Mark Tilbury, a self-made millionaire who began his journey at 16 and now runs a multimillion-dollar business, recently shared vital advice for anyone lucky enough to win the lottery. Known for his wealth-building insights on YouTube, where he’s generated over $50 million in revenue, Mark aims to empower others to achieve financial freedom.
In his video titled “You won the lottery, now what?”, Mark outlines four critical steps to protect your winnings and make your wealth last a lifetime. Here’s what he recommends doing within the first 24 hours after winning a large sum—like $50 million (£36.5 million):
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Sign the Ticket: Mark stresses the importance of signing your lottery ticket immediately to establish ownership, safeguarding it against theft or loss.
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Stay Calm and Discreet: Avoid publicizing your win. Claim your prize quietly to prevent unwanted attention and ensure your safety.
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Hire a Specialist Lawyer: Secure legal counsel from a reputable law firm that specializes in trust and estate planning to help manage your newfound wealth wisely.
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Invest to Last Forever: Calculate your desired annual spending, multiply it by 25, and invest that amount in a diversified index like the S&P 500. Following this “4% rule” allows you to sustainably withdraw funds each year without depleting your principal.
Supporting this advice, Anita Pires, a National Lottery call centre operator, explains how the verification process for winning tickets is extremely thorough. The lottery team confirms where and when the ticket was purchased and rigorously investigates claims before releasing prizes. She recommends signing the back of paper tickets as a helpful validation method.
Even if a ticket is lost, winners can still claim their prize by notifying the lottery operator in writing within 30 days and providing proof of ownership. After careful investigation, the prize may still be awarded if no other claims arise.
Mark Tilbury’s guidance is simple but invaluable for anyone fortunate enough to hit the jackpot—take quick, smart steps to protect your ticket, seek professional advice, and invest wisely to make your fortune last a lifetime.