Ireland's EuroMillions winner can earn €200k a month, or burn €10k every day
The Euromillions €250m jackpot was a 140 million-to-one shot and could now earn the lucky winner €200,000-a-month in interest.
A financial expert revealed the biggest Euromillions win ever means Ireland's newest multi-millionaire could spend €10,000 a day until the year 2093. But personal money guru Eoin McGee warned that mismanagement of such a colossal amount could 'ruin you' and beware 'making promises'.
He said: 'My advice is do absolutely nothing, except sign the back of the ticket. Ring the Lotto and confirm you have the winning ticket, but then sit back and tell nobody apart from your inner circle. Don't make any big decisions now. This is life-changing. I tell Lotto winners to remember that the things which made you happy before this win are the same things that are going to make you happy afterwards.
'Life will be different, but if you do not manage this properly, it can ruin you. This €250m can ruin you. Be careful about your decisions and any promises you're making. Even be careful about telling your children how much they're going to get. Make no promises. It is a time of celebration and joy and being happy about it, but in the first six months, do not spend more than €10,000 on any one item."
McGee added: 'Don't buy a €2.5m villa and then realise after three years that you haven't used it. It's a huge amount of money. You could invest €1m a month and you would never eat into the €250m. Even if you put it into a bank account with 1%, you will get €2.5m a year from that. That's over €200,000 a month. Sign the back of the ticket and get a financial planner. It's scary having a €250m ticket sitting in a drawer but take your time.'
He claimed that the jackpot is so gargantuan that the winner can spend €10,000 a day for over half a century and not run out of cash. Eoin said: 'It's so much money that you could spend €10,000 a day for 68 years without running out of money.'
Maynooth University math professor David Malone calculated the odds of winning the jackpot at 140m-to-one. Prof Malone, who is director of the Hamilton Institute, said: 'That's your chances of winning the thing. Buying the ticket actually only makes a small difference to the chance of winning. Probability is tough. This €250m win is an amount that's not like the normal Lottery wins. Plan your future carefully.'
Meanwhile, RTE radio presenter Oliver Callan joked that the €250m could be spent on painting 'some of' the new National Children's Hospital. It has faced many controversial delays with costs soaring from early estimates of €650m in 2015 to €2.2bn, according to a Government update in February 2024.
Callan said on his RTE show: 'If you've won the Euromillions, you can send the money to wherever you like, to places in need. RTE never wastes a penny, as you know. We could do with another Francis Brennan series and maybe Room to Improve. There could be a full month of improving the buildings at RTE because there are nicer looking rooms in the drama series Chernobyl. This €250m would paint some of the National Children's Hospital. Good luck to the winner, you're about to discover a lot of cousins.'
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RTÉ News
an hour ago
- RTÉ News
How to spend the €250 Euromillions win, according to an expert
Many of us have fantasised about how we would spend the money if we won the lotto, and for one lucky person in Ireland, those dreams are about to become reality. The Euromillions jackpot of €250 million was won last night by a person in Ireland, with the hunt already on to reveal who it is, and where the ticket was sold. Meanwhile, countless people up and down the country are likely straight back to thinking about how they'd spend that money, whether that's paying off the mortgage, booking a holiday or sharing it with loved ones. But according to Personal Finance Expert Eoin McGee, the best advice is to "do absolutely nothing". Having dealt with many lotto winners in his practice, the presenter and advisor joined Today with Claire Byrne to share his advice on what to do if you win the lotto. Take your time "You're not under pressure for time, bar signing the back of the ticket", he explained. "There's a couple of months before you have to claim this." He suggested starting by ringing the lotto to confirm that your ticket is the winning one. "But more importantly, tell nobody", he added. "I don't mean absolutely nobody but keep it to yourself, just keep it within your inner circle, to the people who you are likely to talk about it [to]. Don't make a decision today or tomorrow or any time soon whether you're going public or staying private, both of them have their pros and cons, but just keep it to yourself for the moment because, this is life changing. "Any money that people win can be life changing, but this is particularly life changing and there's going to be a lot of media focus." He noted that once the news breaks where the ticket was sold, "there'll be people looking across the table at each other, wondering, 'was it you and they haven't told me?'" Keeping such a monumental win secret is easier said than done, particularly depending on your life circumstances. But, as McGee said, "once you open your mouth, you can never retract it". Ground yourself Tempering your expectations on the kind of joy such money is going to give you is wise, too, McGee said. Keeping a level head and grounding yourself is an important step. "One of the things we try to get across, particularly in the first meeting when somebody has come into money - maybe it's they've sold their business, maybe they've won the lotto, or whatever it is - but you do need to remember that the things that made you happy before this win are the same things that are going to make you happy afterwards. You just have more time to do them now." Although €250 million is an enormous amount of money, McGee stressed that financial mismanagement can upend even the largest wealths, with potentially devastating consequences. "Don't underestimate that if you don't manage this properly, it can ruin you." He explained that this is down to the pressures that could be placed on the winner of such a fortune, from asks from family, friends and acquaintances, to requests for support from charities and organisations. While accepting these can be a deeply fulfilling thing to do, you'll still need to think carefully about how this money is being spent - or saved. Plan for the future Although many of us will want to be generous with the win, McGee advised: "Make no promises." Even with a win of that size, there are some people who will always expect more than what you're able to give. "This is a time for celebration and joy being happy about it, but it's not a time for division", he said. More than that, he added, in the first six months, you shouldn't spend more than €10,000 on any one item. To grow your fortune, McGee recommends investing some of it in moderate to medium risk investments. "You could take a million euro a month off it, and you'd never eat into the €250 million." Put the win into a bank account with 1% interesting and you'll have €2.5 million per year in returns, he explained. That's a little over 200,000 a month!"
Extra.ie
2 hours ago
- Extra.ie
Rumour mill in overdrive after €250M Munster EuroMillions win
Someone in Munster just had a monster win in the EuroMillions but the rumour mill has gone into overdrive around the country. The winning ticket, which is now worth a massive € 250 million, was sold in the south of the country, Lotto bosses confirmed yesterday. The huge quarter-of-a-billion-euro prize was won by a single ticket bought in a shop. This historic win marks a new milestone for the Irish National Lottery, setting the record for the largest prize ever claimed in the country. The previous record stood at €175 million, won in February 2019, with a ticket sold at Reilly's Daybreak in The Naul, Co. Dublin. The numbers for the latest EuroMillions draw were: 13, 22, 23, 44, 49, and the two Lucky Stars were 3 and 5. Reilly's Daybreak store, Naul, Co Dublin. Pic: by Mac Innes Photography Lotto spokeswoman Emma Monaghan confirmed that the ticket was sold in person and not bought online. She urged the winner to 'have a cup of tea and let it sink in'. Ms Monaghan added: 'I would be asking people to check your tickets very carefully this morning. 'If they are holding the winning ticket, the most important thing they can do is to sign the back of it and keep it somewhere safe.' She continued: 'Not only did we see 92,000 players in Ireland win prizes, including our top prize in EuroMillions Plus, but we also saw the historic jackpot being won by an Irish player. The €250M Euromillions winning ticket was purchased in Munster. Pic: Shutterstock 'We are continuing to advise all EuroMillions players in the Munster region to check their tickets very carefully to see if they have landed this mega windfall. We're looking forward to sharing more details about the win in the coming days.' The continent-wide jackpot had grown to € 250 million following various rollovers and reached its maximum cap earlier this month, meaning the jackpot could not get any bigger. The winner of the latest humongous prize is the 18th Irish EuroMillions jackpot winner since the game became available here in 2004. Someone in Munster just had a monster win in the EuroMillions but the rumour mill has gone into overdrive around the country. Pic: Getty Images Despite confirmation that the ticket had been bought in the Munster region, that did not stop the rumour mill going into overdrive all over the country. Some had heard it was sold in Wexford, while others claimed it was in Mayo, and there was one small village in south Dublin that initially sparked most of the feverish speculation. Stepaside, on the outskirts of Leopardstown, had become the focal point for rumours and tales of newly crowned millionaires. visited the supposedly lucky shop to see if there was any truth to the rumours that it had sold the ticket. Stepaside, South Co Dublin. Pic: Getty Images Kennedy's Centra was abuzz with people all wanting to know if someone local had just won € 250 million. Shop worker Ross Butler said the whispers started late last night that someone in Stepaside had taken home the jackpot. 'It started on a Facebook group I think, and it grew from there,' he said. 'Every single person coming in the door has been asking about it, and we've just said we don't know. We have sold a few winning tickets before. 'Recently, there was one sold here that was worth a million, but nothing like the EuroMillions. It'll be nice to know either way if it was here or not because that's all the talk has been today.' Across the road in the Step Inn pub, senior barman Ciaran Ward said the rumours caused a 'great buzz about the place'. He said: 'It would be great if it was sold here, alright, but nobody knows, do they? That's the thing. They're not saying. It could be here or anywhere, but you'd hope it was a group of people who won it and not just one person.' Local punter Larry Butler said that he always does the Lotto with his friend Frank, whom he hadn't seen all day. Frank had yet to check the ticket despite the rumours, Larry explained. 'He has it there somewhere, and it hasn't been checked. I'd trust Larry with it, not a bother,' he quipped. 'You'd want a head on your shoulders if you did win it, but. Best of luck to them, whoever they are.' The first EuroMillions draw was held on February 13, 2004, in Paris. Initially, only the UK, France and Spain participated, with the Irish, Austrian, Belgian, Luxembourgish, Portuguese and Swiss lotteries joining for the October 8, 2004, draw.
Irish Daily Mirror
5 hours ago
- Irish Daily Mirror
Ireland's EuroMillions winner can earn €200k a month, or burn €10k every day
The Euromillions €250m jackpot was a 140 million-to-one shot and could now earn the lucky winner €200,000-a-month in interest. A financial expert revealed the biggest Euromillions win ever means Ireland's newest multi-millionaire could spend €10,000 a day until the year 2093. But personal money guru Eoin McGee warned that mismanagement of such a colossal amount could 'ruin you' and beware 'making promises'. He said: 'My advice is do absolutely nothing, except sign the back of the ticket. Ring the Lotto and confirm you have the winning ticket, but then sit back and tell nobody apart from your inner circle. Don't make any big decisions now. This is life-changing. I tell Lotto winners to remember that the things which made you happy before this win are the same things that are going to make you happy afterwards. 'Life will be different, but if you do not manage this properly, it can ruin you. This €250m can ruin you. Be careful about your decisions and any promises you're making. Even be careful about telling your children how much they're going to get. Make no promises. It is a time of celebration and joy and being happy about it, but in the first six months, do not spend more than €10,000 on any one item." McGee added: 'Don't buy a €2.5m villa and then realise after three years that you haven't used it. It's a huge amount of money. You could invest €1m a month and you would never eat into the €250m. Even if you put it into a bank account with 1%, you will get €2.5m a year from that. That's over €200,000 a month. Sign the back of the ticket and get a financial planner. It's scary having a €250m ticket sitting in a drawer but take your time.' He claimed that the jackpot is so gargantuan that the winner can spend €10,000 a day for over half a century and not run out of cash. Eoin said: 'It's so much money that you could spend €10,000 a day for 68 years without running out of money.' Maynooth University math professor David Malone calculated the odds of winning the jackpot at 140m-to-one. Prof Malone, who is director of the Hamilton Institute, said: 'That's your chances of winning the thing. Buying the ticket actually only makes a small difference to the chance of winning. Probability is tough. This €250m win is an amount that's not like the normal Lottery wins. Plan your future carefully.' Meanwhile, RTE radio presenter Oliver Callan joked that the €250m could be spent on painting 'some of' the new National Children's Hospital. It has faced many controversial delays with costs soaring from early estimates of €650m in 2015 to €2.2bn, according to a Government update in February 2024. Callan said on his RTE show: 'If you've won the Euromillions, you can send the money to wherever you like, to places in need. RTE never wastes a penny, as you know. We could do with another Francis Brennan series and maybe Room to Improve. There could be a full month of improving the buildings at RTE because there are nicer looking rooms in the drama series Chernobyl. This €250m would paint some of the National Children's Hospital. Good luck to the winner, you're about to discover a lot of cousins.'
