You’ve been dreaming about it for some time now, maybe several years. And you’ve finally won the lottery, a pretty big amount of money. It’s all yours, you just have to find your winning ticket and submit it before getting rich. Yet, you’ve never actually thought of where you would spend such a huge amount so suddenly.
Well, there are some things you should do before spending, and a lot of ways to spend your money, both thoughtfully and carelessly. We’ll let you know the main steps to secure your winnings and then take care of them for your entertainment.
What to Do Before Spending
- Make several copies of your ticket from both sides, in color and black and white. You should have proof that you’ve actually won and the copies in case you lose your initial ticket, someone steals it or the lottery decides to scam you.
- Hire the best professionals that know how to deal with big sums of money, be that lottery and casino wins or inherited cash. You’ll need a lawyer, an accountant, and a financial advisor. Don’t deal with banks and lottery until you hire them, they will do everything for you.
- Make sure your privacy is guaranteed. Set up a new P.O box, new phone number, and email address and make all your social media accounts private/closed. Don’t talk about lottery a lot and make sure to get an anonymous bank account to secure and receive your money from.
How to Spend ?
When you’re done with basic preparations, you can start spending your money. Only you can decide how to get rid of your money, and if your plans are wise or not.
Forget About the Debt
The first and best advice to give would be to pay off all your debts, be it the money your friend gave you for a trip or an amount for your or your child’s education. Contact everyone who you’ve ever asked for money from and let them know you can now give it back. Then, you’ll be able to do anything you want without the pressure that you’ll be broke and back to debts soon.
Invest a Big Amount
In case you want your money work for you and your future, you can invest it and even trade with the big amount. First of all, the simple variant of investing would be to save for when you get old, for retirement purposes. Then, it’s also possible to invest in:
- real estate;
- gold estate;
- cryptocurrency;
- stocks and shares;
- mutual funds;
- investment bonds;
- 401(k).
Think of a Business Startup
Aside from winning the lottery, most of us have always dreamed of opening our own business like a restaurant, a specialized shop or traveling agency, and some have thought of making their idea work in a medical or educational sphere by testing and research.
Today is the day. Doesn’t matter if you looked into details or just had a dream forming in your head, now is the time to start researching and gathering information about your type of startup. In case you don’t know what you would love to do, here are some ideas for you:
- create a marketing and design studio;
- open a themed café or restaurant;
- create a YouTube channel and spend money to promote it and get viewers;
- take up an online store for clothes or electronics;
- invest in medical research and so on.
Donate to Charity
Do you want to do something nice and helpful for others rather than for yourself and your family? You should try and donate to charity. While it sounds easy, you should know the main steps for that to become an effective way of help.
- Research before donating. Find what you’re interested in, and research organizations with that theme. Then, look at what they do, what kind of impact they are making and how your amount of money can help in particular.
- Choose 5-10 organizations you prefer. After talking to representatives, it’s best to have a smaller amount of organization you want to donate to. Don’t go overboard or it won’t help anybody.
- Volunteer yourself and involve other people. If you really want to help, don’t only throw money everywhere but take a break and go help with your own hands. That’s what makes the real difference. It’s also effective to pay for ads.
Open a Whole New World
Even if you’ve never tried traveling or had the money to, you should try and explore the world as much as you can while you have the funds to do that.
- Go on a vacation. Are you looking to visit only one spot and have fun there? Maybe you crave a new city that will lure you in with crowds of tourists and huge streets or a perfect vacation spot with hot sun and clear blue water? Then, take a break from work and book a flight to the best destination you can think of, for example, Hawaii, Rome, Paris, London, Las Vegas or Puerto Rico.
- Move to another city or country. Do you have a bit more time in your pocket and you really want to feel how people live in your favorite place? If you’re tired of your own place and nothing is stopping you, you’re free to move to any place you prefer. Take a look at a busy life in Tokyo and have fun in the manga aisle of the Japanese mall like you’ve dreamed about since you were a teenager. Or you can also strip yourself of the unnecessary and go seek relaxation in India while communicating with animals.
- Travel all around the world. Most prominent way of traveling is to plan a trip all around the world. You might not see all the cities and places our planet Earth is full of, but you can include everything you’re interested in and travel for a long time, be it a month, several months or even a year, depending on how long you’re planning to spend in each city.
Feel the Luxury Life with Domestic Staff
Think about a bunch of movies you’ve seen where all the expensive villas are full of domestic staff like a personal chef, a butler, and housekeepers and so on. Now it won’t be a dream from a movie anymore.
If you have small children, you can hire a nanny to take care of them so you have more time for yourself. Then, all the cleaning services can be done with a housekeeper, and your personal chef will prepare the best dishes for you when you wake up and come home from work.
Do you want your closet and other rooms to be well-managed? There are people trained just for that, they will help you get rid of old pieces and manage the ones you still like to wear. As you can see, there are a lot of ways to spend your cash when you think about what to do with your money after winning the lottery. We hope you will benefit from all the new exciting things you experience, travel a lot and start your own business or just save money for . Good luck.
