It’s hard to wrap your head around how bad the odds are of winning the lottery. Our brains just aren’t suited for that kind of massive scale. So when you see a lotto ticket for sale, then you see a winner on TV, it’s easy for your mind to come to the conclusion “it’s got to be someone, why not me?”
But here’s the thing. It won’t be you. The odds of winning are so close to winning, they might as well be zero.
Even if you do what Tyler did here. You buy TEN tickets a week EACH AND EVERY WEEK for FIFTY YEARS. Imagine after 50 years of doing that it qualifies you to go to a stadium packed with 11,239 people. Then out of THOSE people, exactly ONE is chosen to be the winner. 1 out of 11,239, the other 11,238 go home losers. That’s a 0.009% chance of winning after buying 26,000 tickets over 50 years. It won’t be you.
But on the flip side, INVEST that ticket money over the same period of time, it’s basically a guaranteed jackpot. Over the last 50 years, the S&P 500 has returned 10.8% per year on average. Getting just that AVERAGE return over that time, Taylor ends up with over $1.7 MILLION dollars.
Be like Taylor, not Tyler. Invest your hard earned money, don’t burn it on tricky math scams.
As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.