I’m 18 and live in California, and today I bought a scratcher and somehow won $75,000. I’ve never dealt with anything like this before, so I’m kind of overwhelmed and not sure what the smartest next step is. I know that since I’m 18 I can legally claim it, but I’m not sure where exactly I should go or how the process works for an amount this big. Should I take it straight to a lottery district office, or is there a better way to handle it? Do I need to worry about taxes in California or just federal taxes? Should I be talking to a financial advisor before I even claim it? I really don’t want to make a rookie mistake here, so any advice from people who’ve gone through something similar would be super helpful.
18 in CA — just won $75k on a scratcher, what should I do?
r/Advice
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Help someone in need ! God bless 🙌 🙏
I’ll see you on my lottery dream home
First of all congrats! In the scratcher you will find the number to call they will guide you you don’t need a financial advisor just don’t spend all the money in unnecessary stuff make a plan and divide the total amount between 3-6 years and then use an amount monthly to buy a cheap car enjoy life etc!
Prizes that large usually have to be claimed at the actual lottery office on the back of the card you can find the states website and an address to claim it. Always pay taxes up front so you can get some sort of refund back at the end of the year. I would definitely talk to a financial advisor. Congrats!
Go to your bank. Talk to a financial advisor. Keep some, not much, invest some and have an emergency fund in savings. See an advisor at your bank. It cost you nothing.
Go in bring your ID to your lottery office. Congratulations!🥳🎉
In 2013 I won a Jeep Rubicon. All taxes paid. It’s an amazing feeling!
Just pay taxes on it upfront
Congrats!! Don’t tell people or they’ll try to take some
Congratulations! If there is a space on the back of the ticket, sign it. Call the number shown on the back and they’ll explain how to claim your prize, and tell them to take the taxes out up front, so you dont have to deal with that later
https://youtu.be/0yrIvEgqAuo?si=B9L5SBMSajJmpyvb
Invest in an index mutual fund. It’s low risk and will earn you a decent annual return.
Bank it and use a stepping stone.
put that shit in the bank and pretend you never saw it.
Here’s my advice – pay taxes first, then you know what you’ve actually got. It won’t be much but it will be something.
Bank it for a year. Don’t touch it. Let the emotions wear off a bit. Then use your brain rather than today’s emotions to make decisions.
Take it to them they will help you do everything you need to do also I would invest in your future like college or something like that keep it to yourself if you tell people you will have everyone wanting something
Do NOT tell ANYONE! You’ll be surprised at who needs a sudden loan. Brother, sister, great aunt Ruth, who you haven’t even met. Shhhhh is the word.
Buy monthly dividend paying stocks. With 75k you could have it make you $500/month not life changing money but if you reinvest the dividends for 10 years even if you don’t add anything to it you’ll have around 177k which would be $1300/month of money you don’t have to work for. And yes you need to pay federal and state tax. Start a Roth IRA you can put 7k a year into it and any profit is tax free once you hit 60
I’m guessing you get to keep about 40k of that after taxes. It’s a great windfall but not life changing. Take the opportunity to pay down any immediate debt and set yourself up with a high yield savings account and you have an emergency fund now. Do something small for yourself. I’d get a massage, and save the rest.
This is a lot of money but also not a lot of money. It’ll give you a nice leg up but not change your life.
Cash it in, take the upfront amount and pay your taxes.
If you have any existing debts, pay them off.
If you do not have experience investing or thinking about things like investment horizon, I’d really consider a robo-advisor that will take into account investment horizon (ie how soon you will need the money). In the long term, the stock market goes up. But the long term is meaningless to you if the market dips 25% and you need cash now.
Congratulations Btw
The first things you do are get a lawyer specializing in lotto, and a financial adviser.
Then you let THEM guide you!
See the instructions on how to claim it, choose to pay the taxes upfront so you get the cash, and invest all of it into the S&P 500 and leave it there for 40 years.
After you pay the taxes open and max a Roth until the money runs out.
Get yourself a nice reasonable car, and put some in the bank. Please try not to party it away.
and as others have said, SHHHHHHHHHHHHHHHHHHHHH
Dude, assuming you don’t need the money and have a solid life plan already (even if it’s taking student loans and living like a “normal american)
I would straight up toss all of it into an index or mutual fund or something. You’ll be a millionaire by like…your 40s lmao.
Save half and spend half. Just not all at once.
Lock the savings part away where you can’t get at it for a few years. Get a fiduciary to advise.
Congratulations.
Get a financial advisor, people in the comments are saying not to but they’re not expensive and they can guide you better through investment opportunities and stock opportunities then you can guide yourself especially if you’re just going based on internet advice. But if you have a bank like Wells Fargo or just go out of your way to open an account there; they do it for free
Bet it all on bkack
Don’t tell anyone. Even our closest family and friends can get weird when they find out you’ve got a bit of money sitting around with little financial responsibilities – people may ask to loan some from you or even ask for part of it. It’s not life changing money, but it is a very nice chunk to get you started! Use it as a tool to get you where you want to go.
Pay the taxes upfront so you’re not freaking out during tax season
There are a few savings accounts you could stick some of it in and → of the bat earn 5‰.
The most important thing is have a plan, and stick to it… If it were me, I’d earmark $3k for fun money, just something you can have a little fun with get some things you want treat mom or dad to dinner, but gf some airpods whatever.
Then I’d layout $5-10k in an interest bearing rainy day fund, and do not touch it!
Then id go to financial planner, someone who has a track record for aggressive growth success; your young, you didn’t expect this $so put it to work for you, and you can be a little riskier with it. In 10-15 years the right manager will triple it for you;
Also see tax advisor– know your federal and state obligation as well as what different investment vehicles mean and how they apply to you, and what the penalties are if you go down that road and later decide to tap into them with any. I don’t recommend it, I’d save that for when you have a job and your employer is matching, but just be aware.
Good luck, similar happened to me when I was 24, and I invested 90% of it and it’s been very good to me, way way way beyond anything I anticipated, but you need to exercise patience.
If I’m not mistaken lottery winnings are not taxed by the state of California. You might want to spend some of it now, but a safe bet for the rest is an index fund. Open a brokerage account with Schwab or Vanguard; Vanguard’s S&P500 index fund is VOO.
Three things:
Tell no one.
Don’t tell anyone
ALSO do not tell anyone.
DO have them withhold money for taxes. Money is always part of an equation with time. How long until you need to actually spend the money. Will you need the money for college/education? Start off by putting the money in a High Yield savings account– I particularly like CIT band and Symphony bank. You should be able to get 3.75 to 4% interest. Let it sit there gaining interest while you figure out your next moves. ALSO DON”T TELL ANYONE, lol.
Consider putting some of the funds into a no load broad market index fund. Fidelity and Vangard are both great choices. This should be long term money NOT money you need for your books and tuition next semester.
If you have any high interest consumer debt (aka credit card debt in particular) pay that off and then lock up that card.
Take a small amount of the after tax winnings — maybe $500 and earmark that for something fun but after that’s gone leave the rest alone.
Sigh. Man, you stick it half of it in Nvidia calls, then when you become a multimillionare you come back and thank my by giving me $75k to do the same.
Don’t tell anyone except your accountant. It is not much money and everyone will have their hand out and be mad at you if you don’t share. Your taxes will probably be about $20k. So that leaves you with about $55k. That will buy you a nice car or 1-3 years of tuition. Be prepared because you will probably lose grants or scholarships for college (if you have any). Congrats!🎉
Tell no one, new bank account, pay state and federal taxes, look into maxing out a Roth IRA, and rest into savings account until you can talk to a financial advisor. Again, tell no one, and if necessary for billing, open a P.O. box and use that for mailing address
Just have someone (or a company like H&R block) help you file taxes in next year, simple as that. You should only receive about 57k cuz of federal withholding. And you’ll also have to pay California income tax. Congrats on winning 45k. That’s less than 2 years of rent 😆
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Invest. Look into crypto with utility like XRP, QNT, LINK, HBAR
Don’t tell anyone until you have a plan for the money. You may not want to tell anyone EVER tbh.
You’ll have to pay taxes. You’ll need to go to the lottery office to collect the money. Put it into an account that your parents don’t have access to. Open a new one at a bank they don’t use if necessary.
It’s a lot of money but not as much as you’d think. You can blow through that amount so freaking fast. Use it to help better your future. College, trade school, community college classes, certifications, etc.
Congratulations!
Invest it
DO NOT TELL ANYONE! Go to your bank, they have financial advisors and will help you from there. Congratulations on your win!
Invest it. Invest 80% and keep the 20% as cash. Pay back all debts. Credit cards etc. create an emergency fund and donate and upgrade.
Get a quality CPA and hopefully someone you can trust to discuss long term investing.
IMO put it away where it’ll earn interest. Your first 100k is the toughest, everyone after that speeds up. TRY not to use it if you can.
If you can somehow also keep your shit together long enough to get through college and get a decent degree and start a career, you’ll have either a awesome down payment for your first home once you have your finances in order or a great start to your retirement.
Get some financial advice from your bank. But generally it should probably look like putting it into savings and figuring out how much you want to put into a brokerage account to invest in something relatively slow growing and stable.(indexs, ETFs)
DO NOT TELL FRIENDS. Only portion a small amount into your checking account 1) So you don’t blow through it unknowingly 2) So other people don’t notice you’re suddenly spending a bunch of money.
Whatever you decide, find ways to make your money work for you instead of always working for money.
Lawyer up
Don’t tell ANYONE you won. Go to your bank. Talk to financial advisor.
https://www.reddit.com/r/personalfinance/wiki/windfall/
Once you get it, go to the bank. See if you can put it into a CD or an even a savings account with high interest and just let it roll so you can make and have more money later on.
Might help with saving for a down payment for a house or even for a car in the future.
The first thing to do is NOT TELL ANYONE!! EVER!
Pay taxes on it up front.
Then put it in the bank and forget it’s there for at least a year.
Don’t tell anyone, open an investment/ retirement account and let it ride on the S and P 500. 60 year old you will greatly appreciate it!
Don‘t tell anyone
California will take the taxes out before they give you the funds
You will have to declare the income on your tax return so get some financial advice from an expert (free advice is best)
Manage your dreams. It’s probably best to portion it out mathematically: Half on your home purchase fund; one-third on your car fund; one-third on a vacation fund; one-sixth on splurge; one-sixth on savings. That kind if stuff.
Think about the money in long and short terms and never fool yourself into thinking it will last. Plan to have something to show for it. Don’t just treat your friends!!!!
Let me hold 43 dollars
Move to a lower cost city and start a new life.
Check the CA LOTTERY website to get further directions. Just as important – don’t tell ANYONE! Keep your mouth shut if you want to keep that money, else people will run to you with their begging hands. At 18, you don’t have the experience to deal with people’s crap, so you have to be careful. At least put it into a savings account.
Go to your bank and find a financial advisor. Do not tell anyone else about it. For all they know, you won $100. The rest should be split between taxes (NOW!), investments, and necessary bills. Congrats!
U need to use the money to invest in education or training. This will be your number one investment payout. 10 fold your win.
Keep in mind you will have to pay taxes both Federal and state. You should put the after tax money (whatever is left) into a stock account and not tell anyone you have it. If you let it compound over 30 years while adding to it every month you will be very rich someday.
There are no state taxes for California lottery winnings.
If you go to your local lottery office, you can fill out paperwork and they will send a check in 4-6 weeks. You can also fill out the paperwork by mail, but I have always gone to the office for my winnings of more than $600.
The lottery will take out 25% for taxes and you will receive a 1099 in January. Depending on your other income, 25% may be too much or it might be too little.
I never tell anyone but my husband and children when I win, and I haven’t won as much as you.
Don’t tell anyone.
After feds get their cut, you’ll receive a check for about 56k. Take 6k, get your spend fix out of the way. Take the remaining 50k and put it in C.D. and don’t touch it. There’s a penalty for withdrawing any ammount before it matures, makes it easy not to touch it.
California doesn’t tax lottery winnings.
To claim it… take it to the store you got the ticket from. havw them verify the win. They’ll print you a claim ticket, looks like a powerball/mega millions ticket. You’ll get the winning scratcher back. Google the closest lottery office in your area. Take both the claim ticket and scratcher there. They’ll need both as you fill out the paper work they’ll provide. You wont get either back at this point, but they’ll be happy to make photo-realistic copies for you.
Congrats! Don’t blow it all on stupidity.
Take to the lottery office let them take the taxes out now on the winnings so you dont have to worry about. Than just put the rest in a high yield saving account or half in a cd for a year.
What type of scratcher was it please?
Put it all in on Pepe
From you-know-who…
Winning $75,000 in the California Lottery – Tax, Privacy, and Safety Guide
• Don’t rush to cash it in — you have up to 180 days from the game’s end date in California.
• Sign the back of the ticket in ink to establish ownership immediately.
• Make photocopies (front and back) for your records.
• Store the ticket securely in a safe or safe deposit box until you claim it.
• Prizes over $600 must be claimed via a Lottery Claim Form.
• For $75,000, you’ll receive a check, not cash.
• You can mail the claim form and ticket, or deliver them to a District Office.
• California Lottery is subject to public records laws, meaning your name, prize amount, and city of
residence can be disclosed if requested. You cannot fully stay anonymous in California.
Federal: 24% will be withheld automatically. Actual tax rate may be higher depending on total annual
income; set aside an extra 2–8% just in case.
California: No state tax on lottery winnings.
Example: $75,000 win → $18,000 withheld (24%), leaving $57,000. If total income stays in the 24%
bracket, minimal extra owed; higher income could mean more due.
• Avoid public announcements — no social media posts.
• Open a new bank account for the winnings.
• Meet with a CPA to plan for taxes and possibly adjust withholdings.
• Put at least 50–70% in a high-yield savings account until you decide how to use it.
• If investing, start low-risk until you have a solid plan.
• When listed, only first name, last initial, and city may appear — but full name is public if requested.
• Claim through a larger nearby district office.
• Avoid telling exact prize amount; say “a small win.”
• Consider opening a P.O. box for related mail.
• Sign & copy ticket, store securely.
• Decide whether to mail or in-person claim.
• Open a separate bank account for deposit.
• Contact a CPA before or immediately after depositing.
• Set aside $3–5K for possible tax adjustments.
• Keep quiet publicly; tell only trusted people.
• Today: Sign ticket, make copies, store securely. Research CPAs.
• This Week: Open a dedicated bank account. Book CPA meeting.
• Before Claiming: Decide mail vs in-person claim. Prepare ID, claim form.
• Claim Day: Bring ticket and form. Deposit check into separate account.
• Immediately After Deposit: Move 50–70% into high-yield savings. Set aside tax buffer.
• Within 30 Days: CPA reviews taxes, confirms how much to keep aside.
• Next Tax Season: File return with CPA, pay any balance owed, invest the rest safely.
After you figure out the process of cashing it: The advice I give you is going to get hammered by the boomer-thought giants on here, but here goes.
Not sure if they will offer you stipends, but if they do, don’t take it. Only go for the lump sum. Yes taxes will be more, but so will your spending power. We’re at the point of inflation where your dollars will buy noticably less the longer you hold on to them. Get a certified public accountant for filing next year’s taxes, and everything you earn or spend will go to them this year. Your expectations should be your only going to see about 45% of this after taxes. Let’s call it $34k. Again, you’re not going to worry about boomer investment strategies. Like your credit score. If you pay debts, its to relieve yourself of high interest loans. I like to call credit scores your debt-slave-numbers. Don’t be a well-behaved slave. So you need to think a short term investment scheme to make it grow. Anything from buying up vending machines, a Laundromat, carwash. Property ownership is tricky in CA. Or, if you want highly liquid, piles of silver. $34k won’t even buy you 1000ozs. Don’t do bonds. Don’t get an “investment advisor” and then let him talk you into bonds. Don’t do T-bills or their big cousin, Bondino. No. Bonds.
Ammunition is legal again in CA without an FFL middle man. You could do ammo-running between Nevada and Cali. You could go get yourself a CDL or trade school. Don’t buy a new car. That’s for high rollers. You’re too young to drive Uber anyway. Don’t smoke it all buying pot. Don’t go anywhere near strippers. Don’t even look at them. Sirens they are. Were I in your shoes I’d go for my precious metals idea, because they’re precious to me. My precious. But I’m just a disgruntled vet that lives in a cabin in the woods with too many guns. Maybe build a state of the art composting and gardening area and grow your own food. Feeding yourself less store bought garbage is a great look. Good luck.
Taxes first. That’s typically abt 40%.
Get an HSA set up, put the max in. There’s $4500 of it already.
Start stacking metals–gold, silver, platinum–but only buy from reputable sources.
Next year, put $4500 more in that same HSA. You now have $9K for healthcare needs.
If you are still on parents’ insurance, don’t touch the HSA.
Invest it a diversified ETF that tracks the stock market and forget about it.
Congrats!!
Where to claim it should be on the back of the scratcher. Do not go back to the shop where you bought it.
Don’t take financial advice from the internet in general and not from this sub.
Don’t take financial advice from the bank.
Put the money in a back account and educate yourself about finances. Read lots of books from very wealthy people only. Tony Robbins has a big book about money. Kyosaki is helpful, too. After that make your own decisions how to make your money work for you. If you are smart about it you can give yourself a very good basis to a worryfree future.
Do not tell anyone. They will try to get some or even all of it.
I wish you all the best. Maybe update us when you claimed the money. How it went and what your plans are now. 🙂
Hookers and blow
You’ll be lucky to get half of that after taxes. Probably save it for something bigger down the road, like a house or something. Congratulations on the win.
Double it at roulette table…..
Jk plz invest
Don’t tell anyone.