Forget lotto – make your own money

Forget lotto – make your own money

Posted on Tuesday, November 06 2012 at 11:37 AM

Millions of people are rushing to buy lotto tickets for the big $100 million draw.

Just as many are
punting on horses for the race that stops the nation, the Melbourne Cup. While
having a punt is always good fun and in the case of the Melbourne Cup, one of
the biggest events on the calendar, have you ever considered securing – rather
than betting – on your financial future?

John Lindeman of
Property Power Partners says one bet you can make, where everyone is a winner,
is to invest in property.

“If you’re going
to invest in your future, housing or property is the most secure form of
investing there is, better than shares or commodities,” he says.

“The reason is
everybody needs a place to live, it’s not something you can do without.”

Gavin Hegney of
Hegney Property Group says he was shocked to hear an owner of a local
newsagency in Perth recently told him many customers were spending $150 per
week on lotto.

“That’s $7500 per
year. Why wouldn’t you save that for three years and including interest, that’s
$25,000 plus,” Hegney says.

“While one person
builds their financial future over a 15 to 20-year period, what’s actually the
chance of winning lotto if you go in it every week for 15 to 20 years? When you
add it all up, it could be the price of a basic investment plan or a basic
savings plan, which would have surety of return, rather than the hope of
returning a win. There’s no guarantee, so the only sure bet is to save and

In fact, Hegney
says six out of 10 lotto winners usually blow their money and end up in a worse
position, because everyone they know expects something for nothing.

However, Lindeman
emphasises it’s all good fun and in the case of the Melbourne Cup, having a
punt shouldn’t be considered too sinister.

And while
investing in a mining town is considered a risky gamble by many, Lindeman
believes the mining boom is also a relatively safe bet, depending on where you

He says towns
such as Mount Isa in Queensland and even the unlikely small New South Wales
town of Broken Hill are likely to boom.

“Mineral prices
for copper and silver have gone up, which means mines will be opening and
demand will continue.” 

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