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Money
Home›Money›A Whole New World Of Winnings – Some Tips On What To Do If You Win The Lottery

A Whole New World Of Winnings – Some Tips On What To Do If You Win The Lottery

By Caroline Shaw
August 23, 2017
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“You did it! You went against all odds and you won!” It seems like a sentence that you never expect to hear when it comes to winning the lottery, but it’s possible, the next jackpot could really be yours. Whether online lottery, usa lottery or whatever ticket is in your hand, an inconceivable check could be yours at any time. Heres some tips on what to do if you win.

Let it sink

Just imagine, you’ve seen the final digit and you’ve hit the jackpot, all the emotions come rolling in at once and before you know it you’re thinking of migrating and have already got a list of cruises and bucket list shenanigans ticked off in your head. Don’t let the rush of emotions take you overboard and headlong into things that you wish you never got yourself into, but take time to think. Before cashing into a load of luxuries and sacking off your job and ordinary lifestyle let things simmer for a few months, weigh up all the options and opportunities that you could have and consider whether it’s the life style change you’d really want to lead. Think rationally aswell: are there any debts you need to pay off? If you’re not so clued up on how to handle money, would you potentially need a financial adviser? Take measures to examine how you can use your winnings wisely, then gradually make that transition.

Investing the money

It’s a wise choice investigating the proceeds of your winnings. What better to win a great lump sum of money and because of investing,  never worrying about going broke again (as has been the misfortune of some). Keep the cash flowing in and your future secure. If however you chose to take the option of having your lottery winnings paid out in 30 installments over 29 years, you may not get the opportunity to invest as successfully. Be careful not to get yourself bound by failing investments, but research and get advice on the best stocks to invest your money into.

Stay behind the scenes

Have you heard the saying ‘more money more problems’ well that certainly is true in some sense and it can definitely be a big issue if everyone finds out you’ve won the lottery.  There’ll be charities begging you for checks, long lost family members behaving as if they’re your closest relatives and scams hitting you from left, right and centre. Try to remain anonymous, change your number, your email and even your address if necessary. It may seem drastic, but it saves you the hassle of being constantly hounded for help before you can decide what you want to do with your cash. Family and charities are definitely rewarding things to invest into, but it’s down to you as to who and what you’ll splash out on.

Do something crazy

It’s not always strict rules and regulations when winning the lottery. If there’s ever been a time to have fun, now is the time. Fancy a trip to the infamous Icehotel in Sweden where you can wet your whistle with mind blowing cocktails, bungee jumping from the Macau Tower, getting a breathtaking view of the Big Apple from the world renowned Empire State Building, or maybe you just like the thought of sleeping on a bed of money with a masseuse to the ready, it’s all possible now. Whatever tickles your fancy go wild for abit, enjoy what you’ve won.

Tagsfinancelifestylelotterylottery winnermoney
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