Lots of people endured long lines for a shot at the Powerball and they are still flocking into retailers that offer the lottery ticket.
Those hopefuls are just a few hours away from the Powerball drawing worth $750 million, but if you win all of that money, what’s next?
Bill Evans, of Augusta, already knows.
“If I win, I always want to help somebody,“ he said.
Everyone cashing in on a Powerball ticket is considering just what they will do with all of that money.
Evans told us he’s retired now and wants to make sure others can afford college since tuition has skyrocketed from the $18 a credit hour during his time.
He explained, “There are some friends of mine who are sort of struggling and I would be able to help them. I definitely believe in helping the kids who want to go to college.“
Whether your windfall is for someone else, or for yourself, we wanted to make sure you know how to invest it. So we sat down with a Strategic Financial Management Wealth Advisor to see, if you get rich where do you start?
Wes Sullivan said, “I would find out more about you and what are your passions? What do you like to do? What’s important to you?‘
Sullivan said money should not be complicated. He said sitting down and talking about the process that leads you toward your best life is key with your new found richness.
“If you want to travel the world, if you’re passionate about that then we need to invest the money toward a lifetime to travel, if you want to leave a legacy toward you kids and your grandkids,“ he said.
And if you’re thinking that’s not the responsible thing to do, don’t worry. Sullivan said just sitting down with a wealth advisor is being smart. But there is one other person you may want to see, an accountant.
“That’s right. The tax man,“ he said.
Here’s some encouragement. A $10,000 Mega Millions ticket was sold at the O.K. Mart on Lumpkin Road in Augusta on March 26 .
Photojournalist: Gary Hipps
Securities and advisory services offered through Cetera Advisor Networks LLC, member FINRA/SIPC, a broker/dealer and a Registered Investment Advisor. Investment advisory services also offered through CWM, LLC, an SEC Registered Investment Advisor. Cetera Advisor Networks LLC is a separate entity from any other named entity.