A lot of us like to play the Lottery, especially when the pot gets really big. There are also people who play it every week, very consistently. I get it, it’s fun, even when we know the odds of winning are next to nothing.
So, instead of spending our money on Powerball, Mega Millions, Scratchers and other Lotteries, I want to show you how we can use that money to become wealthy.
Let’s look a Tom. Tom is 25 years old and plays Powerball and Mega Millions each week.
Both of these Lotteries have two drawings each and a ticket is $2 each. Let’s say Tom spends $20 a week for Lottery tickets.
Now, if Tom took that $20 each week, or $1,040 a year and invested it in VTSAX, Vangaud’s Total Stock Market Fund, and let’s assume he averages an 8% return through the years, at 65 years old, Tom will have about $270K.
Of course, $270K isn’t rich, but it’s at least a good start and that’s only from $20 a week. If Tom could invest $100 a week, he’d have $1.3M at age 65.