The Lottery Mindset


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Some people love to read stories about lottery winners. Those stories offer an escape from life; a little excursion where you can fantasize about becoming an instant millionaire.

But when you peel the onion, the fantasy about winning the lottery is all about instant gratification, instant rewards and instant wealth, without any of the hardship.

Winning the lottery means no effort, no hard work and no adversity.

If you have ever read any of those lottery-winner stories, one common thread is that hardly any of the winners are CEOs, senior executives, entrepreneurs, professionals or other successful types.


Because successful people do not have a lottery mindset.

What is the lottery mindset?

It is the idea that there is a shortcut to wealth; that it is possible to become instantly wealthy by virtue of good luck.

The problem is, those who have the lottery mindset are not living in reality. The lottery mindset is a fantasy that very few realize.

In the 25-year history of the Iowa Lottery, for example, only 110 people won $1 million or more. That equates to about 4 millionaire-lottery winners a year. In 2006, there were 50,529 millionaires in Iowa. If you do the math, only about .0079% of all Iowa millionaires are, therefore, lottery winners. Not a very promising path to wealth.

But this lottery mindset is not just about the lottery. It’s about embracing uneducated risk or speculating with your money.

The recent masses jumping on the bitcoin bandwagon, have a lottery mindset. Those who regularly gamble, have a lottery mindset. Those who invest in start-ups they know little to nothing about, have a lottery mindset.

The lottery mindset brainwashes you into believing that there is an easier path towards wealth. One in which you are not required to do the heavy lifting, almost all success requires.

Those who embrace the lottery mindset do not pursue their dreams. They do not set goals. They do not step outside their comfort zone. They do not engage in self-improvement which results in expert knowledge or expert skills. Knowledge and skills which transforms you into a virtuoso at what you do, thus leading to success and wealth.

Those with a lottery mindset also do not understand the true path towards success.

What is the true path towards success?

Success requires work. Success requires effort. Success requires sacrifice. Success requires daily self-improvement. Success requires deliberate practice. Success requires relentless persistence.

But, ultimately, success requires adopting habits that lead to success. And those habits are always learned. They are learned either the easy way or the hard way.

They easy way is through success mentors. Success mentors teach you what to do and what not to do. They help smooth out the potholes along your chosen path. They help you avoid mistakes that can cost you time and money. They help you avoid failure. They help open doors that are closed to everyone else. They help direct you and guide you every step of the way, along your steady march towards success.

The hard way is in the white hot fires of grinding it out, reading to learn, daily practice, adversity, experimentation, mistakes and overcoming obstacles.

Those little things, my Rich Habits, are the byproduct of figuring out what to do and what not to do.

There are no shortcuts in life to accumulating wealth and realizing success. That’s the real secret to becoming rich, if there is one.

The lottery mindset is a dead end, a fantasy. It’s a cop-out for those who are simply unwilling to find success mentors or unwilling to do the heavy lifting success requires.


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Thomas C. Corley About Thomas C. Corley

Tom Corley is a bestselling author, speaker, and media contributor for Business Insider, CNBC and a few other national media outlets.

His Rich Habits research has been read, viewed or heard by over 50 million people in 25 countries around the world.

Besides being an author, Tom is also a CPA, CFP, holds a master’s degree in taxation and is President of Cerefice and Company, a CPA firm in New Jersey.
Phone Number: 732-382-3800 Ext. 103.
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  1. Have to say that it’s a good article. Bitcoin give you the glance of dreaming in great figures, maybe they trully change finances to everyone.

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