A lucky bettor won the largest lotto jackpot prize in Philippines history. Here’s my 7 unsolicited advice to the winner:

1. Keep it Secret

There’s a reason why PCSO’s policy is to keep the winner’s identity a secret. Kidnapping is a thriving industry in the Philippines, so under no circumstances must you broadcast your win. Do not shout at the top of your lungs that you’ve won at the whole barangay. Keep it to yourself. Don’t emulate a lottery winner who yelled to his boss, “I’m out of here.”

2. Hire a lawyer, accountant and banker with impeccable credentials

The lawyer, accountant and banker must not be the same person. The reason for getting a good advice is to balance out whatever primitive impulse you might have, to keep you grounded on reality. Form this team, even before you get your winnings.

Once a family member finds out that you have money, relatives will come knocking at your door introducing far-fetch ideas. Some relatives and friends will even sue you for not giving them a share of the pie. Your legal and financial adviser will protect your from mismanaging your millions, they will warn you of every get rich quick scam investments.

3. Keep a Low Profile

If you want to keep your millions, you must avoid buying status objects. In the book The Millionaire Next Door, the authors exposed that many people who earn high incomes are not rich.

The reason for this is what I call the never-ending-luxury also known as keeping up with the neighbors. Buying expensive imported vehicles will constantly make you need to buy the newest model. Living in a status neighborhood will cultivate in you a need to keep buying status objects to keep up with your neighbors.

What’s more, relatives and friends upon seeing your luxury items will come marching in through your doorstep, requesting for, you guess it, your money.

If you think that lottery money is infinite, think again. Many lottery winners lost their winnings. Living a high status lifestyle will deplete your winnings.

4. Don’t try to solve your Personal Problems with Money

If there’s anything you can count on, it is the fact that being rich will bring in more personal problems. Some lottery winners who are unaccustomed to money, or don’t know how to handle it, will often keep the money but lose family and friends. Some keep the family and friends but lose the money. The worst possible scenario is that you will lose the money and also lose family and friends.

“Can’t buy me love,” sang the Beatles. This truth has persisted since the dawn of civilization.

Witness the recent news of lovers who became bitter enemies because of money. An emotionally stable person will be able to handle the incoming financial windfall.

5. Don’t Spoil your Family Members

This is doubly problematic, because we live in a country, where some deemed it fit to equate a Filipina marrying a caucasian male as some sort of semi-jackpot, prompting some relatives to line up to her door.

Imagine the situation, if you yourself win the lottery. Compared to the lottery aftermath, feeding the entire barangay during a wedding would look like a walk in the park. Many long-lost relatives will out of nowhere show up.

Learn from the biggest lottery winner in U.S history who because of his lottery winning prompted his grandaughter’s death.

6. Don’t be evil

I do not agree with the moniker that money is the root of all evil. However, I do know that too much money too soon has historically corrupted many.

In recent times we have seen Enron rose to become the seventh largest corporation in America with what was essentially a Ponzi scam. The US subprime suffered a real estate meltdown that prompted a near-recession of their country, pulled down the value of US dollar and closed some banks, all because some predatory lenders became unscrupulous. And what of the Philippines online investment scheme which turned out to be another Ponzi scam.

7. Do something you love doing

I find people whose only aspiration in life is to have money, to be infinitely boring. Build, help, create.

Conclusion

Personally, I don’t buy lottery tickets. Gambling in my view is a recreation, not a source of income. But hey, if you won, good for you. Whether you’re an aspiring president, a person who recently received a large sum of money, or someone who earns some income from a regular resource, I do hope that we all have a better future.