Should investing be on the curriculum? Putting money into banks, businesses, properties and pensions is considered sensible. But not everyone chooses to do so.
Lottery winner reveals party life regrets
Wake up call: "It doesn't matter if you have a million, 100 million, a billion, a trillion," says scratch card winner Adam Lopez, "when you're in the back of an ambulance, none of it matters." Comprehension quiz
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Explain the meaning of the phrase “threw caution to the wind” as it is used to describe Adam Lopez’s reaction to winning the lottery.
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Which word is the closest synonym for “windfall”?
A: Illness
B: Unexpected gain of money
C: Debt
D: Job loss
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According to financial advisors Balance Wealth, what has happened in some cases to people who have won millions?
A: They have donated chunks of it to charity.
B: They have faced up to nine months of recovery after a blood clot.
C: They found themselves bankrupt a few years later.
D: They invested in a new brand of hot sauce.
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Which of the following is not mentioned as a potential way to invest or save money to preserve or grow wealth?
A: Putting money into a pension scheme.
B: Buying a National Lottery scratch card.
C: Investing in an ISA (savings account).
D: Investing in a new brand of hot sauce.
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What is a key difference between tax-free ISAs and other types of investments mentioned in the text?
A: ISAs have a value that grows over time, unlike other investments.
B: You do not pay tax on the interest earned in an ISA, whereas you might with other investments.
C: ISAs are only for old age, while other investments are for immediate profit.
D: You can invest in a house using an ISA, but not with other investment types.
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The text mentions that investing can raise ethical concerns, such as potentially funding companies engaged in immoral activities and investors making money “for nothing”. If you were Adam Lopez, how would you balance the desire to preserve your wealth through investment with these ethical concerns, and why?
Answers
Tap to reveal
1: He acted recklessly or without worrying about the potential risks or consequences., 2: B, 3: C, 4: B, 5: B, 6: Your view!
1: He acted recklessly or without worrying about the potential risks or consequences., 2: B, 3: C, 4: B, 5: B, 6: Your view!
Glossary
Pulmonary Embolism - A serious medical condition that occurs when a blood clot, or other obstruction, gets lodged in an artery in the lungs, blocking blood flow.
Red Cross - An international organisation that provides humanitarian aid to people suffering from disasters like war, floods, or disease.
Malnutrition - Poor nutrition — caused by not having enough to eat or not having the right foods.
Bankrupt - Unable to pay one's debt.
Mortgage - A loan, often from a bank, that enables someone to buy a property.
Crypto Currency - A type of digital currency that allows people to make payments directly to each other through an online system.
Ethical - Relating to moral principles.
Immoral - Outside of what most people in society think is right and fair.