DON’T BET ON ANYTHING BUT EDUCATION
What This Means To You
Mr. C. had a job as a garbage man when, at age 19, he won $14.4 million in the lottery. He spent millions on a mansion, drugs, and gold jewelry, and the money disappeared quickly. Just a few years later, he was completely broke and living off unemployment checks.
Mr. P. won $16.2 million playing the lottery, but within one year he spent so much money that he found himself $1 million in debt. A former girlfriend sued him, and his brother even tried to hire a ‘hitman’ to kill him so he (the brother) could inherit the winnings. Mr. P. was then doomed to live on $450 a month and food stamps until he died.
Ms. C. defied the odds. She won the New Jersey lottery twice. The first time she won $3.9 million and the second $1.4 million. After she won, she retired and spent her time at the casinos in Atlantic City, where she lost all of her money. Now she works two jobs so she can pay her bills.
These individuals are not unique. A large percentage of people who suddenly receive a windfall of cash will lose it within a few years, according to the National Endowment for Financial Education. In fact, 70 percent of lottery winners end up broke within just a few years.
Similarly, 78 percent of former NFL players are bankrupt or under ‘severe financial stress’ within two years of retirement, according to Sports Illustrated Magazine.
Research indicates that these individuals did not know enough to manage their own money or to find people who could be trusted to do so.
So even if you do strike it rich, an education will help you make better decisions with your money. And if you don’t strike it rich, an education will still provide you with a comfortable life.
Stay in school, take hard courses, and prepare for anything that may happen to you. You can lose your money, but there is one thing that no one can take away from you, and that is your education.
WITH AN EDUCATION, YOU WILL BE ABLE TO MAKE IT RAIN FOR THE REST OF YOUR LIFE.
Start now to learn, practice, and apply the skills you will need to earn your future success.
Participate in the Rainmakers Internship Preparation Program in your school.