enough to pay dividends for the rest of your life if you let it. If it we're me I would never touch the principle and spend the interest.
Shit I’d get a lawyer, OP just in case..think you can afford it now lol
And of course congratulations! Sure..buy a car and maybe even a house but don’t go TOO crazy. Spend responsibly and be sure that if you’re going to blow it, you’ll spend it on something that will still benefit you when the moneys gone!
Edit: oh ya..anyway you could send me $100 for this great advice? Honestly, I usually charge $250 but you seem like a nice guy so figured I’d help you out!
/s….unless you really want to.
OP buy the house but make payments. **Compound interest is what you want to live on.** 10% of a million is $100K a year. So after taxes $50-75K a year. Learn to live on that. If you buy a house, a car, & take a trip in 10 years you have an old car, memories and house that needs work/taxes paid and maybe you don't have that.
You may still need to work. But you can learn/train for something you enjoy. (I would recommended it, if only to keep people asking how you live and even if it's not the best paying you job you will be comfortable and staying ahead of inflation.)
Don’t tell anyone
If you bank at the same branch as your parents, open an account at a completely different bank.
Ask your bank for a financial advisor. They will generally point you to that banks products but it’s a safe place to start
Find a job and move out. Out of state if possible.
Keep working. Don’t buy anything until you have a job. If you get a car, make it a 20 year old one.
Edit
Get a PO Box and have all mail go there. Otherwise you will be found out.
/edit
1 million is a lot but it won’t be enough for the rest of your life. You can party and it will be gone in 2 years or you can tuck it away and let it grow. Take a small amount to make your life more comfortable (2% would be 20k/year) but otherwise, your moneys job is to make more money.
Congrats! Now be quiet.
All of this. My dad is a financial advisor and has shared horror stories of people who either won money or inherited it and immediately they quit their jobs and spent it all.
My girlfriends friend recently got 10k from a lawsuit and within a month it was gone and started asking my girlfriend for money.
She spent it on stupid things. Bought a guy she liked a brand new gaming console, bought her friends weed and alcohol, new phone. It's honestly shocking that people aren't smart about that kind of thing. Money is hard to come by especially now.
Yeah, 10k is a lot of money, but it's really not at the same time. I mean, I could do quite a bit with it, but I'm assuming she either got a brand new iPhone, or brand new top of the line Android, either of which can be $1,000+. I know 10k would be gone in about a month, if I won/inherited it, but I'd pay off at least one of my smaller debts, then get a new old stove and some drywall to fix some areas we needed to cut open to fix leaks, and then *maybe* put a down payment on an old car.
Yeah, I'd like to think I would. But honestly, there's also a chance I'd buy both my kids a PS5 too. That's like $1,600 down the drain 🤣 And I'd basically be paying the price of a PS5 for a PS4 because I get my son's 4 when I get him the 5. I bought mine (PS4) back in January for $18!! It's super loud, and can be annoying at times, but for $18 I can't complain.
Don't get a 20 year old car as this person suggested. That just sounds dangerous. Get a car that you are able to get checked out for issues, because if you don't have a lot of experience you don't want to have to be watching out for car issues.
This! Hubby and I bought a house, but it's not under my name because we know my n parents will ask for money and show unannounced at our home.
If you're still in contact with them (or a mutual friend/relative is relaying info back to them), be especially careful not to make any showy, lavish purchases.
omfg i finally stopped making that mistake because every time i would share the good news on a getting a raise and promotion my mom would immediately try to make up things that I owe her money for.
Hey man, congratulations! Treat yourself, but be carefull with your money. A million is a lot, but if youre not careful itll burn out like a candle. Also stay alert, on who knows this and make sure you’re safe! Congrats again, sounds like you really deserve it!
0. TELL NOONE ABOUT THIS
1. Sign the ticket.
2. Get a fiduciary financial advisor
3. TELL NO ONE ABOUT THIS
4. Hire a ĺawyer
5. Claim the ticket
6. TELL NO ONE ABOUT THIS
7. Tell everyone you are moving to jersey because you found a job there.
8. Plan your move
9. TELL NOONE ABOUT THIS
10. Move to anyplace BUT jersey
11. Change you number and bounce
Congratulations on this once and a lifetime opportunity I wish you freedom and great luck.
Edit to correct wording and spelling. AWWWW thanks for the awards.
DO NOT SIGN THE TICKET BEFORE RETAINING A LAWYER.
Depending on your state/country you may be able to claim the winnings as a blind trust and lower your tax burden while remaining anonymous.
That's awesome, congrats! If you can get away with not telling anyone in your life about it you'll be better off I think. Hopefully they won't publish your name
Too many lottery winners become a cautionary tale for others. I'd consult with a lawyer and a financial advisor on how to protect your money and invest the bulk of it wisely. You're young, a million isn't enough to sustain you for long, but with wise investment you can grow your money for the future.
Living in NY you're gonna pay a lot of that in taxes. Try not to let the money go to your head. Advice from a random stranger is make a practical list of things that would make a major benefit to your life and then find a cost effective way of getting that. E.G., need a car, get a used Honda or Toyota instead of a new Tesla. Be practical and it will go a long way. DON'T GIVE AWAY ANY OF IT. People are about to tug on your heartstrings and make no mistake, they're trying to manipulate you.
This. Rich people aren’t rich because they blow money on every stupid thing.
My FIL has a fair bit of money. But he will penny pinch wherever he can and is always looking for deals.
I agree with you on everything except the used car. OP has the kind of money to buy a new car without paying interest, and they should absolutely do that. Repairs cost money, too, so if you can afford new it's probably more bang for your buck over time since it's a while before serious repairs kick in, and then you have something much more reliable. It was 6 years before I needed to replace anything besides tires on my car I bought new, great peace of mind. Still agree a Tesla would be overkill though.
Get a certified used. I agree like a 2020, or anything w low miles.
New cars are a waste of $ even for the very wealthy, they often buy used bc that’s how they stay rich is not by letting $ fly out right & left…
Which a million bucks (minus taxes) isn’t very wealthy.
The used car market is trash right now. For $1-2k more you might as well buy a new one and take full advantage of the warranties and service plans that come with them, without worrying about how someone else may have neglected the car.
Seriously. I work at a used car dealership and it’s insane how much some - actually nearly all - of our cars sell for! The most I’ve spent on a car is $8300. And that’s the car I still am driving ~12 years later. If I were to spend that much on one of our cars at the dealership, holy moly would I be getting something way less reliable/older/higher miles/etc…
I would honestly spend what I had to stay in a hotel and move your essentials into that and tell your parents your moving or just wait until they leave. Once you’re settled into a hotel . Claim the money. Stay there and move the fuck away. Start searching for apartments. Talk to some people . Look into a year lease that you can pay up for the whole year. Until you know if you wanna buy a house or anything. Work on your school . Be responsible. Tell no one and just get your ducks in a row. Treat yourself to a car. Be smart about furniture you may buy. I’m saying this because I won a good lump sum too and I took it slow and am still reaping the benefits with a hefty savings. I didn’t go crazy . The money was needed so I can be more stable so I used the money for STABILITY . that’s important to remember and important to tell yourself . “THIS MONEY WILL HELP ME GET STABLE, IT IS NOT ENOUGH FOR ME TO BE SET FOR LIFE. AND IF IM NOT CAREFUL, I WILL RUN OUT” …. First thing I did when I claimed it was get a new phone and phone number…. Went to an ice cream shop bought a notebook and wrote out how it could make me stable.
If OP takes my advice. It can definitely last. Only lavish thing I did with my money was take 2 months off once I got my apartment and everything settled and really searched for a job that I would love longevity wise. Went on a mini vacation. But still put more than 50% of my winnings in savings. It was a breath of fresh air to be comfortable and stable. OP can do it. She will just need to get a handle on desperation. Sometimes when you’ve been thirsty for water for so long that when you finally get it, you drink it fast and get light headed and before you know it, it’s gone. If you take it slow and drink as much as you need for the day, then you will have enough water until you run into some more. OP I am here for advice if needed.
I can’t take credit for it. The only person I ever told when I won (before I claimed the check) was my nanny who basically raised me and helped me escape my abusive family situation. she gave me that advice. she’s no longer with me but I still hold it dear. I definitely thanked her once I got it. She’s the one who suggested the ice cream . I had neurotic parents and was a professional dancer and could never have ice cream. I did that day and life has been blissful since. Minus not having her.
Very nice advice and I think it’s dope you’re offering your advice and things. Good humans doing good human things is pretty cool. Thanks for being here and also super cool on you for spending and thinking so wisely. That mindset is everything in this situation!!!!
I offer advice because I understand the need to indulge your urge when your eyes pop out with dollar signs. But realistically that’s not a lot of money and she’s young and people telling her to buy a house is not sound advice because she’s still in school and she has no idea what she may want to do after she graduates. (Not sure of the gender so apologies if it’s wrong). So I don’t think that’s a smart move. But she has the ability to live very comfortably for her school years and do what she wants . She has to just stay calm and think and she will be ok.
I came into a similar sum of money a few years ago. BUY A HOUSE!!! Invest in property. Don’t tell a single soul! You wouldn’t believe the people who come out of the woodworks to ask for money when they know you have it.
I would give you gold, but I’m poor.Help me out?
JUST KIDDING.
DONT TELL A SOUL AND INVEST THAT MONEY. Or a big portion of it. You’re not rich. A million can disappear easily. Get the basics you need to live comfortably (using as little as possible) and invest the rest. I would seek the advice of a fiduciary.
Also, CONGRATS! You deserve it! I don’t know you but I’m genuinely happy for you.
Congrats dude! Your life can totally turn for the better more easily now. Few things to remember though.
1. Like all the comments are saying, Do not tell anyone. The moment one person finds out they tell others and everyone starts coming out of the woods to ask for a little piece and it adds up. There will be so much guilting and victimizing. Keep it to yourself.
2. Find a financial planner immediately. This money can be a great boon so finding someone to help guide you financially can be invaluable. They are just a guide though, YOU are the decision maker in the end. Don't let any of them tell you differently.
3. The best way to make money is owning things. Owning your own store or stocks or land. Always keep an eye out for undervalued assets. It takes money to make money.
4. Best of luck! Money is a tricky concept and bad investments are not uncommon so don't put all your eggs in one basket. I'm glad you won. You seem like you have a good heart and a nice head on your shoulders.
Buy a house, remember to save for taxes and don’t lend or gift money. A million dollars isn’t retirement money specially if you’re young. Be smart don’t quit working. And I hope you have a comfortable happy life.
Hello, I work in a lottery store in a different state. Please SING YOUR TICKET! Also, even if it is going to cost money, go see a lawyer. Make a strategy to move out and get on your own feet. $1k here and there eventually add up. Find a financial advisor to help you make this last in the long run too.
Happy winnings.
As a personal note, if you are living in a toxic environment, therapy is fantastic and might help a lot with any potential traumas you might have collected along the way.
Have a fabulous night
If you haven’t finished school, transfer to somewhere out of state, finish school relax, at your time. And for the love of god don’t tell anybody.
If you have finished school, move out to a big city you want a look for a job. Honestly. 1MM after capital gains taxes, depending on where you live js going to be like 500-560k. That’s not a lot but is something to remove youreself as far aways as possible from your situation. Come up with an excuse “i’m going to live with a friend” and get out of dodge
Do not tell anyone. A million is not enough. Collect the money, find a financial advisor so you don't end up spending everything at one go, and if anyone asks, just say you got a new job so you can spend on some things now
When my mother died I got $41k in one lump sum. It was gone within a year because my boyfriend knew I had money and depression sucks. Don't tell anyone. Don't let people borrow money from you, or tell you sob stories (that's how I lost about 6k to "good friends").
I'm very happy for your good fortune, I hope people don't take advantage of you like had happened with me.
OP do not let anyone know about this. People will ask bet and even come after you for it. Don’t flex don’t live lavishly and save as much as possible don’t let the money ruin you as it ruins so many. You have a wonderful lord, finish school, and find an awesome job and enjoy it bro.
Congrats! Don’t tell anyone especially your parents! Also there’s this lawyer on tiktok who has a series on what to do if you win the lottery def worth checking out. He’s legit. His @ is haseeblegal and just incase there’s a typo and you can’t find him search lottery lawyer. But pls check it out!
You can spend this money a lot faster than you think. If you're careful with it, it can absolutely change the rest of your life. But if you're not careful, you can easily blow it all in less than a year and end up back where you started.
Most people who suddenly get a lot of money don't know how to mange it well, and they spend it so quickly that they end up in debt. Most new NFL players end up in massive debt.
A million dollars is not infinite. Please budget carefully, because most people don't realize how quickly it can disappear.
Congratulations! DO NOT TELL ANYONE! In fact, moved just “far enough” from your family in order to keep suspicions minimal.
I hope the prize will provide you with the jump start that you need.
I’d move far away and live quietly. Too many times I hear lottery people feel like their relationships are ruined because now family and friends suddenly say you owe them money. Someone said that their mom asked them for all the money they spent on raising them back and their friends were all of a sudden making a list of how much money they owe them back + interest. I would seriously consider just not saying a word about the money. Live comfortably + quietly with no stress. Invest and get some help from a. Financial advisor. Open up a Roth ira and make sure you look into good quality cars that’ll last you a long time.
Get a financial advisor NOW. Make sure they're a fiduciary so they're legally obligated to have your best interests. Most of that money needs to be invested, and you'll set yourself up for an early retirement, but for the time being keep living your life as is. Get a cheap car, don't show off the wealth, and don't tell your parents if the situation there is bad.
Assuming this is real, you should contact someone who can help you manage this money.
Don't worry about the small stuff. Think big. After taxes this will be "no longer worried about money" for the rest of your life assuming you invest it properly.
I work with people who fall into the "new money" category all the time. By all means, you can keep a chunk of change to make your immediate well-being more stable, but before you touch any money, you should consider reaching out to a wealth management company to see how you can turn this from a lump sum $500k payment into a lifelong yearly stipend to pad out your income.
You can't retire on this much money, but you can certainly plan for a future where you no longer have to work. If nothing else, you can have someone manage it, pull an extra $15k per year in interest to increase your quality of life, and just live like normal.
That extra $15k is a huge deal for most people. So don't mess this up and buy a house or something. Let the money managers take their % and ensure that you can guarantee income for the rest of your life. It will be worth it in the end.
Also, congrats!
Once you’re settled, invest the rest of that money into an S&P500 index fund!! The market is down right now! Perfect time to buy! Imagine after taxes and you take that 1 time lump sum that if you settle down with a new car and a new apartment and still had $250,000 left. If the market hits all time highs again, you would’ve made $50k!
Move to Nebraska. By a moderate house and a car. Put $100k in a Roth IRA. Get a job. Get residency. Go to a state school. Make friends. Take care of your mental health. Live a normal life, just with a little economical boost to start.
Live a good life and be kind to yourself and others (but don’t give your money away). Congratulations!
First, don’t think of it as a million. After taxes you’ll get about half I think.
Don’t tell anyone. You’ve got money now, but not enough to go buying boats and stuff.
Plan out how to use it with a financial expert. Being able to build up a nice savings while trying to get your life sorted out is a huge thing.
Congrats.
Don’t buy a new car. You need to stay under the radar. A new car when you’ve been unemployed will cause all kind of questions you don’t want to answer.
Congrats!! Be aware that most people who win the lottery are broke again in a few years because they didn’t learn to manage the money correctly. It would be well in your interest to take a few classes on finance and use this to pull you out of your bad situation and continue to have your money work for you for the rest of your life! I agree with several other comments that tell you to not tell anyone about it. Be smart and be safe. Best of luck!
Def keep looking for a job. This is a boost, not a ride. The fun part though is that you get to look for a job while also being able to look at modest housing and transportation!
Buy a house .not a crazy extravagant house. A normal one , buy a normal car , then take the rest of your money and make it work for you . Dividend stocks. Don't tell anyone about this. People will come out the woodworks to take from you .
Congratulations, OP!! I'm super-mega-fucking happy for you and I'm glad that you won that money. Here's the thing, though: Don't let it get to your head so much that you burn through all cash easily and fast. Think twice, think good. Also like someone else here said, DO NOT TELL ANYONE IN YOUR DAILY LIFE ABOUT THIS MONEY. ABSO-FUCKING-LUTELY NO ONE OR IT'LL PROBABLY GET DISASTROUS. Please take care OP, stay safe! This is your moment of luck and I'm very glad that you won!😁👍🏼
(Also, sorry if I used a lot of cursing and sounded rude, it's not my intention)
Invest 90% of it wisely. Don’t tell anyone. But please don’t listen to these people and live the next 20 years like u didn’t win the lottery. Use 10, fuck it, 20% to actually enjoy it
I don't know you but I am so fucking happy for you, stay the course, do not tell anyone, do talk to a financial advisor, yay get far far away from your parents, and now you can afford it, get therapy, so you are an expert boundry setter, ...... enjoy your life!
I was literally in your situation until I started working a month ago. You living my dream budd! Best of luck to you and BE SMART WITH YOUR MONEY! And don’t tell anyone not even your parents. Just say you got offered a new job out of town and move-out without telling a soul you won the lottery
I advise getting a job and trying to live off only that income and figure out how to put the winnings to work for you. If you're constantly increasing your net worth from this point you'll never worry about money again.
It’s amazing and uplifting to read everyone’s genuine concern and advice for you, OP. Wishing you the very best in this new chapter. Cheers to better days ahead! :)
I hear narc parents. 🤢
Just make them kick you out, find a simple apartment far away from them.
Finish school and find a nice apartment.
Congratulations OP ❤️❤️ You can end your abuse cycle now
First of all sign the ticket. Don't tell a soul you won. You need to find a competent trustworthy accountant. A million dollars is not that much money after taxes you'll probably see about 600,000. Still you can blow that in a heartbeat. If you can in new york, claim the money anonymously. Don't buy a house or something crazy like that out right, I would rent. Take your time, look around you might not even want to live where you are right now New York's expensive. You said you went to school if you graduated then obviously apply a job anywhere. But after sign the ticket if you haven't already, I guess go down to the lottery office with what you need you need identification I'm sure, maybe a SS card, I guess you can call the lottery office and find out what the procedure is. Just make sure no one overhears you on the phone. The minute they know you have some money they're going to try and get it out of you. If for some weird chance your parents are on your bank account go open the new account. You can have all the money just deposited it into a checking account if you wanted to but you need to break it up cuz I think accounts are only guaranteed up to 100,000. But in reality you should probably Bank a minimum of half of it in terms of retirement fund or a Roth IRA but that's something you need to talk to an accountant about preferably a CPA. You need someone who knows what they're doing. If you haven't finished school then finish it up and look forward to a nice bright future. Move out as soon as you can get your own apartment, just tell your family you found a cheap place and you're out of there . I wouldn't give the address though . get yourself a car it doesn't have to be new but you can definitely afford the new car now. And good luck.
Just remember 1 million can be gone very quickly. And don’t tell a soul. It’s a lot of money but needs to be invested wisely so it can grow for you! I would hire a financial advisor. Buy conservatively if you’re considering property and continue working to pay property taxes the rest, you need to invest
From checking online USA has taxes of 24% on winnings over a million. So you're looking at 760k. Not bad mate! I wouldn't tell anyone tho, rent a modest flat, get an ok car and live off your wages from your job and use the lottery money to fall back on.
Everyone in reddit is telling you "DO NOT TELL ANYONE." do that. That is number one for you. There is also reddit post on what do if you win; like get yourself a lawyer (to secure and save guard your financies) and change or get private phone number. Do **not** use your money to buy a house or new cars. **Rent stuff**, you will save money because ONE million dollars is a bucket with a hole. Get yourself a part time job that you can choose your own time/vacation time; this is so you can ground yourself and meet good people. Do not make just "rich" friends. Lots of "rich people" only want and are satisfied by normal/comfortable life while being **thrifty**. If anyone asks what your job is, tell them your a **private contractor** and if they ask for details tell then can't due to an **NDA**. Being rich is achieve freedom and independence. To find what you love and not be bothered by family drama or any jackass that thinks that they deserve a share of your win. Go to youtube (incognito mode) and be wiser by learning about people who lost their money. Also, this is going to sound a little out there but exercise. You don't have to be super fit or muscled but at least have good cardio and healthy. Indulge on good (gourmet) level food once a week but have fresh or organic food regulary. You now need to live long and fit to enjoy your money. Now, this is very out there; learn some self defense/ martial arts, even just for casual exercise.
Imagine scanning it at the store and it says Winner 1 Million lol! Congratulations! I would get my dream car and probably get a decent spot & adopt a dog if I were you.
Don’t tell anyone bro. Live your life quietly, people will change if they find out you have money and it will suck. Make smart choices tho don’t blow it like an idiot.
To echo everyone, congratulations and do not tell anyone you know about this!!!!!!!! Best advice I could have is to get a financial advisor and set things right for your future. Put at least 50% of your net out earnings into investments and get yourself a place to live, even if it’s a house you don’t buy outright. Good luck in life!😊
Tell no one. Especially not family. Hopefully you can collect it anonymously. Some lottos force you to take a photo with a big cheque that they publicize and it’s not optional. They won’t pay you if you refuse
Edit: I looked it up and it’s mandatory to make your win public in Canada. Fucked up i know
Live like you’re a 10,000-aire. Find a place you like, settle down, buy a nice but not extravagant car, invest conservatively, put yourself through a training program or school for something you’d really like to do. Invest in YOU.
TELL NO ONE YOUR BUSINESS!
Congratulations man! Sounds like it's going to someone in life who needs a leg up which is fantastic. Lots of great advice on here, would recommend checking out /r/personalfinance as it has an FAQ for winfalls and how to handle it. All the best and congratulations again
Don’t invest in anybody’s business idea. Most fail.
Just take it easy and simple in investing. With this amount of cash, you don’t need to take much risk.
I HIGHLY recommend looking for a lawyer/fiduciary and a tax specialist. DON’T talk to family or friends about this. Sign the ticket to lay claim to it and store it in a waterproof container. People are going to line up to get money from you so work with a lawyer to set donation and gift limits so no one can take advantage of you or guilt you into distributing more than you want to. Only once you have these safeguards in place should you disclose this to friends and family. Once word gets out, you will likely get a lot of requests from businesses and acquaintances for money. Give what you want but make sure to focus on you and what you want. Remember, this is your money. Spend it how you see fit and enjoy the ride. Congrats!
[ edit ] - fixed spelling…
Assuming this is true, do not tell anyone. Use the money to get yourself into a safe I dependant position, then speak to a financial advisor and invest asuch of the moneh as you can. Its a great amount of money but won't last your whole life, unless you invest it smartly then it 100% will
First of all, Congratulations. Secondly do not tell a soul. No one. Not even your best friend. There are bloodsuckers everywhere. That money sounds like a lot now but when the bloodsuckers turn up, you will have little or nothing left. Move out, buy an apartment (tell anyone who asks its rented. Buy a car, search for a job but must importantly, give yourself an allowance & save as much as you can. You sound young if you are still with your parents so you need that money to go a long way. Be smart & be comfortable and plan plan plan. You now have some cushion to plan the rest of your life. Good luck.
Congrats man, I hope it really helps you :) Can only repeat what many others have said, but it is worth repeating...
1. DON'T TELL ANYONE - This could really change your life... for the worst!
2. Research "FIRE" (Financial Independence Retire Early)
3. Treat yourself, you sound like you could use it, but don't go crazy. Invest as much as you can which will really change your life... forever!
A million bucks sounds a lot but take out tax, nice house, nice car, holidays etc and before you know it you are back to zero bucks. Invested wisely however (low cost index fund), and it can set you up nicely for the rest of your life!
Good luck, and enjoy! :)
Just an add on to everything everyone else has said, IM SO HAPPY FOR YOU EVEN IF YOURE A STRANGER TO ME. I’m in the exact same position rn without the money so I can understand how much that would change your life. So so happy for you!! 💗
Do not tell anyone by any means. Especially your parents with how you describe them. See if you can possibly talk to a lawyer or a financial person to see about what you can do to stay anon and make this as safe as possible and how to store the money. There have been so many people harmed or killed by loved ones and people they thought were friends after winning such an amount of money.
As everyone here has stated. Do not tell a soul in the world about this money. Use it wisely, set yourself up with a affordable place. This million will look a lot different after taxes, buying a home, and car. Just make sure they’re affordable. Don’t go and buy millionaire versions of these things. You are not one. You are someone struggling who won a million. Please be smart and congratulations
Echoing what everyone else says, do NOT tell your parents. My mother is a full blown narc and when my grandparents were sending me money to help put me through college, she was knocking on my door ALL THE TIME asking for money.
They plan to leave me a decent chunk of change when they’re no longer around and have already told me, “do NOT tell your Mom when that day comes”
It’s sad. But when my mother asks, I’m always “broke”. And you need to do the same. I have watched her DRAIN the bank accounts of every man she’s been in a relationship with using guilt and manipulation. Won’t happen with me.
Holy crap and a half Congrats for real. Enjoy it! Don't let anyone know, the cynic in me sees most people as just vultures. It's yours and your life comes first. Think you can spread some of that luck my way? I mean actual luck not money. With everything going in my life i could use some positivity..
Find a lawyer that will represent and protect you. Because even if you don’t tell anyone EVENTUALLY PEOPLE WILL FIND OUT. They will notice something is different and will start snooping. I don’t know if NY has a law if you don’t have to reveal your identity but that’s what the lawyer is for. I’ve read stories about people blowing their winnings so hopefully you have a plan to make it last.
Congratulations. Take yourself out for a fantastic dinner and enjoy your winnings.
1. Get a financial advisor.
2. Change your phone number.
3. Move out of NY
4. Don’t buy the fanciest newest car. Get something that’s reliable and will last a long time
5. Don’t answer the phone. They will call. They will try to find you.
6. Get a good lawyer. Actually, do this with the first one.
narcissistic parents will do their freeking utmost to guilt you into staying. Helping mom and dad.
You, all of a sudden have a career opportunity in Teejerkastan or somewhere that's inconvientant to travel too.
Don't tell anyone and don't go buying a brand new BMW M8.
Wait until you move to do that.
1. financial advisor....one you pay for.
2. Don't tell anyone.
3. Find a place to move to.
4. Rent first, don't buy.
5. watch who your friends really are. If you tell ANYONE....you're all off a sudden having a plethora of friends......until you're broke. Then they leave you.
Congratulations, I'm happy that you finally have the ability to take care of yourself a bit more comfortable.
I'm so happy for you...but I wouldn't tell anyone certainly not your parents! I'd just pick yourself up and change your life into what you want it to be. Set yourself up for life so you don't have to worry...I wouldn't tell friends either you'd be amazed at how many have no shame about hitting you up for whatever they can get from you. I know it may sound like I'm telling you to be selfish and I am to a certain extent because of everything that you have been through, you now have the chance to make your life and your dreams a reality so do it!!
I'm telling you this because I was in a similar position about 4 years ago and all I could think of was helping the people I loved and paying off all my bills beyond that I had everything I needed...or so I thought!!
4 years later I'm in the middle of a divorce from an extremely narcissistic abusive man and when I asked my friends for help to escape a life threatening situation not a one of the people I GAVE money to could be bothered, in the end it was a virtual stranger who helped me get my life back. But because I trusted abusive husband to pay the bills he only paid the ones with both of our names and 2 years later I found out I'm still 27 grand in debt and broke!!! So take a bit of thoughtful advice from someone who thoughtfully trusted everyone she 😍 loved! Good luck to you and wishing you the very best!
DO NOT TELL ANYONE. AFTER TAXES IT IS NOT CHANGING EVERYONES LIFE MONEY. sounds like the right person won. enjoy it and enjoy your new freedom!
Seriously OP, make up some kind of reason to justify your ability to move out and get a car. Like a job far away. Do not tell a soul. Seriously. Speak immediately to a financial advisor (maybe even before collecting the funds) so you have a plan in place for making sure this money works to your best advantage. It is a statistical fact that MOST lotto winners are poor/bankrupt within a few years due to lavish purchases and over sharing. It can damage relationships with people close to you who will call in favours and view you as selfish if you don’t agree to help them. Please OP, no joke, take the advice and don’t tell a soul. Get yourself an affordable home that you can sustain on average wages and a reliable car but beyond that take the advice of your financial advisor on wise investment options because $1 million is not enough to never work again. At all. But if you really want it to change your life use it to get away from your family and set yourself up for success.
Don’t tell a soul except your financial advisor. Just move out, you don’t need a reason…narcissists will try to make you stay even if they don’t know about the money just to have someone to control. CONGRATULATIONS!! Good luck!
Exactly this. I wouldn’t tell a soul, if Ops parents are really that terrible. Best to pack all your shit, and get a ticket across the country. Mail your folks a postcard along the way “I am ok. I have moved out. Have a good life”.
>…narcissists will try to make you stay This. I have heard too many stories of people trying to pull catharsis or closure out of narc parents only to have their savings stolen or been beaten or held against their will. ALSO OPEN A BRAND NEW ACCOUNT NO ONE CAN REACH BUT YOU.
1 million after taxes would be 600k-700k. If that was put in the S&P500 you can generate 60k - 70k a year. If used right 1 million can definitely be life changing money. Pair that with a stable job and you could let that money grow exponentially.
This is the way. This is not a mountain of cash to spend. This is a mountain of cash to grow further and give you further income. Research the FIRE community
If you withdraw 70k/year off of 700k principal, you will run out of money during a downturn. With a 4% withdrawal rate, you're unlikely likely to run out of principal, but it's only 28k/year.
Yeah, that’s why I said not to withdraw and to live on your own salary, just let it accumulate. One day when it’s accumulated enough you can get a nice house and a nice car or possibly afford retirement.
So two things: the actual money received on one batch is far less then a million and Then the government takes like 40% of that. Honestly they’ll be lucky to take home 300-400k at the end.
A little addon to this discreetly gather up you important documents (birth certificate, passport etc) and store them somewhere safe out of the house if possible and also dont forget the no publicity when you do claim you don't want people accidentally finding out.
A fudiciary, please make sure it is a fudiciary you speak to. Congratulations!
*fiduciary
And the reason why is that a fiduciary is legally obligated to act in your best interest, other financial advisors are not.
[удалено]
Just leave. No excuse or explanation needed
I know right. Why justify anything to a narc? People and their elaborate "found a job in the woods" scenario 😂
OP If you need fake job offer I’m sure a few people could help you. With relocation assistance, and a 5k moving stipend. Set yourself up in a new city and get a part time job somewhere you like enough and look for a full time job doing what you want. Try a new food at least once every couple weeks as a way to get to know your new home but without blowing your cover.
OP isn't hiding from the cartel or something, pretty sure they don't need to do all that? Just move and find a job....like why would they have to hide out and worry about not "blowing their cover", they're an adult and can move without telling their family where they're going.
You’ve clearly never had a narcissist as a parent or sibling. The first thing out of their mouth will be how OP need to help them out because ____. And when OP tries to put up boundaries they trample all over them. Guilt, manipulation, long term grudges. I’m glad you don’t have that experience.
So true, my FIL’s brother was awarded almost 200k (after taxes) after a car crash, his wife spent 30k on Amazon and he had 2 old friends guilt him into buying a car for them both in the first year. The money lasted them 2 years. Edit: a mistake in wording
you can buy cars on Amazon...? am I somehow reading this wrong bc I'm so confused
Also, sign your name on the ticket.
Have a lawyer accept it. Not legal in all states. Tell nobody until you have things in check mentally and financially. Taxes and things man. Congratulations but a million opens up moves not lifestyle changes.
That last part! Say it louder for the ppl in the back: “a million opens up moves, NOT lifestyle changes” . A million can become $1.5 million in the right hands but also $0.5 million in the wrong hands
Given their current situation, sounds like moving out will be a massive lifestyle change. Edit: you’re points are spot on, just wanted to give a little perspective to OPs stated situation. Getting out of a terribly toxic home will likely change their life and lifestyle for the better, but making sure they have a conservative plan is going to be key.
In Ontario, this is now mandatory, for every winning, even a free ticket. Also they recommend you always keep your receipt.
Especially after that Grandma and Grandson incident.
There was also a high profile incident where a guy had a winning ticket but the store they went to had rigged the machine so it didn’t play any “winner” music. The clerk told the guy that he didn’t win and kept the ticket himself. He then later gave the ticket to a family member to redeem for the money. It was found out somehow and a big lengthy investigation happened where they even got his security tapes showing when he bought the ticket, because the OLG has records for each ticket as to when and where it was bought. He eventually did get his money. Also a word to the wise. If you are in an office pool, make sure it is done right and not by the seat of someone’s pants. Make a form that at the top lists “accounting dept. group lottery” or something. Maybe put down how much each member is to contribute “$5/week” and anything to note. Then have a place for everyone’s name who is in the group, and have them sign beside it. If at any time someone wants to leave or join, make a new list of names and get everyone to re-sign and inform everyone “John is now in the group” Make sure anyone in the group understands that this is a weekly thing. We had one guy who would say “hey ! Add me to the lottery group this week” We said no. You are either in the group or not, we don’t allow people to just toss on $5 Willy nilly. That sets you up for shit like “oh you won $50 million? But I was going to be part of it that week. No one came and told me you were collecting. I’ve done it before!!!” Whatever. You’re on the list or you are not. We also had a rule that I’d you were away from the office for any reason. Sick, vacation, business trip etc. you were still part of the group and any winnings even if you didn’t pay that week. But another rule can be paying in advance if possible. If you have a group lottery pool. Make sure it’s well organized because if you win, other employees will try to claim that they were part of the group for sure.
What was that?
It was a raffle type thing where she wrote her name and wrote down his name too 'for luck' or something and then at the office to collect she went off yelling mad that it all should be hers and she is going to sue him. She was shitty.
Oh wow, yikes... Guess he wasn't so lucky in the end lmao, poor grandson. Thanks for the reply!
The grandma bought the ticket for the kid and put both their names on it when it won big she wanted all the $$ and said something like "I'm going to sue his little ass that money is mine" from what I remember she didn't have much of a leg to stand on trying to sue him.
He was half as lucky as she wanted to be
[удалено]
I don't think is mandatory, as far as I remember
This, and also try to invest some of it if you can, more you got in there the more it'll make back. Now if I could just do that myself, ha!
Definitely don't tell your parents
Completely true. people will do ANYTHING and I mean ANYTHING to get "their deserved share" of the money. well done OP and enjoy your newfound riches.
Get a financial advisor to help you make this money last. I don't know how much it'll be after taxes but it'll be enough to pay dividends for the rest of your life if you let it. If it we're me I would never touch the principle and spend the interest.
Hopefully he's in Canada where they don't tax lottery winnings.
Yeah, that would be a lot more money to work with. But he said nylotto which I think is New York lotto.
Shit I’d get a lawyer, OP just in case..think you can afford it now lol And of course congratulations! Sure..buy a car and maybe even a house but don’t go TOO crazy. Spend responsibly and be sure that if you’re going to blow it, you’ll spend it on something that will still benefit you when the moneys gone! Edit: oh ya..anyway you could send me $100 for this great advice? Honestly, I usually charge $250 but you seem like a nice guy so figured I’d help you out! /s….unless you really want to.
OP buy the house but make payments. **Compound interest is what you want to live on.** 10% of a million is $100K a year. So after taxes $50-75K a year. Learn to live on that. If you buy a house, a car, & take a trip in 10 years you have an old car, memories and house that needs work/taxes paid and maybe you don't have that. You may still need to work. But you can learn/train for something you enjoy. (I would recommended it, if only to keep people asking how you live and even if it's not the best paying you job you will be comfortable and staying ahead of inflation.)
Which bank will give you 10% interest? Sorry if I'm misunderstanding something
Don’t tell anyone If you bank at the same branch as your parents, open an account at a completely different bank. Ask your bank for a financial advisor. They will generally point you to that banks products but it’s a safe place to start Find a job and move out. Out of state if possible. Keep working. Don’t buy anything until you have a job. If you get a car, make it a 20 year old one. Edit Get a PO Box and have all mail go there. Otherwise you will be found out. /edit 1 million is a lot but it won’t be enough for the rest of your life. You can party and it will be gone in 2 years or you can tuck it away and let it grow. Take a small amount to make your life more comfortable (2% would be 20k/year) but otherwise, your moneys job is to make more money. Congrats! Now be quiet.
All of this. My dad is a financial advisor and has shared horror stories of people who either won money or inherited it and immediately they quit their jobs and spent it all.
My girlfriends friend recently got 10k from a lawsuit and within a month it was gone and started asking my girlfriend for money. She spent it on stupid things. Bought a guy she liked a brand new gaming console, bought her friends weed and alcohol, new phone. It's honestly shocking that people aren't smart about that kind of thing. Money is hard to come by especially now.
Yeah, 10k is a lot of money, but it's really not at the same time. I mean, I could do quite a bit with it, but I'm assuming she either got a brand new iPhone, or brand new top of the line Android, either of which can be $1,000+. I know 10k would be gone in about a month, if I won/inherited it, but I'd pay off at least one of my smaller debts, then get a new old stove and some drywall to fix some areas we needed to cut open to fix leaks, and then *maybe* put a down payment on an old car.
It sounds like you'd use it responsibly though, which is completely different to what she did.
Yeah, I'd like to think I would. But honestly, there's also a chance I'd buy both my kids a PS5 too. That's like $1,600 down the drain 🤣 And I'd basically be paying the price of a PS5 for a PS4 because I get my son's 4 when I get him the 5. I bought mine (PS4) back in January for $18!! It's super loud, and can be annoying at times, but for $18 I can't complain.
This is what happened to my parents... and now we're suffering due to impulsive, bad choices and lack of critical thinking.
This comment needs to be at the top.
Don't get a 20 year old car as this person suggested. That just sounds dangerous. Get a car that you are able to get checked out for issues, because if you don't have a lot of experience you don't want to have to be watching out for car issues.
this if under 18 wait till you are over 18. to claim it.
Now that I think about it, this all sounds similar in principle to money laundering.
Don’t. Fucking. Tell. Your. Parents. I don’t even tell mine how much I make. My tax return etc. narcs are the worst
This! Hubby and I bought a house, but it's not under my name because we know my n parents will ask for money and show unannounced at our home. If you're still in contact with them (or a mutual friend/relative is relaying info back to them), be especially careful not to make any showy, lavish purchases.
omfg i finally stopped making that mistake because every time i would share the good news on a getting a raise and promotion my mom would immediately try to make up things that I owe her money for.
Hey man, congratulations! Treat yourself, but be carefull with your money. A million is a lot, but if youre not careful itll burn out like a candle. Also stay alert, on who knows this and make sure you’re safe! Congrats again, sounds like you really deserve it!
0. TELL NOONE ABOUT THIS 1. Sign the ticket. 2. Get a fiduciary financial advisor 3. TELL NO ONE ABOUT THIS 4. Hire a ĺawyer 5. Claim the ticket 6. TELL NO ONE ABOUT THIS 7. Tell everyone you are moving to jersey because you found a job there. 8. Plan your move 9. TELL NOONE ABOUT THIS 10. Move to anyplace BUT jersey 11. Change you number and bounce Congratulations on this once and a lifetime opportunity I wish you freedom and great luck. Edit to correct wording and spelling. AWWWW thanks for the awards.
2 - Not just any financial advisor but a fiduciary specifically, they are legally obligated to act in your best interest.
Thanks for that I wasn't aware there was a difference. I have updated my response.
HOW DO I GET INTO CONTACT WITH NOONE!
DO NOT SIGN THE TICKET BEFORE RETAINING A LAWYER. Depending on your state/country you may be able to claim the winnings as a blind trust and lower your tax burden while remaining anonymous.
Do this! ^
That's awesome, congrats! If you can get away with not telling anyone in your life about it you'll be better off I think. Hopefully they won't publish your name
Too many lottery winners become a cautionary tale for others. I'd consult with a lawyer and a financial advisor on how to protect your money and invest the bulk of it wisely. You're young, a million isn't enough to sustain you for long, but with wise investment you can grow your money for the future.
Living in NY you're gonna pay a lot of that in taxes. Try not to let the money go to your head. Advice from a random stranger is make a practical list of things that would make a major benefit to your life and then find a cost effective way of getting that. E.G., need a car, get a used Honda or Toyota instead of a new Tesla. Be practical and it will go a long way. DON'T GIVE AWAY ANY OF IT. People are about to tug on your heartstrings and make no mistake, they're trying to manipulate you.
This. Rich people aren’t rich because they blow money on every stupid thing. My FIL has a fair bit of money. But he will penny pinch wherever he can and is always looking for deals.
I agree with you on everything except the used car. OP has the kind of money to buy a new car without paying interest, and they should absolutely do that. Repairs cost money, too, so if you can afford new it's probably more bang for your buck over time since it's a while before serious repairs kick in, and then you have something much more reliable. It was 6 years before I needed to replace anything besides tires on my car I bought new, great peace of mind. Still agree a Tesla would be overkill though.
Get a certified used. I agree like a 2020, or anything w low miles. New cars are a waste of $ even for the very wealthy, they often buy used bc that’s how they stay rich is not by letting $ fly out right & left… Which a million bucks (minus taxes) isn’t very wealthy.
Agreed. Maybe not a new Tesla but a new 2022 Honda Civic isn't going to fuck up your million dollars.
Still doesnt need to be brand new, just a newer used car. A 2020 vehicle will still be long way from major repairs, but at a much better cost
The used car market is trash right now. For $1-2k more you might as well buy a new one and take full advantage of the warranties and service plans that come with them, without worrying about how someone else may have neglected the car.
Seriously. I work at a used car dealership and it’s insane how much some - actually nearly all - of our cars sell for! The most I’ve spent on a car is $8300. And that’s the car I still am driving ~12 years later. If I were to spend that much on one of our cars at the dealership, holy moly would I be getting something way less reliable/older/higher miles/etc…
I would honestly spend what I had to stay in a hotel and move your essentials into that and tell your parents your moving or just wait until they leave. Once you’re settled into a hotel . Claim the money. Stay there and move the fuck away. Start searching for apartments. Talk to some people . Look into a year lease that you can pay up for the whole year. Until you know if you wanna buy a house or anything. Work on your school . Be responsible. Tell no one and just get your ducks in a row. Treat yourself to a car. Be smart about furniture you may buy. I’m saying this because I won a good lump sum too and I took it slow and am still reaping the benefits with a hefty savings. I didn’t go crazy . The money was needed so I can be more stable so I used the money for STABILITY . that’s important to remember and important to tell yourself . “THIS MONEY WILL HELP ME GET STABLE, IT IS NOT ENOUGH FOR ME TO BE SET FOR LIFE. AND IF IM NOT CAREFUL, I WILL RUN OUT” …. First thing I did when I claimed it was get a new phone and phone number…. Went to an ice cream shop bought a notebook and wrote out how it could make me stable.
This is amazing and I’m stoked for you for doing it this way! Smart smart lad. Also congrats!
If OP takes my advice. It can definitely last. Only lavish thing I did with my money was take 2 months off once I got my apartment and everything settled and really searched for a job that I would love longevity wise. Went on a mini vacation. But still put more than 50% of my winnings in savings. It was a breath of fresh air to be comfortable and stable. OP can do it. She will just need to get a handle on desperation. Sometimes when you’ve been thirsty for water for so long that when you finally get it, you drink it fast and get light headed and before you know it, it’s gone. If you take it slow and drink as much as you need for the day, then you will have enough water until you run into some more. OP I am here for advice if needed.
Loved that water example 🙌
I can’t take credit for it. The only person I ever told when I won (before I claimed the check) was my nanny who basically raised me and helped me escape my abusive family situation. she gave me that advice. she’s no longer with me but I still hold it dear. I definitely thanked her once I got it. She’s the one who suggested the ice cream . I had neurotic parents and was a professional dancer and could never have ice cream. I did that day and life has been blissful since. Minus not having her.
Very nice advice and I think it’s dope you’re offering your advice and things. Good humans doing good human things is pretty cool. Thanks for being here and also super cool on you for spending and thinking so wisely. That mindset is everything in this situation!!!!
I offer advice because I understand the need to indulge your urge when your eyes pop out with dollar signs. But realistically that’s not a lot of money and she’s young and people telling her to buy a house is not sound advice because she’s still in school and she has no idea what she may want to do after she graduates. (Not sure of the gender so apologies if it’s wrong). So I don’t think that’s a smart move. But she has the ability to live very comfortably for her school years and do what she wants . She has to just stay calm and think and she will be ok.
I agree with you completely!!!
[удалено]
-Stay anonymous if you can. -Tell NO ONE! -Talk to a financial advisor. A fiduciary. -Set up a trust for yourself while you have the cash.
Don't tell your parents, get the money and get a reasonable place to live!
I came into a similar sum of money a few years ago. BUY A HOUSE!!! Invest in property. Don’t tell a single soul! You wouldn’t believe the people who come out of the woodworks to ask for money when they know you have it.
I would give you gold, but I’m poor.Help me out? JUST KIDDING. DONT TELL A SOUL AND INVEST THAT MONEY. Or a big portion of it. You’re not rich. A million can disappear easily. Get the basics you need to live comfortably (using as little as possible) and invest the rest. I would seek the advice of a fiduciary. Also, CONGRATS! You deserve it! I don’t know you but I’m genuinely happy for you.
Congrats dude! Your life can totally turn for the better more easily now. Few things to remember though. 1. Like all the comments are saying, Do not tell anyone. The moment one person finds out they tell others and everyone starts coming out of the woods to ask for a little piece and it adds up. There will be so much guilting and victimizing. Keep it to yourself. 2. Find a financial planner immediately. This money can be a great boon so finding someone to help guide you financially can be invaluable. They are just a guide though, YOU are the decision maker in the end. Don't let any of them tell you differently. 3. The best way to make money is owning things. Owning your own store or stocks or land. Always keep an eye out for undervalued assets. It takes money to make money. 4. Best of luck! Money is a tricky concept and bad investments are not uncommon so don't put all your eggs in one basket. I'm glad you won. You seem like you have a good heart and a nice head on your shoulders.
Buy a house, remember to save for taxes and don’t lend or gift money. A million dollars isn’t retirement money specially if you’re young. Be smart don’t quit working. And I hope you have a comfortable happy life.
Find yourself a good financial advisor
Hello, I work in a lottery store in a different state. Please SING YOUR TICKET! Also, even if it is going to cost money, go see a lawyer. Make a strategy to move out and get on your own feet. $1k here and there eventually add up. Find a financial advisor to help you make this last in the long run too. Happy winnings. As a personal note, if you are living in a toxic environment, therapy is fantastic and might help a lot with any potential traumas you might have collected along the way. Have a fabulous night
Don’t tell ANYONE. Not your friends, not your family, not ANYONE. Ya understand me?
If you haven’t finished school, transfer to somewhere out of state, finish school relax, at your time. And for the love of god don’t tell anybody. If you have finished school, move out to a big city you want a look for a job. Honestly. 1MM after capital gains taxes, depending on where you live js going to be like 500-560k. That’s not a lot but is something to remove youreself as far aways as possible from your situation. Come up with an excuse “i’m going to live with a friend” and get out of dodge
Stay safe, and congrats on the win.
Do not tell anyone. A million is not enough. Collect the money, find a financial advisor so you don't end up spending everything at one go, and if anyone asks, just say you got a new job so you can spend on some things now
When my mother died I got $41k in one lump sum. It was gone within a year because my boyfriend knew I had money and depression sucks. Don't tell anyone. Don't let people borrow money from you, or tell you sob stories (that's how I lost about 6k to "good friends"). I'm very happy for your good fortune, I hope people don't take advantage of you like had happened with me.
OP do not let anyone know about this. People will ask bet and even come after you for it. Don’t flex don’t live lavishly and save as much as possible don’t let the money ruin you as it ruins so many. You have a wonderful lord, finish school, and find an awesome job and enjoy it bro.
Congrats! Don’t tell anyone especially your parents! Also there’s this lawyer on tiktok who has a series on what to do if you win the lottery def worth checking out. He’s legit. His @ is haseeblegal and just incase there’s a typo and you can’t find him search lottery lawyer. But pls check it out!
You can spend this money a lot faster than you think. If you're careful with it, it can absolutely change the rest of your life. But if you're not careful, you can easily blow it all in less than a year and end up back where you started. Most people who suddenly get a lot of money don't know how to mange it well, and they spend it so quickly that they end up in debt. Most new NFL players end up in massive debt. A million dollars is not infinite. Please budget carefully, because most people don't realize how quickly it can disappear.
Pretty cool. But if your in America it's more like you won 600,000. Still cool, but fuck taxes.
Congratulations! DO NOT TELL ANYONE! In fact, moved just “far enough” from your family in order to keep suspicions minimal. I hope the prize will provide you with the jump start that you need.
Congrats just make plans for the future first than enjoy whatever left 💪🏾💪🏾
I’d move far away and live quietly. Too many times I hear lottery people feel like their relationships are ruined because now family and friends suddenly say you owe them money. Someone said that their mom asked them for all the money they spent on raising them back and their friends were all of a sudden making a list of how much money they owe them back + interest. I would seriously consider just not saying a word about the money. Live comfortably + quietly with no stress. Invest and get some help from a. Financial advisor. Open up a Roth ira and make sure you look into good quality cars that’ll last you a long time.
Get a financial advisor NOW. Make sure they're a fiduciary so they're legally obligated to have your best interests. Most of that money needs to be invested, and you'll set yourself up for an early retirement, but for the time being keep living your life as is. Get a cheap car, don't show off the wealth, and don't tell your parents if the situation there is bad.
TAKE A PICTURE OF THE TICKET!!
Assuming this is real, you should contact someone who can help you manage this money. Don't worry about the small stuff. Think big. After taxes this will be "no longer worried about money" for the rest of your life assuming you invest it properly. I work with people who fall into the "new money" category all the time. By all means, you can keep a chunk of change to make your immediate well-being more stable, but before you touch any money, you should consider reaching out to a wealth management company to see how you can turn this from a lump sum $500k payment into a lifelong yearly stipend to pad out your income. You can't retire on this much money, but you can certainly plan for a future where you no longer have to work. If nothing else, you can have someone manage it, pull an extra $15k per year in interest to increase your quality of life, and just live like normal. That extra $15k is a huge deal for most people. So don't mess this up and buy a house or something. Let the money managers take their % and ensure that you can guarantee income for the rest of your life. It will be worth it in the end. Also, congrats!
Please claim it soon incase you loose the ticket and take a picture of it
Once you’re settled, invest the rest of that money into an S&P500 index fund!! The market is down right now! Perfect time to buy! Imagine after taxes and you take that 1 time lump sum that if you settle down with a new car and a new apartment and still had $250,000 left. If the market hits all time highs again, you would’ve made $50k!
Move to Nebraska. By a moderate house and a car. Put $100k in a Roth IRA. Get a job. Get residency. Go to a state school. Make friends. Take care of your mental health. Live a normal life, just with a little economical boost to start. Live a good life and be kind to yourself and others (but don’t give your money away). Congratulations!
First, don’t think of it as a million. After taxes you’ll get about half I think. Don’t tell anyone. You’ve got money now, but not enough to go buying boats and stuff. Plan out how to use it with a financial expert. Being able to build up a nice savings while trying to get your life sorted out is a huge thing. Congrats.
Don’t buy a new car. You need to stay under the radar. A new car when you’ve been unemployed will cause all kind of questions you don’t want to answer.
Get a financial advisor. Not financial advice :)
DONT TELL ANYONEEE
proceeds to make a post on reddit
GET A LAWYER AND A FINANCIAL ADVISOR DO NOT EVEN TELL YOUR BROTHERS OR YOUR CLOSE FRIENDS UNTIL YOU MOVE AWAY AND HAVE A LAWYER AND ADVISOR.
Congrats!! Be aware that most people who win the lottery are broke again in a few years because they didn’t learn to manage the money correctly. It would be well in your interest to take a few classes on finance and use this to pull you out of your bad situation and continue to have your money work for you for the rest of your life! I agree with several other comments that tell you to not tell anyone about it. Be smart and be safe. Best of luck!
Consult a CPA asap
Def keep looking for a job. This is a boost, not a ride. The fun part though is that you get to look for a job while also being able to look at modest housing and transportation!
Buy a house .not a crazy extravagant house. A normal one , buy a normal car , then take the rest of your money and make it work for you . Dividend stocks. Don't tell anyone about this. People will come out the woodworks to take from you .
Congratulations, OP!! I'm super-mega-fucking happy for you and I'm glad that you won that money. Here's the thing, though: Don't let it get to your head so much that you burn through all cash easily and fast. Think twice, think good. Also like someone else here said, DO NOT TELL ANYONE IN YOUR DAILY LIFE ABOUT THIS MONEY. ABSO-FUCKING-LUTELY NO ONE OR IT'LL PROBABLY GET DISASTROUS. Please take care OP, stay safe! This is your moment of luck and I'm very glad that you won!😁👍🏼 (Also, sorry if I used a lot of cursing and sounded rude, it's not my intention)
Invest 90% of it wisely. Don’t tell anyone. But please don’t listen to these people and live the next 20 years like u didn’t win the lottery. Use 10, fuck it, 20% to actually enjoy it
I don't know you but I am so fucking happy for you, stay the course, do not tell anyone, do talk to a financial advisor, yay get far far away from your parents, and now you can afford it, get therapy, so you are an expert boundry setter, ...... enjoy your life!
I was literally in your situation until I started working a month ago. You living my dream budd! Best of luck to you and BE SMART WITH YOUR MONEY! And don’t tell anyone not even your parents. Just say you got offered a new job out of town and move-out without telling a soul you won the lottery
I advise getting a job and trying to live off only that income and figure out how to put the winnings to work for you. If you're constantly increasing your net worth from this point you'll never worry about money again.
It’s amazing and uplifting to read everyone’s genuine concern and advice for you, OP. Wishing you the very best in this new chapter. Cheers to better days ahead! :)
Surprising how many people know exactly what to do when winning a one in a million lottery.
Gimme 10k lmao. Uhm pwease?!
Oh my god I am so jealous, but at the same time delighted for you !! Enjoy every minute !
I cried tears of relief for you. You can escape this shitty situation finally! I'm gonna play the lottery tonight!!
Your life sounds like mine….. except for the million dollars! Good luck mate
Buy the book *Rich Dad Poor Dad* **yesterday.** That should be the first thing you do with it. Congrats!
I hear narc parents. 🤢 Just make them kick you out, find a simple apartment far away from them. Finish school and find a nice apartment. Congratulations OP ❤️❤️ You can end your abuse cycle now
First of all sign the ticket. Don't tell a soul you won. You need to find a competent trustworthy accountant. A million dollars is not that much money after taxes you'll probably see about 600,000. Still you can blow that in a heartbeat. If you can in new york, claim the money anonymously. Don't buy a house or something crazy like that out right, I would rent. Take your time, look around you might not even want to live where you are right now New York's expensive. You said you went to school if you graduated then obviously apply a job anywhere. But after sign the ticket if you haven't already, I guess go down to the lottery office with what you need you need identification I'm sure, maybe a SS card, I guess you can call the lottery office and find out what the procedure is. Just make sure no one overhears you on the phone. The minute they know you have some money they're going to try and get it out of you. If for some weird chance your parents are on your bank account go open the new account. You can have all the money just deposited it into a checking account if you wanted to but you need to break it up cuz I think accounts are only guaranteed up to 100,000. But in reality you should probably Bank a minimum of half of it in terms of retirement fund or a Roth IRA but that's something you need to talk to an accountant about preferably a CPA. You need someone who knows what they're doing. If you haven't finished school then finish it up and look forward to a nice bright future. Move out as soon as you can get your own apartment, just tell your family you found a cheap place and you're out of there . I wouldn't give the address though . get yourself a car it doesn't have to be new but you can definitely afford the new car now. And good luck.
Just remember 1 million can be gone very quickly. And don’t tell a soul. It’s a lot of money but needs to be invested wisely so it can grow for you! I would hire a financial advisor. Buy conservatively if you’re considering property and continue working to pay property taxes the rest, you need to invest
From checking online USA has taxes of 24% on winnings over a million. So you're looking at 760k. Not bad mate! I wouldn't tell anyone tho, rent a modest flat, get an ok car and live off your wages from your job and use the lottery money to fall back on.
Congratulations buddy! 🎊 Heed the advice in this thread kid and you'll be good.
W
Everyone in reddit is telling you "DO NOT TELL ANYONE." do that. That is number one for you. There is also reddit post on what do if you win; like get yourself a lawyer (to secure and save guard your financies) and change or get private phone number. Do **not** use your money to buy a house or new cars. **Rent stuff**, you will save money because ONE million dollars is a bucket with a hole. Get yourself a part time job that you can choose your own time/vacation time; this is so you can ground yourself and meet good people. Do not make just "rich" friends. Lots of "rich people" only want and are satisfied by normal/comfortable life while being **thrifty**. If anyone asks what your job is, tell them your a **private contractor** and if they ask for details tell then can't due to an **NDA**. Being rich is achieve freedom and independence. To find what you love and not be bothered by family drama or any jackass that thinks that they deserve a share of your win. Go to youtube (incognito mode) and be wiser by learning about people who lost their money. Also, this is going to sound a little out there but exercise. You don't have to be super fit or muscled but at least have good cardio and healthy. Indulge on good (gourmet) level food once a week but have fresh or organic food regulary. You now need to live long and fit to enjoy your money. Now, this is very out there; learn some self defense/ martial arts, even just for casual exercise.
Imagine scanning it at the store and it says Winner 1 Million lol! Congratulations! I would get my dream car and probably get a decent spot & adopt a dog if I were you.
Don’t tell anyone bro. Live your life quietly, people will change if they find out you have money and it will suck. Make smart choices tho don’t blow it like an idiot.
To echo everyone, congratulations and do not tell anyone you know about this!!!!!!!! Best advice I could have is to get a financial advisor and set things right for your future. Put at least 50% of your net out earnings into investments and get yourself a place to live, even if it’s a house you don’t buy outright. Good luck in life!😊
Congratulations! I hope I get to say the same one day.
Hey I'm from NY, were you the lady that won it from stewarts? You don't have to answer btw but I think I saw u in the news congrats.
I'm really glad you won, hope you get out of your shitty situation. Good luck!
Tell no one. Especially not family. Hopefully you can collect it anonymously. Some lottos force you to take a photo with a big cheque that they publicize and it’s not optional. They won’t pay you if you refuse Edit: I looked it up and it’s mandatory to make your win public in Canada. Fucked up i know
Delete this post my dude. Don’t have anything that could possibly track your win back to you. Don’t tell a soul. But congrats!
So glad you won . Sounds like it was timed perfectly before you:)
Live like you’re a 10,000-aire. Find a place you like, settle down, buy a nice but not extravagant car, invest conservatively, put yourself through a training program or school for something you’d really like to do. Invest in YOU. TELL NO ONE YOUR BUSINESS!
Don’t tell anyone wen you collect got in. Full body suit . Don’t say a thing
Congratulations man! Sounds like it's going to someone in life who needs a leg up which is fantastic. Lots of great advice on here, would recommend checking out /r/personalfinance as it has an FAQ for winfalls and how to handle it. All the best and congratulations again
Don’t invest in anybody’s business idea. Most fail. Just take it easy and simple in investing. With this amount of cash, you don’t need to take much risk.
I HIGHLY recommend looking for a lawyer/fiduciary and a tax specialist. DON’T talk to family or friends about this. Sign the ticket to lay claim to it and store it in a waterproof container. People are going to line up to get money from you so work with a lawyer to set donation and gift limits so no one can take advantage of you or guilt you into distributing more than you want to. Only once you have these safeguards in place should you disclose this to friends and family. Once word gets out, you will likely get a lot of requests from businesses and acquaintances for money. Give what you want but make sure to focus on you and what you want. Remember, this is your money. Spend it how you see fit and enjoy the ride. Congrats! [ edit ] - fixed spelling…
Assuming this is true, do not tell anyone. Use the money to get yourself into a safe I dependant position, then speak to a financial advisor and invest asuch of the moneh as you can. Its a great amount of money but won't last your whole life, unless you invest it smartly then it 100% will
Congratulations! I'm so happy for you!
Delete your reddit account if ANYONE knows it. Congratulations my dude!
First time lottery happened to someone who deserved it
First of all, Congratulations. Secondly do not tell a soul. No one. Not even your best friend. There are bloodsuckers everywhere. That money sounds like a lot now but when the bloodsuckers turn up, you will have little or nothing left. Move out, buy an apartment (tell anyone who asks its rented. Buy a car, search for a job but must importantly, give yourself an allowance & save as much as you can. You sound young if you are still with your parents so you need that money to go a long way. Be smart & be comfortable and plan plan plan. You now have some cushion to plan the rest of your life. Good luck.
Good for you,make yourself comfortable,house and car an enjoy your life 👍👍
Can’t imagine how it feels 😭
I am happy for you scine my parent are narcissit too, I real I am. I hop the same happens for me too.
My friend won $1M 4 years ago. He paid for his kids college fund, student loans, and a down payment on a house. Have fun; but don’t quit your day job
Congrats man, I hope it really helps you :) Can only repeat what many others have said, but it is worth repeating... 1. DON'T TELL ANYONE - This could really change your life... for the worst! 2. Research "FIRE" (Financial Independence Retire Early) 3. Treat yourself, you sound like you could use it, but don't go crazy. Invest as much as you can which will really change your life... forever! A million bucks sounds a lot but take out tax, nice house, nice car, holidays etc and before you know it you are back to zero bucks. Invested wisely however (low cost index fund), and it can set you up nicely for the rest of your life! Good luck, and enjoy! :)
Just an add on to everything everyone else has said, IM SO HAPPY FOR YOU EVEN IF YOURE A STRANGER TO ME. I’m in the exact same position rn without the money so I can understand how much that would change your life. So so happy for you!! 💗
Congrats, nice! save it! invest! dont buy a shit things and dont spend money like idiot. All in your hands.
Do not tell anyone by any means. Especially your parents with how you describe them. See if you can possibly talk to a lawyer or a financial person to see about what you can do to stay anon and make this as safe as possible and how to store the money. There have been so many people harmed or killed by loved ones and people they thought were friends after winning such an amount of money.
Congratulations. You deserve it 👏
As everyone here has stated. Do not tell a soul in the world about this money. Use it wisely, set yourself up with a affordable place. This million will look a lot different after taxes, buying a home, and car. Just make sure they’re affordable. Don’t go and buy millionaire versions of these things. You are not one. You are someone struggling who won a million. Please be smart and congratulations
While I would love to win the lottery myself, I am always happy when someone such as yourself wins! Yay for you!
Now I wanna go try my luck lol
The consensus is in... TELL NO ONE!!
Anyone wanna rob this guy?
Congratulations, I’m so pleased for you. Do not tell anyone IRL how much you’ve won, especially your narc parents.
hello there, cousin
$jstacckks
Get a financial advisor and be smart with your money. Don’t get super fancy things that aren’t sustainable on 1 million and will depreciate over time.
Get a financial adviser!!
Congratulations!!! Just please be smart about it. Get yourself a nice bottle of champagne and celebrate by yourself Tell nobody.
Financial adviser or this money is going to be gone quick.
Congratulations OP. I hope it serves you well and I hope you get to enjoy life now.
Fuck yes! Congrats man. I’m so happy for you :)
Be careful and don't spend it all because a lot of people blow through the money!
Echoing what everyone else says, do NOT tell your parents. My mother is a full blown narc and when my grandparents were sending me money to help put me through college, she was knocking on my door ALL THE TIME asking for money. They plan to leave me a decent chunk of change when they’re no longer around and have already told me, “do NOT tell your Mom when that day comes” It’s sad. But when my mother asks, I’m always “broke”. And you need to do the same. I have watched her DRAIN the bank accounts of every man she’s been in a relationship with using guilt and manipulation. Won’t happen with me.
Holy crap and a half Congrats for real. Enjoy it! Don't let anyone know, the cynic in me sees most people as just vultures. It's yours and your life comes first. Think you can spread some of that luck my way? I mean actual luck not money. With everything going in my life i could use some positivity..
Why cant I win 1 million dollars
Find a lawyer that will represent and protect you. Because even if you don’t tell anyone EVENTUALLY PEOPLE WILL FIND OUT. They will notice something is different and will start snooping. I don’t know if NY has a law if you don’t have to reveal your identity but that’s what the lawyer is for. I’ve read stories about people blowing their winnings so hopefully you have a plan to make it last. Congratulations. Take yourself out for a fantastic dinner and enjoy your winnings.
AGAIN DO NOT TELL ANYBODY !!!!!
1. Get a financial advisor. 2. Change your phone number. 3. Move out of NY 4. Don’t buy the fanciest newest car. Get something that’s reliable and will last a long time 5. Don’t answer the phone. They will call. They will try to find you. 6. Get a good lawyer. Actually, do this with the first one.
Congratulations!! 🎊 May God Bless ✌️
It’s so nice to hear it’s someone that really needs it. Congratulations on your move.
narcissistic parents will do their freeking utmost to guilt you into staying. Helping mom and dad. You, all of a sudden have a career opportunity in Teejerkastan or somewhere that's inconvientant to travel too. Don't tell anyone and don't go buying a brand new BMW M8. Wait until you move to do that. 1. financial advisor....one you pay for. 2. Don't tell anyone. 3. Find a place to move to. 4. Rent first, don't buy. 5. watch who your friends really are. If you tell ANYONE....you're all off a sudden having a plethora of friends......until you're broke. Then they leave you. Congratulations, I'm happy that you finally have the ability to take care of yourself a bit more comfortable.
I'm so happy for you...but I wouldn't tell anyone certainly not your parents! I'd just pick yourself up and change your life into what you want it to be. Set yourself up for life so you don't have to worry...I wouldn't tell friends either you'd be amazed at how many have no shame about hitting you up for whatever they can get from you. I know it may sound like I'm telling you to be selfish and I am to a certain extent because of everything that you have been through, you now have the chance to make your life and your dreams a reality so do it!! I'm telling you this because I was in a similar position about 4 years ago and all I could think of was helping the people I loved and paying off all my bills beyond that I had everything I needed...or so I thought!! 4 years later I'm in the middle of a divorce from an extremely narcissistic abusive man and when I asked my friends for help to escape a life threatening situation not a one of the people I GAVE money to could be bothered, in the end it was a virtual stranger who helped me get my life back. But because I trusted abusive husband to pay the bills he only paid the ones with both of our names and 2 years later I found out I'm still 27 grand in debt and broke!!! So take a bit of thoughtful advice from someone who thoughtfully trusted everyone she 😍 loved! Good luck to you and wishing you the very best!