4 ms·
You missed the point that 20% return on $100 won't change a person's life but a lottery jackpot will. I find it odd that when a wealthy person hits the jackpot
by throwaway010718 9y ago
You missed the point that 20% return on $100 won't change a person's life but a lottery jackpot will.
I find it odd that when a wealthy person hits the jackpot on a speculative trade or alt-coin I can't help but feel they were clever. Perhaps it is because buying and holding takes discipline whereas no discipline is required to buy a lottery ticket.
- WalterBright 9y agoInvesting regularly will change your life, and the odds are in your favor. You're probably more likely to have a jetliner fall out of the sky on your head than win the lottery. But hey, do what you like. Feel free to "invest" in the lottery. Don't forget that you won't get any tax breaks on the jackpot if you win it, either.
- idrios 9y agoHe's not saying it's financially better to play the lottery than to invest in stocks. I interpreted it more as 'poor people play the lottery because it gives them hope that things will change'. A lottery ticket is more of an emotional choice because when you buy one, you get to imagine yourself in a life where you win. Meanwhile, investing $250 in stocks once a year won't do much to change that person's life. Even if the total value of those stocks double in value in 10 years, that's 10 years of the person's life gone and they've managed to save only $5,000. That's pretty grim
- WalterBright 9y ago$5000 is about $7500 ahead of losing $2500 in the lottery. At $15/hr wages, that puts you 500 hours of your life ahead.