Lvl 158: Is the Lottery a Lazy Way to Get Rich?
What if you won the lottery? Yeah. BIG what IF... The chances are are low. But what if you did so happen to actually win that goddamn mega million jackpot, huh? What would you do with all that cash? Now, if your answer is something along the lines of "pay off this" or "invest in that", I'm guessing you're not really one to purchase lottery tickets in the first place, which is good. On the other hand, if the first thing that comes to mind when asked that question is some type of car or house at a certain beach or city or some other THING, I'm guessing you haven't purchased just one lottery ticket in the past. Look, I'm gonna be straight with you, lottery tickets aren't worth it, man. They exploit the poor and middle class, with a false hope of making it rich. It's kind of a tax if you think about, because all that money goes directly to the government. And believe me, they make BILLIONS (with a B) off lottery ticket sales. The prizes they give out are just a fraction of what they're earning in revenue. Speaking of fractions. Do you the chance of winning a typical 6 number draw lottery? Do you know the fraction. 1 in 10,000? 1 in 700,000? Try 1 in 14 million. Yeah, you have an equal chance to save the universe from Thanos. What's crazy is that MOST lottery winners wind up broke and on the streets in as little as a few months. And when I say most I'm not just talking 51% or a low margin majority like that. I'm talking 70%! Yeah, 70% of the mofos who win the lottery splurge every last goddamn cent they won. It's better to put your money elsewhere, somewhere, I don't know, actually profitable! I know, it's tempting to believe in the fantasy of unicorns and rainbows and winning hundreds of millions of dollars over night, but the reality is, that's just not gonna happen. Statistically speaking of course. To be fair, winning the lottery seems like one of the LAZIEST ways to get rich. And for all intents and purposes, I'd say buying a cheap little piece of paper that makes you a multi-millionaire is most certainly a low effort way to earn a fat stack. Thing is though, you're likely just throwing that money away. And money is always better off earning you more money than being spent. When you buy a lottery ticket, you are SPENDING money. You can kiss those dollar bills goodbye, because you won't be seeing it, yet alone the millions you HOPE to obtain through your purchase. Take it slow, like a sloth. Invest in things like the stock market or even crypto to build your welath at a steady rate. Sure, it'd be nice an all to get rich quick, but the odds are stacked hard against you, and like I said, you're likely just wasting money rather than investing it to earn fortune. The money you spend on the lottery could be put into an investment account and despite how little you'd earn compared to the multi million jackpot, it's still something. You'll probably (as in it is very, very extremely probable) get absolute NOTHING from the purchase of your lottery ticket; whereas with an investment, even a small margin profit is still MORE money than you initially put in. Anyway, there's a better chance you'll find something of value in this podcast than winning the lottery so go ahead and listen! Read the Full Blog: http://www.procrastin8r.com/blog/lottery Subscribe to the Newsletter: http://www.procrastin8r.com/subscribe