Becoming a EuroMillions jackpot winner could set you up for life, but you’d want to make sure that you still have a positive cash flow to make things a little bit easier. People talk a lot about investing large sums of money in order to generate income without working, and putting away a chunk of that win into investments and savings would keep the money flowing in as you enjoyed your new jet-setter lifestyle.
For the sake of simplicity, let’s assume that you win the EuroMillions jackpot tonight and net a tidy sum of £111 million. Divide this into four parts:
- You could use £30 million for spending on clearing debts and buying luxuries like a couple properties, a sports car or two, treats for your friends and family or buying an entire room full of puppies. You could live for a very long time on just this amount of cash!
- After that, use £27.7 million for directly investing in what interests you. Skydiving, space exploration, building a biscuit production empire to rival that of McVitie’s - with a EuroMillions win you’d be able to fund whatever your heart desires!
- Want to keep a bit for a rainy day? Put £27.7 million into a plain old account. If you stashed away £27.7 million into a regular current account (or twelve) with a basic Bank of England interest rate of 0.5%, you’d generate interest of £138,500 on the money - more than enough to keep your bank balance padded out as you pursued your dreams.
- Basic interest rates not enough for you? Trying chucking £27.7 million into “safe” investments in low-risk corporate bonds, which give you more flexibility than plain old savings and offer a higher rate of return.
This is just a rough guide that doesn’t take into account tax burdens on any investments you might make. Obviously, anyone who beats the odds and scoops the jackpot could obviously do as they pleased with the money and could afford the help of the brightest minds around!
If you’re already dreaming of walking into a financial advisor’s office tomorrow morning with the news that you’ve won a nine-figure prize (right after you’ve told your boss where to go), then you’ll need to make sure that you buy EuroMillions tickets before sales close at 7.30pm BST (8.30pm CEST) tonight. Good luck!