We won the lottery
Appreciating what we have while dreaming of the Powerball billion
My husband and I were deeply immersed in a mix of 80’s pop hits on Spotify when we spotted the billboard on the highway. It was for the Powerball lottery. The digital number had been updated to $1B. It is an inconceivable number.
First we had the usual discussion. How much would that really be after taxes? Would we take the lump sum or receive the payments over time? How would we tell people? Or would we keep it a secret and just quietly invest and anonymously donate some of the money? Stealth winners.
We did both agree that we would stop working for pay. In other words, retirement would come early. As in now.
Then he asked me if I thought it would change where we wanted to live in retirement. We had already started thinking about where we might want a second home, and whether we would also remain in New York City where we currently live. He paused. And then he said he did not think we would not change that. I agreed. We liked our plan. We were good.
Would we buy a nicer house? Sure. Would we be less stressed about money? 100 percent. And yes, we really would try to find projects that improved our world.
But then I started thinking about something my father always says. “Remember, you already won the lottery just by being born here.”
Odds are if you are reading this, on a digital device, in the comfort of your home, car, or somewhere else relatively comfortable, you won the lottery too. Whether you were born in the U.S. or found your way here, odds are you are a lot better off in terms of economic opportunity than those who were born into less fortunate circumstances. Had my family not come here from Eastern Europe three generations ago, we might be on one side or the other of the war in Ukraine. Our first-world lives are priceless. My dad is right: we won the lottery.
To this day, one of our biggest challenges as a country is that more people want to come here for economic opportunity. I’ll bet my Powerball winnings everyone reading this is better off than a mother who leaves her country with nothing and walks with her children for a month, risking her life in the hopes of just crossing the U.S. border. That’s not to say we don’t have substantial economic disparities here, and that we don’t need some serious reforms. But most of us have a lot even if we don’t win the Powerball lottery.
But just in case one of us DOES win... I had fun chatting with Cheddar’s Kristen Scholer about how to handle a big influx of money. Full disclosure: It was my first time down at the NYSE since the pandemic and it was a little surreal. Things have changed. I was a bit nervous but got through it without a total brain freeze (always a fear on live TV!)
Watch the segment and let me know how I did!
While we are on the topic of opportunity here in the U.S. - let’s get honest about economic trends that don’t hit all of us equally- but do hit us all.
After you read the highlight below, be sure to click the button and read the entire piece. It has some great insights and may have you questioning your assumptions.
On the podcast:
Have you ever loved a job so much that you would literally do it for free? You should not even if you can afford to! Truth: I loved my first job so much at CNBC that I probably would have done it for free (no worries: they did pay me including full benefits). Author and former Mommy Blogger Estelle Erasmus shows us how we can stand up for ourselves and get paid.
Do you love the freedom of renting and not being tied down? Do you embrace Rent the Runway and not owning a car? What Carol Roth has to say in previewing her new book “You Will Own Nothing” will have you thinking twice about how the popularity of not owning things is changing our world.
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That way everyone can all have a better workday.
Which leads to a better life for you and those you care about even when you are not at work.
Barbie on your mind? She is DEFINITELY a financial grownup. She has all the best careers including being an entrepreneur, owns her own home and car, and given all the social events she has, I am betting Barbie is an incredible connector and supporter of women.
Learn more about what it takes to be a financial grownup- and how you can launch one as well. Because we are all in this together.
Pick up a copy of my book “Launching Financial Grownups: Live Your Richest Life While Helping Your (Almost) Adult Kids Become Everyday Money Smart.”
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Thank you!
What an inspiring read 🙏🏼