Sarah Edens - Sudden Wealth Syndrome

[Ethan_]

People will start asking you for loans, and while it’s perfectly reasonable to expect them to pay you back, some might think you’re being selfish or a jerk for asking for the money back simply because, in their eyes, it’s “just lottery money” and you didn’t have to work for it.

Think never tell people one got money bah. Spend on whatever necessary. Maybe investment in a small business for risk investment. But park rest of the money in bank earn interest. Then just go about work as per normal like nothing much happen.

 

[Kanko San]

The question is how Large is large.

In sg context $10m is some of the largest jackpot available, but in the context of the world it is mere peanuts when many prizes start from $30m to $100m

Yes. The prize Tag is $5 or $10M...to poor guy is a lot, but the banker already collected 70%.

Even like S$13M (HK $80M), last Sat Mark 6 Haloween Draw = No winner.

This Thu , roll over S$21M......that is at least, if 1 winner, can afford to buy a brand new SD $8m to $10m, have left over $11M for maintenance n tax for next 20 years for their descendants.

 

[rarenick]

Think never tell people one got money bah. Spend on whatever necessary. Maybe investment in a small business for risk investment. But park rest of the money in bank earn interest. Then just go about work as per normal like nothing much happen.

Invest in a small business is risk management? More like seeking opportunities rather than being a risk management.

Put money in which bank and under which type of account?

 

[Firstclass1188]

You go first. I queue behind you

If he goes first and wins then you get nothing.

 

[Shion]

usually such wealth will also disappear fast

 

[Ethan_]

Invest in a small business is risk management? More like seeking opportunities rather than being a risk management.

Put money in which bank and under which type of account?

Erm, its investment, what management. Have to take some risk. No risk no gain. Got the money why not try out a small business (if all along have such thoughts, indulge abit). Lose also won't feel lugi much.

And think for those more conservative without much greed, put in bank grow interest more safe. Is sudden wealth leh, not like one is a genius can made that kind money. Just ordinary people only.

So, no need so greedy think too much, want to make even more great wealth out of it. 贪心不足蛇吞象. Can have that sudden wealth is a miracle liao.

 

[SimpleLife88]

I hope God Of Wealth gives me an opportunity to experience that next Monday.

Hahahaha everyone volunteer to test it out.

 

[rarenick]

Erm, its investment, what management. Have to take some risk. No risk no gain. Got the money why not try out a small business (if all along have such thoughts, indulge abit). Lose also won't feel lugi much.
And think for those more conservative without much greed, put in bank grow interest more safe. Is sudden wealth leh, not like one is a genius can made that kind money. Just ordinary people only.
So, no need so greedy think too much, want to make even more great wealth out of it. 贪心不足蛇吞象. Can have that sudden wealth is a miracle liao.

Oh risk investment, somehow I read too quickly tot risk management.

Bank always give little interest. Maybe put some into fixed deposits, bonds, treasury bills and a reasonable amount into blue chip shares and world index etfs (but not into managed funds especially if via insurers).

 

[dezzo69]

step 1: don't tell anybody

step 2: move the money into multiple accounts

step 3: use 1 account to automate bills paying

step 4: if you are married you are pretty much ****** because your spouse will want her cut.

step 5: go back to step 0 and don't get married

 

[Lchlch]

I am contented if my salary can cover monthly expenses and target saving.
I dnt need anymore...

 

[tobii0609]

donch overthink. in sg, the anxiety of becoming poorer is more real.

 

[Soracak]

Important to recognise that ppl who win a lottery are also ppl who are either unaware or ignore the fact that lotteries yield negative average returns. With newfound wealth they are the ppl more likely to buy a luxury car or watch out of boutique even with immediate depreciation.

 

[Mila Azul]

Think never tell people one got money bah. Spend on whatever necessary. Maybe investment in a small business for risk investment. But park rest of the money in bank earn interest. Then just go about work as per normal like nothing much happen.

Yup, if you have money, it’s better to keep it to yourself.