Winning RM57,000,000 Jackpot.

The question is, how will you spend the money?

Kota Kinabalu June 27, 2014

Oh yes, before I proceed, why i'm talking about RM57,000,000 instead of RM100,000,000 is because this is the record amount of jackpot winning ever won by a person in Malaysia. I think it was won by an elder in his 70s. 

I had a short conversation with our office cleaning lady this morning about this. She's in her 60s and her husband had just passed away recently. She seems to always be in financial difficulty situation given her habits of borrowing money from people around her but money was always spent on necessities. At home, she has 2 very young grandchildren to look after. Her son is working in Singapore but only sends back very small amount of money for maintenance while her daughter in law does not earn much either. In conclusion, life is tough for her to make ends meet.

So, the questions I asked, and her answer was quite straight forward. To spend the money she won and enjoy life until the end of life. It's understandable. After all she has been in financial difficulties for quite some time and if she has this amount of money, definitely she would be very much relieved. 

For me, RM57 million is a large sum of money. If I have this amount of money, the first thing I will do is to leave it in my bank account and earn substantial bank interest from the money. Based on Malaysia current lowest FD interest rate offer at 3%, I should be getting about RM142,000 monthly. That's enough of money to spend for me without touching the principal. With this money, my priority is to bring my families to travel around the world because I truly believe in the fact that human are created to experience the world created by God. I also believe in serving humanity and to do so. I will donate some to people who really deserve. The money should be directly given by myself to that person instead of going through any charity organization or middleman. The rest of the money, I will spend for investments, family maintenance and education.

My rule is never touch the principal unless spending this will guarantee a return.

How about you?