649 Lottery

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So I'm at work the other day and I talk to people in retirement and personal finance basics. I told them that, basically, I do not work probably work forever and I leave my current job in the coming years. I was surprised that most people would say laughing and asked if he intended winning the lottery. This makes me think. Is this how most people planning to retire or leave work early? Do you realize that it could not therefore more? After talking to more people and do a little research, it became clear that not only most people do not think the ideas for retirement are just the right ridiculous.

I find it funny that a large group of people think that reaching retirement by winning the lottery. Perhaps fun is not the correct word should perhaps say, disappointing or unfortunate. Whatever the name is not important, what matters is that it is a "legitimate" plan for a large number of people. In fact, I was very surprised to find the size of a number really is. Consider the following statistics:

In a 1999 survey by the Federation of American consumers and Primerica Financial Service revealed that 40% of Americans with incomes between $ 25 000 and 35 000 per year, thinks that the lottery would give them their allowance of retirement. What is interesting is that the same study showed that this number will increase to 50% when income is $ 15, 000 to 25 000 dollars for a year. The study shows that people become more desperate and hopeless that their income decreases. Consider this: Say you've spent $ 3 weekly Lottery Tickets every week. If you put that to an investment of 8% for 25 years would have $ 12, 557.38. I'm sure this will be your lottery winnings for a total term of 25 years. The chances are very slim that you will earn nothing.

The most popular lottery in Canada Lotto 649. In this lottery the six numbers are randomly drawn from a set of balls with numbers from 1 to 49. Their chances of win are:

1 in 13, 983, 816 or

0.0000000715%

The odds of being killed by a dog: 1 in 700 000

If everyone in Canada has played Lotto 649 draw even at the same time, only 2 winners. Most Make people think the frequency will increase your chances of winning. Consider this: If you play Lotto 649 twice a week, every week, for a thousand years, the possibilities of winning the jackpot are about 1%. The cost to play the lottery for a thousand years would be approximately $ 208 000 to the exclusion of thousands of years of inflation.

I heard that the lottery is a tax for people who can not do math. I could not agree more. People who play lottery does not include the basic needs of personal finance. I've never played the lottery 649, and I intend to keep this sequence of life. I see no logical reason to spend money on the lottery when I'm 20 times more likely to be killed by a dog. And how many people you know killed by a dog? Rest my case.

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Article Source: ArticlesBase.com – Up To 50 Percent Of Americans Plan To Retire From The Lottery. Are You One?

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