Gambling on the Future
It's a sad state of affairs when the citizens of the richest, most powerful country in the world turn to gambling to secure their financial future.
But as 2008 drew to a close, this was precisely what was happening as people everywhere lost not only their jobs but their savings as well.
And in what has been termed the worst economic fiasco since the Great Depression, people actually resorted to gambling as a means of ensuring their long-term financial success.
State lottery sales were booming and people gambled their few remaining dollars on Lotto tickets in hopes of striking it rich and escaping the economic meltdown.
Casino revenues were at an all-time high as people flocked to the gambling halls once again in hopes of winning a multimillion dollar purse and escaping financial calamity.
The gambling industry of course is predicated on probability - the probability that the house wins more often than not.
Although it is possible to occasionally "get lucky" and strike it rich, the odds of this happening are quite slim indeed.
Gambling not only represents a dream, but an escape as well.
It's an easy out, and an easy way to deal with financial stress and impending doom.
People who gamble as a method of prosperity in the face of a global recession are doing so for one reason - they have no viable plan for the future.
Without a viable plan, survival and success in difficult economic times is next to impossible.
One reason that most people do not have a sound financial plan in place is that they don't know how to create one.
Studies have shown that of the people who use a professional financial planner, less than 3% have a written financial plan in place.
The unfortunate reality is that without such a document, achieving financial success happens to be next to impossible.
Without a financial plan in place, one really must resort to luck in order to retire successfully - it's exactly like gambling.
If you have a financial plan now is the time to pull it off the shelf and review it.
Make sure that it's relevant and make sure that you take into account the wealth preservation issues created by the current economic firestorm.
If you don't have a financial plan, now is clearly the time to create one.
Even if you do not know how, it is highly advisable to obtain sufficient financial education so that you can create one yourself.
But as 2008 drew to a close, this was precisely what was happening as people everywhere lost not only their jobs but their savings as well.
And in what has been termed the worst economic fiasco since the Great Depression, people actually resorted to gambling as a means of ensuring their long-term financial success.
State lottery sales were booming and people gambled their few remaining dollars on Lotto tickets in hopes of striking it rich and escaping the economic meltdown.
Casino revenues were at an all-time high as people flocked to the gambling halls once again in hopes of winning a multimillion dollar purse and escaping financial calamity.
The gambling industry of course is predicated on probability - the probability that the house wins more often than not.
Although it is possible to occasionally "get lucky" and strike it rich, the odds of this happening are quite slim indeed.
Gambling not only represents a dream, but an escape as well.
It's an easy out, and an easy way to deal with financial stress and impending doom.
People who gamble as a method of prosperity in the face of a global recession are doing so for one reason - they have no viable plan for the future.
Without a viable plan, survival and success in difficult economic times is next to impossible.
One reason that most people do not have a sound financial plan in place is that they don't know how to create one.
Studies have shown that of the people who use a professional financial planner, less than 3% have a written financial plan in place.
The unfortunate reality is that without such a document, achieving financial success happens to be next to impossible.
Without a financial plan in place, one really must resort to luck in order to retire successfully - it's exactly like gambling.
If you have a financial plan now is the time to pull it off the shelf and review it.
Make sure that it's relevant and make sure that you take into account the wealth preservation issues created by the current economic firestorm.
If you don't have a financial plan, now is clearly the time to create one.
Even if you do not know how, it is highly advisable to obtain sufficient financial education so that you can create one yourself.
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