Won TOTO 390K, 6 mths later all spent finish

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Won TOTO 390K, 6 mths later all spent finish

Post by pinkygirl on 3rd January 2016, 4:39 am

He went from jobless to a winner to a weeper - in six months.

He was down when he was retrenched, soared when he won almost $390,000 in the Toto lottery, and is now down again with less than $200 left in his bank account.

Has the curse of the lottery windfall found another victim in Mr Chew?

For an unusually high number of lottery winners around the world, quick money has not brought them sudden happiness.

Mr Chew was in the dumps when he was retrenched from his job as a warehouse supervisor last November, after 10 years on the job.

He was earning $3,000 a month, and received $34,000 on retrenchment.

Barely a month later, Lady Luck smiled on him - he struck big, scoring with an own entry 'system roll' Toto bet.

His winnings: $383,945.

Now, fast forward barely six months later and he is almost broke.

How did he blow it all so quickly?

He was ecstatic when he first hit the jackpot. He doled out large chunks of cash of up to $100,000 to his family and relatives.

Another big-ticket item was a five-day family vacation to Thailand in January. This set him back by about $10,000.

Another $120,000 was lavished on items such as expensive meals at posh restaurants for his family and friends, and pricey exotic health products such as bird's nest.

Then there was greed: Extravagant, perhaps reckless bets on horse racing and soccer.

Perhaps the only wise move he made was to pay off the $78,000 mortgage on his four-room Housing Board flat in Choa Chu Kang.

While Mr Chew isn't exactly a pauper now, he had 'about $200 or less' in his bank account at the end of last month.

He now does some part-time work in a transportation company, which will earn him up to $1,000 a month, but is on the lookout for a full-time job.

He falls back financially on his wife, 50, a part-time sales person who has some savings. And he hopes to get back a $50,000 debt that he claims to have lent a friend.

His friend, however, disputes this.

Mr Chew and his wife have two daughters - an undergraduate, 25, who lives on her own, and a clerk, 23, who lives with them.

His wife, he said, is angry with him for lending the friend the money.

Does he feel he was too quick to hand out the dough in general?

Mr Chew rationalised in Mandarin: 'Money comes easy and goes easy.'

Was he reckless, especially in gambling on horses and soccer? He insisted: 'I don't think I spent my money carelessly.

'I spent it on my family, so I don't regret that. I also paid up my flat, so now I wouldn't have to worry about that too. It's money well-spent.'

Now he's hitting the lean streets again.

He takes pains to avoid taking taxis during peak hours and eats at coffee shops instead of at restaurants.

He also has no plans to go on holidays anytime soon because, as he put it, 'money is not enough' now.

Mr Chew said: 'When you have money, spending $1,000 or $2,000 seems like a small matter. Now I have to be more careful when I spend.'

He is still grateful to have experienced the good times even though it was for only a few months.

If lightning strikes again, if he is lucky enough to enjoy another windfall, would he do things differently?

Yes, he would, he said.

But then, he would also entrust a large portion of the winnings from Lady Luck to the other woman in his life - his wife - for safekeeping.

He said: 'I will spend my money more carefully if I win again and I will not trust people so easily again.'

This article was first published in The New Paper on June 22, 2008.

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Re: Won TOTO 390K, 6 mths later all spent finish

Post by pinkygirl on 3rd January 2016, 4:41 am

WTF ?

Take pains to avoid taxi

Eat at coffeeshop instead of restaurant

Come on lah cibai kia, before you win you are a pauper. Limpeh ask you do you take taxi and eat at restaurant that time ?

Take pains to avoid taxi.. really cibai sia.. Talk as if no taxi will die

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Re: Won TOTO 390K, 6 mths later all spent finish

Post by beano on 3rd January 2016, 4:43 am

He could have been 700k richer if he went to the casino..
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Re: Won TOTO 390K, 6 mths later all spent finish

Post by pinkygirl on 3rd January 2016, 4:45 am

beano wrote:He could have been 700k richer if he went to the casino..

Dun cock lah

if you win or your parents win, will you do that ?

when you lose, you will be super angry

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Re: Won TOTO 390K, 6 mths later all spent finish

Post by insatiable_creat on 3rd January 2016, 5:03 am

Damn stupid....... But 2008 article leh....
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Re: Won TOTO 390K, 6 mths later all spent finish

Post by Nevereatrice. on 3rd January 2016, 5:18 am

390k leh he thought is 3.9m Laughing
Very fast finish one 390k

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Re: Won TOTO 390K, 6 mths later all spent finish

Post by Dalai Llama on 3rd January 2016, 5:25 am

Dumbass.
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Re: Won TOTO 390K, 6 mths later all spent finish

Post by madscience on 3rd January 2016, 5:25 am

this guy understands yolo better than anyone else.

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Re: Won TOTO 390K, 6 mths later all spent finish

Post by Sofero on 3rd January 2016, 6:47 am

The worse thing one can do with lottery money is to splurge it.
Easy come easy go.
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Re: Won TOTO 390K, 6 mths later all spent finish

Post by Guest on 3rd January 2016, 7:58 am

winning the lottery is not the solution to everyday problem. in fact, it gives more problems to the if he/she doesn't know how to properly allocate the resources well.

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Re: Won TOTO 390K, 6 mths later all spent finish

Post by midnightpapa on 3rd January 2016, 8:13 am

well, I cannot disagree with the vacation spend....

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Re: Won TOTO 390K, 6 mths later all spent finish

Post by pain on 3rd January 2016, 8:36 am

My friend's uncle used to live in bedok reservoir, also jobless before he won toto. after won toto, few months later he had to sell the house cos similar to the guy here, lent money, bought unnecessary items n gambled even heavier than previous
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Re: Won TOTO 390K, 6 mths later all spent finish

Post by stillgottheblues on 3rd January 2016, 9:49 am

Sinkies fault for being lazy. How many people get rich by winning Toto?

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Re: Won TOTO 390K, 6 mths later all spent finish

Post by DarkWizar on 3rd January 2016, 9:56 am

Many ppl deserve to be poor. Give them money but dunno how to handle it

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Re: Won TOTO 390K, 6 mths later all spent finish

Post by XianGe on 3rd January 2016, 9:58 am

390k in 2008 is not alot.. How cum he still wanna spend like water
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Re: Won TOTO 390K, 6 mths later all spent finish

Post by Gladiator on 3rd January 2016, 10:02 am

Sinkies win toto cannot keep quiet. Want face let people know they are "rich".

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Re: Won TOTO 390K, 6 mths later all spent finish

Post by mr_yang on 3rd January 2016, 10:03 am

wtf .....
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Re: Won TOTO 390K, 6 mths later all spent finish

Post by jinmuddy on 3rd January 2016, 10:15 am

Most folks here never had that 400k.

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Re: Won TOTO 390K, 6 mths later all spent finish

Post by Lilith_the_Hentai_king on 3rd January 2016, 10:23 am


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Re: Won TOTO 390K, 6 mths later all spent finish

Post by Swordsman on 3rd January 2016, 11:20 am

he stupid not to keep his mouth shut when he won the toto..

guess he close with his relatives and friends if he willing to give them so much money.

luckily i forever alone, don't have much friends. will treat makan to 5 friends.
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Re: Won TOTO 390K, 6 mths later all spent finish

Post by Swordsman on 3rd January 2016, 11:20 am

jinmuddy wrote:Most folks here never had that 400k.

5k also never win before. Evil or Very Mad
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Re: Won TOTO 390K, 6 mths later all spent finish

Post by Worcer on 3rd January 2016, 12:28 pm

XianGe wrote:390k in 2008 is not alot.. How cum he still wanna spend like water

If he were to invested the money after the lehmann brother crisis, he would be a millionaire now.
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Re: Won TOTO 390K, 6 mths later all spent finish

Post by mzd_1893 on 3rd January 2016, 12:30 pm

It;s like that one la

got money wil anyhow.. when u get ur AWS, u really put into bank meh? Of cos go NATAS or whatever and book that Taiwan trip u aiming for past 12 months
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Re: Won TOTO 390K, 6 mths later all spent finish

Post by Whisper on 3rd January 2016, 12:31 pm

That's why when I strike $3m toto 3 years ago, I didn't tell anyone. Now my bank still have $2.8m. Razz
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Re: Won TOTO 390K, 6 mths later all spent finish

Post by UncleGoldfish on 3rd January 2016, 12:40 pm

Wah, spend $200k in 3 years, can tahan another 40 years at current drawdown rate
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Re: Won TOTO 390K, 6 mths later all spent finish

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