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Tactics for Spending Lottery Prizes

Posted in Sport News  by admin
December 12th, 2012

Few people will ever be faced with the conundrum of how to spend or save lottery prizes. Many potential winners contemplate the luxury and freedom of a life after winning a lottery. Those who win must deal with the difficult task of allocating their new resources, which may be vast. Here’s a brief overview of a few different tactics.

Blow It

Possibly the most exhilarating way to treat a massive lottery prize would be to spend, spend, spend. This is often a route that is inadvertently chosen by people with poor saving/spending habits. In their pre-lottery life, they probably spent until there was nothing left, focused only on the present and never saving for tomorrow. Post-lottery, they continue to do the same thing. A different spin on this scenario is to intentionally set out to spend all the money in an extravaganza of luxury and whimsy. Sure to put you right back where you started with a pile of new toys.

Save It

For those who are fixated on financial security, this is a more attractive course of action. They put the money away and continue on with their lives, showing up for work as if nothing happened. This happens more often than you might think. They might just put it all away in a savings account but if they’re savvy they’ll make some investments so they can live off the dividends.

Invest

Of course, this goes right along with saving the money and is the best way to make that money grow beyond imagination. From stocks to real estate or venture capital, there are innumerable places to invest and legions of professionals ready to help steer you in the right direction and a few sharks ready to take you for all you’re worth.

Healthy Compromise

Most people would probably fall into this category. They might put some of the money away, invest some, and splurge on a fancy house or an around the world vacation. Making huge changes in one’s life after winning the lottery can be morally disorienting and lead to some unsound financial choices. Most people are better off staying the course and using their new fortune sparingly.

Give It All Away

This is probably the hardest to do and also the best thing for the world. Worthy causes that aim to heal the ills of the world surface everyday and they need money to make it happen. The donation of a massive lottery prize is more money than many non-profit organizations see in their lifetime. Could you give away a huge prize to charity and forget it ever happened? It would be difficult.

Of course, the difficulty of such a quandary is one that people are still eager to sign up for. A fast and convenient way to do it is with Euromillions.com.

The Euromillions lottery has been around since 2004 and has made many winners happy with generous lump sum prizes. Euromilions.com is simply opening that game to a worldwide audience and making it easier than ever to play and win the lottery.

Players can get started by following the instructions on the website to get registered and purchase a ticket. After that, Euromillions.com will handle the rest. From notifying players of the winning numbers to depositing prizes into winner’s bank accounts, Euromillions.com does the work.

Players can win prizes in 13 categories, starting at a few Euros and topping out with the jackpot, that is limited to €190 million.

If you won the jackpot, how would you spend (or save) it?

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