Investment Advice For A Lottery Winner : Financial Planning & You

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If you’re a lottery winner, one of the first things you’ll want to start thinking of is investing some of that cash. Get investment advice for a lottery winner with help from a published finance author in this free video clip.

Expert: Kevin Bourke
Bio: Kevin Bourke has been writing finance-related articles since 2007.
Filmmaker: Alfredo Rodriguez

Series Description: The world of financial planning is one that you shouldn’t try to navigate without either a great deal of research or a consultation with a professional. Get tips on financial planning and how to put it to work for you with help from a published finance author in this free video series.

36 Responses to "Investment Advice For A Lottery Winner : Financial Planning & You"

Rami Azzedine says:
June 7, 2015 at 6:36 am
I TAKE YOUR ADVICE ..THANKS
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1EVILZ06 says:
June 9, 2015 at 4:23 am
Kiss my ASS! The only people wanting you to invest is investors! LMAO! The only reason is to ROB you blind.YOU JUST WON THE LOTTERY.YOU dont need to invest.You dont need to grow your money.Its alread GROWN! LOL. Sit back and chill and keep those leaches away from your bank account.You only need a tax attorney,A estate Attorney.And my bank of america will provide my a wealth planner! I’m OUT!
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45138449 says:
June 11, 2015 at 11:39 am
you should win the lottery!!!! 🙂
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christal htoo says:
June 19, 2015 at 5:11 am
I think his idea was great, but One year is too long to keep money to without using any thing from your millions. Take sometime to think and plan will be great and safe, but you should not take too long to use it. I mean, take some bills from those millions to enjoy and happy with that money, but try your best to use your wisdom and knowledge to spent and invest wisely. Thank you so much for your advise because you remind me something that is very important. Thank you gain.
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Brandon Sanchez says:
July 2, 2015 at 7:07 pm
Great advice I really needed help with what to do with all my winnings, I will invest it properly and not fall under that 70 percent (:
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1EVILZ06 CORVETTE says:
July 8, 2015 at 5:35 am
What’s all this invest so when people ask you for money you don’t have access to it? LMAO! Every heard of the word NO! Most kids learn it at 6-12 months old! Lol
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Joe Visman says:
July 14, 2015 at 7:38 am
Soooo, don’t pay off your loans right away to avoid interest rates. Got it.
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4k8t says:
July 20, 2015 at 10:49 pm
The advice is to be deliberate with the winnings. Realize that it will have to provide income to sustain the winner (and relevant household) for years to come. (IOW, the winner should pay himself first.) Once that is taken care of, as can be reasonably assured, then the rest of the winning can be spent on whatever.
The 1 year suggested cooling off period was to separate the exuberance of winning “yay I won” from the sober consideration of “what do I do with this money”. The 1 year advice is obviously a response to what would be an obvious question, “You said have a cooling off period. How long?” Just don’t take it necessarily too literally.
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jksatte says:
August 19, 2015 at 4:51 am
Sorry but no way I’m waiting a year. I know it’s just not going to happen lol. Now that being said if I have over 10 mil just for me, I will take perhaps 200k and set the rest aside for a year. Something like that. Janice
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Mr. Harris says:
August 28, 2015 at 2:40 pm
Man fucc that!! Try telling this bullshit strategy to a broke mutha fucca ain’t gonna fly. I’m taking my $ & moving my ass out this country so Uncle Cracka Sam doesn’t get his greedy hands on it! Put it in a Swiss account & live secluded surrounded by sharks.
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Mr. Harris says:
August 28, 2015 at 2:40 pm
Man fucc that!! Try telling this bullshit strategy to a broke mutha fucca ain’t gonna fly. I’m taking my $ & moving my ass out this country so Uncle Cracka Sam doesn’t get his greedy hands on it! Put it in a Swiss account & live secluded surrounded by sharks.
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nudist1033 says:
October 14, 2015 at 6:27 pm
Or after you’ve done what you really need to do (lawyer, financial planner, setting aside enough to pay off all taxes on the amount of the winnings itself), put 95% of the rest into the monthly dividend stock, bond, and fund sector of the stock market and live off the dividends for the rest of your life without ever touching the principal.
It’s kind of like putting it all into a bank account and living off of the interest alone without taking out any of the money that’s in the account) but this is with the stock market (which is tied to all of the banks anyway) without leaving it in one building where other financial institutions aren’t tied into it on a global basis.
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jay syed says:
January 1, 2016 at 12:38 am
So you are hungry and your telling us not to eat the BBQ chicken in your plate
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masterciefl2k says:
January 9, 2016 at 4:25 am
win lottery “do nothing” not even claim prize? is it within 180 days prize has to be claimed? if I do where do I park my money for a year for safe keeping … more info please!
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Luis Olivares says:
January 9, 2016 at 10:10 am
Do you even finance bro? A dollar today is worth more than a dollar tomorrow, so why the heck wouldn’t you do anything for a whole year?
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el Flaco 66 says:
January 11, 2016 at 8:33 pm
If I won I would get a garage and put book shelves in it w/ books and hire Tia Lopez to read’em to me. LOL
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serpentarius51 says:
January 12, 2016 at 4:43 am
How do you protect yourself from “Bail Ins” and having the Government steal your winnings ?
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VeritasSuperarachnid says:
January 31, 2016 at 4:18 pm
How about telling us HOW to go about claiming it..
Everyone can tell you what not to do, but what about DOing?
Do we just put it in our local town bank? (I live in a very small town)
Do we put it all in the same bank? (FDIC only insures up to 100k?)
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Brian Stripling says:
June 23, 2016 at 1:14 am
that was boring and terrible advice because you want you money working for you right now…..what if you are unemployeed and have debt? How doe this advice work of you? The first thing Im going to do is buy a new car….sorry
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Rita Váradi says:
July 14, 2016 at 5:24 am
It’s a horrible advice. I want to quit my job, that’s the reason I’m buying lottery tickets. Certainly I would ask a financial advisor to help me invest my millions, and consider the different scenarios, but I can do it in a month, not in a year. I wouldn’t buy cars and expensive mansions, but I would enjoy my money and the freedom of choice.
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C Z says:
July 27, 2016 at 11:05 pm
terrible advice. what if you are in an accident and god forbid, die then won´t be able to use the money. If you win, spend it a little as you like, on yourself, family and close friends then, invest in some bonds, stocks or something . … “don´t spend it for a year… ” worst advice ever..
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poetrhode don says:
July 28, 2016 at 4:45 am
i wonder how many people he has caused to die from jittery impatience??
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sweet Tea says:
July 28, 2016 at 2:58 pm
sorry that’s not happening I’m not going to go on a crazy shopping spree,I will must likely invest most of my money, and get into real state but hell yeah I will be treating myself a little.
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Carl Warren says:
July 29, 2016 at 8:59 pm
Excellent advice for my situation. Now all i need to do is claim my winnings.
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SOOLIN S says:
July 31, 2016 at 6:15 pm
This is my strategy:
1. Put 89% of your net winnings or large inheritance into long-term investments
2. Put 10% of the above into short-term investments
3. Reserve 1% of the above to spend on your wants
Get yourself a good attorney, preferably with a large, well-known Law firm, hire a Certified Financial Planner and Accountant who will work together with you and who you can trust to look after your interests.
Keep your mouth shut!
Take time to get all things in order, don’t be in a rush to get at the money.
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nickinspring says:
August 4, 2016 at 12:08 pm
worst advice I’ve ever heard. Let it sit for a year. Wrong, invest it, you have to at least make enough on it to keep up with inflation; otherwise you are losing value. Get some good advice, a certified financial planner is a good start, but not this guy. That year of letting your money sit in the bank and not be out there earning is costing you 3 to 4% of the value of your money….. making his advice the craziest advice I’ve ever heard of. Lose money to inflation. EEEEErrrrrrrr!!!!!
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donald walter says:
August 10, 2016 at 3:11 pm
I don’t agree with such a long waiting or cooling down period as he suggests of 2 years, but a year is not bad idea for the big windfalls. I would set up a personal will though which would make sure your new wealth could at least make it to family, friends or causes in the advent of your demise before you get a chance to spend any of it. This can be changed later. Investments is something that would differ if your young and have time to diversify for a longer period of time but if older you don’t want to tie up all your wealth in something that you won’t see any growth for 10-20 years.
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Karen D. Bouldin says:
August 15, 2016 at 11:19 pm
I totally disagree with this advice! One shouldn’t wait a year and hold off after they win the lottery, especially a huge jack pot. I suggest you make financial plans immediately after you WIN. Please seek the advice of a CERTIFIED PUBLIC ACCOUNT, A TAX ATTORNEY and if needed a financial planner to give you clear precise financial planning that will help you save money for the rest of your LIFE. My personal advice to you is: if you INVEST your money wisely, please look into a DIVERSIFIED portfolio. It is wise not to put all your eggs into one basket…
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dannukesem says:
September 26, 2016 at 2:02 pm
I think the concept of his advice is spot on. The idea of waiting is it gives you time to make good decisions and not just emotional ones that you are likely to make at the start. Most lottery winners are broke in a few years and this is what he is trying to avoid.
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Zam Zamo says:
September 27, 2016 at 3:29 am
so I must live broke for 2 years and then die I enjoy nothing fuck that I ain’t saying spend everything but I gonna enjoy my money
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Mary Allen says:
October 9, 2016 at 3:01 pm
I would move out of town into a place where no one knows me. I would get a new car and a new place to live then do nothing. Just a practical car not flashy.
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dark matter says:
December 31, 2016 at 4:27 am
I’m dead broke now. if I win now, that money is all I have to spend and if I don’t spend any for a year, I will starve and die.
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dark matter says:
December 31, 2016 at 4:28 am
great advice, other than don’t spend any for a year
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Robboned says:
January 25, 2017 at 12:07 pm
I wouldn’t survive the party I’d have if I ever won so long-term wouldn’t apply to me.
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Be Nita says:
February 15, 2017 at 11:01 pm
Do Nothing for a year? Is he smoking crack, even the most financially responsible people I know would NOT wait a year if they won the lottery to spend some money
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e.i mccool says:
February 18, 2017 at 10:17 pm
The purpose of having a lot of money is to spend it.
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