Ireland is home to some of the most famous lotteries in the world. The country’s national lottery has been officially played since 1988 and organizers of this lottery have distributed millions of Euros in prize money to lucky winners hailing from different parts of the country. These lotteries not only help the public acquire some extra cash for themselves and their family but also allows the government to initiate welfare projects through tax gains they achieve on every cash prize distributed in the lottery game.
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According to local laws, for a participant to claim their lottery win, they need to show a legible ticket to the organizers before they can take home their cash prize. For this very reason, many people try to play the game online so that they can store a softcopy of their lucky number safely on their hard drive or in their email. Some people also prefer scratch and win type of lottery game where you scratch the ticket to see the amount you have won in the game. To confirm your prize, you can call the lottery headquarters and gain access to cash as directed by their representative.
Couple receives a multi-million-euro reward
A married couple who lives in Dublin was awarded one of the highest jackpot prize money in the history of Irish National Lottery. According to the husband who purchased the winning ticket from a nearby shop, the couple had no idea if they had won the prize or not until they saw the results being announced on TV. The winner’s wife had installed a lotto app on her smartphone and used it to check and confirm their ticket numbers with the lucky draw. While the husband was calling out the numbers, the excitement built up in the room as each number started to match the jackpot combination.
The winning family has decided to help their loved ones regain their financial strength through this win. Unlike many careless jackpot winners, the husband has decided to carry on with his job and maintain a regular lifestyle until he figures out anything better to do with his life. The store from where the winning ticket was purchased is situated in one of the most popular gas stations in the area.
The winning family suggests that they will think about how to spend their winnings while they are on a luxurious break in the coming months. The winner dismissed any speculations of looking to retire from work, suggesting that he likes what he does and it also keeps him in shape.
Why it is important to plan for a lottery win
Winning a jackpot prize in the national lottery is once in a lifetime opportunity for lucky draw winners to change their lives for the better. If they do not have a clear idea about how they will spend their earnings, then they might end up losing too much money in too soon. This will leave nothing with them to secure their future financial needs.
As soon as people hear about a lucky winner, they flock towards these bounty recipients to get their hands on some portion of the cash prize. Some will show themselves as wealth advisors while others will claim to be from a newly established NGO. Winners also get calls from their long-lost friends who talk about their financial stress and how some extra cash can resolve their current financial needs.
Even if no one approaches you for their own financial gain, it is hard to be confined under a limited budget when you earn so much money in such a short amount of time. Hence, it is very important that these jackpot prize winners start planning ahead of time of how to preserve their wealth in the long run.
Four things you can do to preserve your lottery win
In order to preserve your newly found wealth till the retirement age, you need to spend it very wisely. Here are some common steps that many jackpot prize winners take after winning the bumper prize:
Invest in Gold
One of the best ways to convert cash into a liquid asset is to buy gold. This precious metal has proven time and again that it can save you from financial distress during tough economic times when currency value hits rock bottom and inflation is on the rise. In fact, in many parts of the world, gold is converted into jewelry which is passed on to future generations.
Another important way through which you can protect your financial gain is to buy real estate. This will help you to diversify your portfolio into different asset classes. Besides being an effective tool for managing the downside risk, the property you purchase can also provide you with a means for generating passive income on a regular basis. If you have invested your money wisely into real estate, you should not be worried about maintaining your financial status even after retiring from your regular job.
Talk to a Financial Expert
In order to maximize your return on investment, it is always beneficial to talk to a wealth manager or investment advisor. These professionals can tell you exactly where to invest your money based on current market conditions. Some of the most popular investment vehicles recommended by wealth managers include mutual and hedge funds, stocks, and bond markets. It is not necessary that you do exactly what they say, but gathering useful ideas from financial experts can help you to not only preserve but also grow your wealth over time.
Take a break
Although winning a lottery jackpot is like a dream come true, it is usually hard for the winning players to digest such a major change in their life. Hence, many winners take some time off from work and enjoy a luxurious trip to ideal destinations with their loved ones.
Irish lottery organizers have distributed some of the largest jackpot prizes in the world. If you are out of the country and still want to take part in an Irish lottery than you should contact a local concierge service immediately.