Risk taking

[martinw-48]

I'm not a gambler.
I don't buy Lotto tickets.
Cham recently said that those who own their home could take out a line of credit to capatilise on the current market.
As someone who has failed at everything they've attempted except for achieving home ownership I feel it would be stupid to risk my one success to achieve something that doesn't drive me anyway, gaining money.
More money would be great but I have more money now I'm not paying for the roof over my head.
My girlfriend spends $100 a fortnight on Lotto.
I know she's had two big wins totalling fifteen thousand but in the ten years I've known her that's cost twenty six thousand.
In my mind I'm eleven thousand in front

[icyfroth]

Anyway. I won $18.00 in last week's Powerball.

[martinw-48]

Brer, I've been getting by on a low income since '93.
My house is worth very little.
Purchase price was twenty thousand.

[the_great_she_elephant]

I was supposed to win $15,000 in a raffle yesterday, but somehow they must have overlooked my ticket. 

Mr. Elephant and I own our own home and there's no way in the world either of us would consider usng it as colateral on a loan to play the stock market.

[icyfroth]

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@the_great_she_elephant wrote:

I was supposed to win $15,000 in a raffle yesterday, but somehow they must have overlooked my ticket. 

Mr. Elephant and I own our own home and there's no way in the world either of us would consider usng it as colateral on a loan to play the stock market.

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Totally agree. Neither would I.

There's enough homeless ppl living on the streets, or in their cars thank you very much!

[debra9275]

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@martinw-48 wrote:
I'm not a gambler.
I don't buy Lotto tickets.
Cham recently said that those who own their home could take out a line of credit to capatilise on the current market.
As someone who has failed at everything they've attempted except for achieving home ownership I feel it would be stupid to risk my one success to achieve something that doesn't drive me anyway, gaining money.
More money would be great but I have more money now I'm not paying for the roof over my head.
My girlfriend spends $100 a fortnight on Lotto.
I know she's had two big wins totalling fifteen thousand but in the ten years I've known her that's cost twenty six thousand.
In my mind I'm eleven thousand in front

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we  have an "open line of credit" against our house... we took it out years ago in case we saw another property we wanted to buy, but instead I used it investing in shares....   most of the shares I've sold.. ( we still have some left) and  we still have a very small loan on that account...  but i wouldn't recommend it to everybody as the banks charge a much higher interest on these loans

reverse mortgages are probably OK as long as you don't intend to pass your house onto children... as ultimately the bank will own  your house ( to the extent of the money you've borrowed against it in a reverse mortgage), 

[kopenhagen5]

A bird in the hand.................................

[lionrose.7]

I bought a $30 ticket this week because powerball was $50 MIL

I only get a ticket now if it is a big one.

2 people won, not me 😞

[shoppingbag*]

My rule is to never ever risk the roof over your head. I believe in Murphy's Law (whatever can go wrong, will go wrong) It is a wonderful secure feeling to own your own home. Most get rich quick schemes are high risk or scams and even if not, why risk your most important asset?

[kopenhagen5]

I didn't win either lion...............................but I guess I need to buy a ticket. 

Then again I won $20 by not buying one. 

[martinw-48]

Same here kopes