This week, nobody won the 363 million dollar lotto jackpot so naturally it rolled over. They estimated it would be worth 500 million by tonight's drawing. Just to prove them wrong (that means never underestimate the buying insanity that will follow, no matter the odds when a person thinks that they will get rich soon), John Q Public has now pushed that number to over 550 million. Idiots are draining their savings accounts for a chance to have their 15 seconds of fame and fortune.
Last night on the news, some man with more money than brains bought 10,000 tickets! What happens when he doesn't win? Will he say that it was money well spent?
Even my mom called from a state that doesn't sell the tickets and asked me to buy her one. When we started talking, I realized she truly has no concept about how that money willl impact her life or how much money that really is but she wants the tickets anyway.
What do I hope? I hope that mulltiple people win. More importantly, I hope that whomever wins, that they are people who will view the incredible piece of luck as a sign that they should spend the rest of their lives doing good things for others with their windfall.
Will it truly happen? Probably not. Historically, the majority of lotto winners have very little at the end of 5 years. As my girlfriend who is a CPA for some pretty financially well endowed clients always says: "big money goes fast because tt disappears in big chuncks".
Not all lotto winners are selfish or irresponsible though. One of my favorite stories is of an elderly woman in Fl who won over $150 million at the age of 65. When asked how it would change her life, she said: "I can take my bridge club to dinner once a week now instead of everyone having to pay for themselves." She was not married and had no children. With the money, she started a trust fund to help elderly people pay their utility and medical bils,
Did I buy a ticket? Yes, because if you dont' take it too seriously, it's fun to dream big dreams.
This morning over coffee, my girlfriend and I each ponied up a dollar and bought two tickets together. She is the kind of person that would make me happy if she won. Generous to a fault, she is one of the most sincerely benevolent and unselfish people that I have ever known. To make it even better, her head is screwed on straight and she understands what is truly important in life.