Inheritance/Lottery: How to guarantee lottery winnings

A great way to make a lot of money and fast is to inherit it, win the lottery, or win both showcases on the Price is Right. Unfortunately, most of those scenarios will never happen during your lifetime.

What are the chances of getting free money?

Very slim. Lottery tickets are perhaps the worst investment you will ever make... even if it is fun. I know of many people who buy lottery tickets every week, some every day. If you're spending $1 a day on a lottery ticket that money adds up rather quickly. You'd be spending $365 a year which over an average lifetime can total $25,000 or more. If that same money is instead invested in an index fund or other moderate account you could instead accumulate over $250,000 in your lifetime. So what's the best way to win the lottery? Invest your money in something else.

The same can be said for other ways of getting rich really quick. You probably know several people who have squabbled over an inheritance, not getting what they felt the needed or deserved. That can easily happen to you. Don't count on anything and you won't be disappointed.

Other get rich quick schemes including: mailings at home, short selling or other stock market tricks, and pyramid schemes rarely, if ever, work. If you want to accumulate wealth you're going to have to work for it.