The $12 million Hong Bao draw is this Friday and I haven't got a ticket (a lottery ticket is one of the worst investments you can make), but it's still nice to fantasize about what I can do if I win the lottery.
With $12 million, it is possible to get out of the rat race and live a financially free life. A house, a car, all that can be gotten as well. For $1, Toto sells us a dream of being a multi-millionaire without having to slave our ass off for the next 30 years to get that kind of money. But sadly, it seems like just a dream for the most of us as the odds of winning the first prize stand at 13,983,816 and the first prize may even be split with someone else, cutting our winnings into even more pieces.
Coming back to reality, that's probably why buying a lottery ticket is a bad investment and instead of spending that money, we can invest it well so that we can have a much better chance at building a better future. So, will I get a toto ticket for the upcoming draw? The answer is no, I'd rather save up my money to invest in the depressed market :)
Thanks for sharing that the odds of winning is over 1 in 13 million! I usually stay away from toto and 4D as i always thought it's impossible to win. But as you mentioned, $1 for a dream, so i am also buying the dream for this friday as well.
ReplyDeleteFigures aside, let's talk about feelings ......
ReplyDeleteEver wonder why daily there are so many people queuing to buy Toto or 4d, etc ?
Low risk - $50/mth to get $3000-$5000 for 4 d (example) so this betting (call it gamble, investment, whatever) provides an avenue of HOPE for many.
As the commoners would say - no buy no chance, got buy got chance. It is the latter they are banging on, a chance to get themselves out of whatever hole/situation they are in. Perhaps, better education, travel, a bigger house, etc.
I have often think if this world is purely run by logic, rational thoughts, wouldn't it be better, lower risk for all ? Then again, we are emotional creatures and feelings dominate us more than our head knowledge (some may argue otherwise)
Your faith determines your fortune as Neville would say it so beautifully....
Have a great day ahead !
Hi Mr Chua,
DeleteI guess so, people are always clinging on to something they hope will make them rich without having to take a large risk or putting in a lot of hard work but that's not really possible in this world, is it?
Maybe it's this mindset that gets people to start speculating in the stock market as well?Hmmmm......
So sad and so true: the worst ever investment in the most impossible pipe dream. I decided to buy Powerball tickets online after it set the world's jackpot record and have been playing for several months already making it the waste of money in the long run.
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