And although the desire to help those around you is a noble one, it is also one that can easily backfire if you are not careful. This is an opportunity to claim permanent financial freedom. Well, first, they want to get rich fast. Creating an investment plan is necessary and talking to a Registered Investment Advisor and Certified Financial Planner is a must. If you’re living in poverty and you can now buy food and not worry about getting by, that’s a big jump! Buy savings bonds. Of course, some things do change when we have more money. However, above it, many people experience more unhappiness too. If I win the lottery I would save and invest for my financial future. Prefer to buy income generating assets, like stocks and real estate rental properties. After all, most lottery winners are instantly wealthier than everyone they know combined. Over the coming months, you may need to set new boundaries, such as: It’s a lot to take in after winning the lottery! Money tends to increase whatever is already present in our lives. While winning the lottery can be euphoric at first, winners often end up broke. Below that people’s happiness drops. Notify me of follow-up comments by email. Guide: If you want to invest your money (lottery winnings), try these; (a). Before we talk about what to do after winning the lottery, and what we can learn from it, let’s just talk about money. As a guide, use the rule of 72. Source: Getty Images People who come into large sums of money end up bankrupt - here's why. The asset allocation is the proper distribution of your investments depends on your age, risks appetite and financial goal. Remember, you are always in control of what you choose to do. Example, instead of giving them money, I would rather buy a property for them like house and lot or car. Don’t make huge decisions during this time. Also, consider creating your own standard policies that can be applied to financial requests. That is why it’s important to evaluate what people have been in your life before winning. Put your lottery winnings in investment accounts like stocks, mutual funds, etc. (Use rule of 72). This conundrum can undoubtedly put recent lottery winners in an awkward position they are not used to experiencing. When people know and understand your rules up front, there will be little room for resentment in the future. The guides are as follows; 70% will invest for my family’s financial future. In order for this to work, you will first need to create an email address or obtain a dedicated P.O. It won’t hurt you, besides it will heal your pocket and achieve financial freedom, that’s permanent. A whirlwind is about to happen and your life is changed forever. But the most important thing to note is that if you choose to adopt this approach, you should adhere to it 100% of the time. Question #5. Hey, don’t forget to share your money to in case you win the lottery. If i win the lottery can i give money to my family?

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