As I write this, the Powerball multi-state lottery jackpot is more than $200 million. It’s difficult to resist, right?
I know several people who buy a ticket for every Powerball draw, which is twice a week. That’s $4 if they buy one ticket for each game. I don’t get very interested until it’s at least $100 million and even then, I forget to buy a ticket more often than I get one. I don’t see a problem with buying a lottery ticket every now and then. I do have a problem with buying more than one ticket per game. Especially if the buyer isn’t actively investing in REAL income-producing assets.
If you are looking at the lottery as your retirement plan, that’s a problem.
If you choose to play the lottery, be reasonable. One ticket. If you currently buy five draws per game ($10 rather than $2), cut that down to one draw and invest the rest. At $10 per game, that’s $20 each week, or $80 per month. Cut that down to $16 per month and add the rest to your investment account. You still are in the game, but you’re also planning for your future.