A vacation, a lakefront cottage, an early retirement, or all three — how would you spend $70 million?
That’s what many Manitobans are thinking with Tuesday’s record-breaking $70 million Lotto Max.
The record-breaking jackpot didn’t go on Friday, so it’s up for grabs again Tuesday – with 25 additional chances to win $1 million.
Food Fare store owner Munther Zeid said Friday tickets have been flying off the counters.
“Almost everyone is buying tickets for this draw,” said Zeid.
“I’m even buying tickets for the draw.
“There’s even customers coming in buying for four, five, or 10 people. It seems the higher the number, the more people want to buy. When it’s $10 million, people aren’t too interested, but when its 40, 50, and up, you get some really good sales.”
But will $70 million actually make a difference in your life?
“That’s what Malcolm Gladwell says in his book The Tipping Point, that after $70,000 a year your happiness doesn’t increase with income,” said Carolyn Klassen with Conexus Counselling.
“And after $140,000 your happiness level starts to go down.”
Other experts say it’s important to manage your expectations.
- Canada’s bank deposit insurance limits being reviewed after SVB collapse, trade group says
- First home savings account: Banks say they’re not ready for an April 1 launch
- BlackBerry selling non-core patents in a deal worth up to $900M
- U.S. banking system stabilizing, situation ‘very different’ from 2008 crisis: Yellen
“As much as it’s nice to dream about that money, if you’re really hoping you’re going to win, there’s a reason,” said Sandra Fry with the Credit Counselling Society.
“So what’s the underlying cause for those hopes? Are you hoping that it’s going to save you from some debt that’s looming, or help you retire? And if that’s not going to happen, if you’re not going to win that money, then you need to look at other ways you can do that.
“How can you meet those financial goals without this windfall?”
But for some Winnipeggers, winning that amount of money means there’s more to go around.
“With that much money, I’ve got a bunch of kids, they’d all get a million each and have to wait for the rest,” said Clint O’Dell.