A Hard Look at You, Your Company, and the Government: Part II

So last time we talked about some of the real financial decisions you have to make in the next few years to set up your future. Chances are you’ll wait until you’re mid-thirties, which isn’t terribly late, but most people by then we just about be wrapping up all the investing they’ll need for a successful retirement at a relative young age (55-60). We covered in Part I about why the Government is not the best way to go as well as why retiring early may be infeasible, depending on the life you want to live. We pick up there.

3. Lifestyle Isn’t All That
Personally, I want to make money in a way where I could have time to enjoy Life, enjoy a family, and contribute to the world. It may sound like my head is in the clouds. Maybe. But something in me compels me to help people—hence, I work on this website in my free time, I work with engineering majors at Columbia University, and I try to teach computer skills to my fellow Harlem residents. Mankind has defined itself on its contributions to improving his surroundings, but it has been in a sense clouded by pursuit of money for money’s sake. That’s not wrong at all, but it seems to bring on unneeded stress in my opinion. If your goal is to get that money, you better do it. Just don’t make it the only thing.

4. The Lottery is for Fun, and is NOT a True Investment Strategy.
You guys have heard me joke about my financial plan starting off with “Well, as soon as my numbers hit…” I say it in jest, but many simply do not. And that’s frightening. It’s also a trait of human behavior when people want a quick way out of their present condition. Seeing this doesn’t help either. If you’re looking to win, don’t count on it. If you’re working hard, continue to do so. Better planning will allow you to pursue the life you want, but it takes a disciplined approach. You can’t throw $30 at the club and a movie every weekend and wonder where the money is going.

Above all, the lottery is the largest wealth redistribution systems that works in reverse. You may hear about how people raise taxes on the rich so that the lower two classes can use it for essential services. Lottery funds are generally used for education, especially college. Lottery players are usually those in the lower class, who are looking for a quick step out of their "mess." (Studies have determined this by using ZIP Codes.) But think about it: who goes to college? Yep--the middle and upper class are the largest benefactors of college. So it's a "poor tax;" they're the ones who are funding the upper two classes' educational pursuits. Middle classers move up on the backs of those who play the lotter the most.

5. Know The Truth
Truth be told, true wealth is a long way and takes a certain mindset of optimism and graciousness. Listen to the testimonials of folks who say what they’d do if they won the lottery. You’ll hear “I’ll pay off my bills, give to charity, help my community,” etc. But why can’t they move to be in the position to do that now? Those most successful with money are those who know the value of it and how to not let it control them. Take it from the Oracle of Omaha: “The Market, like the Lord, helps those who help themselves. But unlike the Lord, it will not forgive those who know not what they do.”