A winning lottery loser?  7 months 1 days 8 hours ago |5 Views |
| | Email | Print  I’ve written three best-selling books on what
to do when you win the lottery, but really it can be boiled down
to five simple points.  Paul White of Ham Lake, Minn., violated
all five of my rules within 18 hours.  My five rules are:  1.
Don’t tell anyone that you won.  2. Take some time to get your
financial systems in place before you claim the ticket.  3. Find
financial advisers who have worked with more money than you
have.  4. Take the money in annual payments, don’t take the lump
sum.  5. Give money back to charity.  People with millions of
dollars blow all their money, all the time. A report by the
National Endowment for Financial Education said that 70 percent
who receive a lump sum, from any source, run through it in a few
years.  Since most people blow the money, Mr. White is bucking
the odds under any circumstances, but he has dramatically made
his life harder.  An article by Jenna Ross in the Minneapolis
Star Tribun