OT: Chris Singleton--Financial Wizard | The Boneyard

OT: Chris Singleton--Financial Wizard

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Why is it anyone's concern how the guy spends his money?

10 grand to him is chump change.

Better yet, stand next to the power ball machine during the run up to the big drawing and ask about the financial condition of the fools in the giant line of math-deficient losers waiting to throw money away for the brief epinephrine surge that the possibility of winning the lottery - legalized, 7-11 gambling - allows the ordinary bumpkin. Most can't "afford" to be be throwing money away on 1 in a zillion gambling, to be sure.

Knew a guy who bought 20 lotto tickets a week. Back in the 80s, during exponential, debt-fueled U.S. growth.

I pointed out to him, that was grand a year. Over 40 years, invested at 5-8%, that net out over 100 grand, and that was a guaranteed return.

Who's the loser - the rich guy who can blow 10 grand and not blink, or Joe 6 pack, who passes up a guaranteed 100 grand for the cheap thrill of checking his numbers each week?

People should be able to do whatever they want with their money - gamble, prostitutes, drugs, whatever. Of course, they should bear the burden of whatever negative results thereby accrue.
 
Buying lottery tickets isn't investing. This is a sad story. A fool and his money.
 
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