A few months back Frank overheard a conversation at the Sacramento International, while waiting for his flight, where two people were discussing their ultimate wish to win the California State lottery and thereby never have to ever work again. Sure, this is a great dream, but is it keeping them poor?
Frank thinks there are 2 quite different points to consider here:
1. The cost of those lottery tickets all adds up at the end of the year. For example, if you go out to your local Sacramento Supermarket and spend about $7 a week, a $1 per day on a ticket by the end of the year you would have spent $364. May not sound a lot. However, the opportunity cost, that is the cost in terms of the opportunity forgone, is actually higher since this money could have been saved, thereby earning interest or properly invested.
2. Most people out there who buy lottery tickets do not have a rich mindset at all. They crave all the riches without wanting to do anything for it, or they don’t believe in themselves or believe their own ability to produce any abundant wealth. In this sense, the lottery ticket can be seen as a financial “white flag” being raised across the board. A lottery win becomes their only chance of becoming rich.
Frank finished a book last month that was very relevant to the second point. Think and Grow Rich by Napoleon Hill. Reflect on this title of the book for a moment…. Think and Grow Rich!! The secret of getting rich relates to peoples thinking. Rather than hoping for luck to make you rich, believe in your own ability to produce wealth. It can be done. Frank Yan bought this book from the Sacramento Barnes and Noble where he bagan his first chapter, prior to
purchasing.
Frank suggest that if you currently purchase lottery tickets on a daily basis, take a moment and do the following activity: Close your eyes and try to imagine yourself rich as a result of your own efforts. Was it easy or hard? If you had any problems Frank recommends you stop buying lottery tickets for the moment, and start working on your thoughts. Only when you have gained control over your mind and realize your own potential to make yourself rich do suggest you consider buying lottery tickets again.
So wait a minute…. Why did Frank Yan just say you can consider buying a lottery ticket again? Well, to directly answer the question posed in the title to this post: It is not the lottery ticket, in itself, that will keep you poor. Rather it is a poor mindset that will keep you poor.
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