Winning Powerball is Harder than Ever

According to Jo Craven McGinty writing in The Wall Street Journal (1/16/16), in October the Powerball system was revised to reduce the chance of winning from 1 in 175 million to only 1 in 292 million. Rejiggering the system means it takes longer for a winner to appear while the jackpot amount increases. The bigger the jackpot, the more tickets are sold. So… how delusional are you? Replace your lottery dreams with the reality of improved financial security in later life. A much better use of your money is to open a myRA account and add to it weekly what you would spend on lottery tickets.