It just may be that it's the right time for you to move to Mississauga right now. Within the last month there have been three big lottery winners in the city. In September, one resident won $257,459 in the Lotto 649, another won $153,893 in the Pro Picks Pools lottery and yet another won $250,000 in a Lottario draw. The tickets were purchased at the Mavis Road Canadian Tire Gas Bar, a Winston Churchill Blvd Esso station and a Shell station in Etobicoke on Brown's Line. It kind of makes you want to head out and get some gas and a lottery ticket right now, doesn't it?
What to do with the winnings
If you become one of the fortunate few to win a lottery here in Mississauga as well, there are few things that you need to do with your winnings and some things you must absolutely avoid.
The first thing to do is nothing. There is no way that you should be making any type of serious plans for the money right away. It takes some time for things like this to sink in. Deposit the money in the bank and walk away from it for a month. It will definitely be hard to do but you need time to get used to having this extra money so that you can make the right plans with it.
Let's say, for example, that you have your eyes on a fancy new sports car. If you've won $50 million, it won't be a problem buying that car. If you've been lucky enough to win $1 million, putting your money into items that are going to depreciate instead of appreciate over time isn't a smart move.
If instead you took that money and put it towards a small apartment building or duplex, for example, you would earn back enough money in rentals to get that shiny new sports car and would have an asset that would appreciate over time. Let's say that you take $900,000 of your million and put it into this Mississauga real estate investment. You keep $100,000 and spend a small portion of it as a reward for yourself and put the rest into other investments. This would be a smart move all around since you'd be able to see your money grow year after year instead of having to watch it gradually disappear on items that depreciate.
Oh how fun it is to dream about winning the lottery! If you live in Mississauga right now or are planning on moving here soon you may want to pick up a ticket the next time you need to gas up!