Sunday, October 19, 2008

Does A Lottery Million Scare You?






If you ever entered our household and listened to my wife and I talk, you could be forgiven for thinking we were from another planet.

We talk in a secret code.

Not just the familiar banter that people who have lived with each other for years have among themselves.

But a weird kind of abbreviation.

My wife would ask: "How much was the Mercedes servicing this time dear?"

"Seven eighty," I would reply non-committedly, as I continued to file my nails (more on that strange action in a minute!)

A few minutes later I would look up from the real estate section of the paper and exclaim: "I can't believe they want over two for that place. It doesn't even have a lift!"

"And look at this property - they want one point three for it."

And so it goes on. 

Have you guessed what we do? Yes, we abbreviate money terms.

"Seven eighty" is seven hundred and eighty dollars.
"Two" is two million dollars.
"One point three" is one million three hundred thousand dollars.

We do this to diminish the power of numbers so they don't scare us.

By abbreviating them.

It's quite common for moneyed folks to act in this way. 

I first heard of it several decades ago after a prominent real estate investor was interviewed. And he talked about reducing the power of numbers to scare him, by just talking bare figures and leaving out the "x million dollars"  description. 

"If I thought about the real impact of the amount as dollars," he was quoted as saying, "I wouldn't be brave enough to get out of bed each day."

What the abbreviation does is quite extraordinary. 

It removes the mental benchmarks we all have in our heads.

Like this...

Many folk on regular wages see their monthly or annual income as the largest amount they are familiar with. So that $40,000 becomes their mindset... the amount that represents a ceiling in their mental adjustment.

When it comes to buying house worth many time more than this benchmark, they become nervous.

With lotttery winnings, it's almost impossible to comprehend the impact of many tens or hundreds of millions of dollars will have on our lifestyle.

So we give up striving for it.

For you to move ahead financially - to stop getting paralyzed with fear every time you imagine spending millions of greenbacks in one shot - you need to disassociate yourself from the physical amount. 

Think of it merely as an abstract figure.

Then it won't be so scary.

Something else that's not too scary is this: how about fifty-seven off the Silver Lotto System for today? (Now you know what I'm talking about!)








Happy Winning!
Ken Silver

P.S. If you wonder why I file my nails, I play the classical guitar. And I've just finished an enjoyable half-hour of music before I'm about go down to my local lotto outlet to get my tickets checked. What are you doing right now? Worrying about your dead-end job starting tomorrow? You know what to do about it!

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