Many people’s fantasies center around the possibility of winning the lotto jackpot. Have you thought about what you would do if your winning number is drawn? So, you check Eurojackpot results and realize you hit the jackpot; your first inclination may be to cash the ticket as soon as possible, but you should hold off. You need to be ready for the rapid changes when you claim your jackpot. Before you make any hasty decisions, familiarize yourself with the top things to do as a lotto millionaire.
You must safeguard your winning lottery ticket before doing anything else. You will be right back where you started if you lose it and can’t show you are the rightful owner.
To be safe, you should keep at least two copies of the ticket on paper and another in an encrypted cloud storage service or on an external drive. If you can’t keep the ticket under your mattress, a home safe or lockbox is a good investment, as is a safe deposit box at your local bank.
If you win the lotto, don’t immediately go collect your prize. There are two reasons why that is essential.
First, claiming your ticket within a week of the announcement risks causing a bigger commotion than is necessary if your prize is large enough to draw media attention. Second, and probably more crucially, you’ll have plenty of time to prepare for whatever comes next if you wait at least a week to claim your award.
If you want to wait longer than a week, you should be able to. Check the issuing authority’s rules to ensure you have as much time as expected to claim your lottery prize (typically six to twelve months).
Investing in legal and financial experts is one of the smartest moves you can do right now when you play the lotto online and win. If you win the lottery, consulting a certified financial planner can help you figure out how to put your money to good use. Helpful in determining whether a lump sum or annuity payout is preferable, as they may advise you of applicable tax thresholds. They’ll also offer tips on how to live comfortably while saving for the future. A lawyer is useful to have on hand in case a claim or lawsuit is filed against you.
Pay off your debts before allowing yourself to relax and enjoy life. When you check the newest lotto numbers and see you won the jackpot, what next is to think about how to clear your debt. Until you pay it off, your debt will continue growing and cost you more. It would be best if you focused first on paying off your high-interest debt since it accrues interest at the fastest rate. Then, settle the balance of your outstanding bills. Interest is the rate you reimburse yourself, so that’s how you should think. Payments like cars, houses, and education loans all fall under this.
It may not sound appealing at first, but can you picture how great it would be to own all of your possessions outright, with no outstanding loans or mortgages? The most important thing is not to use your lotto winnings to take on any additional loans.
You won’t be able to escape people asking for something once you’ve claimed your reward.
The investment advisors and lawyers with dubious ethics will be joined by distant cousins, long-lost friends, college roommates, and even former co-workers from five previous jobs.
A low profile won’t stop the flood from happening, but it will be easier to deal with if you prepare for it. If you want to:
Immediately get fresh, non-published phone numbers for everyone in your immediate family. Your previous contact number may still appear online, but it will no longer be active.
Since so many sites collect and distribute contact information about people in the United States, it might be challenging to remove your address from all of them completely. Nonetheless, if you use a post office box as your main address for all mail (including bills), you can make it less likely that you will appear in a simple search. Remove yourself from social media and change your email address.