Wednesday, March 14, 2012

Lottery tickets at odds with wisdom of IRAs

It's time to get back to reality. Just a week ago three peopleshared a national lottery jackpot of more than $325 million. Theirlives are changed forever. Yours isn't. That's the way it is withlotto fever.

It's not that I begrudge anyone the daydreams that cost only adollar. Name your fantasy. It's cheap at that price. Dream on. If youwin, you could buy anything you want, do anything you want, help anynumber of friends, relatives and worthy causes.

But you didn't win. You knew the odds were stacked against you--something on the order of 1 in 76 million. And even buying $10 worthof tickets wouldn't improve your chances. Each ticket carried thesame mind-numbing …

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