Best Financial Advisor for Powerball & Lottery Winners
Best Financial Advisor for Powerball & Lottery Winners
A win does not change people’s values around money, it exaggerates them.
If you won, the lottery takes your time, and do not promise anything straight away.
We encourage you to take your time and feel what it is to be wealthy.
Those who choose to move to a bigger home need to consider and budget for all the extra costs a bigger property brings – from utilities to cleaning.
Gifts to friends and family can be complicated to structure in the most appropriate way, especially if they want to provide them with an income, rather than a lump sum.
We tell people not to be fearful of their wealth, but it often brings headaches.
There is the financial jargon, and it often brings the best, and worst, out of family and friends.
During [the] the first year there is a lot you need to do.
Do not underestimate the importance of educating yourself.
You need a team of people in place before you do anything at all with the money.
During your first year with the money, interview, interview, interview advisers.
It is up to you to match your needs with the advisers’ expertise because expertise will vary even within a well-defined profession.
The most important lessons in life are caught, not taught.
Those closest to you will be more influenced by what you do than by anything you say.
Take a moment to consider what your life is like and what you would be doing if money was not a problem.
How would you spend your time, how would you be contributing, and how do you find self-value and self-worth?
Many people go through this when they retire, especially those with executive positions.
They go from being important and valued, to losing themselves and having to find their purpose.
What does this lotto win mean to you? Meaning winning lotto
This is a personal question, however, there are some common answers, including:
home unencumbered
investments earnings meeting your lifestyle needs
wake up with no alarm
plan your day out
are not in a rush
you don’t need to sit in traffic jams
you work on your own terms
you can take a break whenever you want
you can go on holiday anywhere anytime
you can spend time with those you love
What to do now you have won the lotto?
Vision
What do I really want?
Why do I really want this?
Choosing your goals or knowing where you want to end up is a crucial part of setting your vision.
They help lay the stepping stones to success.
When it comes to our financial lives, common financial freedom goals are often “repay your mortgage” & “replace your employment income”.
These are all fantastic goals.
In our experience, we have found when people attach their values or why this goal is important to them, it provides more meaning and increases the probability of achievement.
Most of the time past experiences and individual filters will be placed on each goal.
Everyone has different goals and that is ok.
Money doesn’t buy happiness, but the unfortunate reality is that it does buy choices and choices are something that you want at all stages of life.
Values
What is important about it?
You need to know where you are going.
Different goals require different strategies.
It helps shape your career choices
It helps you stay focused.
Methods
how will I get it?
Now you have your goals outlined & why they are important to you, it is time to start building the plan around this to map out how you will get there.
Much like a GPS – you know where you are now, you understand your destination & now you have to work out the best route to get there.
Many people will opt to do this alone, however, if you have had these goals for several years & are yet to achieve them, it may be time to bring someone else in to support you & keep you accountable.
Generally, most people seek advice & support from family members or spouses, however, your finances and goals can be very personal, and you may not want to share your goals or financial situation with your family.
The alternative is to outsource this to a financial advisor who can provide expert advice, support & guidance.
This is the job that they do day in and day out.
They have the experience of hundreds of clients before you, they understand what works and what doesn’t work.
You can also lean on them to avoid mistakes as you only have one opportunity at life, and you want to ensure you get it right.
However, if you look to build your plan, ensure it has the steps to get you to achieve your goals.
“Run don’t walk to see a financial adviser”
– Advice from the $109m lotto winner
Mintco Financial – Lottery Financial Advisors
We at Mintco Financial Advisors have been helping many lottery winners with their financial planning, helping them achieve their goals and peace of mind.
Book a call and reach out to understand your options and receive financial advice for your lotto win.
813-964-7100
or email us at info@mintcofinancial.com
www.MintcoFinancial.com
