I recently saw a funny but interesting infographic about lotto in Francisco Colayco’s blog that I felt so excited to post in this blog. If I could just post this infographic in all walls of lotto outlets, I would have given this country a big favor. Many of us Filipinos try our luck to be millionaires by lotto betting. Even there is a higher possibility to be stricken by lightning than by winning the national lotto jackpot, we still have this hope that someday we will win the jackpot. Many combine their family birthdays, special dates and special numbers in their lotto bets. We were taught by adults that if we dream about winning the lottery, we need to memorize and write down the winning combinations because they believe that these are the possible winning combinations. But I really don’t believe that our dreams can provide us with the winning combinations, although I admit that when I was young I believed with this myth. I don’t believe on winning the lottery anymore that is why it has been years since I bought lottery tickets. Now I believe that working hard and working wise are the keys to prosperity. I am not against that lottery business because they provide revenue to the government (via PCSO) that could be used in various socioeconomic projects but I am against on how some Filipinos spend a lot of money in lotto betting for many long years. I observed that a lot of poor Filipinos patiently fall in line in lotto outlets nationwide. I am frustrated with this scenario because I believe that their money should be spent or used in something more worthwhile.
Many Filipinos grew old betting in our national lottery and almost of all of them never won. They are still betting now but surprisingly they don’t have retirement fund or even an emergency fund. If they could have invested their money from the start instead of betting in the lottery, they could have funds for retirement and emergencies. They don’t need to retire poor if they just knew how to use their money properly instead of betting in the lottery daily with the rest of their lives. Let us look with the infographic below and be amazed:
If a Filipino invested his daily budget of 100 pesos for lotto into an investment vehicle that could give him 20% average return in a year, he would have a retirement fund of 229,129,680 after 40 years of investing. Imagine this huge amount of money that could give a comfortable retirement for a Filipino. Less than 1% of Filipinos retire with this amount of money so if you are able to accumulate this wealth for 40 years and never bet in the lottery, you would be one of the few who would retire rich. It is difficult to retire poor in the Philippines, because if you get sick you need money for treatment. If you don’t have money, you will just die unless your children and relatives will help you financially. Forget seeking help from the government, you know why.
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