1.34 Billion Reasons to Be Prepared for a Windfall
Aug 1, 2022
What would you do with a windfall? It’s a question I’ve read or heard a lot lately. Considering the Mega Millions jackpot ballooned to $1.34 billion, yet the lucky winner has yet to be revealed. It’s safe to say most of us have thought about what it would be like to win.
While winning the lottery is far from likely (odds this week are 1 in 303 million), it’s never a bad idea to consider what your future may bring. After all, a windfall isn’t limited to lottery winnings; inheritance, property sales, employee stock options, business sales, investment returns, and gifts can also qualify.
Here are some tips to keep in mind, should you come into a windfall:
Assemble Your Team
When facing a windfall of any size, it’s wise to secure the services of an attorney and an accountant who specialize in tax law. They can help manage your newfound wealth while your financial professional (that’s me) works with you to create a long-term strategy.
Mum’s the Word
It’s unfortunate, but there are those who would love to separate you from your money by any means possible. You can avoid some of these scammers by only discussing your finances with those you trust.
Plan to Give
As word of your luck spreads, you may get financial requests from friends, family, or charities. Speak with your financial team about gifting strategies or how much you can donate annually. You may even want to consider forming your own charitable foundation.
Are you actually likely to win the lottery? No. But it never hurts to be prepared for a lucky day.
More Insights
Jul 9, 2025
Few terms in personal finance are as important, or used as frequently, as “risk.” Nevertheless, few terms are as imprecisely defined. Generally, when financial advisors or the media talk about investment risk, their focus is on the historical price volatility of the asset or investment under discussion.
Jul 7, 2025
As Americans get their grills and beach chairs ready for the July 4th holiday, the stock market and the weather across much of the country have both been on heaters. Stocks and bonds continue to effectively navigate a complex policy landscape shaped by evolving trade dynamics, geopolitical tensions, and fiscal stimulus. The market’s resilience in … Continue reading “Market Update – America Gets Record High Stock Prices for Its Birthday”
Jun 20, 2025
Birthdays may seem less important as you grow older. They may not offer the impact of watershed moments such as getting a driver’s license at 16 and voting at 18. But beginning at age 50, there are several key birthdays that can affect your tax situation, health-care eligibility, and retirement benefits.
Jun 18, 2025
During times like these when geopolitical headlines can be unsettling for investors, we at LPL Research like to remind ourselves of one of our key investing principles. Markets have always faced challenges —ranging from geopolitical conflicts and economic downturns to natural disasters, political upheaval and health crises. These events often trigger short-term volatility and shake … Continue reading “Why Long Term Investing Beats Selling in Volatile Times”
Jun 16, 2025
Are you concerned about the inheritance taxes your heirs may have to pay? Then you may want to consider creating charitable lead trusts.
Top of Page
Services
Epic Capital provides the following comprehensive financial planning and investment management services: Learn More >
Find us on:
Copyright © 2026 Epic Capital Wealth Management. All Rights Reserved.
Securities offered through LPL Financial. Member FINRA/SIPC.
The LPL Financial representative associated with this website may discuss and/or transact securities business only with residents of the following states: CA, CO, DC, DE, FL, GA, IN, LA, MD, MO, MS, NC, NJ, NY, PA, SC, TN, TX, VA, VT, WA.