Is the Lottery and Casino Your Retirement Plan?

  • Your Retirement Plan

The reason I am writing about this topic today is because I’m on a plane headed to Vegas to speak at a marketing seminar for Rory Fatt, owner of Royalty Rewards. The flight was overbooked, and they were asking for volunteers to give up seats. Nobody offered. I looked around at all the tourists anxiously awaiting to board the plane to arrive in “sin city” for their chance to win their fortunes on the slots, blackjack, poker – whatever floats your boat. Telling themselves that they have it figured out this time and once they win they can buy that island in the Caribbean and sip margaritas on a beach the rest of their lives, never having to worry about money again. If that’s what you’re into.

There are few ideas more interesting or thoughts more compelling than instant wealth. Becoming an overnight millionaire and going from rags to riches is the unfulfilled dream of most people. My argument is not as much moral and ethical as it is an argument of finances, focus, and hard work. I have no qualms with someone who wants to buy an occasional lottery ticket for entertainment purposes if they are out of debt, and the lottery ticket money doesn’t take food off the family table. But if the average person who consistently plays the lottery and buys tickets in amounts that equal the national debt would simply invest that same amount of money each week in an average growth-stock mutual fund, they would be millionaires within 20 years.

In the book “The Improbability Principle”, it states that, “1,167,843 years (or 15 thousand lifetimes) is how long you’d have to play Powerball to have a 50/50 chance of winning a jackpot.” I believe your hard-earned money, your family’s future, and all your hopes and dreams deserve better odds than that.
The idea of getting rich quick is not a real plan for your retirement. Creating a wealth plan provides a certainty over time for financial freedom and success. Investing in yourself and your business where your odds of winning are a little better than a billion to one.

Invest in things for your business that are going to generate positive ROI with little risk. Invest in the knowledge of what you need to do to make massive, incremental gains to grow your sales. Take advantage of these opportunities.

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Talk soon,
Michael

P.S. I won’t lie to you, I will probably play a little roulette and craps while I’m in Vegas this week?, But I never play with money I can’t afford to lose. Gotta have a little fun, right?

By |2018-02-23T09:50:09+00:00February 23rd, 2018|Special Message|0 Comments