Wednesday, January 11, 2006

Apparently, All You Need is a Dollar and a Dream

Sometimes I really worry about the world and our future as the dominant species here on Earth. I was floored when I read the following article, entitled "Save Money? Nah, just win the lottery - survey" on Yahoo News.
Asked the most practical way to accumulate "several hundred thousand dollars," 21 percent chose winning the lottery, compared to 55 percent who thought saving something each month for many years was best, according to a survey by the Consumer Federation of America and the Financial Planning Association.
That 21% really needs to take a weeks worth of their lottery money and invest it in "The Automatic Millionaire" by David Bach.

The other amazing stat in this article is that 1 in 10 households have a net worth of zero. Are you kidding me...1 in 10 actually spends more than they make? That is a much higher number than I thought that it was. These stats tell me that there is a great need for education in the area of personal finance.

Be sure to also check out what Everybody Loves Your Money and Personal Finance Advice had to say about the article.


Anonymous BJK said...

Hey RS, weren't you in that lottery club that you talked about in your post to "EverybodyLovesYourMoney"?


1/11/2006 8:22 PM  
Blogger RS said...

Yes, I was in the initial Powerball buy when it was really high. I got out of it when it turned into more of a lottery club that was planning on putting money towards all lotteries over $100 million.
It was fun to dream 1 would not have been financially smart of me to put money in all the time.


PS I never looked at this as an investment or thought that it was my only way to make a lot of money.

1/12/2006 8:58 AM  
Anonymous BJK said...

yeah, I'm just messin' with ya. I did the same exact thing.

1/13/2006 2:22 PM  
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