Why NOT to waste money on Lotto

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Author’s Notes:

IMPORTANT:

MATH behind why I QUIT playing regular lotto and used the same money for INVESTMENT instead

• $2 a day *7 days a week = $14 a week
• $14 a week *52 weeks in a year = $728 spent per year
• $728 (probably will go UP) * 60 years of someone’s life = $43,680
• Let’s estimate each ticket has a 1 in 35 MILLION chance of winning.
• In 60 years we would have bought 21,840 Tickets (each worth $2).
• If we use the EXACT same numbers every time our chances of winning would be:
• 21,840 out of $35 MILLION.
• Those to us, are INSANELY SMALL CHANCES, even over 60 years of someone’s life.

Conclusion

We have decided that we will NOT waste money on buying lotto tickets regularly, will still buy for fun on the really big jackpots and hope for the best but know that our chances of winning the extremely big jackpots are even smaller something like 1 in 200 million.  

IF you wish to set up automatic recurring investments through Fidelity then you can look further about that here: Fidelity Automatic Investments

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