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Warpy

(114,650 posts)

1. It's the only retirement plan older Boomers have left

Reply to Liberal_in_LA (Original post)

Wed Jan 13, 2016, 05:35 PM

Jan 2016

since the pensions got looted and the 401K plans got gutted in 2008 and never recovered, thanks to exorbitant management fees.

I don't fault anyone for buying a ticket, even if s/he can do the math.

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Some see a dark side to Powerball frenzy � the toll on poor players [View all] Liberal_in_LA Jan 2016 OP

It's the only retirement plan older Boomers have left Warpy Jan 2016 #1

"401K plans got gutted in 2008 and never recovered, thanks to exorbitant management fees." frankieallen Jan 2016 #3

My 401k is well above what it was in 2008 NobodyHere Jan 2016 #4

You're lucky. Underpaid workers with small contributions Warpy Jan 2016 #5

Then why buy lottery tickets???!!! Makes no economic sense. nt clarice Jan 2016 #12

The extremely small hope of winning something Warpy Jan 2016 #14

I think that you missed the point.....oh well. nt clarice Jan 2016 #18

My 401K took a hit then but it was LiberalElite Jan 2016 #10

Just spent $20 today happynewyear Jan 2016 #2

Go for it 1939 Jan 2016 #8

CNN did a piece on the sad end of lottery winners the other night. cwydro Jan 2016 #6

Some end up worse off, right? nt LiberalElite Jan 2016 #11

Much worse. cwydro Jan 2016 #16

That's what? About $7.00 a month? Orangepeel Jan 2016 #7

That's not the comparison. Igel Jan 2016 #13

I won about $80 in Lotto once - LiberalElite Jan 2016 #9

When I lived in Florida, I had TWO friends (grr), who won some good bucks. cwydro Jan 2016 #17

Some see a dark side to breathing Egnever Jan 2016 #15

I bought one powerball machine choice or whatever. I put down my $3 and waited for the clerk to give Jim Beard Jan 2016 #19