The number of contestants that take the lump sum up front instead of treating it like an annuity to supplement their lifestyle over time is staggering, and also indeed another likely indicator of the selection effect that the people most likely to play the lottery are the least likely to have good investment advice in their lives.
Regular Lotto payments, even fixed ones, are some of the least likely assets to default (historically tend to be quite stable/secure) you can have if your threat model includes future governments debasing currency or high inflation. It's sad how strongly inversely correlated bad economies are to higher lotto activity. (Now, if your threat model includes future governments strongly prohibiting gambling and gambling payouts, that's a different matter.)
For your threat model question, I would be much more concerned about the state raiding the lotto fund to pay for, say, their pension obligationd than I am about them retroactivly banning lotto winnings on moral grounds. It is much harder for the state to steal from investments it doesnt control.
It's really not that different. All of the advice out there concerning how to prudently manage a portfolio of $100K applies pretty well to $100M. Going up to the $100M opens up some additional options (private equity, hedge funds, venture capital, real estate) and involves some additional taxes (estate/gift taxes), but you could do a lot worse with your $100M than sticking 60% in low cost equity index funds and 40% in low cost bond index funds and ignoring alternatives and tax optimization.
> Aggressive means easy to lose it all due to ignorance or fraud.
More aggressive than ultra-conservative does not mean aggressive in an absolute sense.
From a behavioral perspective, I doubt that most Americans are well suited to winning a lottery and being able to manage that transition well. Just look at all the bankruptcy stats on lottery winners. 
I work with people who have a lot of money. It’s part of my job. And although I’m not rich, im not suffering either. But this week as I reflected with my wife on what winning a billion dollars would be like, the thought that it would rip you out of whatever reality we currently live in and plop is into another reality is inescapable. For instance, I want to enjoy the money. That means I’m never flying coach again. But if I’m flying my family around the world first class, who do we go with? Our friends don’t have that kind of money. So would we pay for them? Ok, then when do we stop paying for others? (Before the money is all gone). And how does it affect the friendship when one friend is paying for everything the other one enjoys? The dynamic is weird, and probably stressful as can be imagined.
Having enough money that you can’t run out imof it (assume being prudent) would be great, but the social costs are high. I like my friends and neighbors and don’t want to have to get new ones because of the influx of ridiculous amounts of money.
 - https://www.bloomberg.com/news/articles/2018-09-12/the-poore...
 - https://www.cnbc.com/amp/2017/08/25/heres-why-lottery-winner...
When he offered $10,000 to improve the city's water park so that it was more handicap accessible, locals complained that he spent more money at the strip club.
Poor guy. Humans can be real nasty :(
The hounding sounds awful but he made some poor choices.
-He stayed in the small town.
-He left huge sums in his car (had 500k and 200k stolen in separate occasions).
-Pulled out 50k at a strip club and slammed on the bar
Also, he had the problem of being one of the first. We just had a 1.5 billion earlier this year, another one just happened at 1.6. powerball tonight is at 620 and no one seems to care.
>Whittaker's car was twice broken into, by trusted acquaintances who watched him leave large amounts of cash in it. $500,000 and $200,000 were stolen in two separate instances.
The more I read lottery winning stories, the more it becomes clear that you need to move (pref to another country) and change your name on the social level.
As for the handouts and beggers, it seems like it'd be better to incinerate all of the mail and make several anonymous donations to hospitals and programs (e.g. Make a Wish) in smaller amounts ($50k - $100k.)
It also seems prudent to have a few financial managers who are basically quarantined and unaware of the total sum of your net worth.
While it would be tempting to give money to family and friends, I don't think you can go down this route with friends. I think helping family out by paying off their mortgage is fine, but I believe that most financial exchanges between friends spoils the relationship. This also applies for treating people to fancy dinners and stuff. I think you'd have to suck it up and split cheques like the pre-lotto days.
Anyway, thinking about this is a fun mental exercise, but I don't doubt that I'd wind up with a knife in my spine, found days later on my personal yacht (not the one I entertain on.)
But yeah, I totally agree with the top subcomment: consult an attorney. Have that attorney help you with everything, like literally everything. In fact, it might be worth getting two so they make sure the other doesn't take advantage of you and so you'll have backup in case one attorney is unavailable. Your attorney should be able to hook you up with a good financial advisor, insurance (you'll want umbrella insurance along with a bunch of other insurance you probably never knew you might need).
First the chans began to merge with Arfcom GD, and now HN is becoming more connected. I'm interested to see where this goes.
Without some indication like the above, it's hard to take the WaPo seriously on this.
Though it's possible the book had a selection bias - because who would read the stories that ended happily ever after?
I'm not sure regular schmoes can avoid problems with large sums of money because we're not used to dealing with wealth or the problems it attracts. Rock stars, pro athletes, and even heirs to family fortunes have similar problems.
Given the likelihood of winning, I've already spent too much time thinking about what life modifications might be needed but here goes --
1) If you know or can access someone who has tons of money (e.g. Bill Gates), ask them. Though people such as Bill Gates probably have most of their wealth in investments, not cash.
2) Get a second address or at least access to a place under someone else's name. Assume your driver's license info will become public knowledge.
3) A couple of lawyers on retainer is good, at least one who specializes in defending against frivolous lawsuits. Maybe one who specializes in such lawsuits, just to knock them out of the pool of possible attorneys who would come after you. I heard Michael Avenatti might be available.
4) Having a friend or two in the police might help, they can find people willing to pull security details. The key phrases here are POST-certified, sworn officers. I'm not as big on hiring military-grade "operators" but maybe if you find yourself dealing with kidnappers or other hard-core types...
5) I prefer lump sum, because governments have a reputation for altering plans. Not to say a government wouldn't just confiscate one's holdings, but it's usually easier to not give something than to take it back.
6) If you are a man, seriously consider a vasectomy. That won't stop the paternity suits but you'll sleep a bit easier. Apparently celebs have doppelgangers who bed women on the reputation of others. That may be a harder scam to pull off in the age of smartphones.
I wonder if there’s a way around that by selling/auctioning off your winning ticket to somebody who’s already famous and, say, a billionaire at a discount.
The woman in question had already signed the ticket in her own name before setting up the trust.
Most states don’t allow trusts to claim a ticket at all.
Would be rather tough to find a trustworthy buyer, would need strong contracts, and some means of enforcing collection since if you need to go to court you're not anonymous anymore and there's no possibility of using escrow.
Not in principle impossible since a lottery ticket is a bearer instrument.
But this may be true of Western nations in general as wealth accelerates; and the increasing Gini coefficient in the U.S. may be just one more sad symptom of too much wealth, not too little. The U.S. won the techprogress lottery, and doing so seems only to have amped up political craziness, drug use and inequality.