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Legal and General Interest Personal Injury Blog

Warren Buffet, March Madness and financial responsibility

Warren Buffet can breath easier as his offer to pay a billion dollars to anyone who has a perfect bracket for the college basketball tournament is already moot. That’s right, his pool (reported to be 15,000 deep) of “bracketeers” has no one remaining without at least one loss. Again, proving that this man has great insight and simply knows how to play the odds. That should come as no surprise to anybody that is familiar with his background and skillset. Nonetheless, it demonstrates the absolute futility to playing long odds when hoping for a big financial payoff. Please don’t get me wrong, you need to be “in it, to win it”. But, spitting in the eye of the odds is no way to plan for the future. With that stated, many of us utilize a similar method, but significantly less risky one in planning for our retirement. Investing in 401(k) plans and direct investment in the stock market is a form of gambling, but one for which there is a track record for growth for the most part. Nonetheless, as has occurred, there are occasions when the bottom drops out and significant variations of loss have occurred. The key is to carefully review all of your options and then make a calculated and thoughtful determination. With this in mind, it makes sense to take the $1-20 spent regularly on lotteries and put it into a investment for the future. You will be amazed how quickly this money may grow.

A quick disclaimer to modify my comments above. I am not an investment expert or analyst and these comments contain opinion and not investment recommendation. Always, confer with an expert in the field of investing before committing your hard earned money in the stock market, or other forms of investment. Best of luck.  (3.22.14)



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