The lottery will make you poor
I love investing and I also love teaching investing to people, from stocks, bonds or anything about personal finance! It’s just a fullfilling feeling to see lives of people change, moving them from consumer to investor. That’s why it breaks my hear whenever I see people fall in line everyday for the lottery. It’s sad that everytime that the 15th and 30th of the month would surface a lot of people would flock to the lottery outlets and buy a ticket for a chance to get rich.
I’m here to tell you that’s not the right way to get rich! There are better ways to gain wealth and to make your money work hard for you. For this “Fast Five” post, here the Fast Five Reasons Why You Should Not Join the Lottery! It’s time to be smart with your money and move onwards to financial freedom!
Catch me in my live training events! (quick plug)
The heart of why I do this seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more on how you could time the market checkout the trainings below.
Stock Smarts Davao — October 20 – October 22, 2017
Stock Smarts Malaysia — November 4 – November 5, 2017
Stock Smarts Sydney, Australia — November 11 – November 12, 2017
Stock Smarts Qatar — November 16 – November 19, 2017
Stock Smarts Singapore — November 25 – November 26, 2017
Stock Smarts Manila — December 2, 3, 9, 10 & 16 , 2017
Stock Smarts Taiwan — December 21 – December 22, 2017
Stock Smarts Cagayan De Oro — January 13 – January 14, 2018
Stock Smarts London, United Kingdom — January 26 – 28, 2018
Your chances to win the lottery are very very very very very slim. Let me push this example further, for a 6 number lottery draw with a set of integers between 1 and 49 the chances to win are 1 in 14 Million! I’d rather put my money stocks that earns dividends, for sure I’d get a return every year.
Most of the lottery winners become broke 5 years after winning the lottery. Please take note that if the lottery winner was living a normal life before, winning the lottery even drove that person deeper into the rabbit hole. Money is lost quickly when it comes without the person having the right mindset to handle it.
True wealth is not about get rich quick but rather, steady plodding and making your money grow not just now but for years to come. Money grows when you know what to do with it.
The lottery is similar to the casino, the house always wins. You will end up spending more that what you will ever win.
5. When you look at the world’s richest, majority if not all of them grew their wealth (or at least their parents or grandparents) from the ground up. Some started businesses, some invested, some just really were at the right place at the right time. Majority of wealth can be made when you create something and not by wishing that you win the lottery.