Survey: 20% say lottery is most practical path to wealth

Comment #4

KY Floyd — Mon, 16 Jan 2006 00:15:41 GMT

I'm a big fan of cynicism, but do you have any idea how many people have cleared $200,000 from lotteries and how many people have saved that much without winning it in the lottery?The scary thing about the article is that it isn't even about getting rich. It's about accumulating $200,000. Less than the value of an average home in many parts of the country, or enough to earn a less-than-comfortable 8 or 10 thousand bucks a year in your retirement if it's invested.There are some people who are def... [ More ]

Comment #3

JimmySand9 — Sat, 14 Jan 2006 08:09:59 GMT

I'm afraid those 20% are right. The odds of making wealth the hard way are actually higher then that of you hitting Mega Millions.Source : My cynical yet practical instincts.

Comment #2

KY Floyd — Sat, 14 Jan 2006 06:16:12 GMT

Making lottery prizes tax free might make more people play, but is there any reason to think it would make more people stupid? I don't doubt that there are plenty of people who will never accumulate $200,000 dollars if they don't win the lottery, but anybody who thinks the lottery is a practical way to accumulate $200,000 dollars probably didn't graduate in the top half of their class.

Comment #1

CASH Only — Tue, 10 Jan 2006 19:29:15 GMT

Would the 20% be higher if lottery prizes were tax-free

Survey: 20% say lottery is most practical path to wealth

Lottery Post — Tue, 10 Jan 2006 11:54:00 GMT

A majority of Americans are pessimistic about their ability to save $200,000 in net wealth in their lifetimes, and more than one-fifth say the lottery is the most practical way for them to reach that type of goal, according to a new survey.Just 26% of adults surveyed think they could accumulate $200,000 in net wealth in their lifetime, and 9% believe they could collect $1 million, according to the survey of about 1,000 Americans by Opinion Research Corporation for the Consumer Federation of Amer... [ More ]