I caught the tail end of a Dave Ramsey caller today. 25 year old took some massive risk and turned a small amount into $650,000. I think he was asking about buying a house.
Ramsey used the lottery ticket example and said something like you risked and won, big. Don’t expect it to happen again the same way. He recommended that he pay off his only debt, a truck and in a year or so buy a modest house for cash. Invest the rest and turn it into a few million in the market. Good advice I think
The guy was fortunate, but most people don’t end up that well.
Paying cash for things and owning them is the best bet.
Then, if/when TSHTF, you have what you own.