Does Your Financial Plan Rely Upon Buying Lottery Tickets?
I was very pleased and pleasantly surprised to receive a response from Jerry Kalish, President of National Benefit Services, Inc., a Chicago-based retirement plan consulting, actuarial, and administration firm that helps employers get their retirement plans from where they are now to where they need to be. The firm’s clients include U.S. employers and multi-national employers with U.S. operations.
Published in LinkedIn and on The Retirement Plan Blog by The National Benefits Services…as follows…
Actually, a surprising large number of people believe that the most effective wealth building strategy is winning the lottery which I reported on in my 2006 blog post, http://tinyurl.com/GamlingOnRetirement .
A 2006 survey of about 1,000 Americans by Opinion Research Corporation conducted for the Consumer Federation of America and the Financial Planning Association found that one in five Americans (21%) survey thought playing the lottery was their most practical strategy for accumulating several hundred thousand dollars.
As I read the results of this study it causes me to think and ask…are people relying upon buying lottery tickets for their financial plan because…
They actually think this is a good option?
They have never been informed about developing a plan for retirement?
If they could see the value of having a retirement plan would they do it?
Have they just given up on developing a retirement plan for many reasons?
In any case 21% or more than 42 million people are gambling by throwing good money at bad opportunity. If the odds are 15 million to 1 to be able to win the lottery…you would need to play the lottery a lot in order to have decent odds…this is just gambling…not a plan at all… and it is true that if you use money to buy lottery tickets that money can’t go to your retirement savings plan.
Does this information raise any questions with any readers of this post? If so…I ask that you “Leave A Reply” below or give me a comment firstname.lastname@example.org.
Today’s post is about how we must deal with the current 5-year long recession and your financial goals…and what we can do to achieve your financial goals in the midst of this very severe economic downturn. Has this economy affected you in achieving your financial goals? It certainly has affected me. And frankly I don’t see any outside help in sight. We are now the “regulation nation”, we have added more taxes for virtually everyone, we are seeing the suppression of truth and honesty, and as a result we have very little trust in our government. Can we really thrive as a nation where the wealthier class supports the remainder with lenient social programs?
Can we as individuals overcome these major obstacles? It is a tremendous challenge!
My answer is absolutely YES! To me the real “American Way” is when the going gets tough, the tough get going. And I am talking about individuals now…not government. What is going on with our government is frightening in terms of intrusion on our freedoms, our constitutional rights, unbridled government spending, and wastefulness. Unless we change the way that our government is being managed, I have great concerns for the long term existance of our country as a republic.
And now I come back to the individual American citizen. I have great confidence that enough of our citizens are going to stand up and fight for our freedoms until we can get this country on the right track again. We have many citizens of this country that will not accept and talk about what is real truth now. Political correctness is destroying many values in our lives. Many are so very disinterested in what is going on that even some college students do not know about current events including who is the Vice President of the U.S.. I believe that truth will win out. This is a nation founded under God’s principles and beliefs, and I pray that He will lead us in the right path.
In the meantime as we gather hands to correct our government, I think the even more serious issue is the welfare of Americans who are struggling for financial security and independence. I submit that the only way for us to individually overcome these obstacles is for each person to take strong responsibility for their own personal financial well-being including finding a way to achieve financial independence. I believe that each person in financial need identify skills that they have and determine how to share those skills and bring value to others. This means many self-based and home-based businesses to bootstrap each of us to prosperity.
And I offer to help individuals find those opportunities where they can become successful and to teach them how to market themselves successfully. For discussion contact me on email at email@example.com or by phone at 407-749-9395.
Maybe you just graduated from college and you have the “average $33,000 college tuition debt” or more. You have now begun searching for a corporate “JOB” in a career field in which you are qualified, or maybe any field that will help you pay your bills and/or move out from mom and dad. Or maybe you graduated a year or two ago or more and you wonder how you are going to get on the right career path. Or maybe you have been a victim of the downsizing in this most unusual American economy and you are wondering how you can ever have an enjoyable, pleasure filled life for you and your family again.
So Are You Looking To Realize The American Dream?
Or maybe you are one of those incredibly wonderful veterans returning from your all voluntary service and you are ready to begin your way to achieve the American Dream! May God Bless All of You for Your Service and placing your country and all of the people who live in it before your own priorities. We are so proud of you!!!
As a veteran of the Korean War in the 1950’s I empathize with you and on this very special Memorial Day Weekend, honor you and all veterans who have sacrificed their lives or even more for this country. I watched the TV History Channel for five hours yesterday and relived WWII where I remember on Sunday morning, December 7, 1941 the Japanese attacked Pearl Harbor. Did you know that 8 million Americans fought in this war and that 415,000 American Soldiers died defending America? May God Bless every one of them and their families. And this goes for all of you during the Iraq and Afghanistan military campaigns who have lost your loved ones, your arms or legs or eyes or ears, and have been maimed for life. May God Bless every one of you.
This post is dedicated to anyone and everyone that wants to realize “The American Dream”, no matter what your background or experiences, or how many arms and legs that you have now. With many years of business experience I have succeeded in achieving the dream in my opinion and want to share with those interested as to how you might shorten your journey on that path. I am not filthy rich as are many who are extremely fortunate, and I have been up and down and up and down the ladder of success which seems to be typical in a capitalistic society. At this time I am very thankful for this country, the opportunity here, and the fact that I can share with others experiences that can be very beneficial.
To set the stage for your consideration of your career goals, I suggest that you compare the concept of being an Entrepreneur with that of Capitalism…do you want to decide your future or let someone else do so…including at least 5 days per week of effort 9-5 or thereabouts. Consider this statement on Capitalism…would you prefer to own your own business?
I am offering to share valuable information with you, without charge, and my reward will be that of getting you on your path. You may already know it all and you need no advice from your parents, your counselors, your peers and your friends, which is a real mistake. Very frankly, I sincerely wish there had been an internet when I came along and that there were successful people who were sincerely interested in advising me. I would have achieved much more than I ever have. Do you think that Donald Trump provides a service with his development of entrepreneurs? Do you ever watch Shark Tank to see how very successful business people choose to work with and fund entrepreneurs?
So what could I possibly do to help you to be successful (and not charge you an arm and a leg)? Sound trite? It is not. One of these days you will appreciate every helping hand that you can find. Here’s how we can get started…
1. Have you recorded on paper so that you can see it at all times…your goals and objectives for the next 1 and 3 and 5 years. If not, are you willing to develop these now, print them out and post them in front of your computer? If not…thanks for reading this so far however reading any further will probably be a waste of your time. I remember an age old saying “if you don’t know where you are going you will probably get there”.
2. Have you decided if you want to work for a corporation or someone else all your life or at some point in time do you want to be financially independent on yourself only? I ask that you write the answer to this question on your goals and objectives page and state what you want and when.
3. Have you inventoried your skills and recorded them on paper?
4. Have you inventoried your likes and preferences and recorded them on paper?
5. Have you inventoried your constraints so that you can narrow your searches to the real opportunities available?
If you will do these things, then contact me, together, based on your goals, we can discuss the next steps. You can reach me at email firstname.lastname@example.org or 407-749-9395.
By the way, my advice for you will be focused on helping you achieve financial independence…not a “JOB” which I refer to as a “just over broke” opportunity…which can also be a lot of fun and very enjoyable. I did this for (30) years with two of the top (10) corporations in America as well as (7) start-up companies for another (26) years. I currently have five businesses that I manage from my computer with a two hour per day investment. I wake up excited every morning to see what has happened around the world…and to see if I really made some substantial money overnight! Realizing the American Dream is not an overnight phenomenom…it is a process which takes commitment, a reasonable amount of time, and belief in yourself that you can be successful. Would you like to do this? Could you commit one to two hours per day to the goal of achieving financial independence? To me that is a very minor commitment to being your own master of your fate forever!
It would be a pleasure to talk with you.
And by the way, before writing this blog post, I had the privilege of watching and listening to Steve Smith of ESPN and I find him to be highly inspirational and to make a lot of common sense…please listen to Steve…
Stephen A.’s Position Unchanged on Mark Cuban’s Comments