7 November 2012

Did you win $28 million last night?

| Holden Caulfield
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Apparently one of the four OzLotto winners last night was from Canberra. The total division one prize pool was almost $112 million, so that’s $28 million about to be injected into the ACT economy (or not).

Quoted in the SMH the local winner said:

“First of all we’ll pay off our mortgage then we’ll settle the kids’ mortgages. There are some other relatives we’d like to take care of too — they’ve been good to us.

“I’ll probably have a beer to celebrate.”

Whoever you are, congratulations. Spend it wisely.

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Holden Caulfield said :

Cheap said :

Hey, you just made a good return on some high risk five-dollar investments, right? No one needs to know exactly what’s in your bank account 😉

The Porsche collection might give it away. 😛

That would be my weakness. I could pay off my tiny mortgage, but i’d want a better place. I’d mostly travel though so may be able to avoid buying too much. Although people think because I travel I’m loaded, reality is I drive a small car, don’t drink or smoke and didn’t buy a house I couldn’t afford to own etc etc. Then I never stay in anything remotely expensive. I’m eagerly awaiting staying in some $5pn guesthouses in Cambodia next month 🙂

Holden Caulfield11:31 am 08 Nov 12

Cheap said :

Hey, you just made a good return on some high risk five-dollar investments, right? No one needs to know exactly what’s in your bank account 😉

The Porsche collection might give it away. 😛

Holden Caulfield said :

Cheap said :

Holden Caulfield said :

Cheap said :

If I won the lottery I would make sure that not even my significant other knew about it. I often hear that once the last dollar is spent, many realise that winning the lottery was the worst thing that ever happened to them

I’d be happy to take the risk.

The point isn’t that I wouldn’t take the lottery, the point is that I would be very careful who I told and how I spent it

Yeah, you’re right. The trick would be to keep a level head and to not drastically change things. Having said that I would resign from my job virtually straight away! I can see why not telling people is a good theory, but I would find it really hard. To be honest I don’t think I could live the lie of not telling anyone, which would bring its own problems.

Hey, you just made a good return on some high risk five-dollar investments, right? No one needs to know exactly what’s in your bank account 😉

Holden Caulfield9:42 am 08 Nov 12

Cheap said :

Holden Caulfield said :

Cheap said :

If I won the lottery I would make sure that not even my significant other knew about it. I often hear that once the last dollar is spent, many realise that winning the lottery was the worst thing that ever happened to them

I’d be happy to take the risk.

The point isn’t that I wouldn’t take the lottery, the point is that I would be very careful who I told and how I spent it

Yeah, you’re right. The trick would be to keep a level head and to not drastically change things. Having said that I would resign from my job virtually straight away! I can see why not telling people is a good theory, but I would find it really hard. To be honest I don’t think I could live the lie of not telling anyone, which would bring its own problems.

Pork Hunt said :

watto23 said :

I’d love to know what people actually do with 27 million.
Lets face it even if you bought decent houses thats 27 of them or more.
Spend 7 mill and earn 5% interest on the other 20 mill getting a million each year!

I’d spend some on fast cars, alcohol and loose women. The rest I’d just squander….
(apologies to George Best)

You’d be able to afford a liver transplant and then continue to drink like Georgie,what a player!

Mysteryman said :

You’d have to be a complete muppet to blow $29 million.

Yes, and there are hardly any of those around.

Holden Caulfield said :

Cheap said :

If I won the lottery I would make sure that not even my significant other knew about it. I often hear that once the last dollar is spent, many realise that winning the lottery was the worst thing that ever happened to them

I’d be happy to take the risk.

The point isn’t that I wouldn’t take the lottery, the point is that I would be very careful who I told and how I spent it

watto23 said :

I’d love to know what people actually do with 27 million.
Lets face it even if you bought decent houses thats 27 of them or more.
Spend 7 mill and earn 5% interest on the other 20 mill getting a million each year!

Live the rest of your life without worrying you couldn’t afford the best medical treatment for any illness, or having a mortgage you couldn’t pay off, or a holiday you couldn’t afford to go on, or a miserable job you couldn’t leave, or that you’d end up in a disgusting old people’s home being mistreated by staff and lying in a pool of wee all day.

Just to name a few things that sort of money would save you from.

Mysteryman said :

That’s because they’re stupid enough to spend it all. You’d have to be a complete muppet to blow $29 million.

I have heard a story of a Canberra family who won Lotto, blew it all, won it a second time, and blew it all again.

milkman said :

give the rest away. That amount could make an amazing difference to our local charities and communty groups.

Unfortunately it would probably do more harm than good. Most charities and community groups don’t have the skills and experience to manage large windfall gains. When money does appear like that, so do the ‘professional’ managers who proceed to gold plate everything. As the funding is unsustainable, the money soon runs out and so do the ‘professional’ managers, leaving the charity with expensive programs to run and no income.

AsparagusSyndrome10:23 pm 07 Nov 12

If I won that much… well, it wouldn’t change me…

OpenYourMind10:19 pm 07 Nov 12

The perception that many big winners end up broke, destitute etc is a bit of an urban myth. The ones that do are sensationalised and the ones that don’t, well their story is pretty boring and nobody gets to moralise about them.

Mysteryman said :

Cheap said :

If I won the lottery I would make sure that not even my significant other knew about it. I often hear that once the last dollar is spent, many realise that winning the lottery was the worst thing that ever happened to them

That’s because they’re stupid enough to spend it all. You’d have to be a complete muppet to blow $29 million.

Exactly, smart people don’t see the $27m figure, they see the return on investment figure as what they can actually spend.

Granted, you may use some of the winning to pay off debt upfront and buy a couple of nice things. But the vast bulk should be put into investments, and you live comfortably off the interest.

Unfortunately most are won over by the massive figure, blow it, and that’s why the stats on lottery winners going broke, suffering depression and having family breakdowns is surprisingly high.

Cheap said :

If I won the lottery I would make sure that not even my significant other knew about it. I often hear that once the last dollar is spent, many realise that winning the lottery was the worst thing that ever happened to them

That’s because they’re stupid enough to spend it all. You’d have to be a complete muppet to blow $29 million.

Spykler said :

JimCharles said :

I remember the first big UK winner, when the press were anxious to identify him although he’d requested no publicity. The only thing released was that the winner was male, had spent the necessary 24 hours listening to the lottery’s financial advisers, then had immediately flown to Miami and communicated that he had absolutely no intention of ever returning to the UK. They didn’t really use it for marketing purposes in the end.

At least two winners of those enormous Camelot jackpots have necked themselves- I was over there when the 100 million pound jackpot was won by a 26 year old guy- after 2 months he had more friends and long-lost relatives than he knew what to do with. He didn’t have a moment’s peace and a year later ended it all..

Darwinsism at work… Was not equipped to survive.

*Jim Carrey voice on*

IT WAS MEEEEEEEEEEEEE

*voice off*

JimCharles said :

I remember the first big UK winner, when the press were anxious to identify him although he’d requested no publicity. The only thing released was that the winner was male, had spent the necessary 24 hours listening to the lottery’s financial advisers, then had immediately flown to Miami and communicated that he had absolutely no intention of ever returning to the UK. They didn’t really use it for marketing purposes in the end.

At least two winners of those enormous Camelot jackpots have necked themselves- I was over there when the 100 million pound jackpot was won by a 26 year old guy- after 2 months he had more friends and long-lost relatives than he knew what to do with. He didn’t have a moment’s peace and a year later ended it all..

Holden Caulfield said :

Cheap said :

If I won the lottery I would make sure that not even my significant other knew about it. I often hear that once the last dollar is spent, many realise that winning the lottery was the worst thing that ever happened to them

I’d be happy to take the risk.

Yep, I’m willing to chance it…

I remember the first big UK winner, when the press were anxious to identify him although he’d requested no publicity. The only thing released was that the winner was male, had spent the necessary 24 hours listening to the lottery’s financial advisers, then had immediately flown to Miami and communicated that he had absolutely no intention of ever returning to the UK. They didn’t really use it for marketing purposes in the end.

How_Canberran5:26 pm 07 Nov 12

I’d spend it all on shares in Canberra’s light rail extravaganza…..I’m sure to double my money overnight!

How Canberran

I’d be on the phone to real estate agents at Bondi Beach asking about buying a weekender apartment.

No, bugger it.

watto23 said :

I’d love to know what people actually do with 27 million.
Lets face it even if you bought decent houses thats 27 of them or more.
Spend 7 mill and earn 5% interest on the other 20 mill getting a million each year!

I’d pay off my home loans, buy a new car, stick some cash in a term deposit then give the rest away. That amount could make an amazing difference to our local charities and communty groups.

Holden Caulfield5:17 pm 07 Nov 12

Cheap said :

If I won the lottery I would make sure that not even my significant other knew about it. I often hear that once the last dollar is spent, many realise that winning the lottery was the worst thing that ever happened to them

I’d be happy to take the risk.

watto23 said :

I’d love to know what people actually do with 27 million.
Lets face it even if you bought decent houses thats 27 of them or more.
Spend 7 mill and earn 5% interest on the other 20 mill getting a million each year!

I’d spend some on fast cars, alcohol and loose women. The rest I’d just squander….
(apologies to George Best)

If I won the lottery I would make sure that not even my significant other knew about it. I often hear that once the last dollar is spent, many realise that winning the lottery was the worst thing that ever happened to them

I’d love to know what people actually do with 27 million.
Lets face it even if you bought decent houses thats 27 of them or more.
Spend 7 mill and earn 5% interest on the other 20 mill getting a million each year!

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