Where are all of the billionaire lottery winners?
Where are all of the billionaire lottery winners? I think I solved the mystery!!
If I asked you to think of a list of rich people, I would imagine that you could think of a bunch. Warren Buffet, Bill Gates, Jeff Bezos. The Waltons from Walmart. We can think of many examples of rich people.
How did they make their money? Most people made it through starting a company, or being the heir of someone who started a company. While you can think many entrepreneurs that had their start by creating a company, can you think of a single person who got their fortune started by winning the lottery?
Richard Branson started the Virgin companies. Mark Cuban started and sold a company, and used that to buy many more. Who do you know of that used the lottery as the seed that began their run of investments? Can you think of anyone???
Now, there might be someone who did this, but more than likely, you have never heard of anyone getting their start by winning the lottery. We have however heard stories of people that won the lottery, spent a bunch of money, bought a big fancy house, gave a bunch of money to their friends, only to find out that within a year or two, they are broke again. That’s common.
Why is that? Think about it. Whether it be a few million dollars, or hundreds of millions of dollars, why aren’t there at least a handful of people that soar to the top of the charts after hitting it big from winning the Powerball or the Mega Millions?
I think the reason is simple. It comes down to behavior. Now, I am not saying you should or shouldn’t play the lottery, That is up to you. What I am saying is that winning the lottery doesn’t help if you don’t have proper financial behavior.
If you aren’t financially literate and don’t know how to budget money or monitor your spending, adding millions of dollars to the mix isn’t going to fix that. It just allows you to supercharge your financial mismanagement.
Whether you are a lottery winner or not, the key to financial success is learning how to handle your money properly. You don’t have to be a genius to learn it. Anyone can do it! Especially you!
The key is to learn about proper financial behavior.
Learn the basic concepts of financial literacy and put those principles into action. I promise to keep bringing you content that will help you learn what you need to know so that maybe one day they will be writing stories about you!
