No one won the Mega Millions jackpot last Tuesday and more
people keep buying tickets before today’s draw. The jackpot has now reached $540
million, an absolute record. What would you do with that kind of money? I think
most people are having a hard time realizing how much money this jackpot
represents.
Yesterday, 1.3 million tickets were being sold per hour in
New York. This jackpot has sparked a real frenzy over the game, but what are
your chances of actually winning this jackpot? An American household spends about $500 every year on these games, which is a huge amount considering this
is not a good investment. For about $500 dollars, most households could invest
in a good insurance policy or even place their money in stocks or bonds. If a household
decided to save up for a few years, larger investments would be possible.
Buying a lottery ticket is fun and the expense does not seem
very important. But if you started saving the money you usually spend on these
games and place in a jar, you could have a nice bundle by the end of the year.
Do not think of putting this money aside as missing out on a possible jackpot;
you could play ten lotteries every single day for the rest of your life and
never win anything. This is how bad the
odds are. Do the smart thing and save up your money, even though I agree it is
hard not to spend a couple of dollars and daydream about these $540 million.
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