A person who won 600k$ in lottery

[okorieemmanuel]

It’s hard part to control your emotion in the gambling after the big one like 600K dollars in the gambling.

That's true. The person is very lucky. Sometimes it is better to win small bits till it eventually gets big than to win one big sum like $600k.

[ethereumhunter]

Trusting a friend is a good thing and should be done but besides that, of course we also have to realize that as long as there are some friends by our side then we must realize what someone's true character is like.
I personally have some problems about some people who think they are "friends" but end up having problems when it comes to money. I am a person who does not want to bother, I actually test some of my friends when they borrow money for whatever purpose it is. When they pay according to the agreement regardless of whether it is for gambling or not I will still lend it but if they break it once then we already know what to do because when it is allowed once then they will try again to make a loan and that is what we should avoid because even if it is a friend still in financial matters we will not always trust other people.

Indeed, in some circumstances. Friends, money and gambling are sometimes always a problem that cannot be avoided but to take care of ourselves even though we can still be said to be bad in the eyes of many people for gambling but we certainly cannot endanger ourselves with friends who are not too good with us.

A friend will not cause problems with us even though sometimes we still have disagreements with them, but that is normal. And as long as the dispute is not serious and is still accepted, it is not a problem and can make our relationship even closer. But if a friend only wants to take advantage of another friend, he is not a friend and just "an" ordinary friend. Testing friendships using money can find out their character so that we don't choose the wrong friend to become a friend. That's different. But for a friend, if they borrow money from us, they must need the money because I used to encounter situations where a friend needed money and borrowed it from me. In reality, he needed the money because it was for his family's needs and because of that, I didn't want to accept the money and he didn't need to give the money. There were many reasons why I finally decided not to accept his money and in the end, he became one of my best friends until now.

Correct. That's why we must be able to take care of ourselves in friendships and friends will take care of each other. A friend will not let his friend experience problems and will help him. If we have a friend like that, we are really lucky because he is a friend who can even be like a brother to us.

[Hirose UK]

It’s hard part to control your emotion in the gambling after the big one like 600K dollars in the gambling.Because he had huge money,which is enough for the family to live their life over a period of 100 years.So he try to bet again and again to get some more dollars.Since he had huge liquidity of the cash,the gambler will try the same lottery atleast for the fifty percentage of the money which is 300k dollars.So the gambler should think himself about wasting of the money again,if they undergo the continuous loss.The gambler can try for the 100k dollars for the new winning from the same lottery.If they really had a luck.Surely he will win the game,if not it’s best way to pause the game and use the money in their real life.

That true and indeed controlling your emotions and controlling yourself to stay on the right path after getting a big win is very difficult to do in fact quite a few gamblers lose all their winnings because of greed to be able to have an even bigger win.
$600k is not a small number and anyone can use $600k to generate bigger profits and create a business legacy for their descendants when the money is allocated as capital to build a business or collaborate with large companies as investors.
But amazingly very few people think like this and most prefer to re-bet or return some of the winnings to the house edge.

When I hear or know people like that who make mistakes and can't take advantage of their victory there is only one thing I will say namely go away with regret and experience life with second suffering.

[FanEagle]

Even with that much money, I would probably put most of it on bitcoin. Think about it, if bitcoin reaches from 25k levels to 250k levels (which is not impossible, just needs time) we are talking about 6 million dollars instead of 600k, and that's a huge amount of money.

This would be a useless risk if I didn't know about bitcoin, but I know it and I know that it will reach 250k levels, that will happen either in a few years after the halving, or maybe it will happen the next halving after this one, but I am sure that it will happen. Worst case worst, we will have 100k+ bitcoin which would turn that 600k into a few million dollars. So no matter how rich I get, bitcoin seems like the only and the best investment to me.

[fullhdpixel]

The next mistake was to lend money to people without collateral or guarantees. The world is filled with dishonest people that don't keep their word.

I just learned this recently, my experience says just don't lend money in first place to people. It's unnecessary trouble.

I experienced once that a friend asked for loans because he was suffering (it was my university/campus era). We four friends gave him some amount of money but in return we realized he was literally planning a holiday at Mediterranean coastal region at my country. It was my last loan experience. I only give money to people I love. Otherwise no loans given. I tell people that ask money to get a loan from a bank. Even if I win lottery I would do same.

It's all about what kind of nature you have. Some people simply find it difficult to say no to anyone, especially if the one asking is a relative or a close one, they can't say no when they ask for money or anything, and some people will misuse this thing. When they come to know that this person has won a lottery or has gotten a lot of money, they will deliberately go and ask for money even if they don't have that money urgently just because they know the person won't say no.

And, when someone is too decent and naïve, people just take money from them and don't return it knowing that person won't ask them for it and will just keep waiting for them to return the money but they will never do it because they know they are not being forced or asked again and again by the lender.

[Silberman]

It's all about what kind of nature you have. Some people simply find it difficult to say no to anyone, especially if the one asking is a relative or a close one, they can't say no when they ask for money or anything, and some people will misuse this thing. When they come to know that this person has won a lottery or has gotten a lot of money, they will deliberately go and ask for money even if they don't have that money urgently just because they know the person won't say no.

And, when someone is too decent and naïve, people just take money from them and don't return it knowing that person won't ask them for it and will just keep waiting for them to return the money but they will never do it because they know they are not being forced or asked again and again by the lender.

And even if they were asked to return the loan they will simply refuse arguing that the lottery winner does not need the money, proving once again that it is a bad idea to mix money with family members, now it may look bad to deny a loan to a member of your family, but it has to be done especially if the loan is not for an emergency, and instead it is money that is going to be used to buy something they do not really need.

[maydna]

It's all about what kind of nature you have. Some people simply find it difficult to say no to anyone, especially if the one asking is a relative or a close one, they can't say no when they ask for money or anything, and some people will misuse this thing. When they come to know that this person has won a lottery or has gotten a lot of money, they will deliberately go and ask for money even if they don't have that money urgently just because they know the person won't say no.

And, when someone is too decent and naïve, people just take money from them and don't return it knowing that person won't ask them for it and will just keep waiting for them to return the money but they will never do it because they know they are not being forced or asked again and again by the lender.

I've been guilty of allowing people to exploit my generosity. It is human nature to want to help someone when they come to you for help and you believe they have genuine intentions. A financially responsible person should understand that it is impossible to take care of everyone's needs and be able to hold back. If you try to be everybody's savior then you will end up in a situation where you are the one struggling and needing help.

I also don't like other people taking advantage of my generosity, but that's what happens because some still want to borrow money from me. And I still give loans to them but with a note not for gambling.

Luckily, I never won the lottery with a big prize, so no one borrowed money because they had heard I won some money from the lottery. If that happens, maybe I have to be really selective in choosing people who can borrow money from me. I don't want them to be in trouble because they can't get their money back. But if I could win the lottery, I would just keep quiet and pretend nothing had happened to use the money secretly.

[Pamadar]

Even with that much money, I would probably put most of it on bitcoin. Think about it, if bitcoin reaches from 25k levels to 250k levels (which is not impossible, just needs time) we are talking about 6 million dollars instead of 600k, and that's a huge amount of money.

This would be a useless risk if I didn't know about bitcoin, but I know it and I know that it will reach 250k levels, that will happen either in a few years after the halving, or maybe it will happen the next halving after this one, but I am sure that it will happen. Worst case worst, we will have 100k+ bitcoin which would turn that 600k into a few million dollars. So no matter how rich I get, bitcoin seems like the only and the best investment to me.

If your trust is up to that far, then that plan is for real. Knowing the chance of this to happen is really possible. It's just the timing and how good you are in holding and patiently wait for that time to come.

Or, you can also divide your winning money and see other alternative venue aside from crypto, chances to grow
your money is always possible. You just need to take time to learn about the best investment to use the money
to work for you.

[Shamm]

What would you do if one day you won the lottery? What are you planning to buy and who do you want to include in your success?

For me  once I have my luckies day and win that big amount then all I can say is first I want to budget to build a business that will surpass in  the long run which is I'll choose to build a business that many people can avail which their needs is the best thing si business. And also I'll buy A house so that I'll have my own house and then some of my money I'll put in the bank . Then my main plan is investing a good coin .

[LUCKMCFLY]

What would you do if one day you won the lottery? What are you planning to buy and who do you want to include in your success?

For me  once I have my luckies day and win that big amount then all I can say is first I want to budget to build a business that will surpass in  the long run which is I'll choose to build a business that many people can avail which their needs is the best thing si business. And also I'll buy A house so that I'll have my own house and then some of my money I'll put in the bank . Then my main plan is investing a good coin .

Well, I think that each person has their own way of thinking and doing certain things. If I had a fairly large amount of money, in this case I would like to be able to have many aspects because we are living in a situation where things can be very changing, I can't leave everything in bitcoin because obviously if a global catastrophe occurs things are going to fall and the internet, electricity service can fail, how to get money there? I would have to buy some houses, because cad 34 house 1 house, just like in monopoly, I would also like to buy gold, both physical and digital, also have some cash and have tangible businesses, whatever, something that would interest me. I would use money at all times, part of it I would allocate to trading and part of it I would allocate to a good investment, I think that would be my way of having my money diversified.

Every time we mention money, or something, we Quickly see a way to do something with money, of course most of it is about spending money , buying a house, a car, having luxuries, but I think that's not enough, Yes, it can be bought, but we are not thinking about multiplying the money, because money is finite, it can be spent and we can run out of money, just as Robert Kiyosaki says, if we do not have a high financial allowance, the money is gone. and we can't do anything, so this type of thing is what a decent person would do, but poor in mind, a person who doesn't want to multiply his money. Zero is something very empty, because you can earn a large amount, but if not We seek to multiply money, we are not doing anything and if we only think about spending, and even spend unnecessary things, it is something that does not make sense, it will never make Sense, so in this order of ideas we could be present in a situation that It's good to read every opinion here from the forum Members , everyone contributes Something that can Help us.

[Mr. Magkaisa]

Even with that much money, I would probably put most of it on bitcoin. Think about it, if bitcoin reaches from 25k levels to 250k levels (which is not impossible, just needs time) we are talking about 6 million dollars instead of 600k, and that's a huge amount of money.

This would be a useless risk if I didn't know about bitcoin, but I know it and I know that it will reach 250k levels, that will happen either in a few years after the halving, or maybe it will happen the next halving after this one, but I am sure that it will happen. Worst case worst, we will have 100k+ bitcoin which would turn that 600k into a few million dollars. So no matter how rich I get, bitcoin seems like the only and the best investment to me.

       -   Well, after you said that, I can't disagree with the last thing you said, mate, which is that Bitcoin is the best investment that is good to hold long-term. If I were a rich person, I would actually buy a lot of it. So the rich people who are open to Bitcoin are very lucky, to be honest, because they will surely get richer in the future.

So I only see other altcoins if it's a bit okay for me in my situation to provide potential savings when there's a bull run again next year. Although, even with Bitcoin, I can only accumulate a little for sure, at least I have holdings.

[MainIbem]

This is were must people got it wrongly because as someone whom had faced life and had lots of experience should be well prepared in terms of finance and personal wellbeing. Most times the people who came to borrow money from him might be directly sent by God to make him realized that he is actually going wrong ways, okay let's say if not for those people who came to borrow money his reasoning was like life is very sweet maybe God had changed his story meaning he can live any life he wanted, but wrongly God never like a waster someone who waste resources.

Let take a view of what happened, now he can be able to manage with the remaining property he acquired and also renewed the house for rentals or rentage meaning if this didn't happened there were no way he could have gotten this sense to be more economical with his spending. Most times things happens for people to immediately picked correction and make a u-turn of their lives before they could go worster.

As a gambler whenever you are lucky enough to strike a huge winning we should invest wisely and uses our money careful because the life changing opportunities can never be restored again in life, as opportunities they said comes in one.

[wiss19]

What would you do if one day you won the lottery? What are you planning to buy and who do you want to include in your success?

For me  once I have my luckies day and win that big amount then all I can say is first I want to budget to build a business that will surpass in  the long run which is I'll choose to build a business that many people can avail which their needs is the best thing si business. And also I'll buy A house so that I'll have my own house and then some of my money I'll put in the bank . Then my main plan is investing a good coin .

I think buying materialistic things shouldn't be the priority in case one manages to win such a large amount, and it should be used to create businesses and income streams so that they can earn a lot of money through those income streams and then they can use that money to build whatever they want in their lives including houses, buying cars, or whatever they like to do, they can even start investing in cryptocurrencies or real estate once they have their income streams set.

The reason why I say that is because when you have multiple income streams, you will have a good cash inflow which will make your money keep increasing so that when you spend money on something, your wealth doesn't go down over time and it stays balanced or keep going up in the long run.

[Silberman]

I think buying materialistic things shouldn't be the priority in case one manages to win such a large amount, and it should be used to create businesses and income streams so that they can earn a lot of money through those income streams and then they can use that money to build whatever they want in their lives including houses, buying cars, or whatever they like to do, they can even start investing in cryptocurrencies or real estate once they have their income streams set.

The reason why I say that is because when you have multiple income streams, you will have a good cash inflow which will make your money keep increasing so that when you spend money on something, your wealth doesn't go down over time and it stays balanced or keep going up in the long run.

Your advice is right but the people that do that are the minority among the lottery winners, and we know this is true as many of them lose their fortune just a few years after they won it, so to those people the idea of creating a business with that money or to invest it never crosses their mind and that is because those thoughts never crossed their minds before either, so the first thing they do is to spend that money in all kind of luxuries they do not need and that they cannot maintain.

[Betwrong]

I think buying materialistic things shouldn't be the priority in case one manages to win such a large amount, and it should be used to create businesses and income streams so that they can earn a lot of money through those income streams and then they can use that money to build whatever they want in their lives including houses, buying cars, or whatever they like to do, they can even start investing in cryptocurrencies or real estate once they have their income streams set.

The reason why I say that is because when you have multiple income streams, you will have a good cash inflow which will make your money keep increasing so that when you spend money on something, your wealth doesn't go down over time and it stays balanced or keep going up in the long run.

Your advice is right but the people that do that are the minority among the lottery winners, and we know this is true as many of them lose their fortune just a few years after they won it, so to those people the idea of creating a business with that money or to invest it never crosses their mind and that is because those thoughts never crossed their minds before either, so the first thing they do is to spend that money in all kind of luxuries they do not need and that they cannot maintain.

But we shouldn't forget that if you open a business it will not necessarily be profitable. It's not like if we buy luxuries - we are broke, if we invest in a business - we prosper. All money invested in a business can be lost. I would suggest to spend half of your winnings on "luxuries", I mean, on the things you've been dreaming of your whole life.

[xSkylarx]

What would you do if one day you won the lottery? What are you planning to buy and who do you want to include in your success?

For me  once I have my luckies day and win that big amount then all I can say is first I want to budget to build a business that will surpass in  the long run which is I'll choose to build a business that many people can avail which their needs is the best thing si business. And also I'll buy A house so that I'll have my own house and then some of my money I'll put in the bank . Then my main plan is investing a good coin .

There are times really that when that huge pile of money is already in our hands we tend to get mental blocks and we tend to get carried away by our emotions like giving tips to everyone or doing partying because we thought our huge money wouldn't be gone easily but if we think in a straight path investing and saving should be our first priority. In this case even others who before won a lottery think of investing in business but it turns out they just lost it by spending too much on useless things.

We should have discipline in spending that huge amount of money and where to spend it because no matter how big it is if we can't control our urge to spend it on useless things that money will be gone easily.

[lienfaye]

I think buying materialistic things shouldn't be the priority in case one manages to win such a large amount, and it should be used to create businesses and income streams so that they can earn a lot of money through those income streams and then they can use that money to build whatever they want in their lives including houses, buying cars, or whatever they like to do, they can even start investing in cryptocurrencies or real estate once they have their income streams set.

The reason why I say that is because when you have multiple income streams, you will have a good cash inflow which will make your money keep increasing so that when you spend money on something, your wealth doesn't go down over time and it stays balanced or keep going up in the long run.

Your advice is right but the people that do that are the minority among the lottery winners, and we know this is true as many of them lose their fortune just a few years after they won it, so to those people the idea of creating a business with that money or to invest it never crosses their mind and that is because those thoughts never crossed their minds before either, so the first thing they do is to spend that money in all kind of luxuries they do not need and that they cannot maintain.

But we shouldn't forget that if you open a business it will not necessarily be profitable. It's not like if we buy luxuries - we are broke, if we invest in a business - we prosper. All money invested in a business can be lost. I would suggest to spend half of your winnings on "luxuries", I mean, on the things you've been dreaming of your whole life.

Indeed. Well, it's understandable to buy and do the things that you only dream of before. A life of becoming rich instantly. However if you let yourself be drown to luxurious way of living and forget where you came from. Your sudden fortune might go to waste if you didn't think wisely to invest in things that can give you passive income. Certainly building business doesn't have an assurance of guaranteed profits. But that's much better rather than not trying.

Anyway only few people are given a chance to become rich through gambling so if you're among of those, make the most out of it but don't forget to keep something for the welfare of your family.

[ethereumhunter]

Indeed. Well, it's understandable to buy and do the things that you only dream of before. A life of becoming rich instantly. However if you let yourself be drown to luxurious way of living and forget where you came from. Your sudden fortune might go to waste if you didn't think wisely to invest in things that can give you passive income. Certainly building business doesn't have an assurance of guaranteed profits. But that's much better rather than not trying.

Anyway only few people are given a chance to become rich through gambling so if you're among of those, make the most out of it but don't forget to keep something for the welfare of your family.

I agree with you because the opportunity to become rich through gambling is a once in a lifetime opportunity and not many people can get it. It becomes a life changer for us in a short time and we can use all the money for the benefit of us and our family. But many people are complacent and tempted to fulfill needs that they don't need, so they forget to prepare better for their future.

The dream of becoming rich has been achieved. Now, it's just how we can use money to live well. If those who win a lot of money can organize their lives with that money, including preparing some money for the future, their lives will slowly change. There is no need to change your life suddenly, especially if you have a lot of money, but manage your money allocation well so that you can still have savings for your future.

[Silberman]

Your advice is right but the people that do that are the minority among the lottery winners, and we know this is true as many of them lose their fortune just a few years after they won it, so to those people the idea of creating a business with that money or to invest it never crosses their mind and that is because those thoughts never crossed their minds before either, so the first thing they do is to spend that money in all kind of luxuries they do not need and that they cannot maintain.

But we shouldn't forget that if you open a business it will not necessarily be profitable. It's not like if we buy luxuries - we are broke, if we invest in a business - we prosper. All money invested in a business can be lost. I would suggest to spend half of your winnings on "luxuries", I mean, on the things you've been dreaming of your whole life.

Without a doubt a business can fail and you could lose that money as well, however someone that is looking to create a business out of their lottery profits has more chances of generating more money and remain with such high standards of living for the rest of their lives, while someone that just spends their money away will eventually run out of money and they will have no choice to downgrade and try to live in a more modest way, something that is very difficult to do for anyone that thought they have finally become wealthy.

[Westinhome]

Without a doubt a business can fail and you could lose that money as well, however someone that is looking to create a business out of their lottery profits has more chances of generating more money and remain with such high standards of living for the rest of their lives, while someone that just spends their money away will eventually run out of money and they will have no choice to downgrade and try to live in a more modest way, something that is very difficult to do for anyone that thought they have finally become wealthy.

If the person get the money from the lottery,it will be the unexpected money from the source.So mostly the gambler will start the business using the money,business will be the most liked one.Everyone like to have some business apart from all the real jobs,because only the business make us rich person.The labour based system only made you like a money dependent on every month.Their was huge difference between the person who do business by saving the money and the person who do business using the lottery winning money.So the person who do business with lottery winning should be cautious not to lose it.