There is a 70 M lottery draw this week plus 70 one million prizes, I know this is no powerball, but here in Canada we are pretty excited. Even my wife is like: “We need to buy a ticket”. And she bought one with her father because 35M is still an insane amount of money. Well when the draw was 50M or “just” 30M it was still an insane amount of money, enough to change your life (sometime for the worst).
I usually don’t buy lottery tickets, but when I do, it’s for the fuzzy feeling of what I will do if I win the jackpot. I would probably try to figure out what I need from it to generate a decent income each year to live a good life. From there, the rest would be to give away to family, friends and charity and maybe some upgrade (my beat up toyota definitely needs an upgrade). What weird we almost always imagine ourselves what it would be like to win the jackpot but never think about the secondary prize. Winning a million is nice too, but not life changing like 70M.
I’ve met people who seem to consider lotteries like an investment. I even heard some crazy story of actually robbing a bank to buy lottery tickets and use the winning to pay back the loan (True story, there’s bank manager lending himself some money to buy a lot of ticket).
While putting money in the stock market may seem like playing in a casino, you are still buying an asset (except if you bought Theranos) and while it may go down in value, its value is likely to be higher than your lottery ticket the day after the draw.
Now back to work! I wish you all good luck and if you win don’t forget to give some back to your communities.
Note: There is no tax on lotteries here in Canada, because let’s be honest, lotteries are already a tax on the poor.