My mom just came home after buying lotto tickets. Let’s just say she wins, we win.
Awesome. But what next?
Try to google the keyword “lotto winners” and you’ll be suprised that most headlines are “Lotto Winners Who Lost Their Millions”.
It’s not their money.
True! It’s not their money and they don’t have any “deep connection” to that money. They didn’t work hard for it.
It is like buying a pair of shoes straight from your savings for the past 6 months working part time selling kwek-kwek (quail egg balls). We always give more value to that pair of shoes than the rest of our footwear line-up.
But actually it’s more than that.
The real reason why they easily lost their millions is because those people are not ready for it.
They are not prepared.
It’s like one customer we had in our coffee shop who was a practicing vegetarian for 10 years already and on that faithful day decided to eat adobo – a Filipino sautéed pork. In the middle of his meal he started choking, and vomiting. His companion began to panic, and him as well. Hard to breath. Sweat. We have to rush him to the hospital.
For 20 years you are living with 15k a month, then boom, 70M!
Practically speaking they don’t have any experience handling big amounts. Small psychological wallet. No idea on banking, accounting, and investments. In other words, most lotto winners don’t know what to do about that money. Financially Illiterate.
And most importantly, they have no great-undying-powerful reason to be rich.
Always remember that being wealthy and rich is not about the money…it’s about the person. Wealth is only in the mind.
While writing this I can say I am a millionaire, even if I don’t have a million yet!
The truly rich people are made, they are not born.
So before even buying the next lotto ticket, let’s try to ask ourselves.
“Am I ready for this?”
If yes, remember me.
If no, stay here, and read more.
See you at the top,