In the recent article, we explained Where to Cash Lottery Tickets. Sometimes people that are very easy to earn more money if you have a lot of money. But it is not valid. To spend money and to invest money are not the same too.
But let us think about the central question:
What To Do If you Win the Lottery?
If you win the lottery, you need first to pay off all your debts and then at least the first part of the money to invest in some property. After this step, you will be debt-free; you will have one place to live and one property as an income source. After that, you should invest in stocks from 20% to 50% of your money, and one part of the money you can pay into your pension.
If you have business ideas, you can invest in some start-up business or physical assets such as art, antiques, and some of your passion But, of course, part of your money you should give to charity.
Lottery tips
First of all, you need to know how the game works, buy your ticket, decide which numbers to round up, and the winning numbers will be drawn when it’s your turn. If you want to increase your chances of hitting the main goal in the lottery, here are some valuable tips that could help you with that.
1 Buy more tickets: The downside of this tip is that you may spend more money to get a prize, and if it is a small amount of prize money, it may not even cover what you have invested But if you buy and fill in more tickets, it is logical that winning increases.
2 Play in company: Gather friends who play and put them together on the slips. The chances of winning increase, but all the winnings are divided among more people; but if you get a million that you have to share with five people, we believe you will not regret it.
3 Be careful which numbers you circle: If you have to circle numbers up to 55 on the ballot, do not circle 1 to 7 but make sure that the sum of all selected numbers is between 104 and 176. Studies show that about 70 percent of winning combinations are always related to that amount.
4 Do not dial only one-digit numbers: Like the previous rule, do not rely only on one-digit or two-digit numbers but make sure they are diverse. Again, it doesn’t mean that you will win for sure, but the chances are higher.
5 Look for games that are not so popular: Precisely because most people play the lotto, you are less likely to win, but if you find games that are not so popular, you may be the lucky one.
6 Maybe the date and year of birth bring you luck: Many rely on the dates of birth of children or parents, but in that case, you will probably choose numbers from 1 to 31, and if you select those above 31, the chances are higher that other people will not use that numbers.
7 Note that each number on the slip has an equal chance of being drawn. Unfortunately, no program can predict which numbers will be the winner, but you can increase your money by not using the usual numbers.
After leaving Wells Fargo Bank in 2014, Daniel began a career as a finance consultant, advising companies and individuals on economic policy, labor relations, and financial management.
At Promtfinance.com, Daniel writes about personal finance topics, value estimation, budgeting strategies, retirement planning, and portfolio diversification.
Read more on Daniel Smith's biography page.
Contact Daniel: daniel@promtfinance.com