Sweepstakes

I was just entering some sweepstakes. It's easy online. Some even take you to a list of other contests you can enter after you've entered the first one. You can submit as often as once a day on a lot of them. Of course, as I do this, I'm well aware that I'm just wasting my time--but it is, as a friend once said to my wife and me as he was buying a Megabucks ticket, "buying a ticket to a dream". The difference with a free online entry is: there's no monetary expense. I can spend a few minutes dreaming about what I'd do with the money, or the car, or the trip to Hawaii, and all I've invested is time.

I don't go so far as to subscribe to sites that keep you updated on new contests. That is reaching the point of obsession, I think...although if it entertains you, who am I to criticize? It's free entertainment.

A few years ago, when the local PowerBall was at an all-time high, we bought two tickets. We knew we were probably throwing away two bucks, but it gave us the chance to dream. If you've actually paid something for an entry, I think it's easier to imagine what winning might really be like.We decided that the mistake some winners make is just going crazy, spending money on everything they've ever wanted, and more. Then the novelty wears off, everyone's asking them for a donation, their life has no purpose and they get depressed. I think the answer is to become a philanthropist.

Say you win twenty million bucks. After taxes, you net around nine million. You splurge on $100,000 worth of stuff. You decide you want to quit your job and travel, so you set aside, say, $300,000 to spend per year, invested in pretty safe funds. If you figure you have twenty years to live, that's six million. Interest should more than cover the cost of inflation. Now you still have three million. This could be given away to charities, or it could be invested. What if you make it your job to invest that money so it generates more money, which can be doled out to charities and worthy causes for the rest of your life? If you make yourself a financial expert through studying, courses, whatever, you could probably give away more over time than if you gave it all away at once. This would give your life purpose, rather than just sitting around as a member of the nouveau idle rich. The lack of purpose is the downfall of big winners.

See? I was able to develop this whole theory and feel good about it, all because I spent a few minutes entering contests. It doesn't actually do anyone any good, because I don't have these millions to develop and donate, but it's free. And it does make the point that I should be the one to win, because I'm prepared. Hear that, oh gods of sweepstakes? I'm the guy.