Why do we do that? All the money goes to very good places, right? Schools, non-profits, etc.? The odds of winning are slim to none, yet many still play with the hope of one day winning the jackpot. What would you do with it if you won?
I’ve had many a dream, many a conversation with several people…family members, friends, and co-workers and a majority tell me they would set aside a few million for interest income (2% on $10 million is $200,000 a year…That’s a pretty good income) and loan (not give) a portion of the remainder to people at risk of losing their homes or deeply in debt for other reasons. I’m sure many of the winners out there are well-intentioned people yet we never hear those stories. Is it because they are so overwhelmed with their newfound wealth that they freeze and don’t know what to do? Is it because they are totally bombarded with phone calls, e-mails, and SPAM requesting donations to every charity, legitimate or not, on earth?
Admittedly they shouldn’t have to give away the reward for their persistence in buying the numbers every week, but what if they weren’t asked to DONATE or GIVE? How much good could be done if they simply LOANED a portion of the money to middle class Americans who need a break to get out of debt, then get the loan repaid in a similar fashion as an annuity? Do they really need to recoup the same interest as a bank or would it be better for the economy to contribute to restoring middle-class America to a position in which they could actually begin accumulating income instead of paying it out to banks in the form of interest?