Top 5 things to do if you win the Christmas lottery

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Everyone has ever dreamed of becoming one of the lucky ones who get to win the Christmas Lottery, and that dream often comes true. Before acting unthinkingly driven by emotion, expert investors recommend good planning and, most importantly, not hasty decisions. So that you have it all figured out in case it happens, we offer you the best tips for investing your prize.

What do the experts advise to do with the Christmas lottery money?

Each case is different, so we offer several alternatives depending on your situation. However, in all cases it is advisable to plan carefully about what to do with the prize.

1. Amortize debts. Who does not have a loan or mortgage today that you want to get rid of? In order to do this, it is important to pay off first those with a higher interest rate. Of course, leaving your job is totally unadvised because you also stop quoting and the money, no matter how much it hurts us, in the end it runs out.
2. Start a business. Many people choose to invest their Christmas Lottery prize money to open a business or improve their training to get a more qualified job.
3. Invest in real estate. Around 41% of the winners will decide to buy a home, whether it is a habitual residence or a holiday home. If your objective is to rent it later, take into account the demand and rental prices of the chosen area.
4. Invest in Bonds, Government Bills or deposits. These products have a lower return and therefore have less risk. You can also invest in stocks or investment funds, the risk is higher, although the long-term return is also higher.
5. Finally, you can always indulge yourself, especially if your capital allows it. However, be careful that what you spend in this case is not more than 10% of the prize.