What do you do when you win the lottery

Winning the lotto is among the dreams of many of us. If you won the lottery, know that you can be calm and smile. Well... not so fast. Many lottery winners, it turns out, lose their money in a short time if they don't manage it correctly. Before you rush to invest your money in the stock market or in a new car, remember that the money can disappear in a few days if mismanaged. On the other hand, proper management of the winnings can result in an interest of NIS 150,000 every month. Winning the lottery is one of the most exciting experiences there is. Winning the lottery goes through income tax officials who pull into the state's pockets another 25% of the final amount, after which the winner can go home and be calm until the end of his days. What can new millionaires do with their money? With prize winning money you can create a whole life free of worries and full of pleasure, and also arrange a beautiful estate for the children. Through prize winning money, there are some goals that are more worthy of investing in and others that are less so.

Priorities in receiving the award

The first thing you should do with the prize money is pay off debts. Debts can be a real headache and when a real prize is won there is no longer any need to be dragged along with these debts. All the existing mortgages, the open loans, the exceptions in the bank, if any - all of these require immediate treatment as soon as the winnings enter the bank account. The second step that should be taken after winning the award is to check different investment avenues that suit the unique needs of the investor. First, it is important to keep the money as much as possible and secondly, you can earn additional funds on top of the existing funds through correct investments. Investing in corporate bonds, for example, will yield a decent and significant annual sum. By properly managing prize money, you can even benefit from the monthly interest and live "only" on NIS 150,000 every month. In fact, even if the amount is significantly lower than the original winning amount, it is extremely important to properly manage the money and maintain it for the long term. It is often important to invest the money in a stable asset in order to prevent leakage and depletion of the capital. This investment can take place through investment apartments or any other property. Beyond investing in a new apartment, there is the option of depositing the funds for ten years in the bank. Alternatively, you can purchase long-term bonds with relatively high interest rates. In these situations the money is guaranteed since it is a government guarantee. Buying an apartment, on the other hand, may yield a monthly salary of at least NIS 3500. Other recommendations for the use of money are for the purchase of leading stocks on Wall Street. This is a decision intended more for the brave since it is possible to lose significant amounts of money. You can invest some of the money in venture capital funds or even land abroad such as in Europe or anywhere else in the world.