How Should a Lotto Winner Handle Their Money

You’ve been playing lotto for years, and have been fantasizing about winning huge amounts of that life changing money, and now it has finally happened, you are a lotto winner! But, what now? How should you behave, what should you do with your money?

Now That You Are A Lotto Winner, You Should Know This

You’ll probably say “Oh, that’s easy”, but you’d be wrong. Sure, it might be easy to spend it (depending on the amount you won), but the question is, how to be smart about it. It’s also very possible you don’t even get many good ideas in general; after all of these years dreaming about it and living sparsely, once it finally happens it might be quite overwhelming. Well, that’s why we are here: and we brought help – other lotto winners.

Just think about it. What would you really, pragmatically and step-by-step do if you’d won, for instance, one BILLION dollars, just like one happy person did at the beginning of this year, or perhaps the main prize in El Gordo, which also is a very impressive amount? First of all, would you choose a one-time payment or annual payments? Those are all valid questions when you become a lotto winner, so you had better start thinking about the answers.

Before You Bathe In Champagne…

While you do that, we’ll tell you what would be the smart thing to do (besides bathing in a pool full of Dom Perignon). First of all, don’t be scared of a lotto curse. Stories about people who were “cursed” after becoming filthy reach due to a lottery win are nothing other than stories about people who couldn’t handle their money. So, good thing you are here.

Secondly, don’t forget to cover the basics first: don’t forget that you will still need good people around you, because money isn’t everything, so just skip becoming a douche. Also, don’t forget that, even though your winnings may be very big, possibly even incomprehensible, they probably won’t give you a bottomless pit, unless you make sure it does.

In other words, after you’d paid off your debts if you have some, it would be a good thing you invest a portion of your money. There are some quirky suggestions out there, but if you are completely new to big money, it would be wise you ask for some help: a regular financial adviser would do, or if you can’t help but be lavish, you can always pay to meet someone very successful with money: Richard Branson, for instance, would be a nice someone to pick their brain.

Smart Investments

Another good idea would be to invest in your kids if you have them. Set up trust funds, college funds, or whatever other funds your financial adviser suggests. They would probably say you invest into blooming businesses, sports teams, technology, cryptocurrency, hedge funds or stocks, but you really shouldn’t be doing that on your own: now that you have the money, pay other people to make more money for you.

After you cover that boring stuff, though, it’s time to have fun: buy houses for yourself (that’s another great way to invest) and don’t forget people who have been nice to you through life. Buy cars if you’re into that kind of machinery. Dig deep into your childhood and release your tucked away dreams: go traveling (maybe to space with your buddy Branson), get a crazy hobby (or should we call it “a new way of life”), get a personal shopper, a chef, a trainer, a private jet, an island, or whatever else rocks your boat.

What Goes Around Comes Around

At the end, don’t forget to do some good, too. Find a charity or a cause you’d like to help, and offer the hand to those in need. What goes around comes around, plus all of the wealthy players do it, and now you’re part of the gang.

All that’s left to do now, is play and win. Do it today!

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