Imagine you’ve just come into a great deal of money. 50 million Euro, for example. Most people would have no idea what to do with so much money after an online lottery win. Let’s be real here, would you? Buying a house or a boat is an easy decision to make, but what would you do with the rest? You can’t blow it all. You will need the advice of experts to help you invest in the right portfolios so that you can extend the life of your money and build your wealth.
There many opportunities for investment when it comes to your lottery winnings, but which ones are the best ones for you? We’ve compiled a list of a few potential investment opportunities for you.
Improve your pension
Before you do anything, you have to make sure that you are properly prepared for your retirement. You want to make sure that even after all of your spending and investments, you will have enough money to have a secure financial future for when you retire. Even if you already have a pension plan, it doesn’t hurt to improve it!
It’s especially important for your money to last a long time if you win the lottery at a relatively young age. In addition to automatic monthly pension payments, you should also arrange a private retirement plan. This is also known as a retirement annuity. You can deposit monthly, or even deposit a portion of your winnings as a lump sum towards your retirement. That way, you have the certainty that you can still live in your big, luxurious house up to your old age and still be able to spoil your children and grandchildren. This is where getting a financial adviser will make the world of a difference.
Clear your debts
Only lottery winners who are secured can enjoy their new lives. If you have a car, house or study loan, it's best you pay those debts off immediately. That way you can avoid the unnecessary monthly interest and also have fewer things to worry about and keep track of. It’s one of the best feelings you can have if you pay off your house in a single transfer. It’s liberating! It then allows you to tackle your next projects in a very relaxed manner.
Invest in Property
It’s fun to spend your winnings on things like a new car, watch, or fancy clothes, but keep in mind that these are items that depreciate in value over time. We’re not saying you shouldn’t go on a little shopping spree. Of course, you should! But make sure to leave enough money in the bank so you can invest in property because this is one of the few things that increase in value over time. A house can increase in value significantly, especially if you buy it cash so you can avoid the interest.
There are many valuable items that increase I value. Wine is something that belongs to this group along with valuable art collections and jewellery. The list is long so it’s best you get together with your financial advisor to discuss which things are worth investing in.
Invest in equities
If you want to earn money on your shares, it’s best for them to be in the stock exchange. The game of the stock market is very speculative, which is why there is always a high risk of losing a lot of money. That’s just something you have to come to terms with. Experts recommend you spreading your bets and diversifying your portfolio in things that won’t lose their value, and investing in things that will show you a return in a short turnaround period.
That way, you can safely park your money in the stock exchange and withdraw it at a much later date once it’s made a profit. For example, if you had invested in shares in Apple in Amazon in the early 90s, you would have been very, VERY rich today.
Invest in companies
Many lottery winners build their own company or foundations. Many winners have also bought their own sports clubs or invested in local businesses to help their community grow.
If you’ve always dreamed of getting into the fashion industry, then why not start your own clothing label? If you love ice cream, then why don’t you open your own ice cream store? Just because you won the lottery, doesn’t mean you have to just sit at home and do nothing all day. It’s important to keep busy otherwise you’ll get really bored and end up spending all your money instead of making more of it.
You see, you can’t lose if you invest your winnings wisely. Simply make a team of the best financial advisors in the business and create a plan covering all the important areas of focus for you. This way, you can pay off all your debts and bills and still have money left over to grow your assets.
Play the lottery online today! You could win your very own lottery jackpot and have more money than you could dream of to invest! You’ll never know if you don’t try.