A small crazy investment could send your lottery win value soaring
What should you with your lottery jackpot winnings? Upgrading your home and car, sensibly, is one. Saving most of it in a savings or other interest bearing accounts is another. However, if you are the kind of person who really has an interest in new gadgets, odd ways of doing things, or just the weird or bizarre, you might want to think of investing your money, and this is money you can afford to never see again, in “crackpot” inventions and other odd things.
Is a Crazy Investment the Answer?
Think of it. Investing in a crazy idea might seem foolish, but sometimes the investment pays off big time. For instance, think about the Pet Rock It sounded like a very silly and stupid idea when it first came out in 1975. Who in their right mind would pay to buy a rock in a carboard box with “breathing holes.” A “pet” that you didn’t have to care for? Apparently over a one million people did. Had you invested in this crackpot idea, you would have a good bit of money.
Crackpot Successes
Anyone remember the Chia Pet. Another crackpot “pet” idea that sounded like another stupid idea. Yes a terracotta figurine that you cover in the enclosed chia seeds so when they sprout and grow, they resembled animal fur. And the silly catchphrase in the commercials, "Ch-ch-ch-chia!". Come on now! Would you really invest in that idea? Well if anyone did, they made money. The Chia Pet was a great seller and product icon. And they still sell today.
"Clap On! Clap Off! The Clapper!" A great little jingle touting a product that would turn on or off anything plugged into it just by clapping your hands. How lazy can you get and who would think it would sell? Well sell it did and make money as well. Any investor would have been delighted with the return on this odd idea. It is still parodied today in TV shows and movies, a statement to its lasting impression on consumers.
However, you can just as easily lose your investment if the product does not pan out. For instance, Google Glass was touted as glasses that record and transmit every you looked at. It was a virtual computer in front of your eyes. However, privacy and safety issues abounded and the product started to be banned in casinos, theatres, and while driving. Eventually Google Glass went away, along with investors’ money.
Oh yeah, New Coke. Let’s change a product that has been the same for a long long time. Big idea, bad move, maybe. Angry customers flooded Coke with nasty letters and not too nice comments. Coke then brought back the original drink labeled as Coca-Cola Classic. Hey, want to make some money with a new product? Apparently not. However, it is still being debated whether the introduction of New Coke was a failed new product, or a genius of advertising and marketing to renew consumer interest in the original product.
Investing some jackpot in crackpot ideas may or may not pay off as we have seen. Investing is gambling, and you could win or not win. But sometimes it’s impossible to know if a new product or idea is going to be a smash hit or fizzled fad in a fraction of time. If you have the opportunity to invest in a crackpot idea, do your research thoroughly and avail yourself of people and companies that do this sort of thing on a regular basis. Their advice might save you from being separated from a good chunk of your lottery winnings, or enable you to add more millions to your millions.