Podcast
Questions and Answers
What does financial adviser Robert Pagliarini suggest for lottery winners?
What does financial adviser Robert Pagliarini suggest for lottery winners?
- To spend all their winnings on luxury items
- To get a team of experts in place, including an attorney, tax expert, financial adviser, and possibly a therapist (correct)
- To donate all their winnings to charity
- To invest all their winnings in a single asset
What should the winner of the Mega Millions lottery do with their winnings?
What should the winner of the Mega Millions lottery do with their winnings?
- Spend it all on lavish vacations
- Pay off any debts and then invest in assets that generate income or appreciate in value, such as stocks, real estate, and bonds (correct)
- Donate it all to charity
- Keep it all in a savings account
Why is it important to distinguish between assets and liabilities when making purchases?
Why is it important to distinguish between assets and liabilities when making purchases?
- To make sure the winner can buy whatever they want
- To avoid overspending (correct)
- To invest in assets that generate income or appreciate in value
- To donate to charity
What should the winner of the Mega Millions lottery do before making any significant purchases?
What should the winner of the Mega Millions lottery do before making any significant purchases?
What is an example of an asset that the winner of the Mega Millions lottery should invest in?
What is an example of an asset that the winner of the Mega Millions lottery should invest in?
What should lottery winners who do not win enough to retire on consider doing?
What should lottery winners who do not win enough to retire on consider doing?
What did Neal Wanless, who won $230m, invest in?
What did Neal Wanless, who won $230m, invest in?
What did the Hancocks, who won £1m, start with their winnings?
What did the Hancocks, who won £1m, start with their winnings?
What is an example of a fun purchase that lottery winners may consider?
What is an example of a fun purchase that lottery winners may consider?
Has the winner of the Mega Millions lottery been named?
Has the winner of the Mega Millions lottery been named?
Study Notes
- A Maine resident won the $1.35bn Mega Millions lottery jackpot after 25 draws with no winner.
- Financial adviser Robert Pagliarini suggests getting a team of experts in place, including an attorney, tax expert, financial adviser, and possibly a therapist.
- The winner should pay off any debts and then invest in assets that generate income or appreciate in value, such as stocks, real estate, and bonds.
- It's important to distinguish between assets and liabilities when making purchases.
- Sometimes lottery winnings are not enough to retire on, and winners may consider investing in a business they have expertise in.
- There is room for fun, but the winner should consult their team before making any significant purchases.
- Previous lottery winners have donated to charity, purchased real estate, and started businesses.
- Neal Wanless, who won $230m, invested in a 50,000-acre ranch that was not a great investment according to Pagliarini.
- The Hancocks, who won £1m, started a fish and chip business with their winnings.
- The winner of the Mega Millions lottery has not been named.
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