Seven Tips for When You Win the Lottery

Due to legislation coming into effect in 2019, we can no longer offer lottery betting and as such some content may no longer be relevant.

1. All Good Things Come to Those Who Wait

Try not to make rash decisions as soon as you land the big one. Take your time and plan your new life rather than jumping straight in. Think about what you would like to do with your newfound wealth and how best to maximise it so that you can enjoy it for the rest of your life – not short term. It is always worth considering taking counsel from professionals to plan your finances.

Like we say time and time again; if you want to win the lottery you need to be patience and persistence. If luck smiles on you and rewards you for this then you don't want to mess things up by throwing your patience out the window. 

2. Seek out Good Advice

For each of the decisions that lie ahead there are people who can help you. There's going to be a lot of uncharted territory out there on the horizon, which is certainly exciting, but with that comes issues you've never had to deal with before. So make sure you get the best advice from the top financial and legal consultants – remember you can now afford it! Let them explain to you in great detail of how best to invest your money. 

3. Let Your Money Work for You Now

You're rich, so start acting like it. The rich don't spend money, they invest it. So, to get things started take out a short-term investment for your winnings. This way you can earn even more money while you take the time to plan your long-term investment plan. Don’t forget each investment plan will not be tax-free – so this is where your team of crack lawyers and accountants come in. 

4. The Circle of Trust

Do not tell anyone of your income aside from your immediate family, as those closest to you are the most unlikely to exploit your new fortune. In any sphere of life, newfound wealth brings false friends who just want to benefit from your good fortune. Spoil the people who you can really trust and ignore the scammers, vultures and haters. 

5. Giving Is Better than Receiving

You now have significantly more resources and opportunities to help more people than ever before, so spread the joy. Take time to think carefully about where you can really make a difference with your money. Make sure that the donations you give really benefit the purpose for which they are intended – again it might be wise to consult a professional here. Not only that, as your financial advisors will explain, charitable donations also qualify for tax relief so instead of giving more money to the taxman you can instead give more to those who deserve it. 

6. Enjoy Your Happiness

Enjoy your new financial independence. Of course although you must plan for the long term there is no harm in treating yourself to something that you have always dreamed of. Just make sure that the treat is not too lavish to begin with. That way you ensure that all your other wishes will come true in time if you spend your money wisely.

7. Write a Wish List

Unlike everything else this step is something you can do before you strike the jackpot. Indeed you may already be doing it now. You can then revisit this after you win. Reflect upon your life before the win and what you needed to do with your income before your lotto win. Make yourself a priority list and assign your most important goals at the top. Tick them off one by one after you become a lotto millionaire so you are secure for the rest of your life and then enjoy the rest of your life with your jackpot!