From an e-mail with the subject head: "Don't Be a Loser With Your Powerball Winnings":
It's official. One lucky person holds the only winning ticket for the $340 million Powerball jackpot. Once the identity is known, the first question will certainly be what are you going to do with all that cash?
Jerry Webb, CFP, Chairman of Minnesota-based Webb Financial Group says that those who come into money should be careful of their first steps. "There is an inherent excitement that comes with the receipt of unexpected money and many make foolish mistakes."
Webb explains, "Take your sweet time. Sit down with professionals including a good financial advisor, lawyer and accountant to determine goals and create a sensible plan. In the meantime, place the windfall in a money market account where it will be safe until an action plan is in place."
Most of all, Webb advises against rash decisions such as immediately quitting one's job. "Remember, there's no rush. You'd much rather take your time in the beginning then turn around in a year or two and have loss a large of amount of money," asserts Webb.
Speak with Jerry Webb to discuss what individual's [SIC] should do with a large financial windfall. For an interview contact Bradd DelMuto at 610-642-8253 or email [email protected]
Thank you for your consideration.