Skip to main content

4 lottery winners who lost it all

I like the caption below:

With the Powerball jackpot soaring to $415 million, it’s important to remember that money doesn’t solve life’s problems. In fact, many people’s lives took a turn for the worse, and they managed to lose all the money. 


What would I do if I strike the lottery?


1. Keep quiet


This might be hard to do considering that I like to share my joy. But, I'd like to keep my mouth shut and not share this news to anyone - not even my partner and family. I can already imagine what my dad would say and think - he'd expect me to fork everything. He'll probably share this with the external family who wouldn't let me off easily. More family politics will ensue.

As for my partner, he'd probably still treat me the same, but I can't trust his mouth. If he'll to share this news with his family, I'll be labelled as niao if I dont pay for stuffs. Tongues will wag, and I can't take these.

Keep quiet for my own sanity.


2. Continue with my life, as per normal


Winners tend to splurge with their sudden windfall. I've read many stories of people spending like no tomorrow as if they own the riches in the world. Of course, most end up as paupers within a short span of time.

I'd still go to work. But honestly, this riches would make me more reckless. I will probably be more fearless at work, since I can afford to "fire" my employer. Oops, at least I know myself well.


3. Budget my winnings


Depending on my life stage, I'll apportion the winnings. It could be to pay off the mortgage, distribute more allowances to my family monthly, being less calculative when I travel overseas, parking sums into higher interest deposits and going for a thorough health check-up as my mentality now is "don't check if there's nothing wrong".

Also, contribute a portion to finance the medical bills of kids with illnesses.

-

Just typing these so I can refer to this should I strike it rich. One can dream right? ;)

Labels:

Comments

  1. CompoundingDividendxDividendDecember 5, 2016 at 9:17 PM

    OMG... u share almost the same style as me =x

    My 4th point will be to invest in blue chip for dividend so that I can have early retirement...

    ReplyDelete
  2. LizardoDecember 6, 2016 at 10:04 PM

    My goodness. With $415m invested in govt bonds at 2% coupon, that would be $8.3m a year. Who needs to invest in stocks then? $8.3m is a lot of $$$.

    ReplyDelete

Post a Comment

No rude messages please. Unkind messages and spams will be blocked and deleted.

Popular posts from this blog

I finally cross $700k networth, after 1 year 4 months

I wondered how I should kickstart this post - should I be positive or negative about this? After 1 year 4 months, I finally crossed $700k in networth - returning back to where I've been at, back in Dec 2021.  I am disappointed.  For the past many years, I've always been growing my networth, at around $100-$150k/year. I had big plans to hit a net worth of $850k by December 2022, but the universe had other plans for me. Instead, I only managed to reach $646k, leaving me with a $204k gap to my target.  Ever since I became more aggressive in my "investment" portfolio in 2021, being sucked by greed to deploy most of my cash into stocks and crypto, I fell heavily, along with the crashes. Crypto wiped out 5 digits savings, so did the stock market.  To be honest, ever since the crashes and a bad hit to my net worth, I actually didn't do anything special to improve. I didn't make drastic spending cuts, I didn't stop my holidays, I didn't continue investing (no
2 comments
Read more

What the luck? DBS and OCBC banking tokens died!

What luck. My ibanking tokens went dead one after another. OCBC Token First was my OCBC token. It said "low battery", but I ignored it. And when I finally need to use it, it was dead. Granted that I could use SMS OTP, I had to make a big transfer to other banks and it was over the withdrawal limits. And to do that, I needed the ibanking token. And serve me right for not activating the onetoken. In the end, I had to call in to OCBC call centre for a replacement. 7 working days, they said. What a long wait. In the midst of it, I needed to make my interbank transfers. I even went down to OCBC bank and explored a stupid manual way i.e to withdraw cash and deposit into the other bank. But the moment they told me they ran out of big notes, I got scared. While waiting for the token to arrive, I figured I could actually do transfers in smaller amounts, but had to bear with a daily cap. Sigh. And, one week later, my OCBC token arrived. How efficient. DBS token
3 comments
Read more

Extremely bad start with UOB One

With the influx of posts on social media re UOB One (psst on grabpay) and the receipt of my house keys, I decided it was the time to sign up for a UOB One account plus credit card. It was gonna be the best tool for household joint expenses and joint savings. However, I've faced multiple hiccups that made me VERY frustrated....WHY ME?! 1. Delayed approving process led to losing out of sign up bonus First, I signed up for the UOB One card and Account in early Oct through Singsaver's promotion. The promotion said that I'd get to enjoy cash incentive for registration + UOB's promotion of $80 cash credit with min $1k spent within 30 days of card approval. Mind you, t hese terms were stated to end on 31 Oct , extracted below: S$80 Cash Credit for  UOB  One Account:  Limited to the first 500 new to  UOB  Deposits customers who either (i) deposit and maintain $5,000 or (ii) credit their salary, into their new  UOB  account for 6 consecutive months. Terms and conditio
11 comments
Read more