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Financial experts warn future winner of the $1.7 billion Powerball: Don't make these common money mistakes | Fortune

A related misstep is choosing between the lump sum and annuity on instinct instead of analysis, even though that decision locks in tax timing, investment options, and how long the money is likely to last. Financial writers note that many winners default to the lump sum without modeling scenarios with professionals and understanding that, after taxes, the headline $1.7 billion quickly shrinks.

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fromIrish Independent

3 weeks ago

Mental health

'There is a grief there': Eoin McGee on how winning the Lotto changes lives forever

New lottery winners often experience grief and existential challenges despite sudden wealth and require immediate financial planning and emotional support.

fromIrish Independent

3 weeks ago

Business

'I tell them not to spend more than 10,000 on any given item in the next six months' - Eoin McGee shares the financial advice he gives to his Lotto-winning clients

New lottery winners often experience grief and complex psychological challenges that require financial planning and emotional care, because money can amplify existing life issues.

fromIrish Independent

3 weeks ago

Mental health

'There is a grief there': Eoin McGee on how winning the Lotto changes lives forever

fromIrish Independent

3 weeks ago

Business

'I tell them not to spend more than 10,000 on any given item in the next six months' - Eoin McGee shares the financial advice he gives to his Lotto-winning clients

What it's like to become a millionaire in your 20s: 'The biggest challenge was the feeling of separation from people my age'

Sudden wealth can evoke complex emotions and challenge personal and social dynamics.

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#sudden-wealth#sudden-wealth

Financial experts warn future winner of the $1.7 billion Powerball: Don't make these common money mistakes | Fortune

'There is a grief there': Eoin McGee on how winning the Lotto changes lives forever

'I tell them not to spend more than 10,000 on any given item in the next six months' - Eoin McGee shares the financial advice he gives to his Lotto-winning clients

'There is a grief there': Eoin McGee on how winning the Lotto changes lives forever

'I tell them not to spend more than 10,000 on any given item in the next six months' - Eoin McGee shares the financial advice he gives to his Lotto-winning clients

What it's like to become a millionaire in your 20s: 'The biggest challenge was the feeling of separation from people my age'

#sudden-wealth
#sudden-wealth