A person who won 600k$ in lottery - page 4.

Pamadar

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Quote from: FanEagle on September 19, 2023, 09:56:54 AM

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.

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Quote from: fullhdpixel on September 19, 2023, 10:05:42 AM

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.

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Quote from: fullhdpixel on September 19, 2023, 10:05:42 AM

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.

fullhdpixel

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Quote from: Pierre 2 on September 17, 2023, 02:51:58 AM

Quote from: libert19 on September 17, 2023, 02:07:23 AM

Quote from: Die_empty on August 04, 2023, 02:29:44 AM

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.

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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.

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Quote from: Westinhome on September 18, 2023, 01:59:30 PM

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.

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Quote from: topbitcoin on September 18, 2023, 07:01:08 AM

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.

okorieemmanuel

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Quote from: Westinhome on September 18, 2023, 01:59:30 PM

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.

Westinhome

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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.

tusandii

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Quote from: Rabata on September 17, 2023, 02:34:12 AM

It is true that when we see the big lottery winning prize, the more people are interested in getting it and the less likely they are to win that lottery. Even though lottery depends on luck but still people's interest in lottery does not decrease a bit. Because there is a chance of getting a life-changing fortune if the luck turns out to be good once in a lifetime. Although the number of such lucky people is limited, the number of people who buy the lottery is not limited.

It depends on how a person will use that money after winning the lottery but after winning 600k dollars he will definitely try to invest in a good business or any other investment so that he can get a reliable and regular income.

As I said before, this all depends on each individual's level of luck, but even so, gamblers will not feel discouraged and always try to buy the ticket in the hope that one day they will get a big jackpot even though the chance is very small, but they just believe that luck will come after taking risks like people who have won a big jackpot of 600k which provides motivation for lottery gamblers to try continuously buying lottery tickets to try their luck.
I think there's no harm in trying with the amount of $2 buying lottery tickets every day to try the luck that comes once in a lifetime as you said and I'm sure even if you don't get the jackpot you will definitely get a small multiplier.

as OP said someone wins 600k from the lottery it would be better to use it to open an established business to get the right income but if it is a gambler who has thoughts of wanting to be successful but for a gambling addict I think he will buy another lottery ticket and increase the amount of his bet or gambling on other casino games in the hope of winning another large amount.

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Quote from: maydna on September 12, 2023, 09:01:18 AM

Quote from: Silberman on September 10, 2023, 04:11:09 PM

Quote from: maydna on September 10, 2023, 09:11:59 AM

~snip~

And this is once again an example of short term thinking, if we are lucky enough to obtain important profits out of gambling then it would be a mistake to spend them all on things that we want, a part of that money should also go towards a business which can generate even more profits or it should become an investment that can eventually bring you even more money down the line, but after such a big win people are not thinking clearly and they seem to think their good luck will last forever.

By having thoughts like that, at least we already plan to use the money we will win from gambling. Starting a business will provide more money. Perhaps we won't need to gamble because there is already a source of income we can rely on, especially if we think about having an investment, which is a bitcoin investment, that will give us the opportunity to gain profits in the future so that we can have other sources of income from investing in bitcoin.

But gambling shouldn't be a source of income for us. It's very important to keep that in mind. If you have spare money, you can gamble for the sake of entertainment. If you don't have enough money, do not resort to gambling to increase the amount of money. It's like a rule, a rule that you might really regret breaking.

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Quote from: ethereumhunter on September 18, 2023, 02:21:37 AM

Quote from: molsewid on September 17, 2023, 11:46:36 AM

For me if you know that your friend will use that money to things that are not good then or whatever it is and when you feel that they are not going to pay you then do not. We are not responsible for their lives they should learn and not rely on us. Not because we have much they can freely to make a lend and not pay , they should learn to pay so we can give them chance again.

Yes, I will never again give a loan to a friend who can't repay the money, especially for gambling. I would never want to lend them money to gamble. We don't want them to have a debt to us that even they find difficult to pay. But if they can repay the debt without problems, I will want to lend them the money. So it depends on them and I don't want to burden them beyond what they can afford. And I also don't want our friendship damaged just because of debt problems.

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.

tjtonmoy

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Quote from: abel1337 on September 17, 2023, 12:46:45 PM

Yep this is true. This is why I always keep lowkey with my financial status, I have the habit of pretending to be poor or just an average citizen that is earning just enough to survive. This way, our surroundings won't stick an eyes on us and possibly won't be abused financially. Sometimes even the closest people in your life will change it's behavior to you when they learn that you have a money in a positive way given that they want you to share your "blessings" or in short money. One worst thing that might happen if they suddenly learned that you earned massive wealth is that they will do a "guilt trip" to you for them to manipulate you and get what they want.

I can say that I have experienced every bit you said. Even the closest persons those I call family did this to me. I was like, they are family, so I will help them in every way possible. And I did just that. After some time I wasn't making much money like I used to make before. And their whole attitude toward me changed. They did some horrible things that forced me to get out of the house and live on my own. It's been almost 2 years now. But now I am happy with my life. No regrets. I feel like I have done a great job leaving my house.

I like the idea of showing people that I'm an average person and poor. This has helped me a lot. No one comes forward to ask for money or has any expectations from me. Life is great.

lienfaye

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Quote from: Mr. Magkaisa on August 04, 2023, 01:48:46 AM

In short, he became a victim of people who were arrogant towards others. And in an instant, his luck gradually disappeared as if he had become a withered vegetable, at the beginning he was happy with his success and the large amount of money he won. But with the passage of time and expenses careless decisions resulted in the loss of his wealth. he had expensive expenses such as buying a mansion house, cars and other properties.

As they say, a money came from luck is easy to spend while if the money is earned through hard work, you'll value it more and this is certainly true. This story is not the first time for me to see a lottery winner lost everything after a wrong decision. Expensive way of living and spending on not necessary things (leisure) with people around taking advantage what you have is the wrong move that you'll only realize after losing it all.

Everyone will be there if you have money but in times of hardship there's only few that you can depend on, majority will just turn their back. It's good to be generous but be wise to secure your future (and your family) before anything else since it's a once in a lifetime opportunity and not everyone are fortunate to experience.

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Quote from: libert19 on September 17, 2023, 06:22:57 AM

I have few people too that I give money unasked because they have obtained my trust by always returning the amount on time.

Also, some people when you ask your own amount back they behave as if we owe them, and this is not something that I like.

Yes, it's great if someone can give you money without asking first. But most people won't want to do that and just wait for the time to pay their debt before they want to pay it. But what often happens is that they don't want to pay their debts because they don't have the money to pay their debts.

Quote from: molsewid on September 17, 2023, 11:46:36 AM

For me if you know that your friend will use that money to things that are not good then or whatever it is and when you feel that they are not going to pay you then do not. We are not responsible for their lives they should learn and not rely on us. Not because we have much they can freely to make a lend and not pay , they should learn to pay so we can give them chance again.

Yes, I will never again give a loan to a friend who can't repay the money, especially for gambling. I would never want to lend them money to gamble. We don't want them to have a debt to us that even they find difficult to pay. But if they can repay the debt without problems, I will want to lend them the money. So it depends on them and I don't want to burden them beyond what they can afford. And I also don't want our friendship damaged just because of debt problems.

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Quote from: tjtonmoy on September 17, 2023, 11:30:58 AM

One thing I have learned from life the hard way is that never share your financial condition with your family, friends, or anyone. The more you give the more they will want. And if you ask for the money back, you will become the bad one. The same goes with not giving money too. If they know that you have that money but you are not giving it to them, then you will become bad for them too.

In order to prevent this from happening, never share your personal status with them. And if they somehow get to know that you have something, then learn to say no. It is hard for some people but this is a very important skill to have. The more available you are to people the less valuable you are to them. Keep your privacy secret even from those who are your loved ones. You will be able to achieve many great things in life that way. Speaking from experience.

Yep this is true. This is why I always keep lowkey with my financial status, I have the habit of pretending to be poor or just an average citizen that is earning just enough to survive. This way, our surroundings won't stick an eyes on us and possibly won't be abused financially. Sometimes even the closest people in your life will change it's behavior to you when they learn that you have a money in a positive way given that they want you to share your "blessings" or in short money. One worst thing that might happen if they suddenly learned that you earned massive wealth is that they will do a "guilt trip" to you for them to manipulate you and get what they want.

molsewid

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Quote from: ethereumhunter on September 17, 2023, 06:08:09 AM

I've also experienced this several times before. I don't think that he can return the money as quickly as he promised, especially after he got the money, he didn't contact me again. That's when I finally learned that a friend not very close to us cannot always be trusted. Ultimately, I wouldn't lend money to someone I didn't know well and would say that I don't have any money. So when we win the lottery, we should not tell anyone except our family to avoid things we don't want. Besides that, saving money will be better and keep us away from people who want to borrow money.

For me if you know that your friend will use that money to things that are not good then or whatever it is and when you feel that they are not going to pay you then do not. We are not responsible for their lives they should learn and not rely on us. Not because we have much they can freely to make a lend and not pay , they should learn to pay so we can give them chance again.

tjtonmoy

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One thing I have learned from life the hard way is that never share your financial condition with your family, friends, or anyone. The more you give the more they will want. And if you ask for the money back, you will become the bad one. The same goes with not giving money too. If they know that you have that money but you are not giving it to them, then you will become bad for them too.

In order to prevent this from happening, never share your personal status with them. And if they somehow get to know that you have something, then learn to say no. It is hard for some people but this is a very important skill to have. The more available you are to people the less valuable you are to them. Keep your privacy secret even from those who are your loved ones. You will be able to achieve many great things in life that way. Speaking from experience.

Negotiation

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Quote from: angrybirdy on September 14, 2023, 05:34:49 AM

Quote from: mindrust on September 14, 2023, 05:04:44 AM

Quote from: Mr. Magkaisa on August 04, 2023, 01:48:46 AM

What would you do if one day you won the lottery?

I would male various investments and live off of their passive income. Stocks, bonds, real eastate and crypto. Especially crypto. However, even though $600k gives you a great head start, it is still not enough to create a decent passive income. 2 million USD is a more realistic target so, I would use that $600k and keep working till I reach $2m and then I would just do whatever I want. There is one thing I wouldn't do with that $600k though, I would never ever gamble with that money because every gambler knows that once you hit the big prize, it is a matter of time before you lose it if you keep playing.

That's definitely the best thing to do. Probably I would do the same, real estate would be my top pick as an investment. Investing in real estate would never be a failed investment and surely become the most efficient passive income, also the value of it will continue to increase unlike in other investments, where there's a possibility to go down.

It's good to stay connected before losing that much money but real estate prices don't fluctuate very easily. Rather real estate is a long term yet profitable investment real estate is the best investment for those who expect huge returns and want to invest for a long time. But before that you have to be very careful in investing the money that you will invest in real estate. Because investing in real estate is not supported everywhere it is quite risky. Investing in various nameless anonymous or sometimes even reputed companies can be a victim of irony.

libert19

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Quote from: ethereumhunter on September 17, 2023, 06:08:09 AM

Quote from: Pierre 2 on September 17, 2023, 02:51:58 AM

Quote from: libert19 on September 17, 2023, 02:07:23 AM

Quote from: Die_empty on August 04, 2023, 02:29:44 AM

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.

I've also experienced this several times before. I don't think that he can return the money as quickly as he promised, especially after he got the money, he didn't contact me again. That's when I finally learned that a friend not very close to us cannot always be trusted. Ultimately, I wouldn't lend money to someone I didn't know well and would say that I don't have any money. So when we win the lottery, we should not tell anyone except our family to avoid things we don't want. Besides that, saving money will be better and keep us away from people who want to borrow money.

I have few people too that I give money unasked because they have obtained my trust by always returning the amount on time.

Also, some people when you ask your own amount back they behave as if we owe them, and this is not something that I like.

Topic: A person who won 600k$ in lottery - page 4. (Read 2153 times)