Have you noticed how many individuals buy lottery tickets or play at a local casino? The idea of fast wealth is always behind them because they make another move on the slot machine, scratch a lottery ticket, or appear to have their number chosen by the numbered numbered balls.
So is this the perfect way to collect wealth? Yes, that is if you happen to be the casino owner. Gambling is an industry that grows at an unprecedented rate. Each state with the exception of two has some form of legalized gambling. Casinos are available on river boats, Indian reservations and mountain ranges. Games are available in many forms. The FBI estimates that over $ 2.5 billion will be invested in the NCAA tournament every year.
Local news is always eager to publish when someone wins the big amounts accumulated in Powerball, Lotto. So far, the highest jackpot ever won by an individual was a staggering $ 390 million. Invest a dollar and get an incredible return in excess one quarter billion dollars. Yes, there are billions of a B. Can you imagine the excitement that the person must have known?
This article is not intended to remove the imagination to go from rags to wealth, literally overnight. We have all dreams and enjoy thinking about how well it would be to change our economic lives forever, albeit only. How fun must it be for the actual winners? However, it is intended to reveal a problem that exists when it comes to collecting wealth.
The statistics associated with winning one of these jackpots of the life exchanges are the information that led to this article. National Weather Service says that a person will die for every 345,000 lightning cuts. The chance that you win Powerball in a particular drawing is slightly higher than 1 in 120 million. That means you are 347 times more likely to be killed by flash than winning Powerball. As ridiculous as this sounds, are you planning to be killed by the flash? So, with this statistic in mind, why are so many people willing to throw away their hard-earned money?
We as a society have become so impatient. We want and expect to get everything now. Based on this approach, credit card companies spend millions of dollars a month to convince us to sign up for one of their high-interest credit cards. Once we receive these cards, we feel empowered to go out and make purchases that we really can not afford. In fact, many people spend their retirement before ever receiving it. Consumer debt is at a high time. We despise our future for some frivolous pleasures today!
The solution - Accumulating wealth or saving for retirement is not something that anyone can give up to and it is really no process based on playing a game or playing. A sound economic plan requires a commitment to success. Perseverance and education are needed to identify investments that protect the principal and achieve high returns. Successful individuals realize that it is best to concentrate their efforts on the work they feel best. In view of this, they understand how it is more productive to engage with a professional planner who works on behalf of the investor. A good professional planner is one that recommends investments in the best interests of the customer. not the planner.
Investing and creating prosperity should begin as early as possible. A few dollars are saved or invested each month, starting at the age of twenty, having a much deeper effect than starting at age forty or fifty. The global markets today make investments more challenging, but they can also be extremely lucrative. It is ok to ask for help with your planning. This is an important aspect of your financial well-being.
In conclusion, gambling is a form of entertainment and nothing more. It should not be regarded as anything but going on movies, dinner or camping. Certainly nobody should rely on winning a big jackpot to take care of all their financial needs. Remember, you are 347 times more likely to be killed by lighting than winning Powerball, Lotto.