Want to win $14,000 to $19,200 a year?

I know someone who would bet $300 to $400 every week on 4D and Toto. It is simply mind-boggling to me.

When I found out, I suggested that he should save the money every week instead.




To me, it is a no-brainer. 

I explained to him that, in a month, he would save $1,200 to $1,600 and in a year, he would save $14,400 to $19,200!

That is quite a lot of money.

His reply to me,

"Hey, what if I gave up and one of the 4D or Toto combinations I always buy appear as first prize har? You compensate me har?"

I was speechless! 




I mean if he had listened to me, I would have gone on to explain the next step of how he could invest that $14,400 to $19,200 a year for a dividend income of $720 to $960 a year which although not a lot is nice to have.

Then, imagine doing it year after year!

Gambling is like a drug.

This person is so hung up on the possibility of striking it rich and he has been doing this for so long that he is unable to quit for fear that all his previous "investment" would go to waste.




Chances of winning first prize in 4D is 1 in 10,000. 

Chances of winning first prize in Toto is 1 in 8,145,060!

How are the odds more attractive compared to a sure win of $14,000 to $19,200 per year?

Of course, let us not forget the possibility of a dividend income if the money was invested.

Well, he must think I am mental. Many patients in Buangkok Green share his view, I am sure.




"rationalizing foolish conduct, based on your subconscious tendency to serve yourself, is a terrible way to think." 
- Charlie Munger.

Update: 27 July 16

Matthew Seah:

TOTO now got more numbers to choose from..

Click to enlarge and be stunned like vegetable!

Related post:
Investing in stocks makes you a gambler.

Forced selling due to financial hardship.

Vin Diesel, Michelle Rodrigeuz and Gina Carano amazed by the crazy car prices in Singapore!
"Is the moral of the story don't buy cars in Singapore?"

UPDATE (December 2016):
Someone was telling me how it is really tough to make ends meet in Singapore. He was rattling off what sounded like a well rehearsed list but when he said "petrol prices went up", I went:

"You are having trouble making ends meet and you have a car?"

I guess I might have sounded a bit rude. It wasn't by intention. Really. He gave me a dirty look... Anyway...
-----------------------
In recent months, I felt an air of caution and some might even say pessimism in the economy. 

Maybe, it is just me but my observations tell me that maybe the economy is not humming along so nicely.

Are hard times around the corner?

What can we learn from this recent ad to sell a BMW car?

Being financially prudent will help us to become more secure financially. Then, we wouldn't have to fear hard times (as much). 

Although we would not wish for it to happen, hard times could descend upon us quite suddenly. When it does happen, we want it to be good for us.

Be prudent with our expenses and, very importantly, don't fund our consumption with debt.

“When you combine ignorance and leverage, you get some pretty interesting results.” Warren Buffett.

Related posts:
1. Come out on top of a recession (Part 1)
2. Come out on top of a recession (Part 2)
3. A car loan is different from a home loan.
4. From rich to broke?
5. Wage slaves should be fearful.
6. The evil instalment schemes and their minions.