A LOTTERY expert has revealed the first thing he says to EuroMillions winners as soon as they hit big.
Robin Melley, a financial advisor from Bridgnorth, Shropshire, has been helping lucky lottery winners with their fortunes for almost a decade.
His firm Matrix Capital became the go-to place for winners of the £1m Premium Bonds jackpot – where Robin guided winners on what to do with the fortune their new find.
The 62-year-old has helped over 200 lottery winners over the past eight years and shared his first piece of advice for lucky millionaires.
Melley took to LinkedIn to suggest that winners initially deposit their funds in a safe but easily accessible place, such as an NS&I Direct Saver account, which pays 2.85% interest.
But while it’s not the best rate in the market, because NS&I is backed by the government, the money is fully guaranteed.
Talk to The Telegraph“This gives winners time to get used to their changing circumstances, and they don’t rush into making life-changing decisions or long-term investments,” he says.
The 32-year financial advisor also revealed that paying off outstanding debts is a positive step for new winners to take and can have a positive psychological impact on the person.
Whether it’s credit card debt, loans or even a mortgage, the lottery expert urges winners to address it as one of the things they can choose to spend their money on.
Melley explains that his job involves creating personalized financial plans and giving advice – whether they’re the parents of a winning kid or a 94-year-old grandma, and every plans are different.
One of the most common things lottery players tend to splurge on are multimillion-pound homes but they often forget about running costs.
“This is one of the main reasons you see winners go bankrupt within five years. In the end, they use all of their capital to fund the operating costs of what they have purchased, rather than invest and use it to fund a long-term financial plan,” says Melley. with The Telegraph.
Here’s why he encourages winners to follow his three simple steps to get the most out of their money: “Take your time, don’t tell anyone, and take his word for it. appropriate advice,” he added.
But even if winning the lottery sounds like a dream come true, this expert also warns about the dark side of becoming an overnight millionaire – dubbed the “curse of detox”. won”.
He recalls previous winners wishing they had never won that amount and being overwhelmed with not knowing what to do with their fortunes.
On her LinkedIn, Melley wrote: “Seek professional partnership advice from highly technically qualified advisors… of sudden wealth.”
He stressed that it’s also important to be aware of financial abuse – as this is the aftermath of a lottery win he has witnessed “a number of times”.
This comes after another lottery expert shared his top tips that can help players win huge jackpots.
One more gaming expert has revealed ways you can pick numbers to increase your chances of winning big.