Gambling Responsibly
Gambling Responsibly!
That is an interesting term. You might want to understand I’ve never put a penny in a slot machine. I’ve gone to Monte Carlo to some of the most famous casinos in the world that I had to pay $100 just to walk into, but I never spent a penny on gambling. I worked too hard for my money to gamble! Of course, this is going to ruffle a couple of feathers because some of you do gamble.
My question is, can you afford it? The vast majority of people do not have excess money. They do not reach their retirement goals. They do not retire when they want to, with how much they want. So why are they gambling?
Most people cannot afford to gamble because it keeps them from reaching their goals.
- Eating
- Housing
- Taking care of family
- Taking care of the community
- Taking care of those who are less fortunate
But the government, with my money, is spending dollars on advertising to get you to gamble. But do it responsibly! Don’t do it if you can’t afford it! If you’re addicted, here’s a helpline! Really?
God made us emotional animals. One of those emotions is to think that we are going to beat the house. And a few do. But most people lose. Many people who are gambling really have better things to do with their money. I suppose I could get into the fact that people need a purpose in life, something that’s more important than themselves. But that’s another conversation, another blog.
I would suggest that for most people reading this blog, you should not gamble. You should put your money to work for yourself, your goals, those you love, or your community. Yes, if you have a gambling addiction, you should get help. But it saddens me that the state and federal governments are spending money to help people gamble with dollars they cannot afford. Then they act self-righteous and put ads out there saying don’t do it if you can’t afford it. We are weak human beings. That’s like putting my favorite food in front of me and saying don’t eat it. I am weak. I try not to sit around my favorite food all day long. I would soon weigh 300 pounds.
Our government is putting gambling in front of human beings who are weak and subconsciously believe they might win. And they might! But the chances are so low that it makes no sense to throw our money at gambling.
There have to be things in nature, family, or community that would be more important and entertaining than throwing our money into a system that wastes it. Governments are slothful with their budgets and the money they have control of. Don’t put your personal budget at risk and help their budget, which most of us don’t believe in. I’ve spent my career trying to help people be prudent with their money. Gambling is not prudent! So, the next time you hear an ad about the lottery or gambling or how you should do it.
You should not!
I hope you can laugh at that ad and think about how much smarter you are with your money than gambling and supporting the government or, worse yet, I think, the gambling house!
Next time you’re tempted to gamble, ask yourself three questions:
- Is this getting me closer or further from my financial goals?
- Is this increasing or decreasing the risk of financial failure in my plan?
- Am I doing this because I’m emotional or not?
Sincerely,
WAYNE VON BORSTEL, CFP®, CKA®, MSFS, ChFC®, CLU®
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.
