We Hit the Jackpot!

Hi Scott,

This month, my husband and I will finally be debt free! We owe nothing (though we also own nothing). My hubby used to have an addiction to gambling and a $120,000 debt on credit cards. We have spent the past five years paying every last cent off, while having three children under five, and I’ve also been studying at uni. My question is: moving forward, how can we make the best decisions to create wealth, and is trading shares just a form of gambling?

Kylie

Hi Kylie,

What a truly amazing all-of-family feat.

The fact that you guys bunkered down and paid off all your debts tells me a lot about the people you really are.

Know this: done right, investing isn’t the same as gambling.

You’re saving so you can provide for your family’s long-term security.

That is the polar opposite of gambling.

My advice?

Invest — but do it via your boring-as-hell low-cost super fund. Do it via a regular, automatic direct debit. Never look at the balance. Only check it once a year when your statement comes in the post.

And keep repeating to yourself: I’m not gambling … I’m providing a better future for my family.

You Got This!

Scott