The biggest jackpot winners of all time have probably all had very different ideas of how to spend a big windfall. While their stories may all be different, most people who win big use the money for the superfluously typical new car or vacation. There is also the opportunity to get out of debt, or just resolve some other financial issue in their lives. While the rags to riches stereotype of a mega jackpot winner who loses a fortune and ends up worse off than he or she was before the jackpot does hold true in some cases, most subvert that terrible narrative and get to instantly live the life of their dreams.
It’s certainly not hard to imagine that almost every online casino player already has a grand plan for his or her payouts. While rewards are going to vary between online casinos and other games of chance, happy winners are typically going to pocket sums of money far in excess of their expectations when they truly hit the big jackpot. Just imagine if you were the lucky person that set the world record for a slot machine victory and won $24 million USD. Now comes the part where you have to decide what to do with the windfalls.
Getting between one and thirty million dollars in prize money is going to make someone instantly rich, but it will not make them so wealthy that he or she is going to be able to buy anything in the world forever. This is the sort of money that could give a person a more than comfortable living for the rest of his or her life, but only if the winner spends wisely and plans for the future with investments in mind. Lots of the biggest jackpot winners in history are good role models in that regard.
The Finnish Mega Moolah player Klaus E. did use the money he won to go on vacation, however he also used it to pay off his apartment. Another jackpot winner in 2013 that won just over four million euros used his earnings to get his own apartment and also to go on vacation. So, while it may seem to be common sense to invest your winnings, the excitement of an instant jackpot can understandably set common sense back a few notches.
While an instant windfall can make you feel like you’ve “struck it rich”, most people have a hard time appreciating the fact that wealth is highly relative. Here today, gone tomorrow is not a long-term recipe to make your life demonstrably better. In order to become supremely wealthy, the practical solution is taking that huge jackpot and creating future value by investing it for long-term growth. Creating a stable investment strategy with a portfolio of finance, investment and real estate assets will create a wealth platform designed to grow with time.
According to Forbes, getting involved with finance and investments is the top strategy to create huge fortunes with real estate investment being the third largest source of wealth among the ultra-rich.
You can still allocate a certain percentage of that new money to those fun expenditures and live the life you’ve only dreamed of, but make sure that you keep a financially positive mindset to employ your earnings in a responsible way that ensures personal wealth into the future.