IF I WIN THE LOTTERY WHAT WOULD I DO

Lotto Numbers

The chance of winning the grand Philippine Lotto is 1 to 13 million.  Put another way, there are 13 million more people (or number combinations) likely to win over you.  Those are really steep numbers.   One must be extremely lucky to beat the odds.

Despite the unlikely possibility, people still rush to buy tickets especially as lottery amount gets higher and higher.  All these in the fervent hope of winning that could change their lives.  And that’s exhilarating.  Experts say the mere act of buying a ticket itself brings a rush of happiness to the buyer due to the rise of hope and fantasies for a better life.

But is that all there is to it – money and the countless abundance of it?

Well, what about stories of lottery winners ending up wishing they had not won it at all.  For instance, I read a story of married couple living together for twenty-five years.  The husband described the marriage as happy only to be shocked when handed a divorce paper from the wife stating she is unhappy with him as he is broke all the time.  Days later, he knew his wife won the state lottery a week before the divorce.

That brings us to the question:  is too much of a good thing, a good thing?

Let’s put hypothetical amount into this make-believe winning. Let us say I won Php 100,000,000.00.  If the figures dizzy you, that is one hundred million pesos.  I’ll check my Lotto ticket twice, thrice and knew there is no mistaking the numbers.  I know I have one month to claim the amount.  I know too I have two options:  One time / Lump sum or yearly payments.  This is what I’ll do.

I’LL KEEP IT A SECRETE / PLAY IT LOW

I wouldn’t even let my closest friends know else they’ll hound me for balato.  I will become target of thieves and holdapers.  More to the point I’ll keep a low profile and avoid sudden lifestyle change.  From a regular car to driving a luxury sports SUV can raise eyebrows – so keep it low.

HELP MY MANANG (elder sister)

While still keeping it down and without her knowing my winnings, I’ll buy her a franchise business so she doesn’t have to do the daily grind.  I’ll also buy her medical insurance.

GO FOR LUMP SUM PAY

I’d go for lump sum pay.  Although annual gives will help drill fiscal discipline, however, a well-planned investment and sticking to the plan will reap more than annuity pays.  That’s the wisdom behind the adage:  A DOLLAR TODAY IS WORTH MORE THAN A DOLLAR TOMORROW.

PAY ALL INDETEDNESS

I’ll pay up my other house loan/investment.  I’ll  put Credit cards to zero balance.  Keep financial liabilities zero.

INVEST IN MUTUAL FUNDS.

These are low risk investment that will guarantee earnings of 3% to 4% per annum.  My one hundred million winnings will get me Php 3M per year in interest, that’s Php 250,000.00 per month.  That should keep my original cash protected plus I’ll get to live only within interest of my money.

KEEP CURRENT BUSINESS

Abandoning my current business to lead a life of self-indulgence isn’t really in keeping with playing it low.  I’d expand that business and diversify if necessary.

The key here is how to manage the windfall of seeming countless cash, the responsibility it entails; the transition from an ordinary citizen to a life of opulence, from a two-room house to a mansion in a plush subdivision.

My take.