Pay the mortgage, the preferred option to which to allocate part of the Fat

Pay the mortgage, the preferred option to which to allocate part of the Fat



Loterías y Apuestas del Estado celebrates today as every December 22 the Extraordinary Christmas Raffle, which this year will distribute a total of 2,380 million euros in prizes, an important amount that the Spaniards would mainly allocate to the payment of their mortgage.

El Gordo is rewarded with 400,000 euros per tenth, although after paying taxes, it remains at 322,000 euros, an amount that may be enough to fulfill some of the dreams of the lucky ones.

A report from the financial comparison iAhorro reveals that six out of ten Spaniards (63.2%) would allocate the prize of the fat person for the payment of their mortgage or use it to "plug holes", while only 16.2% say that I would save.

Whatever the winner decides, the delegation of the European Association of Financial Advisors, EFPA Spain advises not to make hasty decisions.

Keeping calm and discretion are also another of the councils of the Association, which warns about the "unnecessary" waste that can be made after being graced with the Gordo.

In this sense, the digital bank Self Bank recommends that, in case the winner wants to "indulge", this does not exceed 10% of the total amount of the prize.

And is that according to the comparator Rastreator.com, three quarters of the lucky ones who have won the fat Christmas have much less money five years later.

Rastreator.com highlights the opportunity that can be expected for the fortunate one the amortization of the mortgage, although taking into account the tax advantages.

For the financial expert of iAhorro Antonio Gallardo, the fat person allows the lucky person to have a "cushion" for future unforeseen events, make an investment, or end up paying or buying a home, "but it will be hard to retire".

In this regard, XTB analyst Sergio Puente recalls that the first thing that the winner must do when receiving the prize is to pay taxes, even if it is decided to distribute a part among the loved ones, since in this case other taxes are applied that depend on each autonomous community.

One of the options given by the expert is that part of the money goes to a financial investment, although taking into account the profile that had the winner before being graceful.

Puente recommends investing in products such as pension plans, or state public debt if the user prefers more security.

Another option that he sees as "interesting" is that of investing in the Spanish stock market, especially for those that do not need short-term capital, since he understands that next year, the equity market can register important gains after the "bad behavior" experienced in 2018.

In case of opting for this option, Puente warns of some factors that may affect the market in 2019, such as the political conflicts that have already been protagonists this year, such as the commercial war between the United States and China or the "brexit".

From Kruk Spain, a group dedicated to the management of debt collections, they also point out that almost half of Spaniards consider that the prize would be the only way to obtain the financing needed to buy a house or start a business.

However, according to their data, only one in four Spaniards admits knowing how to manage their household finances well.

The experts consulted emphasize that, regardless of what is decided to do with the prize, it is always managed "with common sense".

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