WINNING THE LOTTERY OF LIFE

I had a guest speaker, Mick Anderson, visit my Introduction to Business class this semester to talk to the students about financial planning and wealth management. What I didn't realize about his speech was that he was about to coin a phrase that resonated loudly in the classroom. Mick described people who had "won the lottery of life." People like Taylor Swift, Peyton Manning, Justin Beiber, and other famous celebrities and athletes. These stars have accumulated great wealth by using their talent whether it be singing, dancing, or playing football. And as a result- they hit the lottery. Their income from their talent will continue to pay them now and well into the future.

Photo courtesy of: www.flickr.com/LisaBrewster

 

But here is the reality. We all will not hit the lottery of life. Many of us will work great jobs and make a good decent wage. But lottery numbers? Hardly.

The point in Mick's message was simple. We have to play our own numbers whatever they are. If you are a $35,000, $55,000, or $100,000 a year income provider- then make those numbers work for you.

Will you be able to drive the same cars? Doubtful! But can you purchase a car? Absolutely! Will you have three homes in different parts of the country? No! But you can have one beautiful home.

This doesn't mean stop working hard to reach your dreams. But it does mean stop spending your money like your winning ticket numbers have just been called. Do more with less. Accumulate experience not stuff.