Is playing the Lottery a retirement strategy?

With this weeks $448 million jackpot, lottery fever hits the US again.  Why do so many people talk about “winning the lottery” as their retirement plan when the chances are infinitessimally small?

Not only that, studies have shown that most lottery winners end up miserable, broke and estranged from family and friends, as so many people “expect” them to share their winnings.  That would make for a lousy retirement don’t ya think?

Do you play the lottery regularly hoping to hit it big?

If so, do you deep down really think that you will be one of the winners?  And if you did win, why do you think you would be able to withstand the misery that follows?

Read about the latest powerball jackpot on USA Today at:

http://www.usatoday.com/story/news/nation/2013/08/07/powerball-players-jackpots/2629245/

About Tim Turner

As founder of Torrid Technologies, Tim is an expert in retirement and financial planning with over 20+ years experience designing software for companies like AXA, TIAA-CREF, Pacific Life, Sun Life, The MONY Group, Sentry Insurance, The Hartford, MassMutual, LPL and many others.

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