Singapore Lottery Winnings – Invest Your Winnings Wisely
SINGAPORE – The easing of Covid-19 curbs saw punters come out in force, with a surge in the sums wagered on lotteries like 4-D and Toto as well as sports such as football. This explains why the Tote Board collected more than $125 million in casino entry levies last financial year, up by about 10 per cent from the previous one. Counsellors interviewed by SAYS also said the convenience offered by Singapore Pools’ online betting site had led their clients to place bets more often, with some even introducing it to younger generations.
While we may feel that winning a lottery is a blessing, it could actually do more harm than good if you’re not careful with your money. It’s important to understand that you’re not used to handling such a large amount of cash, so you’ll want to seek out the help of a qualified financial planner who can help you make sound decisions for your windfall.
While you’re at it, why not put a bit of your prize money into something that will actually give you a long-term return? One option is to invest it in a short-term endowment plan that comes with insurance coverage for death and total permanent disability. Check out Great Eastern’s SP Series 9 if you’re interested. You can find out more about this product here.