Chances of winning

The news that the biggest EuroMillions jackpot of €185million was won by a British couple Colin and Chris Weir may tempt others to believe that they too can win the jackpot. Certainly €185million is a lot of money to win and I have to say that I have a number of concerns about anyone winning (or inheriting) very large sums suddenly. Whilst the attraction of great wealth is something that appeals to most of us, as we all know, money can be very divisive. I wonder how many well-wishers and friends are truly able to cope with such dramatic changes in "fortune". It would seem that this is something that Bill and Melinda Gates also have concerns over and have plans to gift most of their wealth to charity rather than their children. I believe the same is true of Warren Buffet who plans to give away 99% of his personal wealth. 

The chances of winning the main UK lottery are apparently 14million-to-1. That is a very small chance. In investment terms any financial adviser suggesting that you will lose all of your capital in 13,999,999 occasions out of 14,000,000 would probably not attract many clients. So rather than listen to those that wish to make their fortune, perhaps time should be spent listening to those that have. Here is probably the world's most successful investor Warren Buffet.