What will you do if you win the 40M-Peso Megalotto Jackpot?

Just recently, a news broke out that a sole winner took home the P44.075M Megalotto jackpot. How I wish that was me, the thing is, I don’t bet (maybe I should start now :D ). And if in case that was me (or you), have you start to wonder how you will be spending it?

14M Peso Lotto Jackpot spent in Three (3) Months

Let us recall an interesting story aired by GMA News TV sometime March 2012. This is about a lotto jackpot winner who won P14M and have lavishly spent everything in just three months. Let’s watch his story:

Read the full story Dionie Reyes here.

Dionie Reyes has shared this story to be a lesson to everyone.

Emphasis on Financial Literacy

We all have our dream house, dream cars, and dream vacations that we keep working hard on to achieve. Given the right opportunity, we’ll grab them. And if there are shortcuts, we’ll take them. That’s human nature – we love to gratify ourselves the soonest possible time.

However, financial literacy is not innate to us. We were not born and knew everything about savings and investments. These were thought to us by people who are more experienced than us. And we call those very first two people who teaches us and who we trusted listening to, as our parents.

And as we go on life, we experience our own and learn our ways in better managing our money, our hard-earned money. We make mistakes, have financial breakdowns, but eventually (and hopefully), reaches to a turning point where we transform into a being seeking for more education to properly manage our finances – and usually, at that point, we we’ll no longer be doing it just for ourselves, but for the people who matter most to us.

Dionie Reyes should be given credit for sharing his experience. Although people hearing this story felt remorse and regret for Dionie, a good question (or thought) has been raised to everyone knowing this story – that is “If I won the jackpot, I won’t do that” or “What will I do if I won instead?”.

This thought, if taken seriously, is a catalyst to pursuing to learning more on how to properly manage one’s finances.

What will you do if you won the Jackpot?

I asked this question in our Facebook Page and received few interesting response. Here they are:

From Aiza Del Rosario
(4,000,000.00) tithe
(10,000,000.00) house and lot,car
(1,200,000.00) emergency fund
(4,000,000.00) give my family
(4,000,000.00) business
(16,800,000.00) invest in stocks/mutual funds

From Jamil Buergo
Almost same as Aiza’s.. I’ll just tweak it by removing 4M for business and less 5M for house/car and putting the total 9M into life insurance, bonds, and stocks. Also, instead of giving the 4M cash directly to family, i’d rather get them life insurance (endowment and protection) under their names so they wont easily spend that big amount of cash.

From Norman Ocampo
i will INVEST more in the stock market/ mutual funds, franchising or buying T- BILLS, Insurance for me, Modest house and lot but with all the amenities of modern living, a small FARM where i will plant HIGH VALUE crops like Mangoes, fast growing trees, mushroom and raising chickens and hogs

Personal Reflections

And of course, just like any other decisions in life, people will differ on response based priorities (consciously and/or unconsciously).

A parent, having a young son/daughter, will think of having a house for the family, or an educational plan for the children. A businessman will think of adding it to the capital of the business to further boost the business. And an investor, will think of using the money to further make investments more profitable.

And in some cases, out of childhood poverty, a person may think to splurge the money to finally experience the good things that life has to offer. And honestly, the other part of my brain does tell me I’m no different.


We all have our priorities that makes our circumstances very unique. What is good to me, might not be good to you.

However, looking in the general perspective of our financial decisions, there is possible only three major life priorities – growth, security, and comfort.

Growth - when one prioritizes growth, he/she can be aggressive, which sometimes lead to the willingness of taking much risk sacrificing security. And if this kind of person wins the lottery, he might be putting up a business, making lots of investments, etc…

Security – this kind of person prioritizes eliminating financial uncertainties in life. What this person will do from his winnings is to probably buy life insurance, educational plans, medical insurance, etc..

Comfort – when one prioritizes in comfort, he may have spent all 40M in three months.

The key here is balancing each priority to whichever have greater weight over the other. And if in case you really did won the lottery jackpot and if you really don’t know what to do, for your own sake, hire a financial planner whom you can trust.

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