A Poor Man With Lots of Money
What would you do if you receive a windfall of $58 million? Stop working and travel around the world? It could be a life changing experience! Some say that money can’t buy you happiness! But you’ll never know until you have the money.
One super lucky guy from Melbourne won the Lotto Jackpot last night grabbing A$58 million (equivalent to US$55 million or Ph pesos 2.42 billion)! This is considered the biggest lottery win in Australian history!
While there are a lot of people saddened that they lost a lot from betting, only few people enjoy the winnings. Do you think Lotto is unfair? For an average person earning only a meager income Lotto might be a chance to get rich and improve lifestyle. At least Lotto gives hope to everyone who wants to dream big. By only putting a little amount of money you’re given the chance to earn millions. However, if you have been doing it for several years you may come to think of it that you have been ripped off all these years!
Well that’s how gambling works. I still consider myself lucky. I only bet two to three times ever since and lost only $9 on last night’s draw from joining the office syndicate. Congratulations to the lucky person whoever he is. I know his identity won’t be disclosed. I hope he’s a person who really in need of money and will use it for good and spend it wisely!
P.S. The 21 Wilson Street community now offers updates delivered to your inbox. Click here if you want to receive updates by email.
All the best to whoever won it! I don’t think lotto is unfair.
I think it was 4 construction workers from Victoria.
They said they will invest and give some to charity.
Maybe you can give them some investment advice?
Of course Lotto is unfair. It is far worse than the games at the casino, with a much lower average return on your investment.
It is a foolish investment based purely on financial terms. However, as you rightly point out Wilson, the hope that it gives can balance out the negative financial nature.
The problem with Lotto is that the financial system in capitalist countries is designed to reward intelligence not luck. It is unfortunate but often when people win large windfall gains, they invest poorly or otherwise spend the money in an irrational manner.
There are countless cases of people winning Lotto and things turning out badly.
Winning Lotto won’t make you happy.
Something freely given has no value.
Since you didn’t work for the money, you are unlikely to derive any lasting satisfaction from it.
You are much better off working hard, saving your money and investing it. Then when you come to spend it, it will be far more satisfying.
One line in the lyrics of the song Bohemian Rhapsody says “Easy come, Easy go!”. We can relate this to getting something that you have not worked hard for.
Based on history, lottery winners invest their winnings poorly and they end up bankrupt after a few years. That’s why in the US, lottery winners now have the option to claim their prizes in lump sum or in annuity. If they opt to receive installment payments they’ll receive additional amount as a form of interest payments. I think this is good to be implemented in Australia as well.
Dammit, I wish i won the 50 mil lotto.. then u won’t ever see me again.. hahahaha…. i’ll be off far far away…