Millions of people around the world take part in the lottery through lottery tickets. KBC head office receives tons and tons of appliers every time we open. People wait anxiously, holding onto their breaths as the results get announced. For those who don’t win, there is always the next time they try.
However, for those who do win, there lies ahead a big challenge of what should they be doing with this money. There have been several cases where people have won big lotteries and wasted their entire winnings in a matter of no time.
Most people that win lotteries only think about the money that they have and not of the fact that money eventually runs out if not taken care of. At KBC head office we see many cases where people have won a tremendous amount of money but because they lacked the proper sense to control it, they drained out these winnings.
No doubt winning the lottery brings you great joy. However, this must not be forgotten that this joy won’t last long if one doesn’t work to maintain it. People tend to think of the short-term rather than investing this money for long-term gain.
What should you do with your lottery money?
There are several things that one can do when it comes to handling lottery money. At the KBC head office, we recommend winners always be patient when it comes to disclosing themselves as the winner in front of family and friends.
When one receives a large sum of money, so quickly, the people close to you tend to think that you’re now available to help them. These people somehow feel entitled to the money that you have won with your own fate. They begin asking you for money to pay off loans or give them loans for something that they say is important to them.
They think that because you haven’t earned this money the hard way, you can give it off to anyone who wants it. If you say no, they start taking you on a guilt trip. Hence, at KBC head office, we recommend never to be impatient in disclosing your winnings.
One of the best things to do with your winnings is to hire legal and financial consultants. You are new to having a large capital to invest, and you don’t have any running business that can cater to a loss from a decision you make yourself. Hence, hiring professionals is the first best thing you can do to handle the money.
The first thing that these professionals will help you with is how to receive this money. Government taxation is something you might not be well aware of. KBC head office recommends that you hire financial consultants to help you understand tax thresholds. This helps you decide what kind of payment to opt for. If you should be going for a lump sump payment or annuity payment is a big step.
Attorneys are important for any person. There is no knowing when a person files a lawsuit against you, hence investing in a good lawyer is one of the first few things you should be doing. Any legal activity must go through the proper channels and a lawyer makes sure that all these things are in order and according to the state law.
At KBC head office, we recommend paying off your debts as the second thing you do after hiring the professionals. The thing about having money appear in your account is that you can remove any liabilities that hang over your head.
Paying away your debt as soon as possible helps you prevent interest from accruing. Hence, we always suggest first paying off the debt that has the highest rate of interest. Paying off your debt allows you to save money that you would have spent on paying the interest.
According to KBC head office, paying debts doesn’t just mean that you pay off the loans you’ve taken on. Paying off debt also includes any mortgages or leases that you have running. Paying off these helps you make assets that you can liquidate at any time you want, giving you cash in hand for immediate use. This strategy serves as a good backup in case of an emergency.
Thirdly, you need to focus on three things: your retirement plan, your low-cost investment plan, and your real estate plan.
You need to know how you will source money for your day-to-day activities once you retire. Your kids would barely be making on their own, and no one wants to live in a retirement home. If you want 24/7 available helpers, then KBC head office recommends putting some money on the side for your retirement. While keeping that money, always make sure that this amount grows and doesn’t deplete.
When looking for low-cost investments, bonds and stocks are one of the best options. Look for a stock with good company background and a strong market. Study its future and invest by buying the shares.
The real estate plan is a long-term investment. In this long term investment, you are to spend a large chunk of your money by investing it into real estate. Looking for areas with good business growth, start identifying the hotspots for real estate price hike. KBC head office recommends that you buy assets renovate them wait for their value to grow and turn them over with a profit. Just call us on KBC HEAD OFFICE NUMBER
You can hire professional real estate brokers for the job. These people know the right time and place to buy properties and can also help guide you as to when you should sell them.
Come to the best lottery in the country
When it comes to lotteries and winning money no one beats the history set by the KBC head office at KBC we have the best professionals to help you with your lottery.