(Pro 13:22) A good man leaveth an inheritance to his children’s children: and the wealth of the sinner is laid up for the just.
With the Powerball at $475 Million and the Mega Millions jackpot at $190 Million there will be all kinds of office pools, various groups, families and people all over this country purchasing lottery tickets in hopes to winning one of these huge jackpots. Yet we often here so many sad stories regarding people and their lottery winnings. They often wind up broke and sometimes dead. As the old proverb says A Fool and His Money Are Soon Parted this is so true many times when it comes to people suddenly coming into large sums of money.
Our scripture text says that a good man leaveth an inheritance to his children’s children so when we come into money we have a responsibility to use it wisely and leave an inheritance. What happens so often is people have no clue as to what to do when suddenly they go from poor man or woman to what they imagine to be wealth that will last them forever and in most cases it can when used wisely. If you are reading this blog and suddenly come into to some serious money first of all after Thanking God for your financial blessing sit down take a deep breath and plan. Should you come into some serious money especially winning a Powerball or Mega Millions Jackpot Don’t Tell Anyone!!! That’s the first mistake everyone usually makes don’t even tell your mom or your kids. Do not let your left hand know what your right hand does now that’s from The Bible.
There are plenty of sad stories of athletes and lottery winners helping out friends and loved ones start businesses that usually fail. The friend or family member can never pay them back their investment. Look at the first part of the verse I quoted. (Mat 6:3) But when you do merciful deeds, do not let your left hand know what your right hand does. When you come into money learn how to help people without them knowing it was you that helped them. I would advise any lottery winner or athlete if there was some type of business that you always wanted to start take a small portion of your funds go to a bank take out a loan secured by your money. At the same time most banks and credit unions have some very secure investment plans that are either low risk or no risk.
Find a good accountant and attorney should you ever come into money or win the lottery and remember it’s your money you don’t have to take all of their advice. Some attorneys steer their clients to bad investments if you are already rich because of a big contract or you won the lottery you don’t need to risk your money on high risk investments. As I stated most banks and credit unions have very good low risk or no risk investment opportunities. You also find that most insurance companies offer low or no risk investment opportunities. Should you decide to seek advice from a financial planner who deals with investments let them know that you’re interested in low or no risk investments because once your money is gone it’s not coming back Be Encouraged and Blessed Minister Mike.