Note to FDIC: Lottery Tickets Can Spur Retirement Savings

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They say that buying a lottery ticket is like buying a dream for 24 hours: The chances for winning the jackpot are minuscule, but it’s not a bad short-term fantasy for the price of a buck. The problem is too many Americans spend far more than $1 for that fleeting moment. One report showed households with incomes under $12,400 spent an average of $645 on lotteries, or about 5% of their gross income every year.

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