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Investing $5 In The Stock Market Versus Spending $5 In The Lottery

Stock Market

[ 19 ]

[ 61.3% ]

Lottery

[ 12 ]

[ 38.7% ]

Total valid votes

[ 31 ]

Discarded votes

[ 6 ]

THRIFTY

NEW YORK
United States
Member #90,529
April 29, 2010
13,411 Posts
Offline

Oct 15, 2024, 3:30 pm

https://www.lotterypost.com/news/352211
THRIFTY

NEW YORK
United States
Member #90,529
April 29, 2010
13,411 Posts
Offline

Oct 15, 2024, 6:20 pm

"It's just that their chances of leaving their troubles behind indeed are not necessarily all that bad when investing lotto money in stocks instead. I mean, maybe not with penny stocks, but with real stocks, or just ETFs.

If you really buy a lottery ticket for 5 bucks every week, and you do that for your entire working life, say, so let's say 40 years, that costs you a total of about 10000 bucks. If you invest that at an average return of 7%, you'd end up with about 53700 bucks.

That's certainly much better than the expected return of the lottery (where you'd probably have left about 5000 of the 10000 at the end), and it's not an insignificant sum of money, especially for someone who otherwise barely has any, that really could provide quite a bit of improvement in quality of life--if only because you know that you have it in case you need it, and even if you spend parts of it on emergencies before the 40 years are over.

Now, I am not sure whether I would really recommend investment in stocks here ... but then, if the alternative is spending the money on lottery tickets, buying stocks instead is probably really more likely to actually be useful."
Mayte

Mexico
Member #193,539
November 3, 2018
369 Posts
Offline

Oct 15, 2024, 6:49 pm

Yes, it is a very good idea, but you have to have a very good financial education, since there are those who do not trust this type of investment.
Artist77

United States
Member #121,737
January 16, 2012
10,897 Posts
Offline

Oct 15, 2024, 8:56 pm

Invest in an s&p 500 fund. You can get an IRA through your bank if you do not have a 401k plan through your employer. You do not need an advanced financial education to do this. It is a simple process. You would likely have a couple of million at least after 40 years. That compounding factor is important.

DO NOT BE AFRAID.

How Great Thou Art. God has blessed America.
cottoneyedjoe

United States
Member #197,022
March 28, 2019
1,749 Posts
Offline

Oct 15, 2024, 11:21 pm

Gambling is no worse than alcohol. Lottery tickets won't give you cancer (unless you also eat them).
Elizabeth03

Nova Scotia
Canada
Member #9,934
December 27, 2004
1,636 Posts
Offline

Oct 16, 2024, 7:55 am

Playing the lottery you can win. Just do not over spend on ticket's. And take one moment, one day at a time!
GiveFive

Florida's West Coast
United States
Member #92,603
June 10, 2010
7,148 Posts
Offline

Oct 16, 2024, 8:25 am

If I ever hit a jackpot, then I'll invest (some but not all) of my winnings in the stock market.

There are several ways to invest...alternatives, bonds, real estate, and art are just some of the many ways to invest. The key is to diversify. G5

Play Smart! That's IF there is such a thing as playing smartly!!
Brock Lee

us
Member #231,828
May 4, 2023
1,633 Posts
Offline

Oct 16, 2024, 12:14 pm

i prefer to invest $5 in the pocket of a jacket i wear infrequently. then when i put it on months later and check the pockets, i am delighted to find $5. think of it as investing in your future happiness.
JustMaybe

us
Member #228,334
January 2, 2023
1,493 Posts
Offline

Oct 17, 2024, 9:43 pm

Playing the lottery is a form of entertainment.

Other forms of entertainment include:

1. Paying for your Netflix, Hulu, Amazon Prime, Cable subscriptions.

2. Going out for a drink or buying your drinks and having it at home.

3. Going for concerts and sports related events.

And many other examples that we can come up with.

Investing in anything, stocks and the rest does not mean that one cannot have some form of entertainment.

It's not an either/or argument, I view it more of a this/and argument.

Have a little fun along the way to the future that is always out of reach.

Investing is great, it is advisable. Having some fun is great too and highly recommended 😉

I believe winning the lottery jackpot is a 💯 % factor of luck.

May Fortuna, goddess of chance or lot vindicate me.
LoFi Lottery

United States
Member #246,514
October 18, 2024
6 Posts
Offline

Oct 19, 2024, 12:33 pm

Quote: Originally posted by cottoneyedjoe on Oct 15, 2024
Gambling is no worse than alcohol. Lottery tickets won't give you cancer (unless you also eat them).
LoFi Lottery

United States
Member #246,514
October 18, 2024
6 Posts
Offline

Oct 19, 2024, 12:34 pm

Quote: Originally posted by JustMaybe on Oct 17, 2024
Playing the lottery is a form of entertainment.

Other forms of entertainment include:

1. Paying for your Netflix, Hulu, Amazon Prime, Cable subscriptions.

2. Going out for a drink or buying your drinks and having it at home.

3. Going for concerts and sports related events.

And many other examples that we can come up with.

Investing in anything, stocks and the rest does not mean that one cannot have some form of entertainment.

It's not an either/or argument, I view it more of a this/and argument.

Have a little fun along the way to the future that is always out of reach.

Investing is great, it is advisable. Having some fun is great too and highly recommended 😉
eddessaknight

LAS VEGAS
United States
Member #47,728
November 22, 2006
9,623 Posts
Offline

Oct 19, 2024, 10:22 pm

'those who trust to chance must abide by the results of chance."

`former president, Calvin Coolidge
Justing618

Baltimore
United States
Member #221,592
March 26, 2022
999 Posts
Offline

Oct 20, 2024, 1:27 am

At this point I'm locked in. Been playing the same numbers for 20 years.... I would go nuts. If the number come out and I didn't play. And I have absolutely no hobbies anymore due to helping take care of my austic neice. 🤷‍♂️ Cheaper then sitting on a bar stool to.....
rcbbuckeye

100

Texas
United States
Member #55,887
October 23, 2007
22,269 Posts
Online

Oct 20, 2024, 9:40 am

Quote: Originally posted by Justing618 on Oct 20, 2024
At this point I'm locked in. Been playing the same numbers for 20 years.... I would go nuts. If the number come out and I didn't play. And I have absolutely no hobbies anymore due to helping take care of my austic neice. 🤷‍♂️ Cheaper then sitting on a bar stool to.....

I've been playing over 40 years (Ohio, Texas). Takes perseverance, right?

Especially running with the same numbers all those years. Hope those numbers come in for you!

JUST LOOK AT THE ODDS OF ANY JACKPOT GAME, THAT WILL TELL YOU EVERYTHING YOU NEED TO KNOW
Elizabeth03

Nova Scotia
Canada
Member #9,934
December 27, 2004
1,636 Posts
Offline

Oct 20, 2024, 1:43 pm

The lottery is definitely fickle. I wish you the best with the numbers!

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