Lottery: Is It Really A Stupid Tax?
We’ve all heard the jokes. I don’t play it often, but I have partaken in the so-called tax of the IQ challenged. However, I have evidence that it is a viable investment and a secret technique for being stupid tax-free! Ok, that didn’t sound right. You’ll get the picture.
Got your attention? Couple weeks ago, I needed change for the bus. I’ve been going Metro and been racking up some savings. Unfortunately I didn’t have enough quarters to get home. I went into my local 7-11 and needed to buy something in order for them to open the register. I slapped down a dollar for a quick picks Mega Millions lottery ticket and got my bus fare. I didn’t think too much of it since I needed the change. I don’t know how it is for others, but I do feel some joy, entertainment, and hope from the time of purchase to the time the winning numbers are picked.
The California Lottery asks “What can a dollar do for you?” Under the right mindset, it can do quite a bit! But if you are banking on this as an investment, you’ll be better off setting a goal, creating a plan, and following through. The odds are stacked against you so come back to earth after your trip to Fantasy Island. But in this case, I caught a break. I hit the mega number for a $2 payout. I doubled my money for a 100% ROI! I beat the odds this time, but here are the real odds from the California Lottery website. The overall odds of winning any prize in MEGA Millions will be 1 in 40 and the odds of winning the jackpot will be 1 in 176 million.
Discover Million Dollar Giveaway
I’ve been a long time user, but drifted away using my Discover card as it is not widely accepted. When they launched their million dollar giveaway, I couldn’t resist. Now many of my transactions start with, “Umm, do you take Discover?” Any time I make a purchase, I get an entry into their year end sweepstakes. I get the same euphoria and joy of a lottery ticket without spending a dime. Like I said, I’m living stupid tax-free! I really need to phrase this better.
I absolutely agree with the lottery is a stupid tax joke if you are relying on the lottery as an income generator and your fast track to a better life. Instead, why don’t you discover what you are passionate about, learn the needed skills, and find a more viable income stream. On the bright side, some of the lottery money goes back to the education system. So if you don’t hit the jackpot, consider it a donation to your state. We know California needs it. Finally, if you do play the lottery, keep your feet on the ground and enjoy the daydream and hope your ticket brings. We can still dream as adults, right?