08 February 2016

What is it with Chinese New Year?

What is it about Chinese New Year that I will most certainly lose my inhibitions and gladly pass my hard earned money through a window to a stranger in return for a piece of paper with a couple of numbers on it?

We know when such things happen, it's called a fool's transaction. Indeed it is. It's a disease. It's called Toto. But I can't help it. I have to do it. Hard to say no to the potential of a few million $$$.

Years ago in an office far far away, my boss told me, "If you guys are buying, count me in. I don't want to come back to an office to find that everybody's won the first prize and I'm the only person left working when that happens!"

Toto has evolved over the years. I have a funny feeling I might have thrown away a winning ticket or two in recent years. Seems like 3 numbers is all that's required to win a prize ($10). I used to think we needed 4. I'm out of touch.

The Rules to Toto are available online. It's not long. But it's complicated enough. They even facilitate by having Group Toto. How about that? Clean out the whole office. Naw. The more people that pool together, the less per share. They'll continue working. But maybe they'll be taking more leave for that dream holiday?

The latest draw on Lunar New Year (today!) is estimated at $4 million. And the upcoming annual Hong Bao Draw is Worth $12 million. Attractive right? Rare it is for a single winner. Chances are, there will be several millionaires.

I wonder what happened to all those overnight millionaires? Did they live a meaningful life of contentment and fulfillment? Or did the sudden rich became quickly poor?

Anyways, I couldn't help but dream of what to do if I hit a million or two. Would I 'retire' from work? A million, maybe. Two millions, most certainly. What does $2 million get me? About $100,000 of perpetual income per annum by my estimate.

And how do I achieve that? Perhaps:
- $750,000 in bonds or perpetual bonds (from Bondsupermart.com) @ 4-6%
- $1,000,000 in shares @ 3-4% dividends and 4-6% growth potential
- $200,000 as cash reserves for 2 years' income
- $50,000 to pay off outstanding liabilities

How about you?

p/s: Toto tickets ain't free! There's an opportunity cost involved.

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Createwealth8888 said...

I am regular ToTo punter. Whenever ToTo reaches $4m and above, we will do Group ToTo with few other colleagues. Guess what happen when our Group ToTo strikes JackPot! :-)

Lizardo said...

Mass happiness! Never happened yet I suppose?

starlight said...

"got buy got hope", "don't buy no hope".
It is merely buying a faint hope.

Anonymous said...

Money is say to be 70% of the problem, so got it may solve 70% of your problem. So leave you enough time to take care of the 30% nono monetary problem. Have you ever heard even those super rich commit suicide too.

Lizardo said...

Hi starlight,

Hope comes at a price unfortunately! But as you've said, have to buy to have any "hope"! *heh*

Lizardo said...


The super rich tend to overdose instead? Too much money without the right character to back up can be a problem.