Winning the lottery opens up a world of possibilities that didn’t exist for you before you had the funds. Sure, you can do the responsible thing if you win the lottery and pay off your house and car or invest in stock or life insurance.
However, it’s also totally understandable to use your money for fun and extravagance. Here are 12 things that should be at the top of your list after winning the lottery.
1. Vacation
Whether you go on a tour of all seven continents or opt for a simple road trip across the United States, you’ve just won the lottery and you deserve to celebrate. Plan an epic vacation to a place you’ve always wanted to visit, and don’t be shy about splurging on tickets to a tourist attraction or drinks and dinner at a fancy restaurant.
2. Your Dream Car
You’ve had your eyes on a Ferrari for years. Now that you’ve won the lottery, it’s the perfect time to make that purchase. Just be smart and invest in a car that will last you for a long time. You could even collect vintage cars if that’s your passion.
3. Savings
Go ahead and have some fun now with your lottery winnings, but be responsible too, and put a significant amount in your savings account. You could use these funds later in your retirement, or maybe to pay for your kid’s college tuition. You’ll be thankful for the nest egg down the line.
4. Dream House
Unless you already love where you live, you should use your lottery winnings to buy the home you’ve always wanted. You can also stay in your current home and invest in a renovation project like new paint for your living room or a total kitchen overhaul, complete with a granite island. It’s up to you!
5. Expensive Tickets
Taylor Swift is going on tour again, and you’ve finally got enough money to splurge on the tickets! Are you a sports fan who’s always wanted to go to the Super Bowl? Go ahead and use your lottery earnings, and while you’re at it, rent a limousine, so you can avoid parking. You deserve a little luxury!
6. High-End Electronics
Deck out your home with the latest in technology, whether it’s a pinball machine, a home entertainment system, or a smart gadget that turns the lights on and off by the sound of your voice. Winning the lottery gives you the freedom to invest in tech gadgets that enhance your everyday life.
7. Art and Collectibles
Feel like a ritzy high roller by going to a gallery and splurging on a painting or sculpture. Is modern art not really your thing? Use some of your lottery money on rare memorabilia or collectibles from your favorite movies, bands, or sports teams.
8. Fashionable Wardrobe
You’ve won the lottery, so two words should be at the top of your mind…shopping spree! You can keep it simple and go to the mall, or splurge and hit the shops in Paris, Milan, or New York. Hire a personal stylist if you have no idea what pieces make you look good.
9. Spa Services
Before you won the lottery, you probably didn’t have extra income to spend on indulgences like facials or hot stone massages. Now the world is your oyster! Get monthly massages if you want to, or get your nails and hair down every few weeks. Spend that extra money on a bit of self-care.
10. Adventurous Activities
Winning the lottery gives you the freedom you didn’t have before. Try out something new like white water rafting, riding in a hot air balloon, or even deep-sea diving. You could also take lessons to learn a new instrument, ride a horse, play a sport, practice ballet, or whatever else sounds good to you!
11. Additional Property
Instead of going to Atlantic City of Vegas to gamble away your lottery winnings, make a safe bet by investing in additional property. You can buy a condo that you rent out for extra income, or splurge on a luxurious summer home on the beach. It’s an investment that will earn you more later.
12. Philanthropy
You may have won millions or even billions. Use some of that money to do a little good in the world by donating to a worthwhile cause. You can even establish your own charity if there’s a mission you’ve always wanted to get behind, but haven’t had the money to pursue.
Winner Takes All
Winning the lottery is truly a dream come true. Be wise with your earnings. and use the extra money as an opportunity to live the life you’ve always wanted. Throw a big party right after you win, and invite everyone over to celebrate. Afterward, you can brainstorm all the fun ways you can use your lottery winnings.
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4 Reasons Why It’s Better to Take the Lump Sum Lottery Winnings