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Dreaming Of The Big Jackpot? This Is How You Should Handle A Huge Jackpot Win
By Doctor Who Online
 

Obviously, you always dream of winning a jackpot. In October 2019, a lucky person won the crazy amount of £170m on EuroMillions. What if your dreams come true and you actually win? What would you do? There are numerous stories of people who won millions in jackpot, went on to blow away the money within a short year, and were reinstated to their initial position. It should not be so if you read a guideline from organisations such as Gamstop that will help you in such a scenario.

Think first before you do anything

This statement sounds like a platitude, yet so essential. Remember, you might have won multi-millions, but this does not guarantee you in any way that you will live happily thereafter. It depends on how you plan for the amount that you receive. The triumphant feeling that you have should not deceive you. You still have to plan appropriately. Think about what matters as you can be tempted to overspend and finally blow the money.

Anonymity

Some people say that if you win a lottery, the first thing that you will have to purchase is a padlock. Funny right, but this helps to convey a fundamental concept. You should always stay anonymous at all times. The biggest mistake that you can make is to go announcing that you have won the lottery. This has in many cases proven a huge mistake, sometimes even fatal, to previous jackpot winners.

Hire a financial assistant and legal team

Most of the people who win the lottery probably have never won such a huge sum of money. They tend to overspend and in the long run, they join the list of many jackpot winners who reverted to their initial life after winning the jackpot. In some cases, some frivolous people want to get money from you. With the two teams, you can avoid spending the money haphazardly.

Lump-sum or the annuity

You will be given two choices once you have won the lottery, you could receive a lump sum or an annuity spread over some years. The best advice would be to receive an annuity. With an annuity, you still get a good sum of money, which is spread out over long years. In the process, you get accustomed to having a large sum of money and can learn to invest. Hence avoiding careless spending.

Avoid the urge to live a lavish lifestyle

Its human nature to want to leave a luxurious life after earning a huge sum of money. Resisting the urge of overspending could help ensure that you can invest the money and not lose it after a few years. Resist buying the most expensive couches, cars, or televisions. They can come thereafter after you have invested the amount to generate an extra income. It is okay to do it later when you have an investment.

Sign up for Gamstop and skip the non-Gamstop casinos

It’s natural that greedy comes into people who won a lot of money. When you first win, you feel it’s unbelievably much money but when the money starts to disappear on new house, new car etc you will start to feel desparate. Since you won once – you can win again right?

The likelihood of the bolt to strike two times at the same place is crazy small. So our recommendation is to exclude yourself from gambling using Gamstop and skip playing on the non Gamstop casinos based offshore. That will save you some sterlings.

Avoid handing out cash to friends and relatives

If you win the lottery, that is when your friends will come in full force requesting some money from you. Yeah, there is that urge. However, guess what - this can be devastating in the end. Do not feel obligated to help your friends. Instead, you should even become meaner as you focus your goals on investing the amount. If you help too many people, you might find yourself with no money to invest.

Though winning a lottery is never easy, you never know it might be you winning this week. You should be prepared for it. At least that is what successful people do. In the end, they get more than their fair share. You, too, should be prepared if you win the money you should do with it. There are many instances where people who won a lottery went ton to live a miserable life.


© Copyright Doctor Who Online, 2020.
Page Updated: 9/6/2020

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Added:
9/6/2020

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Doctor Who Online

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