Most winners of the lottery have much less money 5 years later - La Provincia

Most winners of the lottery have much less money 5 years later - La Provincia

According to the website, the majority of winners of the lottery, specifically three quarters, have much less money five years after winning the prize. This is what the website collects in the absence of days for the celebration of the Extraordinary Christmas Raffle, which takes place this Saturday, December 22.

In this sense, the web offers a series of guidelines for "administering the prize in an appropriate manner", which will consist of 322,000 euros, once the taxes have been paid, for those who earn the "Gordo" for Christmas.

The first is to know if amortizing the mortgage is a profitable option. To do this, he urges "studying the particularities of each loan and the consequences of making an early repayment."

In general, it ensures that entities usually charge a commission that can reach 0.5%, in the case of variable mortgages, and up to 4% in the fixed rate, although these costs will be reduced with the entry into force of the new Mortgage Law.

Another point to keep in mind is taxation. A discount of 15% of the amounts contributed on a maximum of 9,040 euros per year is applied to homes purchased before January 1, 2013.

In this way, amortize the mortgage is an alternative to take into consideration if compared to other savings products as deposits, since none offers an interest rate that reaches up to 15%. In fact, the return on deposits over two years stands at 0.1%.

If, on the other hand, the home was purchased after that date and, therefore, there is no tax benefit, interest savings are virtually non-existent due to the negative Euribor. Currently, the average interest rate on mortgages on housing stands at 2.59%.

If you find an investment product that provides a higher return, it would be advisable to invest instead of amortizing. If the profitability were lower, "the most appropriate thing would be to eliminate the debt owed to the bank."

"One of the main beliefs that you have when you win an economic award is use it to plug holes, that is, eliminate the debts contracted so far and get rid of them so as not to pay too much interest. Therefore, it is not surprising that the first thought that comes to everyone who is graced with the Christmas lottery be amortize the mortgage and eliminate that huge outstanding debt with the bank. But it will depend on different variables that must be analyzed before making a hasty decision, "said CFO Víctor López.

Other options

On the other hand, if the buyer of a tenth is made with the maximum amount, he would have the possibility to stop working and living, in a comfortable way, about 12 or 13 years. However, if instead of spending the prize or eliminating debts, you prefer to make it grow, there are some options for maximize the benefits.

For example, acquire a home, studying the place where you want to buy, since it depends on what can be leased and generate yield, and taking into account if the current price of the property may be revalued in the future.

Another option is through invest in financial assets to diversify money. There is also the possibility of betting on fixed income or investing in a pension plan, which will gain profitability over the years and may be used for retirement. Also, another possibility is to start a business studying if it is a profitable idea that can work.

Further, be supportive to help the disadvantaged is also a "prize" before the Treasury, since the deductions can reach up to 75% in the case of donations of up to 150 euros and up to 35% when they exceed this amount.

Other councils on the web go through maintaining calm and go to a notary after receiving the news that the ticket has been awarded; take care of shared tenths; do not store the money under the mattress, since it will suppose a loss of purchasing power; review the liquidity of the products in which it is invested; or hire a financial advisor.


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