ep.020 – beating the lotto

It’ssssssssssssss episode 20, I know it is not a big number but you got to celebrate those small wins and I will unashamedly continue to celebrate every 10th episode until the 100th! So an FI update on the last week, well we have topped up our notice by $500 which create a new balance of just over $49k with around $17.5k still in our emergency fund and a bit extra working capital to cover Aleisha’s business expenses. So with our mortgage balance currently sitting at $417,719.64, our eyes are still on the prize and now setting a stretch target to see if we can be mortgage-free before the Target date of December 2022. And the only way to do this is by generating more income and cutting costs has I continue to bang on about, well unless we with the $52 million lotto tomorrow, which I can 100% guarantee we won’t because we won’t buy a ticket. Look I know a ticket is not going to break the bank and even if we spent three bucks every week buying a ticket it isn’t really going to do too much damage to our FI journey, so why, not you may ask?

Well, there are several reasons, firstly my introduction to such lotteries was back in the UK, I
remember the glitz and the glamour of the National Lottery launch sometime in the 90’s and when I became old enough to buy a ticket I was also old enough to have been fully indoctrinated into the cult of maths and knew that if I was to buy one ticket a week the only strategy to maximise the probability that I would win would be to use the same numbers, every week… for the rest of my life. This though for me was fraught with danger, as if I forgot to buy a ticket one week and those numbers came up. As time went on, in hindsight, this was a great financial decision, as in New Zealand, the National Lottery in the UK brought out so many different versions of the lottery and then add the Euro Millions. I would have to be entering all these lotteries and then with my move to New Zealand I would have to carry on my numbers in New Zealand and back at home, it would have been a logistical nightmare, especially with the time difference, in fact, I don’t think I would have had time for much else! Ah, the way each of our minds work are so different aye, but I am sure there are some people out there who can relate to this dilemma.

Needless to say, I have never bought a lottery ticket in my life and never will but to my shock one birthday in my early twenties a work colleague bought be a couple of lottery tickets and I was horrified, internally, of course, I accepted the gifts in a very courteous, ever so British manner but deep inside I was spinning. You see there were so many things that could go wrong – in my head anyway. First and foremost I would need to make sure I found out what the Lottery result was and then (and this was very important) I had to be able to thoroughly check both tickets against the winning numbers to confirm that I had definitely not won any amount of money and then quickly destroy and discard of both tickets without ever being able to remember those numbers – as imagine seeing those numbers come up sometime in the future knowing that I could have used by probability busting philosophy of using the same number every week forever – only to realise that, no I was so against the lottery I had not paid my quid that week to secure my millions. Oh, what a quandary I get myself into sometimes, the smallest things, molehills into mountains I tell thee, as I would have said back when I was in Sheffield, Yorkshire.

Anyway, fast forward 15 or so years and to the other side of the world in New Zealand as a family man, it crosses my mind what it would be like to win millions of dollars and instantly become financially independent, and yet reaching the goal would be nice but there would be a little bit of regret not finding out how life would have panned out without a windfall. What learnings and satisfaction would I and my family have got from working diligently towards our goal and making strategically calculated moves to design and manufacture a life we want to lead without relying on working for an income that we are not 100% passionate about. You see I think reaching financial goals the hard way brings around a lot of satisfaction, yes you put in the hard yards but also in doing so your learned so much about yourself, your family and in our case, we are able to teach little Stella some wonderful life skills. But winning the lottery as fantastic as it sounds, takes all this journey away from you, and as such, I am pleased we will never win the lottery unless someone shockingly buys me another ticket – urgh – shudder the thought! I guess for those that do win the lottery the key would be to take a step back and develop new life goals, as there is only so much non-productive fun you can have without it being soul-destroying, so for the multi-millionaire or millionaires that are created tomorrow please consider maybe my new-found found consultancy service I could offer lotto winners in this area – what a new income generator that could be!

On the subject little Stella’s life lessons, she has suddenly gotten interested in business this week and would like to start her own online sewing business, this is fantastic and something I can really help her with. So we have developed a plan and will get to work on it and I will save the details on the progress that is being made until the next episode.

…I still can’t stop thinking about my new lottery millionaires consultancy service, I think I am really on to something here, or may Mr or Mrs millionaire you could just continue to listen to this podcast… until next time happy fiday.

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