A tenth of the Christmas Lottery valued at 20 euros becomes thanks to the random rhythm of the drums in a rain of hundreds of thousands of euros. After the disbelief come champagne, hugs and television. The euphoria is unleashed and the bank account overflows. But is it really for so much? Can you live big with the 400,000 euros of Gordo? Is it advisable to leave work if you earn a million euros? The statistics show the heartbreaking fact that three quarters of the winners in the Christmas Lottery, which is held tomorrow, have less money five years later. Economic experts – and common sense – recommend to cool the emotion and go to an advisor who establishes a road map to invest the gains and ensure that this amount can even double.
"Taking into account the prices of housing, that an average family earns 324,000 euros clean with the Gordo is certainly not enough to consider stopping work," explains the director ofRent4 Banco Gran Canaria, Mariano Sanginés, which clarifies that talking about general recommendations is very complicated and that the ideal is that the planning be individualized. In the same line is the managing partner of Pharum Consultores, José Ignacio González, who recommends patience and does not make any important changes without thinking it through. "A person who is not used to having this amount of money needs an expert to plan and make him see what his future needs are, the expectations of profitability and the risks he is willing to assume."
How much does Hacienda take?First of all, you have to know how much real money the winner of the Gordo takes. This year, the winners are in luck because they will perceive more than their predecessors. The prize is valued at 400,000 euros, of which they will charge a net amount of 324,000 euros compared to 322,000 last year because the Treasury begins to take 20% when they exceed the 20,000 euros prize. In theState's general budgetsIn 2018 it was approved to extend the tax-free minimum in the lottery prizes progressively. In 2017 the limit was at 2,500 euros, in 2018 it went to 10,000 euros and this year it is only started to be taxed if the prize exceeds 20,000 euros. The lucky ones will still have the lucky ones with the Sweepstakes of the Child, who will be 'clean' the first 40,000 euros.
Should we hurry to collect?The right to receive money from the Christmas Lottery prizes expires three months from the day after the draw, that is, it can be collected from December 23 to March 23, 2020. In if the amount is less than 2,000 euros, you can get the money from the same afternoon of the Gordo. The rush at the time of charging is advisable, especially, if part of this prize is to be distributed since the Inheritance and Donation Tax in the Canary Islands will undergo significant changes on January 1, 2020. Currently, it is rewarded at 99, 9%, but within ten days this exemption will only apply below 300,000 euros. When an amount is distributed between 300,000 and 350,000 euros, the bonus will be 90% and for each increase of 50,000 euros will be reduced by 10%, to reach 1.2 million euros, when there will be no bonus. So if there is much to distribute, better go to the notary before taking the grapes.
In the short, medium or long term?The phrase most associated with Fat is, without a doubt, that "it will cover the holes". Many winners opt for cortoplacism when they see a large amount of money in their hands that they did not expect – we must not forget that the chances of winning the Christmas lottery are one in 100,000. But the advice of the experts is that, if you want to make the greatest possible return to this anomalous circumstance of destiny, you have to wait. "If the beneficiary is someone who is very drowned in day-to-day life, it is obvious that he will have to dedicate a part of the prize to improving his immediate quality of life," explains Sanginés. But if, on the contrary, it is a person who intends to achieve a better retirement or increase the quality of their children's university education, they can financially plan their future. Investments are classified according to the time period, as explained by the director of Renta 4 Banco Gran Canaria. Who will need the money in three years should not risk much or opt for volatility, that is, for investments that suffer fluctuations in value. More margin of action have those who will not have their money in more than five years, as they can allocate half of the equity in equity investments. Finally, the winners who are not going to need the prize until after ten years can become a very interesting portfolio in order to double their assets, provided they earn between 7% or 8% annually. "If an investment discipline is maintained and good advice is received, it can be achieved," says Sanginés. Of course, you have to be prepared for possible scares because in such a long period there will be losses and gains. The director of Renta 4 Isla recommends investing in fund portfolios because of their resistance to crises against the real estate sector, where external factors can alter the market price and liquidity is also not facilitated.
Cancel or not the mortgage?The prize of the Christmas lottery can be assimilated to tongs with which to cut the mortgage chain. However, this first impulse can be counterproductive in certain cases, according to José Ignacio González. If a winner has an old mortgage, a good monthly income and also benefits from a deduction for investment in habitual housing – for those purchased before 2013 – you may not be interested in canceling it. However, if someone has subsequently purchased your home and does not arrive comfortably at the end of the month because of the mortgage credit, cancellation would be a good alternative.
Can money lose value?Right now, conservative portfolios, in fixed-term deposits or in State Letters, have zero or even negative returns. González believes that some winners may feel compelled to invest in products such as investment funds or other financial funds that they should know well because they can lead to losing money. "Currently, there is no risk-free return."