| I'm going to win the Lottery |
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payment proof
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| I'm going to win the Lottery |
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It amazes me how many people think they're going to fund their retirement by winning the lottery. Or those saying that's the only way they would be able to fund it.
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Sun Apr 24, 2011 6:24 pm |
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littleroc02us
Moderator
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| Re: I'm going to win the Lottery |
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quote:
Originally posted by payment proof
It amazes me how many people think they're going to fund their retirement by winning the lottery. Or those saying that's the only way they would be able to fund it.
Luckily that isn't my problem in the sense that I'll be living my own retirement between my cabin in Minnesota and my place in Arizona because I worked at saving and investing for retirement using the slow and steady method, while this person is 72 and still waiting on the lottery while working at Walmart. Plus I'm sure my tax dollars bill be supporting this persons Medicare and Social Security to help support their living expenses.
Romans 13:8 “Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.”
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Mon Apr 25, 2011 1:30 pm |
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LottomagicZ4941
Senior Member
Cash: $ 5.71
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Location: Earth
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| Re: I'm going to win the Lottery |
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quote:
Originally posted by payment proof
It amazes me how many people think they're going to fund their retirement by winning the lottery. Or those saying that's the only way they would be able to fund it.
40% play the lotto. Think most know it's a long shot. Upside potential is great. When did people start to retire? Was it the bosses idea?
What is the actual history of retirement?
I have told the story of my first 401 contribution. I went for the max thinking when my car died I would reduce my contribution to fund a car. But instead of taking a hit my take home went up!!!!!!!
In a way joining my 401K was like having a small lotto win each and every pay check!!!!!!
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Thu Jun 16, 2011 4:10 am |
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jdk1970
New Member
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Joined: 20 Jun 2011
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| Lotto? |
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While some people are foolish about retirement, it is a fact that it's getting hard to save sufficiently for a comfortable retirement.
Portland Financial Advisor
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Mon Jun 20, 2011 11:28 pm |
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oldguy
Senior Member
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quote:
it is a fact that it's getting hard to save sufficiently for a comfortable retirement.
In my experience the opposite is true. When I got out of college, there were no 401ks, no IRAs, no Roth accounts, no deferred taxes. And no online brokers, no discount brokers, no index funds, no ETFs. If you wanted to invest, you drove to a full-service brokerage, opened an account, selected a few stocks, wrote a check - and paid a HIGH commission.
Later, after the 401ks, IRAs, Roths were invented, you simply had the $16,500/yr deducted from your salary and placed into a index fund, no fees. Plus you got a $4000 or $5000 tax break, and maybe a $3000 company 'match'. So, with the match, $19,500 was added to your account and your out-of-pocket cost was only $11,500. Geeeez, how easy do you want it, LOL. It only takes about 15 to 20 years to make a million.
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Tue Jun 21, 2011 1:07 am |
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sethm
Member
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Location: United States
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This is such a harsh reality. Many elders actually have the mentality that a lottery ticket is their only key to retirement. How sad. Putting all your eggs into one random, once-in-a-billion basket is not the smartest plan at all.
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Mon May 07, 2012 9:07 am |
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littleroc02us
Moderator
Cash: $ 204.95
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Joined: 09 Feb 2009
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quote:
Originally posted by sethm
This is such a harsh reality. Many elders actually have the mentality that a lottery ticket is their only key to retirement. How sad. Putting all your eggs into one random, once-in-a-billion basket is not the smartest plan at all.
I guess if your an elder and have no retirement savings at all then maybe that is the only way.  Although you may still get hit by lightening 8 times before winning the lottery. 
Romans 13:8 “Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.”
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Mon May 07, 2012 2:30 pm |
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fast
Preferred Member
Cash: $ 36.30
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Joined: 20 Oct 2009
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| Re: I'm going to win the Lottery |
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quote:
Originally posted by payment proof
It amazes me how many people think they're going to fund their retirement by winning the lottery. Or those saying that's the only way they would be able to fund it.
How many of those people would not only blow the money in five to ten years (if they hit the lottery) but also wind up with no retirement savings? If you're as pessimistic as I, you really would be amazed with that! And, of course, a very high percentage of those don't think they would lose it, but I suppose that’s human nature. I know I wouldn’t blow it, but most would say that. The difference is that I’m right. And, they think they’re right. But, they’re wrong about that.
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Tue May 08, 2012 3:23 am |
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