[net.taxes] What do you do when you hit the lottery

rg (12/06/82)

I've always wondered what I would do if I hit the lottery for
a million or so dollars.  Recently, with the $11,000,000 N.J. lottery
I thought it might be interesting to see if anyone on the net
had some good ideas on how to handle a windfall.  Let's say you hit
it big in the stock market, or whatever.  How do you help from paying
most of it in taxes.  Where do you keep the money.  I know that with
big lottery winnings, they pay out over 20 years.  Is there some way
of taking advantage of this?  Anybody with some good ideas please
reply.  You never know when one of use netites might hit it big.

jak (12/06/82)

There was an article in a recent issue (Nov?, Oct?) of Money Magazine
on this topic.  They had several good points.  Their major guideline
was to put it away for the first year to gradually get used to being rich.
Then, hire a good financial advisor.

ark (12/06/82)

If you can't figure out what else to do, give it to me.
I've got lots of ideas...

garry (12/09/82)

	Someone provide me with the lottery money and I'll do a survey on the best
thing to do with it !!!!

		The Baer