The Mega Millions jackpot has hit the $355 million mark.
The drawing was on Tuesday night, but winners have not been declared yet.
I read somewhere the lump sum cash option totals $224 million, before taxes.
Wow! That's a lot of money, even if Uncle Sam takes away most of it as taxes.
I wonder what I'll do with all that hard cash.
I'm sure you and I can think of mega millions of ways to spend these mega millions.
Instead, let's figure out the 4 things NOT to do after winning mega millions.
1.
Give it all away to charity.
Hey I'm all for charity.
I mean, you need to help people every now and then by donating to charities.
But giving it all away seems a little too much.
Don't you think? So yes, no go for all for charity.
2.
Invest in real estate.
Seriously, real estate is not where the action is anymore.
Of course flipping real estate can turn out to be lucrative, but do you really want to invest every buck of your winnings into such a risky endeavor? My suggestion - invest part of your winnings, not the entire lot, if you are really into real estate.
3.
Play the stock market.
Stock market is as bad as flipping real estate.
It's risky and complicated, and unless you are already a hotshot stock market player, playing the stock market with your mega winnings is yet another no go for you.
4.
Become a corporate investor.
You might want to put your mega millions into financing a company, maybe a start-up company.
But think about it, unless it's your own company, or you are directly involved in managing the company, you might be just throwing your winnings away, possibly into a black hole with no possibilities of any returns.
So yes, don't get into financing someone else's company.
Therefore, above are definitely the 4 things not to do after winning mega millions.
What do you think? I'd advise not to spend it all at once, but hey, it's your mega millions - do whatever you want!