If you win the lottery, who could you trust? Would you go out of your way to tell your friends and family? Here are the 3 major reasons why you should keep this win to yourself.
The lottery is the wrong type of publicity
When people win the lottery, they are usually missing the qualities that make a person famous. Entertainers spend several years promoting their brand and perfecting their skills before they achieve fame. Many of these entertainers true fans have been with them from the very beginning. Musicians usually play at several small gigs all across America for several years before they make it big. Actors and Actresses also start small in very humble places. They fine-tune their skills and talents to small audiences first before they make it center stage in Hollywood. During this time, the entertainers are constantly evaluating their situation to make sure that fame is what they want. They also have plenty of time to contemplate on what they will like to be famous for.
People who win the lottery are only known for winning the lottery. Lottery winners do not have other lottery winners that they could hang out with for support. Even their friends and families will never be equals financially. Whenever someone approaches them who may not have approached them in a long time, it is usually because of the money. A lottery winner may also experience a lifestyle change from being free to go wherever he or she wants to not being able to go outside at all. Lottery winners make an easy target for stalkers. It is not uncommon for a friend or family member to blackmail a lottery winner into giving them money.
There is nothing to do but spend money
Once the world know that you have won the lottery, there is nothing to do but spend money. Believe it or not, going to work actually prevents people from spending all of their money. Having a 9 to 5 job usually prevents people from shopping online or going out to the mall. Winning the lottery will make your coworkers feel uneasy to be around someone who does not need a job. This animosity toward a lottery winner may make it impossible to return to a normal 9 to 5 job. Hanging out with friends in public spaces will become a thing of the past. Someone expecting money from you will be waiting where you normally hang out. The problem with not being able to have a normal social life is that you will now have to rely on your lottery winnings to make you happy. A normal day would be going out to the mall or a shopping center, purchasing an item, and then returning home. This type of life gets old quickly.
People May Threaten Your Life or Your Family’s lives
Once you have won the lottery, it is natural for others to feel that they deserve the money more than you. Since the lottery is a random system that picks its winners, everyone has an equal opportunity to win. Some people would take this logic to the next level and claim that they should have a part of your lottery winnings. What did you do to win the lottery besides buy a ticket? Some people who feel entitled may threaten your life by giving you ultimatums on when you should give them money. They may threaten your loved ones lives also to get the money they need. Your social media account could become a medium for harassment. You may need to change your phone number because of all of the different threats that you receive on your phone. You may have to pull your children out of one school and place them into another school because of these threats.
There is a reason why Friday feels so good. Some people have even started celebrating Friday on Thursday. These people call Thursday, Friday Eve. The weekend is when we get to relax and be with our families. Friday is the day that comes with the anticipation of Saturday and Sunday. So Friday feels good because it is the last day before a potentially great weekend. This feeling is the exact same feeling that we get when we play the lottery and almost win.
The casino takes the concept of almost winning a step further. The colorful bright lights, and the celebratory noise of the slot machines fill every casino environment. So when a person enters into the casino, they already fell like they have won. To add to this effect, there are usually no clocks on the wall at the casino. So not only do you feel like you have won when you walk into the casino, there are no clocks to keep track of time.
The slot machine has its own mechanisms for almost winning. Slot machines have been known to trap people with its promise of almost winning for hours and hours. The slot machine is the siren of the casino. Its celebratory sounds call you as soon as you enter the casino. The gateway to gambling often starts through a slot machine. The price of playing a slot machine is a mere quarter. In some casino’s there are penny slot machines. Play a penny, win $500. Play a quarter, win $1000. What better way to leverage your spare change than to spend it playing the slot machine.
The slot machine allows you to almost win. When you pull the lever to a slot machine, you usually have to match three out of three symbols to win the jackpot. Many times the slot machine matches 2 out of 3 symbols allowing you to experience the feeling of almost winning. The euphoria felt by matching 2 out of 3 symbols produces enough dopamine from our bodies to keep us playing until we are broke. The anticipation of the win increases the level of dopamine in the brain. The dopamine triggers reward-motivated behavior that encourages us to play the slot machine again.
Playing the lottery releases a smaller level of dopamine. There is rarely a feeling of almost winning because the odds of winning are so much higher than a slot machine. The higher level of dopamine, the more addictive a game can be. This reason is why going to the casino is addictive and playing the lottery can be looked on as a hobby and not a bad habit. So keep on playing the lottery, it is good to have one hobby that could eventually pay off big.
I do not plan on keeping all of my lottery winnings for myself. My goal is to bring others along with me for the ride when I win the lottery. After I have consulted a lawyer and an accountant, I would share a large part of my lottery winnings in three ways.
Distant family And close Friends
Since family comes first, they would get 1/3 of my lottery winnings. The money would go to the heads of the household for anyone not in my immediate family. I will place 1/3 of my winnings in a trust that will pay out my family monthly. Having payments come from a trust would be a stipulation for receiving a share of my lottery win. The trust would specify the amount of money each family member would receive. The trust would also specify when they will receive the payments. I do not want people to line up at my doorstep for a paycheck. A trust will pay all those who share in my lottery winnings. I do not want my distant family members to know that the money has come from me.
A courier would notify my friends that they have inherited money from a trust. I do not want my friends to know that this money has come from me. If they find out that the money comes from me then they would feel in debt to me for the rest of their life. If my friends feel uncomfortable around me because of my lottery win, I may not be able to keep these friends.
My Church and Affiliated Nonprofit Organizations
My church and any nonprofit organization that I am affiliated with would receive 1/3 of my winnings. This list would also include any nonprofit group that I was a part of in the past. I would include only the organizations that I was a part of first since I know these organizations. The list will also include a few organizations that I researched.
My Immediate family would be sharing 1/3 of the lottery winnings with me. So I would receive 1/2 of 1/3 of the lottery winnings. My immediate family members would receive the other half of 1/3 of the lottery winnings.
Welcome to our Blog!
What is the correlation between winning the lottery and early retirement? Winning the lottery happens overnight and could mean early retirement for some individuals. For the other 99 percent of us, we need to work hard and save to retire early. It also helps to make wise financial decisions daily while contributing to long-term investments to meet your goals.
In my blogs, I plan to focus on why it is important to have an early retirement mindset before and after winning the lottery. I also plan to focus on how winning the lottery is the ultimate windfall when it comes to your finances. And why having a long-term investment strategy is the key to keeping it all. Although winning the lottery is the ultimate financial freedom to many people, knowing how to manage your money without a million dollars in your bank account is a financial freedom that many of us can achieve. As we journey on the road to achieve financial freedom, let’s roll up our sleeves to work hard and save. Let’s continue to make wise financial decisions daily while contributing to long-term investments. And let’s never forget to dream big when playing the lottery.