First of all, I don’t gamble. Sure, 20 to 30 pesos would look just like a dent in the wallet, but it’s still hard-earned money that I don’t want to throw away. It is a principle of my life that I never want to go back from.
Besides, I’ve had my share of these stuff when I was a child.
But then, it always nice to see what one can do with the money – in terms of doing it properly and in a way that one
So, after 20% tax, thanks to TRAIN, a person would win 800 million pesos, give or take. Now, here’s what a person needs in order to enjoy a comfortable life, according to my opinion:
- A house with a lot (P10,000,000)
- A townhouse in the city (P30,000,000)
- Two cars (P10,000,000)
- A ton of life insurance (P6,000,000)
- Some agricultural land (P10,000,000)
- Some money placed into an investment portfolio (P10,000,000)
- Blow something reasonable for yourself: travel, gadgets, etc. (P4,000,000)
That is a total cost of P80,000,000 – and it’s just a drop in the bucket.
What would you do with the remaining P720,000,000? Assuming that you opt to place 400 million into a monthly pension (instead of getting it outright), that makes up for P666,667 per month.
You still have 320 million.
What do you do?
- Donate something back to the community or alma mater? P90 million?
- Of course, your family gets a cut. P100 million?
- Buy stocks in a stable company…P130 million?
That’s the only time you liquidate your 1 billion pesos.
I just hope that the winner does not just blows that kind of money on things that are utterly useless, such as living in hotel rooms, spending too much on vacations, giving handouts, or worse – gambling it at a casino…
Yes, money has a way of saying goodbye if not spent in a proper way.
So, there you go!!!
(1 USD = 54 PHP at the time of writing, so 1 billion pesos = $18,518,158.52, give or take).