What To Do When You Win Big
$5,000 Welcome Bonus
There are progressive jackpots worth millions in play. The total paid out is £2.6 billion. Most of the money is from relatively small wins of less than £1,000. There are 100s of new millionaires who hit a fat win on a lucky spin. Here are the top ten tips on how to spend the winnings.
When you win big, kill the credit card debts. Credit cards are expensive and APR is high. Clear the debts first and enjoy the freedom.
After winning a progressive jackpot, you no longer need a mortgage. Watch out for early mortgage closure penalties. It might pay to wait a few months before settling to avoid additional charges.
What To Do When You Win Big: Keep It Real Estate. Rockefeller, Carnegie, and Trump can all vouch for the value of property.
Windfalls can come with a heavy tax liability. Seek a reputable financial advisor and futureproof that jackpot win.
Investing in art is a sensible way to lock up some money and looks great on the wall. Buy a Banksy, Warhol, Hirst, or Emin.
A Ferrari 250 GTO in mint condition sold for $48.4 million in 2018.
The key to being a successful investor in rare wine is not to drink your assets. 1945 Domaine de la Romanee-Conti sold for £424,000 in 2018.
8. Coins, Comics, and Other Collectables are a good investment. If you win big, you can indulge your hobby.
9. Explore cryptocurrency. What to do when you win a big jackpot.
What to do when you win a big jackpot? Enjoy. Take a holiday, cruise the world, buy a five-carat shiny rock.
