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One In Four People Rely On Lottery For Financial Success

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One in four people rely on lottery for financial success

One in four Brits think a lottery win is the best chance to improve their financial situation.

According to a survey by the Institute of Financial Planning, just one in 20 people will seek professional help to improve their finances, but five times that number will continue to bank on a 14 million to one lottery win.

When it comes to improving their financial situation found that two out of five people recognised the need to save more and reduce debt, while only five per cent plan to get the advice of a professional.

IFP chief executive Nick Cann says: "The results of our 2009 Survey reflect the fact that many continue to ‘bury their head in the sand' by ignoring financial problems in the hope that they go away. Only one in five are currently satisfied with their financial position - suggesting 80 per cent of the population should be looking for help, but either decide to do nothing about it or rely on a lottery win which is unlikely in the extreme."

This survey marks the start of Financial Planning Week, a not-for-profit programme run by the IFP, aimed at helping people identify their goals in life and work out how to plan their finances in the most effective way.

The IFP found that in 2008, 85 per cent of respondents reported that they had identified their financial priorities and goals and were making appropriate plans to achieve them. In 2009 this number has reduced to 68 per cent.

Cann says: "There seems to be a myth that financial planning is just for the wealthy or that professional help is expensive, which is why the IFP runs the Financial Planning Week initiative each year.â€

What is most apparent with this article is that a large percentage of British citizens are unwilling or unable to work hard to succeed. Property flipping falls under the same banner IMO.

It's a pretty grim looking future if just now, only 1.5 years into the recession/depression, with the property market falling to pieces, the open market under dictatorial rule from Goldmans et al, that 25% of us need a lottery win to have any hope of a self reliant future.

Max Keisers’ analogy of the modern world being a global casino gulag is spot on.

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One in four Brits think a lottery win is the best chance to improve their financial situation.

Depending upon their age, health and abilities it really might be!

Also depends what you mean by "improve". Hard work might get you a £30k pa job instead of a £15k pa job, but it can't always make you a millionaire.

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it dose make me laugh, the amount of people who rely on gambling and long shots to give them some financial security.

my motto is, if you cant afford to loose it dont gamble it. i play Poker, roulette, black jack etc down the casino, because i enjoy it, i do want ot win money, but i dont pin my next x number of meals etc on winning. i do it for enjoyment (and not that often)

i do play the lottery, 3 lines a week, through their online thing, all done automacitally, i do wish to win it, and have fantasised on willing 10's of millions, but i dont bet on it actually happening. i work hard etc. a large win from gablinging probably wont happen, but as they say "got to be in it to win it"

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What is most apparent with this article is that a large percentage of British citizens are unwilling or unable to work hard to succeed. Property flipping falls under the same banner IMO.

I don't think you can draw that conclusion from this article. "One in four more willing to take a £1 a week punt on the lottery just in case; only one in 20 willing to pay "financial planning professionals" for advice after 20 years of mis-selling experience" is more accurate. Sounds perfectly sensible to me.

Title is misleading - there's nothing in the data to say that people "rely" on a Lottery win at all.

Edited by RentingForever

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I don't think you can draw that conclusion from this article. "One in four more willing to take a £1 a week punt on the lottery just in case; only one in 20 willing to pay "financial planning professionals" for advice after 20 years of mis-selling experience" is more accurate. Sounds perfectly sensible to me.

Title is misleading - there's nothing in the data to say that people "rely" on a Lottery win at all.

indeed - I think the financial advice/selling/stock broking industry is a disgrace - just another gravy train for semi-talented b*llshitters, and needs reform

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Depending upon their age, health and abilities it really might be!

Also depends what you mean by "improve". Hard work might get you a £30k pa job instead of a £15k pa job, but it can't always make you a millionaire.

Quite.

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One in four people rely on lottery for financial success

What is most apparent with this article is that a large percentage of British citizens are unwilling or unable to work hard to succeed. Property flipping falls under the same banner IMO.

It's a pretty grim looking future if just now, only 1.5 years into the recession/depression, with the property market falling to pieces, the open market under dictatorial rule from Goldmans et al, that 25% of us need a lottery win to have any hope of a self reliant future.

Max Keisers’ analogy of the modern world being a global casino gulag is spot on.

When the rewards are so much vaster and easier to acquire for gambling/speculating in the finance industry, housing, or other areas, you know which way people will go. More, I'd say you'd be dumb to work when the differential is as great as it is. Of course the "croupiers" in our economies require a workforce to provide them with wealth they can strip from us, and for themselves, but as more and more have wised up to this they have attempted to become croupiers as well. Thus there are less workers and more leeches until the system topples, which it is in the process of doing.

I also don't believe the croupier system is limited simply to the uk, and the usa. Look at the housing markets in canada and australia, or the stock market in china, or the oil speculation bubble last year. Over-financialization of everything is a worldwide problem, which wont go away until we have enough of a world-wide depression to wake the sheeple up. This is what happened in the 30's and is a necessary requirement for long lasting change for the future.

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Guest UK Debt Slave
Why work if you can win?

A lottery recovery?

I wince every time I see someone fill in a lottery ticket or buy a scratchcard

They are invariably poor looking people who should spend their money more wisely

How the government must laugh, creaming all that money off the poorest people to line the pockets of Camelot executives and to fund public works that they can't find the money for with conventional taxation.

The mind boggles at the utter stupidity of people....and the utter contempt government has for the people.

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Depending upon their age, health and abilities it really might be!

Also depends what you mean by "improve". Hard work might get you a £30k pa job instead of a £15k pa job, but it can't always make you a millionaire.

Exactly! This belief that "hard work will make it happen" is a real US disease. 99% of people who work hard are just "normal" and has so many times been pointed out before on this site - it's a real ying-yang thing. For me to succeed, someone else doesn't.

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Guest skullingtonjoe
I wince every time I see someone fill in a lottery ticket or buy a scratchcard

They are invariably poor looking people who should spend their money more wisely

How the government must laugh, creaming all that money off the poorest people to line the pockets of Camelot executives and to fund public works that they can't find the money for with conventional taxation.

The mind boggles at the utter stupidity of people....and the utter contempt government has for the people.

I suppose some people might say `well, someone`s got to win and we`ve all got an equal chance (allowing for the odd gambling syndicate etc).`

A more realistic view would perhaps be; `well, we`ve all got an equal chance of winning sod all.` The odds must be millions to one on average, so basing your financial well-being on such a long shot seems pretty mad! :blink:

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Exactly! This belief that "hard work will make it happen" is a real US disease. 99% of people who work hard are just "normal" and has so many times been pointed out before on this site - it's a real ying-yang thing. For me to succeed, someone else doesn't.

that's an absurd comment

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The mind boggles at the utter stupidity of people....and the utter contempt government has for the people.

The Churchill papers scam. 12 million

The royal opera house con. 78 million

& still the stupid buy a ticket. <_<

At my last place of work I refused to join their weekly clottery waste.

"What will you do if we win?" said the organiser concerned & bewildered that the new manager(ess) didn't want to know.

"You wont" said I

"Wont what?"

"Win" said I

"But we might!"

"No you wont.

Listen, have you ever been hit by a part of an aircraft falling from the sky?" (yes I know it's well known, but I gambled she hadn't heard it)

"What do you mean?!" (why do folk say that when they don't understand the question?)

"Kindly answer the question"

.................................

You can guess the rest.

They never did win anything more than a tenner IIRC; but you can guess who they blamed for their lack of success :)

..........................................................

Anyone remember who said at the start of it:- "The lottery is for ordinary people"?

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Depending upon their age, health and abilities it really might be!

Also depends what you mean by "improve". Hard work might get you a £30k pa job instead of a £15k pa job, but it can't always make you a millionaire.

Not much point being in the middle, too rich for housing benefit, too poor for a house.

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My cousin calls it "a tax on stupidity".

Don't know if you can still do this but three aways was me old Dad's favourite bet on the coupon. He told me that he only had one losing season out of twenty overall. Didn't pay great odds but a bit of fun and profitable. Not enough for most folks I guess. Demanded a bit of work as well which would rule out most people.

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what game am i playing?

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One in four people rely on lottery for financial success

What is most apparent with this article is that a large percentage of British citizens are unwilling or unable to work hard to succeed. Property flipping falls under the same banner IMO.

It's a pretty grim looking future if just now, only 1.5 years into the recession/depression, with the property market falling to pieces, the open market under dictatorial rule from Goldmans et al, that 25% of us need a lottery win to have any hope of a self reliant future.

Max Keisers’ analogy of the modern world being a global casino gulag is spot on.

Working hard will not propel you from the working class.

Even if you pump the prole up the slippy pole to management-class it's still just a prole in a merc, insecurely beavering away to collect monthly pay.

So the public are probably right. Only a lottery win (and one of those massive Euromillions multi-rollovers at that) will improve their situation and deliver them from slavery. A win on the UK lotto game would only just about put them in the lower middle class.

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Exactly! This belief that "hard work will make it happen" is a real US disease. 99% of people who work hard are just "normal" and has so many times been pointed out before on this site - it's a real ying-yang thing. For me to succeed, someone else doesn't.

Gotta to agree with Si1 you are putting forward a win/lose situation, what about win/win where the whole company/system /industry improves.

In terms of people working 'hard' many normal people (whatever that means) can't for whatever reason sustain long periods of hard work at a quality level. In my experience only about 10% of people know how to work really hard or have the stamina and personal relationships to give them the space to do it.

There are many people who think they work hard but wouldn't know what hit them if they really had to put it in.

But none of this without a large dose of luck will propel you out of the working class as Tob says.

Edited by Greg Bowman

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Better to find something you know more about than the average punter and bet on that. There's usually value for example in betting against England when they play a team of similar quality at football. Also betting against English sides in Champions League games. As always the bookies odds are the crucial factor in deciding to bet or not.

I've made good profit in rugby this year too, for example I took 13/1 on Celtic winning at Bradford, odds like that are just too tempting in a sport that a lot depends on how the players have been mis-treating their bodies the week before.

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what game am i playing?

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...

X factor of 10?

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