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Cake day: July 3rd, 2023

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  • mayonaise_met@feddit.nltoLemmy Shitpost@lemmy.worldYou can't win the lottery
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    11 months ago

    The idea that it could happen is false hope though, because you’re buying into the idea that the chance is worth $5. The chance is so small it might as well be zero. So you’re way over spending for a could that is practically a won’t.

    There are some situations with some lotteries where the math works in your favor because of for instance rollover. But if you’re committed to $5 a week you’re not that lottery player.

    If you were to put $5 in S&P 500 weekly for a decade it is far more likely that you’ll have a profit of a few thousand on top of the money that you did not spend on lottery tickets (because you still own the stock). That’s not really as radically marxist as my previous comment might make me seem, but for your personal wallet it’s way better.

    In this economy if you want to become rich, the best thing is to start out rich. The next best thing is starting a company and pocketing the productivity of your employees. Back to that marxism thing again.







  • Borrowing for a car is becoming normalized in my country, but what’s wrong with just buying a €5-10k car outright? My SO and I have spent a grand total of €12500 on purchasing 3 separate vehicles in about a decade.

    I drive a relatively new electric car for work that is a job perk, but if I wouldn’t I’d just driving to work in our little Mazda 2.

    There is no single part of my house I even want to spend the average new car price on (€43k). That’s retire a year early money.