Powerball at $725,000,000, Here’s What You Need to Know When You Win

Author Joel Katz

September 22nd 7:11 AM

Mega Millions and Powerball lottery tickets are seen on July 19, 2023

We all dream of winning big money, and how it will change our lives. Usually, while we fantasize we dream of a life of luxury without a care in the world. We would buy this, get that, donate to this, and take care of these people.

However, there have been several cases, none of which I will share here, where a big windfall didn’t go as expected. It’s similar to pro athletes who get that big contract but never learned how to deal with that kind of money.

This weekend’s Powerball jackpot is $725 Million dollars, and someone is going to win it, eventually. There’s no reason why that someone can’t be you. Sure, you’ll pay a bunch of taxes but who cares, it’s still a disgusting amount of money. If you take the cash option, you’ll end up with close to three hundred and fifty million bucks.

We’ve talked about this before, but I think it’s worth repeating since the jackpot has grown to such a large amount. Forbes recently published a list to assist anyone who wins the lottery.

Here are those six things they recommend should you beat those unbelievable odds to win that ridiculous amount of money. Here are some of the tips that can help prevent a life of ruin and help you enjoy a life of riches.

Remain Anonymous

For the love of God, please do this if you can. I think it goes without saying that this will make your life a whole lot easier. Not to mention cut down on the phone calls, texts, and knocks on the door from friends, family, and strangers. Here’s another reason as reported by USA Today.

Hire A CPA Or Financial Planner

Here’s another one that is an absolute must. I would not know what to do with all that cash. I’d probably just put it in one bank account and spend from there. There are things you can do that are best for protecting that kind of money.

Don’t Make Any Sudden Lifestyle Changes

This is a good tip that many might not think to do. Doing this will destroy your anonymity and alert everyone including nefarious individuals. The next thing you know you’re being held hostage for all your money, and that can make for a very bad day.

Pay Off Your Debt

Duh! With this kind of money, you should have zero debt. Pay off the car, pay off the house, pay off the student loan, and pay off all the credit cards. For me, that would be the ultimate “Hakuna Matata” moment.

Get A Lawyer

Like the CPA and Financial Advisor, a lawyer will be there when questions arise. They’ll be able to guide in making proper decisions and avoid losing a lot of your winnings to whatever comes after it.

Give To Charity

I’m sure for tax reasons this is a good idea, but just the wonderful feeling this would bring is priceless. When I dream of winning the lottery, I think a lot about people that I can help. That would be one of the greatest highs, I believe, that a person can get. You can get the full list here.

Don't Ever Apologize for These 10 Things

Many of us tend to offer apologies too frequently, even when unnecessary. Occasionally, we find ourselves saying “sorry” for circumstances beyond our control, such as unfavorable weather during an event we’re hosting. At times, we extend apologies for personal life decisions that are well within our rights, like switching jobs or ending a relationship.

Furthermore, we might apologize due to our heightened sensitivity to others’ emotions, in hopes that we didn’t accidentally upset them. It’s great to apologize when we’ve genuinely messed up or think we might have hurt someone without meaning to. But there are some choices we should just own and not feel the need to apologize for.

Excessive Apologizing

According to a report by Forbes, excessive apologizing often occurs in individuals who struggle with low self-esteem, a fear of conflict, and a concern about others’ opinions. They say this tendency is closely linked to having weak personal boundaries, which can lead to taking responsibility for situations we have no involvement in or no control over. As a result, we quickly experience guilt, as if everything is our fault.

In a study published in The European Journal of Social Psychology, researchers found that with each apology, individuals may experience a decrease in their confidence, potentially influencing their self-image. On the other hand, participants who refrained from expressing remorse in these situations showed signs of higher self-esteem, an increased sense of control, and an enhanced sense of integrity, as per the research findings.

When things get rocky with a partner, friend, family member, or coworker, saying a heartfelt “I’m sorry” can be the way to patch things up. Ideally, both sides would do some soul-searching and own up to any wrongdoing. If you’re wondering whether you should apologize for something, just take a peek at situations where there may be no need to apologize.

Pursuing Your Dreams
Your aspirations and career choices are deeply personal, and you should never feel the need to apologize for following your passions. Go after what makes you happy. Embrace your journey and stay committed to your dreams.

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Setting Boundaries
Establishing boundaries is crucial for your well-being. It’s a sign of self-respect and self-care, and there’s no reason to apologize for defining what you’re comfortable with and what you’re not. It’s okay to say no and stand up for your own needs.

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Saying "No"
Politely declining requests or invitations is about respecting your own priorities and limitations. You should never apologize for making choices that align with your needs and values. If you’d rather binge a show and relax than go out, that’s your call. No need to apologize for prioritizing what matters to you.

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Prioritizing Self-Care
Taking time for self-care, whether it’s a mental health day, a spa visit, or simply some downtime, is essential. You don’t need to apologize for nurturing your physical and emotional health. Taking some “me-time” is a must.

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Making Choices About Your Body
Decisions regarding your appearance, health, or lifestyle are personal matters. There’s no requirement to apologize for choices that are made responsibly and considerately. If you’ve noticed some silver strands or a couple of extra pounds, you might be tempted to say sorry for these changes in your looks. Don’t. It’s best to steer clear of apologies and self-critical remarks, as they can undermine your self-assurance and influence how others perceive you.

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Ending Unhealthy Relationships
Your emotional and mental well-being should always be a priority. Don’t apologize for ending toxic relationships that no longer serve your best interests. Toxic friendships or partnerships? Walk away with your head held high.

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Taking Time Off
Everyone needs a break from time to time. Whether it’s for rest or recreation, you should never apologize for taking the time to relax, recharge, and enjoy life. It’s okay to take a step back every now and then.

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Being Emotional
Experiencing and expressing emotions is part of being human. You should never apologize for your feelings. There is nothing wrong with showing your emotions. Everyone has them.

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Being Successful
Achieving success through hard work and dedication is a significant accomplishment. It’s something to celebrate, not something to feel sorry for. You worked hard for your achievements, so flaunt them.

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For Other People's Feelings Or Insecurities:
It’s important to recognize that you are not responsible for how others feel or their personal insecurities. It’s not your job to apologize for things that aren’t your fault. People’s emotions and self-esteem are shaped by a variety of factors, including their own experiences and perceptions. Being understanding and empathetic is great, but don’t carry the weight of apologizing for things that aren’t on you. It’s a surefire way to end up feeling unnecessarily guilty.

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