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An interesting statement to make news would be if the winner (if they couldn't claim it anonymously - I can in my state) would shortly thereafter declare in a press conference that they were moving to Iceland because they felt the money's value would be better protected in a country that prosecutes the Financial Fraud of the banking system!
The lottery is a different type of investment. Plenty of people do both. You will not likely become a multimillionaire from the stock market, though you may become affluent. Likewise the chances are you will get back about 50% of your lottery investment, but you have the longshot chance of becoming wealthy. Personally I only invest about a dollar a week.
I invest in the stock market and contribute to my IRA each year. In regards to the lottery I play the lottery when the prizes get HUGE here in California. I estimate that I spend about $25- $35 per year on the lottery. Not a lot. I don't do scratchers. I'd rather play slots when I visit Las Vegas a handful of times a year and go to the local Indian casino. At least I get free cocktails and most of the ladies bringing me my Rum and Cokes or Margaritas are easy on the eyes. Now that's an investment.
MegaMillion $400,000,000 this Friday No matter what the odds who can say a buck or two investment is no wworth it??
If you spend a dollar a day on the lottery, or 365 dollars a year... In 30 years you'd have 24,000 dollars at a 5% annualized return. Which is better than being out about 10,500 playing the lottery.
Sure, but I'm not going to sweat it in light of the $4k or so I already invest every month, and I bet most of us here are only occasional lottery players. I guarantee you that I spend more on lunch in a week than I do on the lottery in an entire year. Come on. You seem to think everybody here is digging for change in the couch cushions to pay the utility bill. That's simply not the case. And, yes, I bought a Mega Millions ticket this week. It's fun to dream.
Last edited by randomparent; 12-12-2013 at 10:37 AM..
If you spend a dollar a day on the lottery, or 365 dollars a year... In 30 years you'd have 24,000 dollars at a 5% annualized return. Which is better than being out about 10,500 playing the lottery.
For my dollar I can dream of buying businesses,an estate in the North Carolina mountains, an around the world cruise,maybe a Caribbean vacation . They are real pleasant thoughts. Thinking of making an annual profit of 5% on today's dollar just does not excite me. Oh by the way..In 30 years I will be over 100 y.o. and that is not a goal I would really want.
If you spend a dollar a day on the lottery, or 365 dollars a year... In 30 years you'd have 24,000 dollars at a 5% annualized return. Which is better than being out about 10,500 playing the lottery.
Ummmm......unless you win!
Lottery is drawn twice a week, even getting one ticket per draw for Powerball and MegaMillions it will only set you back $6 a week saving you $1560 in your above example.
For my dollar I can dream of buying businesses,an estate in the North Carolina mountains, an around the world cruise,maybe a Caribbean vacation . They are real pleasant thoughts. Thinking of making an annual profit of 5% on today's dollar just does not excite me. Oh by the way..In 30 years I will be over 100 y.o. and that is not a goal I would really want.
#1.....with 400mm you should not be buying businesses, you should be working on passive investments. Too many people kill businesses when they are funneling their own money into them (Curt Schilling! 50mm in saved baseball money thrown down the drain on a video game company!).
#2.....Investing in businesses is work, leaving less time for enjoying your wealth!
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#2.....Investing in businesses is work, leaving less time for enjoying your wealth!
I could provide good jobs to those I know and love. Beats continually giving handouts.
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