How to stay rich after winning the lottery?

winning the lottery

Winning the jackpot opens a new blank page. Playing the lottery online and winning is far from the end of the story. On the contrary, the hard part is yet to come, because this wealth must be protected, preserved and increased. Lotto millionaires often go on the fast track to spending and after a few years find themselves on the brink of bankruptcy. This happens because they lack financial culture, patience and self-control.

That’s why we decided to provide you with some tips on how to take care of your fortune if your favorite lottery rewards you with the big jackpot. In the meantime, you can quickly and easily check the latest 6/49 lotto results and your other lottery favorites on our platform.

Hire a personal manager

Falling from a big height hurts the most. Yes, no one is safe from bankruptcy and losing money, but you will probably agree that winning the lottery is not exactly a business that has a history, customers, physical assets and employees – and therefore could be revived from scratch. Left alone with piles of money, lotto millionaires often get confused and don’t know what to do. The logical way out is to buy expensive properties, yachts and cars, but over time these purchases depreciate and require maintenance that can be expensive.

That’s why you need a personal financial manager to advise you on what is really worth investing your money in. If it’s a property, let it be in an up-and-coming area, not a remote holiday home where you’ll go a few times a year. If it’s shares, let them be of a company with a good reputation and a stable market share. The personal financial manager will keep track of your expenses, evaluate potential investments and take care of all documentation, bank payments and legal procedures. This way you will be sure that you will not be cheated by dishonest traders.

Build a hedge fund

Determine an amount of profit to set aside in a special emergency fund. Banks, for example, have such vaults. This money will be a kind of insurance – the idea is to use it as last resort, maybe decades from now. Instead of cash, you may hoard gold or jewels so that you don’t have to fear that inflation will devalue your money in the future. Of course, the amount depends on your personal preference, but it should cover your expenses for a minimum of 3 to 12 months.

TIP: Check also our article about the Mahzooz Lotto in the United Arab Emirates.

Create something that will make you money

Turn money into a working business. Build the company you think you could run and secretly always dreamt of. Open a restaurant, cafe, gallery, spa – whatever you like, meets your interests and hobbies or has good prospects for development. If running a company is not to your taste, then start investing in stocks, funds and securities. The best strategy is to develop at least three sources of income so that your money doesn’t “hang” from only one branch.

Remember – money has to move because if it stays in one place for an extended period of time, it decreases. Also, let us remind you that on our platform you can check the results and winning numbers of Eurojackpot and other international lotteries with a colossal prize, as well as join the next draw. It might just be your shortcut to victory.

Put a stop to spending

Even if it reaches tens or hundreds of millions, the jackpot still has a limit. Don’t lend money on a whim. Forget the risk that you may never get them back. The bigger problem is that the amount will depreciate over time. That’s why it’s important to set a limit on your monthly expenses, including the donations and loans you give.

The costs are difficult to understand, that’s why in Bulgaria we also remember cases of rich people from the lottery who bought a Ferrari and then ran out of money for tires and fuel. So do your math very well. If you are going to buy a shiny vehicle, calculate its costs for maintenance, registration and extras in the salon. If you are going to open a company with dozens of employees, calculate the costs of wages and insurance, taxes, bank fees and overheads.

Think rationally, not hastily, and don’t give in to emotions. Financial affairs require a cool mind. Therefore, always calculate how much something will cost in total and analyze whether it would be better to not do it. And if you need fresh inspiration and motivation, read our article on the top private islands of billionaires. The jackpot awaits you! We already know you will be a responsible winner.

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