Tuesday, November 27, 2012

Lottery Fever (again)

Yep, the Powerball is up to $500,000,000.00. And that has millions of people queuing up to spend large sums of money that in far too many cases they can't afford to part with. Look, here's my take. If you want to drop a buck or two on the lottery, fine. I've done it myself in the past. You can write that off as cheap entertainment. For a couple of bucks you get to daydream about how you would spend a ridiculous amount of money. But it's a lousy retirement plan. Which is to say if your spending more than a couple of bucks then you are just throwing away money.

As someone much wiser than I once observed, the lottery is a tax on the mathematically challenged.

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