The Singapore lottery is a fun way to play your chances of winning big money. With a minimum bet of $1, you can win cash prizes in Singapore Pools’ Toto or 4D games.
Winning the Singapore lottery can be a life-changing experience. But there are some things you should know before you get started.
Firstly, it’s important to seek professional advice. A good financial adviser will look at your windfall objectively and make sure you plan for it well. They can also recommend ways to reduce your risk of losing the sum.
Avoid lifestyle inflation
When you’re suddenly rich, you might be tempted to indulge in your vices more than usual. This can be a serious problem, especially if you’re already prone to addictions like smoking and drinking.
Your financial advisor will be able to help you determine what the right course of action is, and will take into account your existing debts and other expenses. They might even suggest ways to save your money before you spend it.
Consider putting the money towards a short-term endowment plan instead. This will help you protect your capital from the rising cost of living and provide a guaranteed income if you ever need to leave your job for whatever reason.
Be careful with friends and family
A woman from Singapore shared a Facebook post last year detailing how she had won over RM640,000. Her friend helped her buy the winning ticket but then disappeared, cutting off communication. She tried to contact the police to resolve the matter but was unsuccessful.