If I Won P700 Million in the Lotto, then I Will Stop Investing and Here’s Why

Updated: September 26, 2018

The Philippine Ultra Lotto jackpot has reached the P700 million mark. As of writing this article, it’s actually now P734 million.

This fact has inspired a lot of friends to daydream on what they’ll do if they won the lotto jackpot. And one of them shared this answer:

[If I won the lotto, I would] donate to a charitable institution or to the church, invest in the stock market, get insurance, set up a business, buy a lot to build my dream house for me and my loved ones, purchase a condo to be rented out, buy a car, and travel abroad.

Would you do the same thing? I know a lot of people who would do something similar and more to what my friend said.

But if you ask me, I won’t do those things. Particularly, I won’t invest in the stock market, I won’t get insurance, I won’t set up a business, and I won’t purchase a condo rental unit.

Why? Because I don’t need to grow my money anymore. I already have P700 million!

I can set aside P100 million for my family and various charities. Then if I had to live for another 60 years, I’m still left with a budget of P10 million per year; or P833,333 per month.

And the way I know myself, that much money is already more than enough to live how I desire. To be honest, my ideal monthly cashflow is only P500,000 per month!

Even with 4% annual inflation factored in, the monthly budget that I have with that much money after 60 years, would be the same as having around P70,000 per month today. And that’s still a good amount, don’t you think?

So where would I put the money? I’d simply place it in several high-interest bearing bank deposit accounts. A large portion of it would be in a time-deposit account to maximize the interest earnings without exposing it to significant risk.

I’d probably consider long-term fixed income instruments such as government bonds too, but never the stock market.

And that’s it!

I don’t need life insurance because my family can just withdraw the cash in the bank without paying estate taxes out of pocket.

I won’t set up a business nor purchase real estate rentals, because instead I’ll just support various charities and use most of my time doing volunteer work.

But hey, this is just me.

If you won P700 million in the lottery, I believe that you don’t need to invest in the stock market, you don’t need to get life insurance, you don’t need to set up a business, and you don’t need to buy a condo rental.

With proper money management, you probably have enough money to last your lifetime and do everything you want.

However, you need to invest, you need to get life insurance, you should set up a business, and you could get a condo rental because you’re not crazy rich…

…and those things are what non-millionaires, but financially educated people do, to actually become crazy rich in the future.

You don’t do those things if you win the lotto, you do those things if you don’t win the lotto.

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  1. @Electrical, that’s correct! Which basically brings down the inflation adjusted monthly budget in present value of P70,000 to P56,000.

    I still think that’s quite an adequate amount, so I’ll probably do nothing different from what I wrote above. Thanks for the reminder about the taxes.

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