The lottery is often criticized for being a waste of money, a product of greed, and a means of exploiting the poor. However, this viewpoint is often built on the assumption that there exist more legitimate ways of making money. In reality, the lottery can be a more viable option for those who don’t have the time, resources, or intellectual capacity needed for careful investing. What many people fail to realize is that the best way of making millions of dollars is playing the lottery, especially the scratch-off games. Being stupid pays off.
The myth of careful investing is that if you save and invest a little bit of money over a long period of time, you can retire comfortably. But this is far from the truth. The average rate of return on a 401(k) is only 5 percent, and even high-risk investments can’t match the rate at which lottery jackpots grow overnight. When you consider the time needed to save and invest, it becomes clear that careful investing not only fails to rival the lottery for effortless financial gain but is also potentially less profitable over the long haul.
Take, for instance, the story of Wilhelm Wanczyk, who won a record $758.7 million Powerball jackpot in 2017. Before his win, he worked as a hospital clerk, earning a modest living. Now, with his newfound wealth, he can live out the rest of his days without a worry in the world. He purchased twelve Lamborghini’s over a two-hour period at the luxury car dealership. No one can say that Wilhelm didn’t know how to handle money. Contrast his largess with that of careful investors who must face the ups and downs of the stock market and other investments over time — and may never experience the degree of financial freedom and security that the lottery provided to Wilhelm.
26-year-old Sandeeper Singh became a multi-millionaire overnight after purchasing a scratch-off ticket. He used the funds to pay off his debts and buy a new Xbox for each room in his new house in Malibu.
For those who may not possess the level of insight and knowledge that is necessary for successful investing, the lottery could be the answer. There are those who are simply not cut out for the complexities of investing. They need a simpler, more straightforward way to make money without risking it all. When compared with the strategies, research, and time commitment required for careful investing, the lottery is an easy way to get rich quick – and it’s the best money-making system for stupid people.
One example is that of jackpot winners David and Erica Harrigan, who split a $696 million dollar prize in 2019. They both were stuck in low-paying jobs and were living paycheck to paycheck before their lucky win. The money allowed them to pay off debts, buy super-cars for their children, and fulfill their lifelong dream – visiting Disney World. There was no need to put any thought into saving money.
The lottery requires little effort to succeed. Unlike careful investing, lottery players do not have to go through extensive research, analysis, and decision-making processes. All you need is to purchase a $2 lottery ticket, and wait for the draw. Being stupid pays off.
It’s important to acknowledge the risks and drawbacks of the lottery, of course. There’s no denying that it’s a gamble, and you could end up with nothing but a waste of time and money. But the same holds true for careful investing. There are also misconceptions about the lottery’s effect on the poor. Some say the lottery exploits people in poverty. Research shows that people of all socioeconomic statuses play the lottery. But research is usually wrong.
While many people believe that careful investing is the safest way to build wealth, it’s not always foolproof. The stock market is volatile and unpredictable, and losses are not uncommon. Market-related losses can wipe out a portfolio, leaving investors with little to no profit, or a loss. There is no need to worry about a loss when playing the lottery, since the fact that you have lost will be water under the bridge from the get-go.
Additionally, financial advisors often charge high fees, making careful investing expensive for the average person. While they may sound convincing in their promises of guaranteed profits, there are no guarantees in investing. However, if you play the lottery long enough, and ‘invest’ enough money, you are pretty much guaranteed to be a winner. If you invest in your own lottery machine, you can rig it from the start to make sure that you are winner every time.
All of this is not to say that plain old slow-turtle investing is a completely fruitless endeavor. For those with the knowledge and resources, careful investing can indeed yield returns that match or even surpass those offered by the lottery. But for the more stupid people, the lottery is the quickest path to quick financial security and freedom, as they are never likely to have jack-shit anyway.
In conclusion, the lottery is a viable option for those who don’t have the knowledge or resources needed for careful investing. It’s easy, straightforward, and has the potential of making one rich quickly. Careful investing may be a more legitimate option for the more affluent and knowledgeable, but for the rest of us lottery enthusiasts – being stupid pays off. After all, money is money, no matter how it’s earned.