What I'd Do with a Winning Lottery Ticket
The Lotto 6/49 draw was held today and is worth $42 million, the second largest pot ever in Canadian history. To put that into perspective, that's the total payroll of the Toronto Blue Jays. Hmm ... that's a lot of money. I'm almost tempted to buy a lottery ticket. Someone's gonna be very lucky ... and happy today. This got me thinking about what I might do if I won. I guess I'll do a bunch of things:
1. Save $3 million and live off the interest.
- If I put $3 million in an investment savings account which pays 3.35% interest annually, that would give me about $8,375 per month non-compounding. That's good enough for a pretty comfortable but not too extravagant lifestyle I think. There'll still be excess each month after basic expenses so a vacation maybe once or twice a year would be feasible.
2. Invest $7 million in an investment portfolio
- A $7 million portfolio isn't big. That amount is pretty flexible, can take a hit in poor market conditions, and will give quite adequate returns. I'll probably invest about $3 million in a moderate to aggressive hedge fund, and the remaining $4 million in more traditional asset classes.
3. Buy land
- A smart man once said: Don't buy the building, buy the land. That's what RCBC in the Philippines is doing so well. They'll buy a large strip of land, put up a small building in the middle of it, then wait for the land to appreciate in value when everyone starts moving in. So I'll probably buy stretches of land in Mississauga, Milton and Brampton. Toronto's bound to expand in the future, there's just no avoiding it. I'll also buy some land in Alberta together with all that cattle.
4. Donate villages to GK
- Wealth is useless if it's not used to help others. I'll use a large portion of my winnings to build entire GK villages in the Philippines. It's the least I could do for my country and its people.
5. Finance the education of my cousins
- I'd be extremely happy if I had the opportunity and means to finance the education of my younger cousins. That would also excuse me from giving them gifts until after graduation. Knowledge is a gift that lasts a lifetime.
6. Be a freeter
- For 1 year or so I'd love to be a freeter. A freeter is someone who specializes in part time jobs. I'd just go around wherever my bicycle or second hand car takes me, apply for part time jobs and live the freeter lifestyle. Yeah it's sort of cheating cuz I'd already have financial security, but hey, I really don't want to scratch and claw just to survive on Kraft Dinners. Being a freeter would give me a chance to try and learn different things, and perhaps help me to find an undiscovered interest or passion.
7. Open up a restaurant
- I'd love to open a Filipino restaurant in Toronto or New York. Preferably one that's not turo-turo and doesn't involve Christmas lights and karaoke. I think the world is missing out on our food and has yet to really discover it. It'd be nice to open a restaurant or two that really showcases the flavours of our cuisine and the hospitality of our people. It's all in the presentation!
8. Open a TKD gym
- Taekwondo has taught me a lot of things in life, so one way to honour it is to open up a TKD gym. I'd probably have one here in Canada and another in the Philippines. The one in Canada would take in Pinoy instructors looking to establish themselves in their new adopted home, while the one in the Philippines would train and sponsor promising TKD jins who could someday represent the country in competition.
9. Establish a Foundation
- One of the saddest realities in life is the exploitation of young children for prostitution in the Philippines. It's a terrible injustice bred by poverty and hopelessness, which is why I would establish a foundation that offers rehabilitation, training, and support to these abused youths.
Ok, once I've done the above things, I could probably go on and do some of the more unecessary and wanton stuff like travel the whole world, buy an F1 car and yacht, buy a small island and have my face carved on a hillside a la Marcos. I would probably do more stuff but that would just be unrealistic .... much like this post.
Oh well, it doesn't hurt to dream!
1. Save $3 million and live off the interest.
- If I put $3 million in an investment savings account which pays 3.35% interest annually, that would give me about $8,375 per month non-compounding. That's good enough for a pretty comfortable but not too extravagant lifestyle I think. There'll still be excess each month after basic expenses so a vacation maybe once or twice a year would be feasible.
2. Invest $7 million in an investment portfolio
- A $7 million portfolio isn't big. That amount is pretty flexible, can take a hit in poor market conditions, and will give quite adequate returns. I'll probably invest about $3 million in a moderate to aggressive hedge fund, and the remaining $4 million in more traditional asset classes.
3. Buy land
- A smart man once said: Don't buy the building, buy the land. That's what RCBC in the Philippines is doing so well. They'll buy a large strip of land, put up a small building in the middle of it, then wait for the land to appreciate in value when everyone starts moving in. So I'll probably buy stretches of land in Mississauga, Milton and Brampton. Toronto's bound to expand in the future, there's just no avoiding it. I'll also buy some land in Alberta together with all that cattle.
4. Donate villages to GK
- Wealth is useless if it's not used to help others. I'll use a large portion of my winnings to build entire GK villages in the Philippines. It's the least I could do for my country and its people.
5. Finance the education of my cousins
- I'd be extremely happy if I had the opportunity and means to finance the education of my younger cousins. That would also excuse me from giving them gifts until after graduation. Knowledge is a gift that lasts a lifetime.
6. Be a freeter
- For 1 year or so I'd love to be a freeter. A freeter is someone who specializes in part time jobs. I'd just go around wherever my bicycle or second hand car takes me, apply for part time jobs and live the freeter lifestyle. Yeah it's sort of cheating cuz I'd already have financial security, but hey, I really don't want to scratch and claw just to survive on Kraft Dinners. Being a freeter would give me a chance to try and learn different things, and perhaps help me to find an undiscovered interest or passion.
7. Open up a restaurant
- I'd love to open a Filipino restaurant in Toronto or New York. Preferably one that's not turo-turo and doesn't involve Christmas lights and karaoke. I think the world is missing out on our food and has yet to really discover it. It'd be nice to open a restaurant or two that really showcases the flavours of our cuisine and the hospitality of our people. It's all in the presentation!
8. Open a TKD gym
- Taekwondo has taught me a lot of things in life, so one way to honour it is to open up a TKD gym. I'd probably have one here in Canada and another in the Philippines. The one in Canada would take in Pinoy instructors looking to establish themselves in their new adopted home, while the one in the Philippines would train and sponsor promising TKD jins who could someday represent the country in competition.
9. Establish a Foundation
- One of the saddest realities in life is the exploitation of young children for prostitution in the Philippines. It's a terrible injustice bred by poverty and hopelessness, which is why I would establish a foundation that offers rehabilitation, training, and support to these abused youths.
Ok, once I've done the above things, I could probably go on and do some of the more unecessary and wanton stuff like travel the whole world, buy an F1 car and yacht, buy a small island and have my face carved on a hillside a la Marcos. I would probably do more stuff but that would just be unrealistic .... much like this post.
Oh well, it doesn't hurt to dream!
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