Hit the Jackpot and Lose it All
You’ve likely heard the phrase “Lucky Powerball Winner.” With six out of ten big winners bankrupt within five years, that luck might be bad.
Brad Duke, knew the statistics and that’s not what he wanted to become. In 2005, Brad put the Powerball ticket he bought in visor of his rental car and didn’t think anything about it. He was a regular Powerball player.
Later, he had to get fuel so he brought the ticket into the station to check the numbers. When the lady behind the counter scanned the ticket, she immediately started making weird noises and jumping up and down.
Brad snatched the ticket out of her hand and got out of there.
Brad did not tell anyone for a few weeks. He continued with his daily work routine so he could decide what to do. He finally told his father and they sat on if for a few more weeks.
He did not want the emotion of this life changing event to cloud his decision making. Brad said, “One of the goals that I had put out there for myself after this was try and make the most of this opportunity and not squander the gift that's been given to me and try to grow it something I can leave behind, leave a legacy behind.”
He even drove the same used car for three more years.
By setting the emotions aside (as much as he could) and focusing on the numbers and his goals, Brad was able to squeeze the most value out of this gift. His goal is to turn the $86 million prize (after taxes) into more than $1 billion for his charity, and he is well on his way.
Brad understood that the key to his emotions was also the key to his wallet. This is especially true in Real Estate.
Don’t let your emotions cause you to make a critical mistake or pay too much.
Hit reply, so we can help you focus on the things that matter most.
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