This is a question that most people ask themselves every week. Some would say they will buy a house, buy a car, travel around the world, give some of it to charity or provide for their friends and family. If someone asks you, what would you do if you win, the amount that you think of might be 10 million or 60 million or a 100 million. But what if you could win R190 million!
What type of winner would you be?
Just imagine you are the winner of a pay out of R190 million. Would you share it or will you be stingy and keep it all to yourself? Not sure yet? Lottoland has recently conducted a survey in the UK to find out what people will do if they would win the lotto. They asked over 1000 people if and how they would share their £10 million (approx. R190 million) payout.
Here is what they had to say:
- To share or not to share
- With their families: majority of the respondents said that they will share between £1 and £5 million (approx. R19 – R95 million) off their winnings. Here the older generation of 55+ years will share on average £5 million (approx. R95 million) with their families.
- With their friends: a shocking 22% of the respondents said that they won’t share anything with their friends. The younger generation, age 18-34 years was the most generous towards their friends, sharing between £6 and £10 million (approx. R114 – R190 million).
- Donating to charity: on average everyone said that £100 000 (approx. R1.9 million) was the best amount to be donated. 15 people said that they will give their entire winnings to charity and 22% of the 55+ age group said that they would give nothing.
- Keeping the big news a secret
- 3% of the respondents said that they will go public while the other 90.7% want to stay anonymous.
- 16% of the younger age group (18-34 years) said that they will go public while only 10% in the 35-54 years’ age group will share the news and only 4% of the 55+ years group.
What if you really win?
Yes, you have the slightest chance that lady luck was on your side. Now what?
- For a start, listen to you mother and don’t spend it all at once.
- For your own safety and sanity don’t spread the news just yet.
- Don’t resign immediately, take your time and let the thought of being a millionaire sink in.
- Get your priorities in order, make sure you pay your debts of first.
- Speak to a trustworthy financial advisor and invest some of your money. Do your research to make sure that your money will be safe. Remember to keep your retirement in mind.
- Set your lifestyle and financial goals and stick to it.
- Don’t fall into the trap of the lifestyle of the rich and the famous. Remember who you are and that you survived all the years with what you had.
- Don’t forget to spoil yourself. After all, you did (hypothetically speaking) just won the lotto. As long as it stays within your financial planning of what to do with your winnings.
So why don’t you arrange a date with lady luck and introduce yourself, she might be the one you have been looking for and waiting for your whole life. This way you will find out what type of winner you are as well as what you will do with your money.
