Use Lottery to gain wealth? There are other ways to improve your financial standing

There are better ways to get rich than using the lottery.  The recent mega millions frenzy produced a crop of new-rich hopefuls.  However, the old-fashioned way holds the upper hand when compared with the odds – one in seventy-five million – of winning the lottery. A few careful planning tips are likely your “luckiest” path to wealth, based on AZCentral.com:

The odds are higher that you may be struck by lightning (1 in 10,000 in your lifetime) or attacked by a shark (1 in 11.5 million) than that you will win the lottery.  But, as long as shark attacks continue and lightning bolts strike, so will the lottery – because there is always that one person of the 10,000 / 11,500,000 / 75,000,000.

Have A Happy Retirement Together With A Retirement Plan

Yahoo! Finance:  Consider this statistic: A third of all couples retire within a year of each of other.

Though there are a number of explanations regarding age and money, the answer that researchers keep coming back to is that couples really do enjoy spending time together, says Courtney Coile, an economics professor at Wellesley College in Massachusetts.

It doesn’t matter if you want a house full of grandchildren, or quiet walks on the beach with your partner, to make the most of your golden years, set lifestyle goals, understand your cash flow, and create a plan for asset allocation, longevity risk and wealth transfer.

Protecting Your Retirement Savings

U.S. News & World Report: Many of us worry about what could happen to our retirement investments if our plan were to be terminated or mismanaged. Creditors can also come looking for your retirement money. Here are some protections designed to help you keep your nest egg intact.

You Don’t Have To Move Your Money Offshore To Get Asset Protection

Forbes on domestic asset protection trusts:  “If you’re aiming to stiff creditors, litigants or an ex-spouse, should you hide your money in Nevis or Nevada? . . . These aren’t the garden-variety trusts set up for the benefit of your heirs. These are “self-settled” trusts, meaning you put the money in and you can benefit from it. But after a certain period of time your creditors (supposedly) can’t get at these funds.”

Cook Island Trusts: Basking in Islands of Legalisms

New York Times:  “The Cook Islands have a smaller population — about 20,000 — than one apartment complex in Manhattan, and an economy with little to offer except tourism and pearl exports.  The country contracts out its national defense to New Zealand, which is four hours away by plane.   But sand and sun are not the attractions for some Americans who have sent their money to the Cook Islands.  Under Cook Islands law, foreign court orders are generally disregarded, which is helpful for someone trying to keep assets away from creditors.”