Lottery Activity and Financial Difficulties

Jackpot! - You've won the Mega Millions Lottery

The assignment is to make you plan out what to do with all your newfound wealth. You've won the minimal amount of

$40 million before taxes. Let's assume that the amount you get to take home for the cash option after all the various

forms of taxes and fees are taken out is $24 million. You will need to give detail into how you plan on accounting for all

$24 million.

Here are some things to consider, however more thinking on your part is recommended:

Will you pay off debt? If you have no debt, will you help family and/or friends pay off debt?

Now that you are newly wealthy and young, if you plan on finding a spouse, will you have them sign a prenup?

How will you go about making sure people care about you and not your money?

Do you plan of working a traditional job? Do you plan on starting your own company or companies? If you do not want

to have a job, how will you get your new wealth to make you more wealth?

What kind of house(s) or vehicle(s) will you own?

If you want kids, how are you going to plan for their future? How will you cover their food, clothes, interests, schooling,

etc.?

How would you ensure your kids remained humble and did not become spoiled?

How would you plan for your retirement?

Are there any organizations or charities that you would donate to?

Again, these are just some things to consider.

PLEASE IF YOU CAN HELP ME

Answer rating: 100% (QA)

Congratulations on your 40 million Mega Millions lottery win Here is a detailed plan on how you can effectively manage your 24 million in winnings aft... View the full answer