I did it. I did what I kept telling myself I wasn’t going to do. Yesterday, I joined my group’s Powerball pool. This is the last time.
Instead of playing the Powerball. I should transfer $5 into an investment account and put that money into an index fund.
At $5 twice a week, you’ll invest $40 a month and $480 a year. Even if the market goes down, you’ll still have more than you would from not winning the Powerball.
In the long run, a 7% average stock market return is better than nothing.
Also read this: Powerball Isn’t Investing and Vice Versa from Barry Ritholtz. You need to follow Barry if your interested in financial markets. The guy drops a ton of knowledge every day.