![]() In the long term, historically, equities give the highest returns. In keeping with Financial Services Commission requirements for pension funds as to the percentage that can be invested in equity, of 20 per cent we can maintain 15 per cent of the winning in equity and divide it between the junior and main market. A rule of thumb for investment purposes is that between five to 10 per cent should be kept in cash on hand. Let us assume that the winner is an average Jamaican who is not a savvy investor. ![]() Sunday Finance sought the expertise of three wealth management advisors - Mayberry Investment's Erica Crawford-Bryan, VMWealth's Colando Hutchinson and JMMB's Roy Reid - each creating their own imaginary profile of the lottery winner and telling us how they would advise him to invest his millions.Įrica Crawford-Bryan - Vice President Sales and Client Services, Mayberry Investment Limited The wise thing to do before distributing your winnings is to see a wealth management expert, paid to give you advice on how to handle your money. Additionally, your riches may attract family members, friends, charities and even strangers asking for financial gifts and loans - a well documented ingredient for financial misfortune of multi-million dollar lottery winners. You want to clear your mortgage, buy a car, enrol your child into a prestigous university et al. ![]() Having a mansion in the hills is one of your life-long dreams. How you invest your windfall will likely determine whether you will be financially secure for a lifetime or be the subject of one of those sad documentaries on E! Entertainment Television. Prepare yourself mentally for sudden wealth, the opportunities it will present and the challenges which may arise - afterall, it is often said that more money leads to more problems, which appears spot on when one considers the many hard luck stories among lottery winners culminating with a lot of them ending up broke. He won $232.2 million from the September 27 $387 million jackpot because of the split price purchase. The lucky gentleman last month purchased his winning ticket at a Shell Service Station in Mandeville, Manchester at the $150 split price option offered in the game. While one man revels in the glory of winning $232.2 million in the Super Lotto, most of us can only dream of having that much cash (less tax) in hand and being faced with the task of deciding how to invest it.
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