Wednesday, July 27, 2016

Ghetto Millionaire by Amasing | COGNITIVE DRIFT

Ghetto Millionaire

We have all heard the horror stories of people who win the lottery and within a few years, wind up broke.

This isn’t the story of Ted Williams (aka man with the golden voice) story either!

Which by the way, he is unfortunately battling his own demons called — alcohol.

No, this is a story of a ghetto millionaire who tried to make an investment with his money so he can live the lap of luxury like all millionaires do. After all, accountants will tell you to invest your money to receive long term residuals and have a check coming in either once a month or at least once a year.

This ghetto millionaire is Ronnie Music Jr.; a man who has won 3 million dollars from a scratch off ticket and invested in meth as his retirement fund.

Authorities don’t know how much of the $3 million dollars he invested with the lottery winnings but Mr. Music believed it was worth the investment. Authorities seized $1.5 million street value of meth, firearms, ammunition, multiple cars, and about $600,000 in cash.

I sort of have sympathy for Mr. Music. I mean, here is a man that was trying to build for his future but he just happened to make the wrong investments.

That my friends, is what I call a ghetto millionaire! This might sound snobbish but wealth is something that needs to be acquired and conditioned. When you receive a large amount of money and you were never wealthy to begin with, you tend to spend it without knowing the consequences.

Here is some financial advice if you win the “big” lottery: if you’re not too old, don’t take the one lump sum. If you’re old, fuck it, you’re going to die anyway so take the lump sum. If you’re young, take the annual installment.

For two reasons: one, if you love money, the installment actually will give you more money than the lump sum. Two, even if you are a big fuck up and can’t manage money, you will still get a check at the end of the year.

Knowing my addictive personality, I better take the installment because even if I blew…blow my money, I’ll just have to live in a cardboard box until I get my next check. Don’t be a ghetto millionaire! — Amasing | COGNITIVE DRIFT

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