Easy Come , Easy Go

lost 1

She won R13,900,000 Million in a South African Lottery

  • Blew R7 Million in 3 months.
  • Got charged R450K by her bank for premature withdrawal of R5 Million investment for her children
  • Gave her brother in law R1 Million
  • Bought the Estate Agent a VW Polo TSI and she paid her R5000 once.
  • She bought 10 cars but doesn’t have a single one left - Tiguan, Ford Ranger, Golf 7GTI and a Mercedes Benz C200
  • Lost R500K on a fake tender bribe
  • Traded a Golf 7 GTi for R7000 because she was broke.
  • She’s now broke and looking for a job …

MORAL OF THE STORY
You need Financial Literecy , Good Advice and Wisdom when blessed with a Fortune …
Otherwise , it just fades away … :blush:

2 Likes

She did well by investing 5m Rand for her kids.
That’s also most ksh 30m. But ended blowing it is very sad.
They always advice that if you win a lottery, put the money in a bank and do nothing with it for 2 years.
But human nature is human nature. It’s not just her. 99.9% of humans would do the same thing.

She deserves the aftermath. We can’t blame the human mind and generalize the situation.

1 Like

Whenever money comes in, we fulfill the desires in our hearts, they ain’t nothing with that though, going thru’ the motions.
If @cortedivoire wins that amount, the guy will rent out a whole flat of bedsitters, furnish every single one of them with a continental breakfast chair, and make sure they’re occupied 24hrs, so that he can eat a$$ whenever.

3 Likes

Sound advice from Master Investor , Warren Buffett …

NEVER spend more than 10% of any windfall profits , gifts or prize money…
Re-invest 90% in Bonds and Unit Trusts and live on that Income only …
The 90% remains permanently Invested …

Assume you win 10 Million …
Utilize 1 million for clearing all Debts and gifting.
9 Million goes to Bonds and Unit Trusts.
Only income from those investments can be spent or further invested.

You think the Income from Kshs. 9 Million Worth of Investment Portfolio will be Enough… Wacha Mchezo… That Advice ni ya Watu Wako na 50 Mil Kwenda Mbele.

Nunua plot imejengwa if you don’t have the patience to build your own especially if you are impulsive. That way even if you blow the principle amount utabaki na kakitu kidogo that will bring in a few coins at the end of the month

Ukiwa na poor man mindset ata pesa ngapi haiwezi kuokoa…akili ni kitu ya maana sana Kwa I dunia

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Warren Buffett is 93 years old and is worth USD: 124 Billion in 2022. He is a philanthropist and among the top 3 Investors on this planet.

He started his own business venture as a paperboy at 13 and he also sold horse racing tip sheets. He formed his own company as an adult and began investing in companies he believed were undervalued , earning profits. He reinvested those profits in more investments and his wealth continued to grow.

Buffett maintains this attitude in other areas of his life.
He lives in a modest 5 bedroom house , he doesn’t collect cars , buy fancy things and he doesn’t take a limousine to work.
Upon his demise , 99% of his wealth will go to philanthropy and Charities in developing nations around the world.
The value-investing style is not without its critics but the proof is in the pudding regardless of whether you admire Buffett or you don’t.