Big fat lottos: how to spend lottery winningsThere are some studies that show nearly 90% of those who hit major lottery jackpots – we’re talking
about hundreds of millions of dollars here – end up losing all of the money (yes, ALL of the money) in
five years or less. These same people almost always end up in worse financial situations than they were before they won the lottery, and almost incomprehensible fact that rocks people to their very core.
If you are lucky enough to pull out a golden ticket, the last thing that you’re going to want to do is frivolously spend each and every penny of it along the way. No, winning the lottery has a very real potential to completely change your life – and even the life of future generations of your family – so long as you spend your lottery winnings wisely.
Now, we’re certainly not going to tell you how to spend your own money – but here are a few helpful hints from BigFatLottos if you are in the mood for some advice.
Big Fat Lottos recommendation #1:Set a “mad money” budget – say a few hundred thousand dollars – and then blow it all on celebratory gifts!
Look, to say that you should sock away each and every one of your pennies at the moment that you hit
it big on a lottery would be the most foolish thing in the history of the world. Hitting a windfall profit like this is going to transform your life overnight, and you should – yes, SHOULD – go out and celebrate this tremendous gift.
That being said, you do not want to break the bank when celebrating, which is why you should set a very specific amount of money aside – but still a tremendous amount of money – and then blow it all on whatever it is you want. Having this chunk of discretionary money set aside already will help you to save or invest the rest, and you won’t feel bad about blowing it in the process.
Big Fat Lottos recommendation #2Do not – DO NOT – save your money, but instead invest it
One of the biggest mistakes you could make with your lottery winnings would be to suck them away in a savings account somewhere. With the way that inflation rates are that money will be worth less and less each and every single year from here on out, just fading away and crippling your buying power in the process.
No, talk with a number of financial experts and find out how you can invest that money – and make it
create more wealth for you and you ever before imagined.
Well, that's it...short and sweet. For more info on Big Fat Lottos and payouts, see our website at http://www.bigfatlottos.com/