{"id":44493,"date":"2023-08-04T12:34:47","date_gmt":"2023-08-04T16:34:47","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/mega-millions-hits-1-25-billion-but-you-should-buy-stocks-not-lottery-tickets-heres-how-to-get-8-return\/"},"modified":"2023-08-04T12:34:49","modified_gmt":"2023-08-04T16:34:49","slug":"mega-millions-hits-1-25-billion-but-you-should-buy-stocks-not-lottery-tickets-heres-how-to-get-8-return","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=44493","title":{"rendered":"Mega Millions hits $1.25 billion, but you should buy stocks \u2014 not lottery tickets. Here\u2019s how to get 8% return."},"content":{"rendered":"
\n

The Mega Millions jackpot is now at an estimated $1.25 billion, and the next drawing is Friday night. Tempted? You have a 1 in 302.6 million\u00a0chance of winning. They\u2019re not great odds.<\/p>\n

Want better odds of making money?<\/p>\n

\n

The National Association of Investors\/BetterInvesting, a nonprofit investment education organization that\u2019s been around for seven decades, ran some numbers, and the results could be a wake-up call for people hoping for a get-rich-quick lottery scheme with a dollar and a dream.<\/p>\n

On Friday morning, stocks are higher after the July labor report showed the economy is still adding jobs, but at a moderating pace. Take that as a sign that over the long term, the stock market is a better bet.<\/p>\n

Suppose a lottery dreamer spent $40 each week on lottery tickets beginning in 2002 and, every year, that amounted to $480 for tickets that were, in all likelihood, losers. In two decades, you would be $9,600 out of pocket.<\/p>\n

Instead of being a lottery dreamer, imagine that person was a stock-market planner, and put that same $40 each month into the S&P 500 from 2002 to 2022. That would equate to approximately $22,000 profit, said Ken Zendel, CEO of the National Association of Investors\/BetterInvesting.<\/p>\n

The compound annual growth rate for S&P 500
\n SPX
\n was 8% from January 2002 to December 2022, by Zendel\u2019s count. (That does not adjust for inflation, but includes a dividend reinvestment.) <\/p>\n

<\/p>\n
\n

\n \u201c<\/span>\u2018By transforming lottery losses into potential lifetime opportunities, we can foster a nationwide culture of informed investing, where people from all walks of life secure their financial future in an honest and proven way.\u2019\u201d<\/span>\n <\/p>\n


\n \u2014 Ken Zendel, CEO of NAIC\/BetterInvesting<\/span>
\n <\/small><\/p><\/div>\n<\/p><\/div>\n

The S&P 500 is up more than 17% so far this year. The Dow Jones Industrial Average
\n DJIA
\n is up more than 6% year to date while the Nasdaq Composite
\n COMP
\n is up 33%.<\/p>\n

While other places are offering lottery-themed promotions, like a free Krispy Kreme
\n DNUT,
\n +0.69%<\/bg-quote>
\n doughnut for those who show their lottery ticket, the National Association of Investors\/BetterInvesting is also getting into the act. <\/p>\n

There is one crucial difference: it\u2019s trying to promote a path to wealth that\u2019s rooted in reality, not lotto-winning dreams.<\/p>\n

People who supply their losing lottery ticket numbers can get a free 90-day trial with the nonprofit to access resources, including online stock-analysis tools and the organization\u2019s investing clubs. After that free trial, membership starts at $120 a year.<\/p>\n

\u201cAmericans\u2019 desire for financial freedom should not rest on the immensely long odds of a 1 in a 300 million shot,\u201d said Zendel. <\/p>\n

\u201cBy transforming lottery losses into potential lifetime opportunities, we can foster a nationwide culture of informed investing, where people from all walks of life secure their financial future in an honest and proven way,\u201d he added.<\/p>\n

The good news: people are wise to the benefits of compounding where your initial capital investment and the returns you earn earn on your money and, as such, they are investing through direct stock ownership, mutual funds or a retirement account.<\/p>\n

Six in 10 Americans said they were invested in the stock market this year, according to a recent Gallup poll. That\u2019s up from 58% in 2022 and is at the highest point since 2008, Gallup noted.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Mega Millions jackpot is now at an estimated $1.25 billion, and the next drawing is Friday night. Tempted? You have a 1 in 302.6 million\u00a0chance of winning. They\u2019re not great odds. Want better odds of making money? The National Association of Investors\/BetterInvesting, a nonprofit investment education organization that\u2019s been around for seven decades, ran […]<\/p>\n","protected":false},"author":1,"featured_media":44494,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-44493","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nMega Millions hits $1.25 billion, but you should buy stocks \u2014 not lottery tickets. 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