winning the lottery and retirement

Reply #30

Funtimz — Tue, 21 Jul 2015 00:41:38 GMT

I play $30-40/month...

Reply #29

chopperman8238 — Mon, 20 Jul 2015 03:56:34 GMT

I never thought that we would be spending $1,000 per month for snip ing lotto.

But 100 per player aint bad, hopefully we wont have to do this for 20 years...

This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam.

Reply #28

alsmurf4 — Mon, 20 Jul 2015 02:50:38 GMT

I buy one Megamilliions, one Powerball and one Louisiana Lotto for each drawing and consider that $8 a week part of my entertainment budget, just like movies or eating out.

Reply #27

BobP — Fri, 17 Jul 2015 12:43:41 GMT

Old info from the NASPL

Is it true that the odds of winning the lottery are worse than being struck by lightning?

No, even if we just consider the awarding of large jackpots. In 1996 1,136 people won $1,000,000 or more playing North American lotteries. An additional 4,520 won $100,000 or more. By contrast, 91 people were killed by lightning.

More then a couple of dozen win the big one each year.

$20 is the new $5 bill.

BobP

Reply #26

OldSchoolPa — Thu, 16 Jul 2015 20:01:00 GMT

I prefer giving myself a chance to experience a life I only could have if I were a CEO. I plan to continue playing the lottery and becoming a boss in business.

Reply #25

mikeintexas — Sun, 12 Jul 2015 04:16:53 GMT

Great minds and all that. You and I should probably have our own TV show: Two Broke Texans (I'd better not hear any Brokeback Texan jokes from the peanut gallery)

My plan is a little better than it seems; some of those coins are wheat pennies. Well, a couple of 'em, anyway.

I won 2 bucks on tonight's Texas Lottery. The line cost $2, though. Better to break even than break bad, I guess.

Reply #24

rcbbuckeye — Sun, 12 Jul 2015 00:30:03 GMT

Mike, are you copying my plan???

LOL.

Reply #23

mikeintexas — Sat, 11 Jul 2015 23:52:04 GMT

I have a pretty good retirement plan: a jar full of pennies and a lottery ticket good for four more drawings.

Reply #22

CDanaT — Sat, 11 Jul 2015 23:24:13 GMT

Having a little fun and enjoying the feelings of what if a lottery jackpot comes your way. Oh, I know its a terribly long shot and only a couple of dozen win the big one in a year. The fact is, that someone does win and usually on a monthly basis. I look at the money spent on alcohol and cigarettes (which I do not indulge) oops, forgot about the marijuana in selective legalized areas or illegally purchased(don't do that either). Heck, going to the movies and doing the popcorn , drink and candy t... [ More ]

Reply #21

myturn — Sat, 11 Jul 2015 22:28:31 GMT

Lotteries raise revenue for many worthwhile projects all over the world, and have done for centuries. Yes, we should all plan and invest for the future. But that doesn't mean we shouldn't have a little fun on a lottery. We all benefit from the revenue raised.

Everything in moderation

Reply #20

psykomo — Sat, 11 Jul 2015 15:48:28 GMT

52000 will be peas 25 years from today! A Smart 4/2 car will cost $100,000 at least and a Ford or Chevy $250,000 maby more? What about your

$2000 a month utility bill for your 300 sq. ft. apartment? How long can you live in New York today on 52000 a TEAR ? People pay that much to

park their car in a climate controled garage today in that city. Who can afford anything in NYC today anyway except the VERY VERY RICH $$$

Today lotta people I know have 3 PT jobs working 60 to 90 hours a we... [ More ]

Reply #19

myturn — Sat, 11 Jul 2015 14:08:28 GMT

While $52,000 is a nice sum, it is not enough to retire on. Just because people play lotteries, it doesn't mean that they don't save for retirement.

$40 a week would be nice meal out, very cheap meal in many areas.

Reply #18

psykomo — Fri, 10 Jul 2015 15:00:47 GMT

Where will you keep all your money after saving for twenty-five years? The people in Greece can't get their money outta the banks 000000

Reply #17

jjtheprince — Fri, 10 Jul 2015 13:29:01 GMT

If anyone out there is spending $200/week on the lottery, they obviously don't NEED it lol.

Reply #16

chopperman8238 — Fri, 10 Jul 2015 05:57:45 GMT

I don't do Starbucks and don't hit fancy restaurants, but giving up the Ferrari and racing NO GO.

Its paid for...

Reply #15

Artist77 — Fri, 10 Jul 2015 00:57:57 GMT

So your home is paid off and you have a large retirement account? I doubt it.

Reply #14

JeetKuneDoLotto — Fri, 10 Jul 2015 00:53:57 GMT

I agree.

If all of us lottery players, heavy spenders or not had the patience to

watch water get wet

then we don't have to play the lottery.

Reply #13

Artist77 — Fri, 10 Jul 2015 00:26:57 GMT

99% of the time I bring my own lunch to work vs. buying it. I see some coworkers spend as much as $30 a day buying meals. I save more money this way over the years so my little bit of lottery money does not add up to much. I paid my home off early with a 15 year mortgage and took few real vacations... so when someone rarely comments on my lottery money, I ask if their home is paid off and how much money do they have in their retirement accounts.

Reply #12

Raven62 — Thu, 09 Jul 2015 13:17:00 GMT

Maybe one could learn to love it

Reply #11

Teddi — Thu, 09 Jul 2015 12:51:18 GMT

The issue with thinking along these terms is that it can apply to anything. We can all save more for retirement if we chose to live a more Spartan existence. One could cut out Starbucks, cable, vacations, restaurants, and a whole lot of other unnecessary vices and be a millionaire by the time retirement rolled around. But what would be the point if one cuts out all the things that bring you enjoyment

Reply #10

Raven62 — Thu, 09 Jul 2015 11:51:45 GMT

One Pick 4 Str8 = $5,000 x 12 = $60,000 per Year x 25 Years = $1,500,000 - $52,000 = $1,448,000 Net

Reply #9

BobP — Thu, 09 Jul 2015 06:36:39 GMT

To answer your teaser question. Don't overestimate your ability to make financially savvy decisions as you age. Be sure to work enough periods to qualify for social security so you can take medicare at 62 as health fails can wipe out millions and buying coverage on the open market can be expensive. If you're healthy wait until 70 to collect SS it will provide better walking around money while your investments work.

I'm going to go ahead and say the average heavy player could easily cut the... [ More ]

Reply #8

chopperman8238 — Thu, 09 Jul 2015 04:03:36 GMT

We have dropped about 70 Grand, maybe we will stop at 100K

Reply #7

music* — Thu, 09 Jul 2015 01:12:59 GMT

Patience is a virtue that not very many lottery winners have. If they did then they would still be rich.

One of the debates here is Lump Sum v. 30 year annuity . Deeyar948 , where do you stand ?

Factors such as age, health, size of lottery won, and more need to be seriously thought out.

Reply #6

Deeyar948 — Thu, 09 Jul 2015 00:01:01 GMT

I just thought of this idea I havent acted on it yet. If all of us lottery players, heavy spenders or not had the patience to watch out trees grow then we dont have to play the lottery

Reply #5

noise-gate — Wed, 08 Jul 2015 23:42:07 GMT

So D : How much have you put away in your savings acct played during your year and a half and between your 22 posts? - Be Truthful, lottery members can detect deceit.

Reply #4

ESR54 — Wed, 08 Jul 2015 23:29:23 GMT

Thank for the Info.

Reply #3

ThatScaryChick — Wed, 08 Jul 2015 23:12:48 GMT

Or do both. Put money in your savings and play the lottery.

Reply #2

Deeyar948 — Wed, 08 Jul 2015 23:07:35 GMT

Thats if you spend only $40 a week, I know some people that spend 200 a week thats $10,400 a year or $260,000 in 25 years

Reply #1

river26 — Wed, 08 Jul 2015 23:03:47 GMT

52000 thats peanuts

winning the lottery and retirement

Deeyar948 — Wed, 08 Jul 2015 23:01:53 GMT

All the money you spend on lottery can be saved up by time you hit retirement age, you'll have a nice stash.

If you spend 40 dollars a week thats $2080 a year times by 25 years thats $52,000