2023-07-05 21:13:00
When we dream of having won the lottery, like the Powerball or Mega Millions, we list mansions, luxury cars and living the high life. However, there are other things to consider before you start spending.
The advice that we will give you in this note can also be applied to other cases in which money is received unexpectedly, such as an inheritance or prizes from other games of chance.
WHAT SHOULD I DO IF I WIN THE LOTTERY?
Here are three key things you need to do to take advantage of your lottery win, according to an article by The New York newspaper:
1. Pay off your debts
Although many lottery winners say that one of the first things they will do is pay off their debts, others prefer to prioritize a break and live the high life. Experts indicate that the first thing to do is pay off debts, which will also avoid paying interest.
2. Reserve a portion of the cash prize
Financial experts call this reserve a “safety net,” which is important to have in case of emergencies to achieve long-term goals. It is crucial to prioritize saving for the future and not just focus on spending to cover present needs.
3. Enjoy and live in the moment
It is important to enjoy the present, but without wasting. Winning a grand prize can also generate stress, so it is important to have experiences, such as taking a vacation or going to a concert, which brings much more happiness than having some material possession.
Going on a trip can bring more happiness than material things (Photo: Shutterstock)
WHAT IS THE PROBABILITY OF WINNING THE POWERBALL?
The odds of winning the Powerball jackpot is 1 in 292.2 million, but the odds increase if we talk about what state you live in.
According to the statistics in the last 20 years, there have been 18 jackpot winners in Pennsylvania; while in Florida, 16. Both states, however, are among the five most populous in the US.
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