[If any of you do win a big pot, I wish you the best. Do be careful. Most people would burn through $100k within 18 months.
I am talking about the ones who got at least $100k in their pockets Everybody they know wants to borrow money for the business they always dreamed of, but could never have achieved. Their family members and friend were given unrepaid loans. When the businesses or ventures failed, they never got repaid.
So, I started telling my clients all of this in the hope it would scar the hell out of them to protect themselves. None listened. Thereafter, whenever I had a large recovery for a client that sufficiently could change the rest of their life economically, I would take them downtown to meet with MY accountant for an hour so he could scare the **** out of them and reinforce what I was telling them to do with the money. Was only truly successful a couple of times, but it was worth it. Almost everyone who catches a windfall spends it all.
So, if anyone here ever catches a windfall of any sort, please start out with a Trust Lawyer, Financial Planner and an Accountant to set everything up the right way to minimize their chance of squandering the windfall.
rfenst wrote:
