What I will do if I Win 30.000 Euros in the lottery
Background
I’ve been in Thailand for a while, and if you’ve been there, you can see people everywhere trying to sell you lottery tickets. Inspired by two famous Italian YouTubers who did a similar exercise, I decided to play with my imagination and think about what I would do if I won 30.000 euros.
To make it interesting, I repeated the exercise for different amounts, giving myself 3 minutes and 30 seconds to decide what to do if I won 30.000 euros, 300.000 euros, and 3.000.000 euros. I thought this could be inspiring for other people as well. I wrote 3 different articles for the 3 different amounts.
Context
I’m a designer, digital nomad, and I’m Italian. I won’t go into my specific financial situation, but I will consider a generic one based on the average wealth of an Italian 29-year-old. According to the European Central Bank, an Italian in the middle class at my age should have a wealth of around 7.500 euros, up to 19.000 euros if we consider the average between poor-middle and rich.
So, winning 30.000 euros would significantly increase my net wealth. You can check the data I’m referring to those data.
Why do this exercise?
Because you might realize that you don’t need to win the lottery to do what you want to do. This is the magic of this experiment. You will find out that you may not need to win the lottery to achieve things that you think require a lot of money.
I also found out that my asset allocation, in percentage, remains the same regardless of whether I win 30.000 euros, 300.000 euros, or 3.000.000 euros. This says a lot about me, my attitude, and my money management.
What I will do with 30.000 Euros?
Puff! My bank account suddenly has 30.000 euros more than expected.
1. 1.000 euros (3,33%) — Gifts
I will spend this money to make a gift for my partner. She enjoys her sport, so I’ll buy her some equipment. Some might think I’m writing this to look nice, but it’s only 3% of my prize. (Spoiler: I asked my girlfriend to do the same test, and she allocated less budget to this section than I did. Should I break up?)
2. 1.000 euros (3,33%) — Donation
Charity donation. I believe that 10% of what I earn should go to charity, though I don’t know where this belief comes from. Apparently, I’m more selfish than I thought, as I’m only allocating 3.33% in this scenario.
3. 4.300 euros (14,33%) — Travel
This is an easy choice. As a digital nomad, I visit amazing places, but I’m limited to places with good internet and a work-friendly environment. I’d like to travel to more remote areas without my laptop, with Patagonia and South America being my first destinations. What’s yours?
4. 4.000 euros (13,33%) — Education
I’d probably use 1,000 to 2,000 euros for an online degree in Philosophy. The rest would go to high-level professional courses to improve my job skills, possibly with some private tutoring. This is both a career investment and a personal pleasure.
5. 1.000 euros (3,33%) — 1 Month of My Life
I’d take a break to finish one or two books I’ve been working on. I’d rent a house in the countryside and focus on polishing my books.
6. 700 euros (2,33%) — Gifts for Family and Friends
I wanted to buy an Apple Mini for my parents, but they recently bought a new Windows PC. So, I’ll probably use this budget for gifts for them, my friends, or my girlfriend.
7. 18.000 euros (60%) — Investment
I’d invest everything in ETFs, maybe keeping 1.000 euros (5%) for crypto investments. I won’t go into the details of which ETFs, but as many Reddit users say: VWCE and chill. This conservative approach means 18.000 euros won’t change my life, but it’s better to invest them.
That’s all; my pie chart is full. There’s an interesting study about how playing the lottery is a terrible investment, but buying one ticket in your life is a great investment because it lets you play with your imagination and think outside the box of your financial capabilities.
What about winning more?
Do you want to read what I will do with 300.000 euros? Upvote this article.
And with 3 Millions? Upvote this article.
I invite you to do the same “game” with 3 different amounts based on your asset allocation, income, and life. If you don’t know where to start, I suggest 1x your yearly salary, 10x, and 100x. Set a timer for 3 or 4 minutes for each amount and start. I call this the 3x3 game.
Support and Recommendations
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For Investment
If you don’t know where to start investing, this article is not financial advice, but I recommend the TradeRepublic platform. As a designer, I find the usability excellent, and the product is of high quality with German standards. They also provide a great credit card now.
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Online Banking
I personally use Revolut. I’m a premium user because I travel a lot. The free version is amazing, and I’ve already referred it to my friends and family. I have three other bank accounts, and they don’t even come close to the quality of Revolut.
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Trade Republic and Revolut both offer possibilities for investing in cryptocurrencies, stocks, and more.
Donation
If you win the lottery after reading my article, you can tip me here.
Or you can donate Bitcoin:
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Lighting:
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Enjoy your Patagonia trip!
One love.