It's OVER... and, if you are reading this, I am pretty sure you were NOT the winner.
The biggest ($758.7 MILLION!) Jackpot in the history of the Powerball Lottery in the U.S. was won by someone in some small-ish town outside of Boston, Massachusetts.
Which means that that person beat the same odds as getting bitten by a shark while at the same time getting struck by lightning! :-0
(Cartoon courtesy of Phil @ http://shaaark.com )
Have you ever felt the pull of "playing" the lottery?
I know I have. It's easy to get sucked into the rush of emotions that happen when we consider "What If..."
But I stopped all of that a number of years ago when I recognized that basing your chance at future financial freedom on "hope" versus taking even small steps of action is a more "sure bet".
Let's look at the odds of spending $3.00 in two different scenarios:
Odds of winning this Jackpot in PowerBall (1 set of numbers): 1 in 292.2 million
(Envision the 324 million U.S. residents. Your chance of winning is roughly comparable to being that one lucky person out of the entire population, with everyone else losing - which of course they DO).
Odds of Investing that same $3.00 and having that be worth $5.50 in a year: 1 in 1.000007
(In other words, about as close to a sure bet as you can get)
Now, I know that $5.50 is not as exciting as $758.7 Million... :-)
BUT, as it is highly unlikely that you would actually WIN the $758.7 Million, which is the better strategy in the long run?
And consider if you add up all the money that people (on average) spend on the Lottery in a year. (Massachusetts residents, for instance, spend a whopping $735 annually on lottery tickets).
That same $735.00 could be worth $1,746.00 after a year if invested instead.
(And with compounding and other reinvestment strategies, it can be worth even more).
So, I no longer "play the lottery". Ever since I realized how you can build an investment "snowball", I have taken the little bits of money that I would have wasted and put them to work for me.
For instance, I have recently been working a strategy that took a small investment of $200 that will start generating $500 per month in less than a year.
And I am doing a FREE webinar August 30th at 3:00 pm EDT, U.S., to show you the specific strategies so that you can do the same (or even more).
>>> Click here to grab your spot for the FREE Webinar
I look forward to seeing you there!
...or at least, you will start to play in a game that has much better odds. :-)
As always,
StayOnTheRise and be blessed!
JT
Upvote and resteemed
What did you think of the Lottery vs. Investment approach?
Lottery.... is just stupid luck... and it maybe never touch you. From here to gambling is just a step and to lose all another small step. Investments on other hand doesn't fit for all... you need a good strategy to make money and the majority of people are stupid. Good for as because if investing would be so simple and just for all as the lottery we would never get rich.
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