Do you play lottery every week(month)?

[rc5]

I spend $30 per month on lottery.
Tiny investment may turn out to be big gain.
And that helps the charity.

 

[daveman]

We don't have the lottery in my state, but my father in law rides up to Virginia once a month and gets us $10.00 worth a month. I hasn't paid off yet.

 

[gittyup]

Never play..

 

[Shmorq]

I only play it when the pot grows huge and all my co-workers pool together and get a lot of tickets.

 

[iamwiz82]

i only play when the pot is massive.

 

[rmeijer]

Check out this story about a winning lottery ticket:

Lottery Ticket for $46M sent in Mail

 

[VoiceOfDissent]

$30/month on lottery?

Here's some numbers to consider:

$30/month into low-fee, dividend-reinvestment index fund (11% per year long term yeild, no day trading here):

$30 per month at 11% per year (disregarding tax but adjusting for 3% inflation)--
10 years = $5,418
20 years = $17,168
30 years = $42,652
40 years = $97,922
50 years = $217,796

Now here's a tiny investment that isn't just a "may turn out to be a big gain."

If you're scared of the stock market, then here's the numbers for a Roth IRA (assume 6% average), which you don't have to pay any taxes on when you cash it out by the way:
$30 per month, 6%, no taxes taken from withdrawal, assume 3% inflation
10 years = $4,173 today's dollars
20 years = $9,756
30 years = $17,223
40 years = $27,211
50 years = $40,572
This is guaranteed cash in your pocket, tax exempt withdrawal.

Lotteries are for fun, not profit. I can think of cheaper entertainments.

 

[rc5]

yeah, but I don't smoke, don't drink, drive cheap car, live in a cheap apartment. That saves a lot of money already.

 

[rudder]

I used to play until this happened to me.

 

[rudder]

UPDATE: damn post office: lottery ticket arrives.

Thans Rmeijer. Didn't see your post. Obviously I am quite upset at the moment. Damn post office. I should have drove the ticket there myself.

 

[rc5]

Why must the government take 50% of what you win?

That sucks a lot.

 

[Total Refected Power]

Not at all. But my father-in-law is addicted. When he comes to visit the first thing he has to do is "put his numbers in". And we live in different states!!!!!!! It's really weird because he needs to do this before he "settles in" for a visit.

 

[VoiceOfDissent]

<< Why must the government take 50% of what you win?

That sucks a lot. >>



So they can say &quot;our lottery has a (insert number) payout which is very fair&quot; although in actuality the payout is less than half that (and would be illegal for a vegas casino to set payouts as). It's okay for the government to fleece the citizens though.

I don't actually have a problem with lotteries (legalize everything and tax it I say). My problem is with people who buy a ton of lottery tickets then complain years down the road when they can't afford to retire (and expect the rest of us to support them). The lottery is not a retirement program; it's a nonessential, disposable commodity.

If you want to buy tickets, and you can actually afford it, go ahead. It's people who can't afford it but spend themselves into bankrupty anyway who really peeve me.

 

[dreben]

I spend about 10 bucks a month. Hey, you never know.......

 

[GoldenTiger]

I barely ever play...

 

[slunk]

I play whenever it edges past $20 million here in Texas.