Whatever country you live in, the national lottery is big business. On hundred and sixteen countries worldwide have a recognized national lottery. Seventy percent of UK adults, that’s more than 32 000 000 people, play the lottery on a regular basis and it’s estimated about 90 000 000 people are active/regular lottery players in the US*. Why do so many people buy a lottery ticket? Because it’s a chance to live your ideal life and be richer than your wildest dreams. The key word here being, ‘chance’.
So, why should you stop buying a lottery ticket?
Firstly, your chances of winning are slim. How slim?
The odds of winning Americas Powerball are one in 292,201,338 and the odds of winning the jackpot in Mega Millions is one in 302,575,350*. To put this into perspective, you have a 1 in 3 000 chance of being struck by lightning, one in 88 000 chance of dating a supermodel and one in just 583 chance of dying in a car crash*
It’s a lazy aspiration
For me personally, I would say in my head quietly to myself, ‘My plan is to stick it out in my job and hopefully make enough money to retire comfortably one day and I’m going to buy a lottery ticket to try get rich and retire early’. I was simply lying to myself. If your plan on being rich is to win the lottery, you are making a terrible and extremely lazy plan.
I came to realize eventually, that if I wanted to actually change something and have a plan to become wealthy and successful, then the lottery was simply a waste of time. If you want to be rich beyond your wildest dreams, start taking drastic and immediate action to put you on the path to getting there, because hoping to win the lottery is madness. The first step in making a change is setting a goal to do it. That’s one of the reasons why goals are important.
It’s not happily ever after for a lot of lottery winners
There are multiple instances of real life horror stories. In 2005, Jeffrey Dampier from Illinois, USA, won $20 000 000 and was eventually shot in the head and robbed by his sister in law. Ronnie Music Jr won $3 000 000 and decided to invest it in a crystal meth drug ring, which eventually lead to his imprisonment and pending life sentence and 19 year old Michael Caroll from the UK won the $14 000 000 jackpot before blowing it on lavish items. He now unemployed, living with his mother and collects $300 a week from his position at a cookie factory*. Buying a lottery ticket can sometimes turn into a ticket to a nightmare.
If you win, you might not understand how to handle your money
I believe that a trend in all of the above mentioned people, is that they did not developed their ‘financial thermostat’. What I mean by this is, they did not have an education or understanding on money. Rather than hire an accountant and invest it in stocks, bonds, dividends, real estate and business (assets) they blew it on cars, boats and expensive jewellery (liabilities). They reached the level many of us aspire to reach when we have created a successful empire. However, by reaching that level without any effort you don’t acquire the tools to be able to stay and adapt to that level.
It’s like going from level 1 on a PlayStation game, all the way to completing it, instantly
Isn’t the real fun in the journey? The satisfying thing about playing a video game is advancing through levels, unlocking items, completing quests and defeating the challenges in the game. Once you completed it you feel accomplished. If you were to jump straight to the last level and unlock everything instantly, it would be fun for a bit, but wouldn’t you get bored pretty fast with already having everything unlocked and completed?
What is fulfilling is building your own success to eventually become wealthy. By doing this, you teach yourself lessons about money on how to invest and spend it. This means when you amass large amount of money, you have the financial experience to use it wisely and of course, there is a far greater sense of fulfillment.
Invest your money to stand a far better chance of becoming (and staying) wealthy
Lottery ticket or shares in a new upstart business?[/caption]Instead of buying a lottery ticket for $2 or $10 every week, take that money and put it to work. Learn how the stock market works and begin to invest in upstart organisations in booming fields. Put your money into fixed income assets like government and corporate bonds, team up with others and buy an investment property or jump on the next Bitcoin crase. If you think this sounds hard, it probably will be. But I can assure you, the chances of you becoming successful with these investments, even if you have the brain of a 10 year old, it still extremely more likely than winning the jackpot.
Winning the lottery is for the future, not the NOW
The majority of us will spend our whole lives just waiting to win the jackpot. Winning the lottery is a dream of the future and neglects us from living in the now. If we look at our life and are unsatisfied, make a goal on how to change it now, not a pipe dream to win the lottery and make everything better. Living in your future dream of being a lottery millionaire robs you of making decisions and plans now, to immediately affect your future. Poor people dream, Rich people have that dream, then take action to make it a reality.
If you buy the odd lottery ticket for a big jackpot, for a bit of fun, then no problem. But if you religiously buy a ticket every week hoping to be the one in 302,575,350, then I believe you should reconsider. Yes, someone has to win it (this was also once my mindset) but you will likely spend your whole life waiting to be rich. Take action now and start education yourself on more realistic ways to make money.
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Do you still buy a lottery ticket? Did this article change your mind? Let me know in the comments below!