Relying on tonight’s Mega Millions jackpot to fund your retirement?
Looking for ways to finance your retirement? If you’re like Jason Schutz of St. Cloud, Minnesota and you only have a 401(k) plan, you might have bought a lottery ticket for tonight’s record-breaking $640 million Mega Millions jackpot. In today’s USA Today, Schutz says that his only hope for retirement is to win the lottery. "My 401(k) is worth so little. My only chance to retire is Mega Millions," he says.
Good luck, Jason, but according to the article, your odds of winning are 1 in 176 million. Retirement shouldn’t be a gamble. That’s why we’re part of Retirement USA, a campaign for a new type of retirement plan that would provide all Americans with universal, secure, and adequate income to supplement Social Security.
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