Investing Your Winnings

A recent lotto winner told reporters that he planned to invest his $25 million win on the EuroMillions in carrots! This lucky 74-year-old farmer has plans to hire a carrot growing expert to get him started.  

He commented whilst tending to his home grown plants at home: “I’ve been trying to grow carrots ever since I’ve been on that [garden] and I’ve never had any success.”

Investing your win is a good step to ensure you can gain a lifelong benefit from your win.  Here are some tips:

• Firstly enlist the help of a financial adviser. A financial adviser can give you independent advice on how to spend your money.
• Initially only make small purchases. You may have had a dream of a luxurious holiday home but by taking your time you’ll be able to shop around and get the best buy.
• Make sure you pay cash for purchases. This avoids you buying more than you can afford as the winnings can dry up very quickly if you don’t make smart choices.
• Invest a certain amount of your winnings. This way your winnings can continue to earn you cash. Again get recommendations from a financial adviser and shop around for the best deals.
• Splash out on one guilty pleasure! It’s important to spend wisely, but you’ve won the lottery after all, so you deserve to make at least one dream purchase! It might be jewellery, a holiday, or an investment in property.