At the end of September last year, the life of Kürsat Yildirim, aka “Chico”, took a miraculous turn. At the time, the Dortmunder cleared almost 10 million euros and promptly resigned from his job as a crane operator. So far he has allowed himself quite a bit of his winnings.

At least one Ferrari, one Porsche and one Rolex, as well as numerous donations for charitable purposes, to friends and acquaintances, are now the responsibility of the lottery king. Many critics think that his behavior is not entirely harmless and have already predicted the rapid fall of “Chicos”. A financial expert is now mingling with the critical voices and says: “Money is only intended for the wise owner.”

Lotto King “Chico”: Did he act rashly?

financial advisor dr Johannes Neder is considered an expert in matters of financial planning, business consulting and securing retirement. Since 2001, together with his team, which works independently of banks and insurance companies, he has been looking after companies in the Upper Franconian region and is increasingly active nationally. And what he has to say now is unlikely to please Kürsat Yildirim.

“I can see a clear pattern as to who is still wealthy after 10 years and more – and who is not,” says Neder. According to his own statement, he is said to have worked with numerous people who had suddenly come into money – for example through an inheritance, divorce or just a lottery win.

Whereas successful professionals usually had the opportunity to work on their financial success over many years and get used to it, sudden heirs or lottery millionaires naturally lack this. Here it can often be observed that instead of smart financial planning to preserve assets, the options for extensive consumption are primarily addressed. This means that many winners often treat themselves to luxury items with the money they have won.

DAS says “Chico” to the financial criticism

Therefore, novice rich who unexpectedly got rich should first keep their hands off the money they have received and expand their investment and financial knowledge in small steps. And don’t spend it directly on luxury items or give it away to friends and family members. If you get help from a financial or bank advisor, you should not place your entire trust in them, but also inform yourself about them well in advance.

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As “Chico” revealed on Wednesday (January 25) in his Instagram story, he has now also hired an investment advisor. “There’s so much going on in my life right now and I’m having important conversations… It’s important to have the right people by my side. With this friend by my side, I have big plans,” he said online with the hashtags #investment advice and #management.

Our editorial team confronted the lottery king “Chico” with the financial advisor’s criticism. “I’m not stupid, everyone who thinks I’ll go bankrupt soon will see. I now have a top wealth advisor who now helps me with all my finances. I definitely have big plans,” is his clear statement. After his carnival party and the fundraiser for animals, it should have been with good deeds on his neck. After that, the Dortmund Neustadt millionaire wanted to take it easy.

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J. A. Allen

Author, blogger, freelance writer. Hater of spiders. Drinker of wine. Mother of hellions.

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