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Fools rush in for the lottery

To honor April Fools' Day and all fiscal foolishness, GetRichSlowly.org has put on its website a lottery simulator to illustrate the long odds facing ticket buyers, and the site's founder, J.D. Roth points out that nearly any common investment would do far better.
     Yes, an office group did win $319 million in the Mega Millions jackpot recently, but everyone else who played didn't.
      According to a press release, when Roth played his own lottery simulator set to twice a week for 1,000 years, it added up to: $104,000 spent on playing, resulting in $11,554 in winnings. The return on his investment? Down 88.89 percent.
     Put $100,000 in bonds for $30 years, though, and you're likely to get back an inflation-adjusted $200,000; with stocks, $750,000, he writes.  "Do something boring with your money," he says. "Take advantage of the extraordinary power of compound interest to get rich slowly."
     To try your luck in the 1,000-year lottery, go to getrichslowly.org, scroll down to the chart to pick your numbers and let 'er rip.
 

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