If I Won A Lottery of 1 Million Dollars, What Would I Do?
Contents:-
- Planning
- Implementation
- Conclusion
Planning
Well, This is a big amount. Before starting to use the money I need to plan what I will do with this amount. While planning, I have to take care of the plan's feasibility, Understand the need for a strategic plan, Set goals, and Develop assumptions or premises. Research different ways to achieve objectives, choose my plan of action, Develop a supporting plan, Implement the strategic plan, etc.
Implementation
Implementing my plan is putting my goal into motion. This is the "doing" stage. Assign different parts of my plan to those people I feel can best accomplish them or I may decide to handle the implementation myself. Pull together all the resources I previously identified in the planning process.
Conclusion
If I get a big cash windfall from the lottery or other types of gambling, I will avoid the common mistakes: I will not do anything in a rash or go on a spending spree before I have hammered out an overall wealth management plan and done some long-term thinking and goal-setting. Before accepting any prize, I have to consider the financial implication of keeping it and making the decision that I will have the most positive impact on my long-term finances. Otherwise, My big win could turn into a losing proposition.
ANY QUESTIONS?
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