Did you know that the lottery is one of the most popular entertainment sports in the world? People, young and old, rich and famous spend a fair amount of their pocket money on lottery tickets every now and then. Their motivation is not just winning the big prize money. For many, the lottery is a great way to spend time with friends and family.
Lottery organizers spend so much money on marketing their event that lotteries become the talk of the town. Especially around Christmas break, almost everyone is talking about the biggest lottery event in the country. Lottery games like El Gordo in Spain, Oz Lotto in Australia, and Powerball in the US attract millions of players every year. The luckiest individual in the game is one who wins the jackpot prize which can go as high as $100 million and more.
However, the story does not end after the lucky draw. In fact, lottery winners get some amazing surprises soon after they get back into their lives after digesting their great wins. Here is what lottery winners have to say about their surprising experiences after their jackpot win:
You do not Have the Same Friends Anymore
As soon as you win prize money which is more than $100 million, you come across many different ideas for investment. Generally, people want to invest their newly acquired wealth into Gold, and real estate, they want to travel to some exotic destination and eat out at restaurants that they never thought they would. In all this excitement, lottery winners soon realize that they cannot hang out with the same friends anymore.
A bartender may not talk much about mutual funds with his colleague, or a banking professional cannot ask their co-worker to join them on a luxury trip to the far-east. Hence, one of the most notable difference winners experience in their lives is the new social circle they become part of.
People Don’t Consider You as a Millionaire
Many lottery winners have reported moving into a different neighborhood that comprises of the rich and famous. Since they had all the amenities available at the house, they decided to through a lavish party for their neighbors. Surprisingly, no one turned up for the event. Later, they found out that everyone in the community believed they were not the ‘real’ millionaires.
You Get Calls from Long Lost Friends
Many winners suggest that you should not announce your winnings to everyone except your close friends and family. Although a millionaire status can earn you fame, it attracts unwanted guests as well. A person who won a jackpot prize in one of the world-famous lotteries explained how one of his friends called them explaining how he was in so much debt and lagging behind on the mortgage payment. After doing a little research and checking out the friend’s tax profile, the lottery winner realized that the friend did not seem to be overburdened with debt at all.
Therefore, it is quite important that winners of jackpot lottery do their due diligence when distributing their wealth amongst their loved ones. You would never know who has a keen eye on your newly acquired wealth.
It Never Seems a Lot
In the public eye, lottery winners are the richest people on earth. But when you visit a jackpot winner who won $100 million in the lottery a year later, you realize that they may be hanging with billionaires. If you ask them if they feel rich, then you should not be surprised because compared to the people around them, they are hardly above the water. The smartest lottery winners are those benefit others from their wealth and invest wisely so that they can preserve their prize money for long.
Laws You Never Knew About
When you win a lottery, the organizers have to pay federal taxes on the prize money before they can distribute it to you. Therefore, if the organizers advertise a lottery jackpot worth $100 Million, it is not necessary that you get the total amount. You might get something less which is after tax deductions. In some states, lottery winners are required to hold at least one press conference before they can move away from the public eye.
The Best Thing to do After Winning a Lottery
One of the first things that a jackpot prize winner such as a winner of SuperEna Max, needs to do after winning a lottery is to decide how they can preserve the wealth that they have accumulated overnight. Here are some useful tips for future and current lottery jackpot prize winners:
Contact a Fund Manager – If you have $100 million in your account and you do not know where to invest, then call your local fund manager who can help you invest your cash into term deposit accounts, stocks, bonds, and even mutual funds.
Invest in Real Estate – As soon as you settle down with your money, talk to a trustworthy real estate agent about lucrative properties that are within your reach. Investing in property can help you generate passive income through monthly rent or reselling a renovated house.
Payoff existing debts – One of the first rules of saving money is minimizing your expenses. You can improve your credit report by paying off all the loans that are currently outstanding on your account. If you do not have any debts, you will not have to expense out monthly payments to pay off interests on car lease or a mortgage loan.
Start working with a charity – An important way to make the best use of your bounty is to help others. Start looking for charities that are doing good work in society. Contact the one you like and contribute small chunks every now and then to help people in making their lives better.
Winning a lottery jackpot can be one of the most memorable experiences of your life. There are good websites, such as LottoGo, which are the most reliable ones. Learn more at LottoGo Review. However, to make the experience more memorable, you need to make wise decisions along the way. It will help you avoid any more surprises that may relate to your lottery winnings!