I read stories of lottery winners, and sometimes I feel bad.
Because it seems no matter how much these winning players earn, the majority of it is spent in a few years... Misspent on high-living.
Or, as footballer George Best famously said: "I spent most of it on booze, broads and fast cars. The rest I wasted."
Here's three things you should start thinking about now - before the millions of dollars falls into your bank and you go stir-crazy with all the unasked advice you'll receive:
1. - Don't pay attention to friends. Rarely will they have the wisdom to tell you how to invest your tens of millions. While they will have your best interests at heart and are well-meaning, these are not the people you should speak to.
This is the occasion to go and visit a financial advisor at a government-backed bank. Head for the guy who manages HNWI accounts (that stands for High Net Worth Individual. Most global banks have a separate division for those individuals).
2. - Take a spending break. Just put away your wallet and don't spend a cent. I know, your natural instinct is to start paying everything off and giving money away to family. But don't, yet.
As I mentioned in an earlier article, some gifts will attract tax in some states or countries. You could certainly end up with a tax bill which could wipe out your hard-won dollars. You need to figure all that out before you start throwing greenbacks out the window.
3. - And here's my individual answer. You don't hear this solution talked about much because it is quite a radical step in these days of instant everything. Yet it is based on wisdom built over centuries of experience...
This: Don't ever run through your winnings!
Lock it up and make it safe.
I'm suggesting that instead of spending it, make your once-in-a-lifetime prize be the source of an everlasting income stream for you, like this...
Let me explain.
In the bygone days, the wealthy had a rule.
It was simply this: "Don't touch the capital."
Capital - money or buildings - was the source of all earnings. These property holdings and funds which produced perpetual money.
Like a never-ending stream, these sources would keep pouring out cash forever.
And the rich lived off the interest or rent - but never touching the capital.
Good times or bad, their golden goose would keep producing like there was no tomorrow. And the clever among them would feed back that stream into the capital again and again, until it became a raging torrent.
To join the favored few in this position, put your winnings into commercial property, bonds or other financial instruments recommended by your HNWI advisor, and live off the income. Forever.
That's what global best-selling "Rich Dad" author and investor Robert Kiyosaki says too.
It will never run out.
But once your capital is gone - like a drowned rat, it cannot be brought back to life.
Turn on the money tap and you need never be troubled again!
For free lottery play tips and secrets, check out my websites. You can download a free 55 page report now.
Happy Winning!
Steve Paul
