- The Mega Millions jackpot is over $1 billion. If you win, what will you do with the money? In Globe Live Media we explain some investments that you could take into account
The Mega Millions jackpot is already over $1 billion, one of the highest jackpots in recorded US history. The next draw will be held on Friday night, so those who participate may be on edge. A few hours before knowing if there will be a winner of such a fortune, at Globe Live Media we are going to tell you what are the best investments you could make if you win the jackpot.
The experts and yourself should consider that, if you are a winner, even if you do not win the jackpot, you should invest every dollar, so that it generates more money for you, and not just dedicate yourself to spending it without giving you a long-term benefit.
No economy is stable and the landscape can change overnight, so the wisest thing you can do is take care of your money and make it grow, so that you are always protected in some way.
So we are going to tell you about five investments that it is advisable to make, especially if you are the winner of the Mega Millions jackpot:
1.- High yield savings accounts
High-yield savings accounts will allow you to pay yourself interest on your cash balance. In addition, it helps you generate extra cents in your physical bank. An online savings account will always be a plus. And it gives you direct access to your money whenever you want, without having to go through an overwhelming bureaucracy. In fact, you can make a quick electronic transfer to your main bank or through an ATM.
According to experts, this investment is very safe for those who need immediate cash and who do not want to go through significant risks of losing their money.
2.- Short-term certificates of deposit
Certificates of deposit are issued by a financial institution and generally offer a higher interest rate than savings accounts. It is a good option for those looking for rates to increase and allows you to revert to higher rates when these certificates expire.
That is, it allows you to change your investment game, while the certificates of deposit expire: the dates can range from several weeks to several years. You must be clear that during these periods you cannot withdraw your money, if you do, you will have to submit to a penalty.
3.- Short-term government bond funds
These funds consist of the investment of debt securities that are issued by the United States government and its agencies. They are short-term and do not represent a great risk for those who decide to invest in this way when interest rates rise.
According to experts, the funds are invested in US government debt and mortgage-backed securities, which are issued by companies that are sponsored by the government. They are a highly recommended option for those who are starting a path as an investor and for those who are looking for cash flow.
4.- Short-term corporate bond funds
In this type of investment, companies often raise money by issuing bonds to investors, and these can be packaged into bond funds that in turn hold bonds issued by hundreds of corporations across the country.
According to Bankrate, short-term bonds have an average maturity of one to five years and are an excellent option for investors looking for cash flow, such as retirees, or those who want to have returns without the need to risk much.
Melissa Galbraith is the World News reporter for Globe Live Media. She covers all the major events happening around the World. From Europe to Americas, from Asia to Antarctica, Melissa covers it all. Never miss another Major World Event by bookmarking her author page right here.