The only way to win a lottery – and numerous others to become rich

I just came across the news of a lower-middle class man winning the lottery, after purchasing it by adding the money from his 6 year old son’s piggy bank.

He had won the largest sum in that series, which would amount to almost 3 million US dollars!

A pretty huge sum for someone like him.

And he’s not the only one to have been blessed with immense luck.

There’s many others who preceded him in obtaining the fortune of a lifetime, and there will be many more to come.

But how do they win it amongst the several others who have bought the ticket?

How to win a lottery?

You keep hearing in the news, about the most unexpected people winning the lottery.

You also often hear how they were struggling to make ends meet, and suddenly hear the news that they’ve won millions.

To read such news sounds almost sounds like a fairytale!

So what is the single most factor that pushes you to win big?

It is simply – luck!

Good luck helps you to win big against others.

Luck is merely hit or miss. It follows the law of probability.

Simply put, either you win it or you don’t.

The more the entries into the system, the lesser chance for you to win.

How do you increase the chances of winning?

What most people tend to do is, to buy more lottery tickets.

They would buy every year, especially in those months where the lottery company massively advertises its new bumper tickets.

Some even buy the whole series in the hopes of winning.

Though these methods do help in winning, winning a lottery solely relies on your own luck.

No matter what you do to win a lottery, you can’t guarantee chances.

What happens once you win?

There have been many accounts of people winning really huge amounts.

Fast forward years later, many of them – I certainly do not mean all – end up spending their prize money away.

There have been stories of many who gambled their sudden fortunes, got into money making scams and lost their millions, or some even been cheated by friends.

Should you worry? No, this rule simply doesn’t apply to all.

There are people who have invested their prize money into buying land, stocks, gold, etc., and have grown their wealth profile significantly.

While there also exists mediocre financial achievers who live comfortably by buying a property and spending the money wisely.

Whether you grow or spend away all your money depends on how well your financial discipline is.

How can you be “financially disciplined”?

It isn’t what you assume it to be.

Financial knowledge and discipline doesn’t come from graduating from the top business schools.

It comes from years of understanding your financial outflows; by analyzing your income and expenditure.

Ask any self-made wealthy person (by wealthy, I don’t mean rich).

They will tell you how they became what they are by living frugally, finding better opportunities to increase their income, and by making smart investments.

You can get super rich by winning a lottery, but it doesn’t guarantee a life of financial independence.

Once you make stupid purchases, even the millions in your bank account can disappear.

If the first thought that occurs in your mind after winning a large sum, is to buy whatever you’ve dreamed of, consider yourself lacking financial discipline!

And this is the mindset of 99% of the poor.

If you’re wise enough, allocate a well-planned budget for expenditure, investment, and savings.

How can you become rich if you’re out of luck?

Many financially underachieving folks, including my family, have a misconception that winning the lottery is the only way that their economic woes can disappear.

Right? Wrong!

There are numerous other ways to becoming financially secure, other than winning a lottery.

It includes saving and investing, starting your own business according to market needs, renting out property, stocks, etc.

People wouldn’t consider these methods as they are boring and takes a long time, as compared to hitting the jackpot.

Get this, earning easy money in the competitive modern world is as difficult as counting the fish in the ocean.

In addition, you don’t value money if it is given to you for free.

Always consider long term wealth creation strategies rather than testing your luck at the local bingo on Friday nights.

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An average American spends $320 per year buying lottery tickets, in the hopes of winning.

And mostly, they don’t.

Let’s say, you invest the same amount each year in stocks, you’re bound to make at least $50 in profit and dividends.

That gives you $320 + $50 = $370.

In 20 years, it is $7400.

And it is the amount you’re more guaranteed to get, as compared to a lottery.

You might say that isn’t stocks also like gambling, and no different than the lottery system?

No, stocks aren’t meant for short term success. Not if you aren’t a full-time day trader!

It is always less risky to build your wealth long term, rather than losing your fortunes to inflation.

Not only stocks, but any investment works this way.

Now you decide…