In these days of financial uncertainty it is increasingly unlikely that anyone will be able to maintain a "job for life" with the benefits and security that brings. Everybody need to make their own financial arrangements to take care of their future prosperity. We can no longer rely on big business or the government to look after our interests. We must take action ourselves.
It is time for everybody to think about starting up their own business, full time or part time, and there are so many opportunities available. There are many stories of people making money from property. Money can be made on-line by selling goods from a web-site. It is possible to make money from the stock exchange or other investments. Whatever you choose, you must be very careful, you must make sure you have researched the area thoroughly and know your facts. You need to be a sophisticated investor i.e. an investor who assesses and manages risk.
Everybody should try to increase their financial intelligence so they are in a position to let money work for them. I do not distinguish between traditional forms of investment like the stock market and bookmakers, casinos etc. In fact, the current financial difficulties have all been caused by the mistakes and ineptitude of traditional bankers and investors who have shown themselves to be anything but sophisticated.
Bookmakers and casino owners are extremely sophisticated and would never have got themselves (or the world economy) into such a financial mess.
Consider the UK National Lottery (or Lotto) which is one of the most popular lotteries in the world and it involves 6 numbers, plus a bonus, being drawn at random. You can win £10 for matching any 3 numbers and the odds for this are about 57 to 1. The odds are about 1000 to 1 to get 4 numbers right, 56000 to 1 to get 5 numbers right, 2.3 million to 1 to get 5 numbers plus the bonus and 14 million to 1 to get all 6 numbers for the jackpot.
A sophisticated investor would not play the UK National Lottery to make money because the odds are too great. It would be investment based upon hope and this amounts to wishful thinking. However 28% of the money generated by the lottery goes to so called "good causes." I very much recommend that everybody supports "good causes" because there is more to life than money and success should not be defined in purely financial terms.
Gambling is based on the law of averages and bookmakers use statistical methods to gain an advantage. A sophisticated investor can do the same by using and sticking to a system. There are many casino/betting systems available. They are usually based upon simple statistics and can be used to assess, quantify and manage risk. Be very careful though. Gambling is not for the unemployed and nobody should risk money they cannot afford to lose.
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