A person who won 600k$ in lottery

[Dr.Bitcoin_Strange]

What would you do if one day you won the lottery?

Well, if I happen to win such a lottery and the money is in my account ($600k), then I will have to buy a new hardware wallet first, buy like ten bitcoins, and stack them in the hardware wallet. With the remaining $300k, I can buy a small house for about $150k in some area here. I could also use $50k to buy a plot of land; the other $50k can go for one investment I am desiring to join, while the remaining $50k can be used to enjoy life while it lasts, meaning while I am still doing my job and running my business and getting paid for it as well. There are a lot of good things to do with money if one has it plentifully at once. It's just that some people don't think hard about what valuable things they can do with the money they get.

[harizen]

There is no choice but to move forward. It's not that everything is gone and still, there's room for rebuilding.

Just consider the story as a reference to those others who will experience the same. Besides, most of us here don't know the "actual feeling" of being a big lottery winner that's why it's easy for us to give advice. But surely, when we are in the actual situation, there might be things on the way that we won't like to happen intentionally but instead, we will just go with the flow.

If fortunate things happened to us soon, no other option but to keep responsible for our own actions.

[Wexnident]

~

Not really a lottery discussion, more like money management stuff? But anyway, the idea would be rather enjoyable I guess, I mean it's free money, definitely would make a lot of bad decisions but one of them would definitely not be helping random people. Like I get it, you got money but the idea of helping people when your life itself hasn't been properly built (whether you've won money or not) seems dumb. People are able to help others because they are stable, and that's a lot more effective than destroying yourself while helping. A noble sacrifice may be noble, but a sacrifice nonetheless.

And to be fair, $600k is pretty small in a first-world country imo.

[bitzizzix]

Dreaming is fun and hoping it comes true.
and if i get my $600k in winnings from gambling or whatever i will leave it for a few days to give me a chance to think carefully, about what to do with that much money i previously kept so safe.
because I have to think about how the more money I have, the easier it is to make more money. And perhaps the easiest and fastest way to make more money is to have multiple income channels.
maybe I want to buy some houses in potentially fast growing and crowded housing for me to rent, as this will increase in the long run in terms of house prices and rents.
and I also want to buy a house for my parents which is very comfortable and safe for them, and a house for my family and its facilities and the two houses are not too big and not too small but quite satisfied.
and I also have to think about insurance and investment, especially bitcoin for my family, and these two things I have to do for the future and also to live comfortably without worry.
and the rest I will use for some business, and also for my gambling activities in small amounts and I will play when there is free time and also if there is a desire. Because I also have to keep working where I work, and I also have to manage money and other things so that everything goes well and smoothly.

[Don Pedro Dinero]

What would you do if one day you won the lottery?

After achieving this success, he bought his masion in their province, bought household items, fancy cars and jewelry. In addition to this, because this person has a big helpful heart, he fed the entire market where he used to sell vegetables and said goodbye to the barangay that covers it.

600,000 where I live is not enough, far from it. I could spend it just buying a house. It's not enough for a mansion, and expensive cars and jewellery like the one you're talking about.

In fact, I know people who have received half of that amount and in another case like a fifth and people simply assume that they will do a little better, they get rid of debts such as the mortgage, buy a few things, take a trip and keep part of it as a buffer for unforeseen events.

In my case, I would donate a part, invest another part and a small part would be for splurging but as I say, the amount is not enough to go crazy. If it were $6,000,000 it would be a different matter.

[Negotiation]

A person who won 600k$ in the lottery is very good news but they need to know how to control them properly. There are many people who even after winning such a large amount lose everything because greed works in them and bets on more money. They generally lack sufficient knowledge therefore, looking at financial management, emergency budgeting will keep financial management very efficient. Budgets can vary depending on the type of business again the same business may have different budgets for different tasks. Everything can be accounted for then you don't have to calculate every time. It can be understood at a glance whether the business is going towards income or expenses.

[len01]

~

Not really a lottery discussion, more like money management stuff? But anyway, the idea would be rather enjoyable I guess, I mean it's free money, definitely would make a lot of bad decisions but one of them would definitely not be helping random people. Like I get it, you got money but the idea of helping people when your life itself hasn't been properly built (whether you've won money or not) seems dumb. People are able to help others because they are stable, and that's a lot more effective than destroying yourself while helping. A noble sacrifice may be noble, but a sacrifice nonetheless.

And to be fair, $600k is pretty small in a first-world country imo.

exactly, usually people who get free money or get large amounts of instant money and are in a country that really appreciates the amount of $600k will surely act recklessly like helping the closest person. but for me it was also one of the big mistakes that he should have won the $600k used to open a well-established business to get a steady income and then just help other people. to think only of others for the sake of good reputation is very bad because with that kind of money it is better to be selfish than to think about or help others.
on the one hand, if you suddenly help other people, its like showing you have a lot of money and other people will definitely find out where the money comes from and how much. to make it worse, people are showing up asking for help and its also vulnerable that bad people are coming to take his money.
the most important thing here is that even if you get any amount of winnings at gambling, its better to use it yourself or anonymously without having to show it to other people for your own safety and comfort.

[Apocollapse]

Did you mean he should become a financial stable after he get such huge amount of money?

To become wealthy is start from small thing, it's about how he manage his money when he only have $100. If someone is still not understand how to make money and manage his money, regardless how much money he get will not make him rich. Maybe he's a temporary rich person, but after next 1-2 years he will be in the same path or worse than it was.

[Mauser]

This is also a reminder that money should be valued, and planned wisely, the loss of his wealth is a lesson that no matter how much we receive can be used up if we do not keep and manage properly. Even though his money was exhausted, something opened his mind in the midst of the hardship he was facing, the remaining apartment he owned. Despite the trials, he had hope to get back up little by little by using his remaining property. Because of the rest of his property, he thought of allocating income and time to repair and rent it so he improved it. Because of his. determination, he gradually entered his rent. He did get sane and responsible tenants who were running a good profit from
in the apartment.

These rents provided him with payments for his expenses and payments for his dues and daily needs. Through his apartment he got a source of his income and hope. This is what gave him the strength to persevere in getting up in life. He had a chance to start over and build a foundation for his future.

After playing the lottery for such a long period of time winning 600k USD doesn't seem so much. When winning the jackpot, I think people should at least become a millionaire, because in today’s world you can't even get a big house for such kind of money. Just yesterday someone won the Euro jackpot for more than 100 million. That is a life changing amount where you never have to work a single day in your life, but with 600k you can't quit your job and retire early. Don't get me wrong, 600k would be awesome to have and with such kind of money you could build a good investment portfolio to generate returns that help out a lot. I would not put all the money in real estate because the risk is too big of just owning one single asset. A steady rent income is nice to have, however we can achieve the same thing with puying financial assets that offer period returns. Diversification is they key when it comes to long term wealth protection and focusing on a steady return. There could be of course a riskier approach where you say that you want to gamble more and try to reach a million at least before you invest your money more conservatively.    

[rhomelmabini]

Did you mean he should become a financial stable after he get such huge amount of money?

To become wealthy is start from small thing, it's about how he manage his money when he only have $100. If someone is still not understand how to make money and manage his money, regardless how much money he get will not make him rich. Maybe he's a temporary rich person, but after next 1-2 years he will be in the same path or worse than it was.

Well, he should become financially stable when he got that money but he's not that knowledgeable to handle such wealth. That phrase that becoming instantly wealthy will also be a like bubble to pop up is true but with proper money management I guess that curse will not be within you.

After playing the lottery for such a long period of time winning 600k USD doesn't seem so much. When winning the jackpot, I think people should at least become a millionaire, because in today’s world you can't even get a big house for such kind of money.

I think that the amount of money being won wasn't from first world country, maybe it's from a third world. That amount of money is for sure huge as long as you properly handles it well.

[ultrloa]

Did you mean he should become a financial stable after he get such huge amount of money?

To become wealthy is start from small thing, it's about how he manage his money when he only have $100. If someone is still not understand how to make money and manage his money, regardless how much money he get will not make him rich. Maybe he's a temporary rich person, but after next 1-2 years he will be in the same path or worse than it was.

Well, he should become financially stable when he got that money but he's not that knowledgeable to handle such wealth. That phrase that becoming instantly wealthy will also be a like bubble to pop up is true but with proper money management I guess that curse will not be within you.

Not really because it still matter on how he handle hia finances since there are lottery winner who win millions of dollars in prize but got broke because they didn't handle well their finances and just became a one day millionaire. Past mistakes by lottery winners should needed to learn so that other winners like him could handle their money very well and they will not regret when all their money earned has totally gone. Sometimes people got overwhelmed easily with the money instantly accumulated that's why some of them doesn't have any guilt feeling when spending it since they think they still have a lot of money and realization comes after when they see that its draining fast then they start to get broke.

[maydna]

Getting a lot of money from the lottery does not guarantee that we will be able to prepare the right financial plan because if it was from gambling, we might think about buying things we have wanted for a long time and not preparing for our future. It has happened to many people, including the person in the @OP story. They get carried away with the winning money and keep using it for things they don't really need, and when they look at the balance, they still see that they still have a lot of money. That makes them continue to use it for things that are not important, and finally, when they go to the balance, they are surprised to find that the remaining money is not as much as before.

If I am given the chance to win the jackpot from the lottery, I first take maybe a quarter of the total money to buy bitcoins. Meanwhile, I will save the other amount to meet my daily needs and prepare for my future.

[Westinhome]

Getting a lot of money from the lottery does not guarantee that we will be able to prepare the right financial plan because if it was from gambling, we might think about buying things we have wanted for a long time and not preparing for our future. It has happened to many people, including the person in the @OP story. They get carried away with the winning money and keep using it for things they don't really need, and when they look at the balance, they still see that they still have a lot of money. That makes them continue to use it for things that are not important, and finally, when they go to the balance, they are surprised to find that the remaining money is not as much as before.

If I am given the chance to win the jackpot from the lottery, I first take maybe a quarter of the total money to buy bitcoins. Meanwhile, I will save the other amount to meet my daily needs and prepare for my future.

The money is the money and it's mean the source you are getting it.After getting the winning of 600k you can split the money to two different half.Then keep one half for saving for your health expenses at the old age.Use the second half to inverse in some good cryptocurrency.If you not follow this two things,after some days all your money will be zero.Because it's very essential one to keep the plan after getting money from the lottery.Even it's unexpected winning,you make keep some future plan after getting huge money.It will be better time to execute that plan after winning money.

[Slow death]

most people who won a lot of money in the lottery were very poor people and they never dreamed or had any hope that they could win the lottery, they keep playing but they play without much hope and they don't make many plans, things like: when or if If I win the lottery I would buy thing X or thing Y or invest in business Z or business A, they are not part of those people's thoughts, that's because their day to day is suffering, and from suffering so much, hope no longer exists in their hearts theirs, so they won't be making plans with money that is not in their hands. This is where the big problem comes in, because when a person is very poor, that person is no longer afraid of becoming poor again, because every day is another day of survival.

he's not living thinking about the future, he's living thinking about the present, he thinks what he's going to eat today and that's it, when the morning comes he'll think about what he's going to eat, and his life goes like that and when he wins a lot of money in the lottery that thought doesn't change, he will take a lot of money and spend it today and tomorrow he will do the same thing until the money will run out and when it runs out he will not feel the pain of being poor again, because he spent many years living that way, for him life is not made of future but the present

I saw stories of people who won a lot of money in the lottery and moved to a hotel, and see that they didn't go to any hotel and any hotel room, they went to the luxury hotel and presidential room, they bought the most cars and 5 years later spending a lot of money came back and becoming poor and when he was interviewed, he said he was not sorry because he was poor before winning the lottery, so he was already used to poverty

[bitbollo]

There are several cases of people that get bankrupt or hard economic issues after an huge lottery win.
I know some cases also here in Italy, and more or less each region here as the same story.
Its kind of impossible I Will be able to win such a large jackpot (Just because I dont play lottery).
For sure, in the remote event) I Will study a strategy for Money storage and avoid to waste such win

Getting a lot of money from the lottery does not guarantee that we will be able to prepare the right financial plan because if it was from gambling, we might think about buying things we have wanted for a long time and not preparing for our future. It has happened to many people, including the person in the @OP story. They get carried away with the winning money and keep using it for things they don't really need, and when they look at the balance, they still see that they still have a lot of money. That makes them continue to use it for things that are not important, and finally, when they go to the balance, they are surprised to find that the remaining money is not as much as before.

If I am given the chance to win the jackpot from the lottery, I first take maybe a quarter of the total money to buy bitcoins. Meanwhile, I will save the other amount to meet my daily needs and prepare for my future.

The money is the money and it's mean the source you are getting it.After getting the winning of 600k you can split the money to two different half.Then keep one half for saving for your health expenses at the old age.Use the second half to inverse in some good cryptocurrency.If you not follow this two things,after some days all your money will be zero.Because it's very essential one to keep the plan after getting money from the lottery.Even it's unexpected winning,you make keep some future plan after getting huge money.It will be better time to execute that plan after winning money.

[Rabata]

The more you gamble, the more money you will lose. So if you want to talk about gambling and investing, both of them are contradicts each other.

Even you're won $600K in lottery, you want to start to create your own business or invest your money, it's not always success and you will make money as fast as you lose money through gambling.

It is true that how quickly a person can earn money from gambling that is not possible from any other platform. There is also a higher risk of losing. If the person who wins the lottery and invests some money from winning money in any business and gambles with the rest, he can gain a certain amount of money from his investment even if he loses . I think that a gambler needs a reliable income platform to gamble regularly. Though there is no guarantee in investing, but there is a possibility to recover somewhat more than gambling.

[qwertyup23]

This is also a reminder that money should be valued, and planned wisely, the loss of his wealth is a lesson that no matter how much we receive can be used up if we do not keep and manage properly. Even though his money was exhausted, something opened his mind in the midst of the hardship he was facing, the remaining apartment he owned.

This is the lesson that everyone should remember- even if you are experiencing financial stability, one accident or situation may change the whole situation.

There was a similar story in the Philippines were journalists interviewed several previous lottery winners and asked about their current status. As far as I know, majority of these previous lottery winners went back to their previous lives- some were broke and others were just barely making it every month.

The problem lies with the initial excitement. I mean, of course it is normal to celebrate this kind of achievement as the money you receive can either make or break you. But without any proper financial management, eventually, all of those lottery money would go to waste.

[aioc]

But as they say, a kind person is often abused. Because of his kindness, many people came forward and borrowed money. Because he can't say no, he gives the help that is asked of him. And over the years these debts were not paid to him. This caused disappointment and regret in his heart. Although he has goodness in his heart and intentions that are good for others, And this caused him resentment and sadness towards those who did not keep their promises to him.

In short, he became a victim of people who were arrogant towards others. And in an instant, his luck gradually disappeared as if he had become a withered vegetable, at the beginning he was happy with his success and the large amount of money he won. But with the passage of time and expenses careless decisions resulted in the loss of his wealth. he had expensive expenses such as buying a mansion house, cars and other properties.

This is one of the problems of lottery winners when people know that they've won a lottery those close to the winner feel that they've owned him and that the winner is obligated to share his blessing, if you are the kind that is kind-hearted you will give in to their request and demand.

Lottery winners should understand that even if he wins a huge amount of money they still have to keep or save for rainy days and minimize their expenses because there is a big temptation to overspend because of the urge coming from your relatives and friends, saving is challenging but educating yourself to be a good spender will save you in times of troubles in the future.

[piebeyb]

If I am given the chance to win the jackpot from the lottery, I first take maybe a quarter of the total money to buy bitcoins. Meanwhile, I will save the other amount to meet my daily needs and prepare for my future.

The right choice to buy bitcoin is very good for long-term investment, especially if it is in the form of money, it will run out quickly if you can't turn the money properly, so you choose the right path when investing in bitcoin, I will also choose the same path as you if I win the lottery that big .

Many have won the lottery in my city but unfortunately they never used the money properly and in the end they returned to poverty and gambled again in the end and some even became addicts, obviously not everyone has a healthy mind when they win big money because they are shocked get that money so they will buy whatever comes to their mind. that's the reason other people often go the wrong way in controlling their own desires.

[crwth]

Definitely going to invest in the right things that would make me live a comfortable life. It's going to be a stressful time because it would probably be hard to withdraw it and you are going to be so paranoid having so much but I would prefer it to be lumpsum so I could invest it already in what I need.

It's all going to be pretty good to think about but definitely not going to happen lol.