The news over the past day has informed us of the largest ever undivided lottery win the United States of $590m (£381m), going to an 84-year old widow.
Talk of the lottery is nearly always accompanied by a discussion of what you would do with the winnings…
But after you have stopped considering how to furnish the gatehouse, it is worth remembering that it doesn’t have to be a massive lottery win for your money to require due consideration.
Using our cash flow modelling tool, Voyant, we can create a wide variety of what if scenarios that project forward how different choices today can affect your financial outlook tomorrow.
We can enter in information such as your incomes, expenses, assets and liabilities and model forward projections, such as those seen on the right.
Being at the age Gloria, the 84 year old jackpot winner, is she chose to take her winnings as a lump sum rather than 30 annual payments of £12m. Taking it in this manner reduced the sum to £240million.
This type of situation is similar to those faced by retirees and those made redundant every day as they must decide how best to take their benefits. This is exactly the situation where cash flow modelling can shine.
Combining this with expert advice that guides you through an all encompassing view of your current circumstances, maybe you can generate some of your own luck.
Of course, if you are feeling lucky, we can even model a scenario where you win big…