Bye madam! Domestic worker wins R70m Power Ball jackpot

SaiyanZ

Executive Member
Joined
Jun 5, 2008
Messages
7,572
expect the sales of bibles going through the roof...:unsure:
Seems like praying actually worsens your chances of winning. The other 1 million people that prayed never win. So the stats say that if you pray you have a 99.999% chance of not winning.
 

Barbarian Conan

Expert Member
Joined
Aug 8, 2017
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1,249
Wtf you gon blow 70m on?
For someone who probably earned R5k per month, R70 million will feel like infinite wealth. Hell, to me it will feel close to infinite.
After the R3mil house, and the R10 mil on houses for family and friends come the cars, then then day to day expenses where you don't keep track of what you spend, because it seems impossible to burn through R70 mil.
Before you know it, you spend R200-300k per month on clothes, jewelry, and restaurants and it just keeps escalating as you find out about new things you want. 5 - 10 years later you have nothing left.
 

Ancalagon

Honorary Master
Joined
Feb 23, 2010
Messages
15,508
Just think - the Euromillions jackpot is £143 million.

That is around R2.5 billion.

I have bought a ticket - I have a one in 185 million chance of winning.
 

Jchan11hk

Senior Member
Joined
May 12, 2014
Messages
608
If she puts all R70m in the money market account, then she will probably have R5m a year, that would last she a lifetime, I think.

Not the best option but the safest option here.
 

wbot

Well-Known Member
Joined
Aug 30, 2017
Messages
186
Damn.

I would be on the first plane out of here. Most I ever won was about R1400 way back when.
 

Tman*

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Jul 18, 2012
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2,473
For someone who probably earned R5k per month, R70 million will feel like infinite wealth. Hell, to me it will feel close to infinite.
After the R3mil house, and the R10 mil on houses for family and friends come the cars, then then day to day expenses where you don't keep track of what you spend, because it seems impossible to burn through R70 mil.
Before you know it, you spend R200-300k per month on clothes, jewelry, and restaurants and it just keeps escalating as you find out about new things you want. 5 - 10 years later you have nothing left.
Don't forget about long lost family creeping out the woodwork that wants a handout.

I wish her all the best, but with no financial literacy I fear R70m will be gone within her lifetime.
 

rorz0r

Executive Member
Joined
Feb 10, 2006
Messages
7,857
Buying a house close to the winnings value would be suicide... Transfer costs, maintenance, insurance, rates, etc will chow money pretty fast on those super fancy houses. Even buying a 5m house needs to be planned pretty carefully if you have basically nothing to fall back on.
 

SauRoNZA

Honorary Master
Joined
Jul 6, 2010
Messages
33,631
Wtf you gon blow 70m on?
A sensible person wouldn’t blow it on anything and immediately invest it to live off the interest/dividends.

That will sadly not be the case here. Anyone who mentions Jesus will be running away with the money.
 

ForceFate

Honorary Master
Joined
May 18, 2009
Messages
18,488
A sensible person wouldn’t blow it on anything and immediately invest it to live off the interest/dividends.

That will sadly not be the case here. Anyone who mentions Jesus will be running away with the money.
I bet the pastors are already circling like vultures, reminding her of her obligations as a church member

/flamesuit
 

^^vampire^^

Expert Member
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Feb 17, 2009
Messages
3,456
My mother knew a guy that ran a company that installed blinds. Their worker that stayed on the property won R50 mill on the lotto about 10 years back. He still asked the company owner whose back room he was staying in at the time if he could keep the room for him in case he needs to come back to work. He also asked if he would be able to now afford a house (to which my cousin asked "how many would you like?").

Unfortunately people in this position struggle to understand exactly how much they now have and that's where the trouble lies. It quickly becomes a spiral of spending on yourself and others and then the money disappears all of a sudden, especially when you struggle to cenceptualise the amount you have and how to manage it appropriately. I just hope she comes right and manages to live a life that doesn't screw her in the end.
 

Hamster

Resident Rodent
Joined
Aug 22, 2006
Messages
31,375
Wtf you gon blow 70m on?
Ask the financial ad-vultures that'll circle in her.

I think you lack imagination though. If I had all the money in the world and bought everything I always wanted including neighbouring islands (one for me, one for my holiday resort) I'd buy a harbour, airport and also a research facility with the sole focus of being able to launch 300m long oil tanker into space...
 
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