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Response to mcar (Reply #47)

Thu Jun 30, 2016, 02:14 PM

48. Here it is ...

 

A recent survey sponsored by the Consumer Federation of America and the Financial Planning Association indicated that 20 percent of the 1,000 Americans polled were counting on winning the lottery for their retirement. This is not a joke. People do not believe they can accumulate the $200,000 in net worth that is the minimum (with Social Security) necessary to retire, according to planners. Indeed, the lower the income of those questioned, the more doubtful about savings and the more "reliance" on the lottery.

http://www.naplesnews.com/community/is-winning-the-lottery-your-retirement-plan-ep-406501770-332099182.html


And, it ain't just Americans ...

A similar study of Canadians showed that about 12 percent were counting on winning a big lottery so they could have enough retirement income to retire in style.

Even more recently, a study found that one-third of Canadian female Baby Boomers are hoping for a lottery win to fund their retirement.

http://www.retirement-cafe.com/Winning-a-Lottery-The-Retirement-Plan-with-the-Most-Bugs.html

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