State lottery winners are guaranteed anonymity

Suddenly rich - what to do after winning millions

To win the lottery once - that would be a dream for millions of people. Financial independence, dream trips or a home of your own. The chance of actually cracking the Lotto 6aus49 jackpot is around 1: 140,000,000.

Should the million fortune actually knock on your own door, the joy and the possibilities are of course huge. Quit your job, buy a new car or celebrate your luck with a dissolute party? The possibilities seem endless and so the sudden wealth overwhelms many winners at first. How do you behave properly if even the windfall hits you unexpectedly?

This can be quite a headache for new millionaires, as they cannot accurately estimate what is in store for them. And despite all the euphoria, that also creates worries and sometimes fears. Every now and then one reads sad stories of impoverished lottery millionaires who could not keep their luck and who have completely squandered all their winnings within a few months or even got into debt.

Nevertheless, winning the lottery can pave the way to a financially carefree life - if you invest it cleverly and observe a few important rules of conduct. The right way of dealing with money plays a major role and needs to be learned.

Golden rules after winning the lottery

After an unexpected financial blessing, your thoughts and feelings go crazy for a while. Feelings of happiness and ecstasy put us in a kind of ecstasy of happiness. It's hard to pull ourselves together because we want to shout it out into the world and pop the corks. The motto here is: take a deep breath and keep calm. Even if our need to communicate is at the highest level, silence is the order of the day. It is extremely advisable in the current situation not to tell anyone or only someone you trust about the big lot. Because the financial gain also has its downsides. Alleged friends or foreign supplicants are suddenly on the mat and the relationship with acquaintances and close friends can also change when the prize becomes known. Everyone wants something from the cake. State lottery companies in Germany therefore guarantee anonymity regardless of the winnings.

During this time, one should not make rash decisions, because our rational decision-making ability is partially limited or fails completely. What we need is time to realize and think. So that we don't give ourselves away, life should go on as usual, at least outwardly. Your own lifestyle should only be changed consciously and with care. Even as a millionaire winner you cannot afford a jet set life in the long run. Many lottery millionaires tend to believe that winnings are guaranteed and that they are inexhaustible. This results in winners increasing their consumer spending and living standards disproportionately. On the one hand, the high acquisition costs of a new sports car or luxury property are often thoughtlessly accepted, and on the other hand, hardly anyone has taken the ongoing costs into account in their expenses. That is why new millionaires in particular should always keep an eye on their expenses and not live beyond their means. A budget planner or budget book can be of great help here.

Invest and increase the profit

Often times, people who have made wealth too quickly are under pressure to invest the profits as quickly as possible. The right choice is often difficult due to a lack of experience in the investment sector. The investment strategy for a profit of millions needs to be carefully considered, however, since mistakes can occur here that can no longer be reversed in the short term. As a rule, inexperienced new millionaires fall back on the advice and support of a financial advisor. In a first step, the winner's life situation is analyzed and he determines what he would like to use the money for. The individual risk appetite also plays an important role in the investment strategy. Basically, the higher the stake, the higher the chance of income but also of loss.

A broad diversification of assets usually protects against large losses and is recommended by financial experts. The total amount should therefore be distributed across several financial institutions as well as across different types of investment. These include conservative investments such as overnight or fixed-term deposits, as well as riskier investment options such as share purchases. Investors would do well to understand the various investment alternatives and only engage with investments that are understandable to them. To be on the safe side, you can obtain comparative offers from competitors and, in the digital age, increasingly base your decision on references and experience reports from online platforms.

Stories of lottery winners who have donated a large part of their profits to charities and charitable organizations are always nice to read. Doing good and sharing your happiness with others leads, as is well known, to double happiness.

Publisher: tips-from-experts
Walter Braun, Kirchenstrasse 79, 81675 Munich,
Tel. (089) 45079725, Fax (089) 45079775, [email protected]

Editorial staff: Barbara Braun

Reproduction - even in extracts - only with the written permission of the publisher. This tip has been carefully prepared. Nevertheless, all information is provided without guarantee. Neither the editor nor the publisher can accept liability for any disadvantages or damage that may result from the practical instructions given here

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