Everyone dreams about winning the lotto and never having to worry about a thing again. But, most of us never get even close. But, what would happen if you did win it? What would you do with all those millions of dollars? A lot of people who are lucky enough to win it face that question and often end up blowing the money. Here are a few ideas that might help you with those big winnings.
Let's say that the jackpot you ended up with was $30 million. So, what are you going to do with it all? One really smart thing you might want to do before you do anything else is to take $1 million of it and put it into an index fund. You can get a book about index funds and what they are by reading a book about index funds by John Bogle. You can find books by this author in your local library.
The next thing you might want to do is to maybe invest in a fast food franchise. A good one to consider would be McDonald's. They even send you to school to learn how to run a franchise. You can also educate yourself on how to run any kind of business in order to be successful. Once you learn how to do this, see if there is a franchise up for sale that you can invest in.
You should then take another million dollars and put that into a money market fund or some short term bond fund so you can gain interest on your money while investing it. If you have a million dollars in the bank you are going to be able to live off the interest alone.
You then should take another million dollars and consider putting that into precious metals such as gold, platinum and silver. Invest in the actual coins and not the metal itself. So you might put $500,000 on gold coins and $500,000 on silver coins.
Then you might want to take some more of that money and actually buy yourself a small apartment building. This is a great way to be able to make some money off of income from the rent on all of the apartments that you rent out. This way you have your money working for you and not you working for your money.
By investing just $5 million of your total winnings, you will be ensuring that you will always have a secure financial future and not have to worry about much else the rest of your life. This also would leave you with $25 million dollars to do what you want with. So invest and then go out and enjoy life to the fullest.