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

SGD$1,000,000 networth unlocked 🎉

As of 8 Dec 2024, I have officially unlocked the milestone of $1m networth ðŸŽ‰ This is all thanks to the increased in value of my crypto holdings as well as my US stocks. My HK/CN stocks are still in bad shape. On stocks front, truthfully, my overall investments is still in the red. I had made mistakes in stock picking and has not taken the opportunity to cut losses. I had the view to hold and pray those stocks in deep red would go up - after all, I told myself I don't need the money right now. On crypto, given that BTC has bounced back, I'm sitting on decent profits. I've been cashing out bit by bit. The last I spoke in Mar , I cashed out a rather sizeable amount of BTC at 50% profit. On hindsight, if I had waited till now, I could have cash out 3000 SGD more. Anyway, this time round in Nov, I cashed out 2 times, at a 70%-80% profit. Not bad considering the rest of my investments. As long as there are no major global events impacting the markets negatively, I believe I woul...
2 comments
Read more

🤞On track to hitting $950k networth by end 2024🤞

Another blink, another year ending soon. How have you guys been? I wonder who else is still monitoring my blog despite my lack of updates. Again, so much has happened, but not much have changed. I travelled well, continued with a 3rd round of IVF egg retrieval (result was extremely poor), and went through uncertainty at work due to restructuring but was thankfully able to keep my job. I still haven't fulfil my dream of being a mother. Though honestly, it now feels more like a checkbox to be unchecked than the actual fulfilment of wanting to nurture and grow a child. I think the weariness is getting too much. I will embark on my final transfer within these few months. This would be my 7th transfer. If it fails, I'm likely going to stop further treatments. I have already done the best at my "peak".  I am telling myself that my life is still amazing despite these hiccups. Anyway, onto my financial goals. Back on 31 Dec 2024, I posted my goal to achieve $950k networth by ...
1 comment
Read more

Cashing partial BTC out at 50%+ profit

My first foray into crypto was during the hype. Back in Feb 2021 During Feb 2021 to Jun 2022, I added in bit by bit - DCA as what they say. BTC, ETH, MATIC, SOL and even the horror LUNA. Thereafter, as crypto crashed, I stopped, praying one day it will rise back. And today, as I found that BTC is now at ATH, I decided to cash out 1/4 of my BTC for some profits. It's still a far cry from the amount I've lost, but I'm glad I could recoup some losses. Just to detail for my future reference, I transferred my BTC from ledger to coinbase. And sold my BTC on coinbase to SGD, incurring an atrocious fee of $130 and GST of $12. Gone are the days of cheap transaction fees.  Please let me know if there are wiser/cost effective options. In total, what I took back was a profit of 50%.  May BTC rise up more so I can cash out at 100% profit next. -dated 9 Mar 2024-
Post a Comment
Read more