LottoStocks promotes retirement and health savings accounts
LottoStocks democratizes the stock market by promoting the ownership of and participation in retirement and health savings accounts.
Two of the cornerstones of President Bush’s Ownership Society are retirement and health care.
LottoStocks is available as both a qualified and non-qualified investment. Health Savings Accounts (HSAs) are available through LottoStocks as well.
In 2000, only 9.5% -- 15.1 million taxpayers -- of those eligible contributed to an IRA. There were, therefore, approximately 130 million non-participating but eligible taxpayers who could have, collectively, contributed about $320 billion to IRA accounts. It can only be assumed that this 90.5% of eligible but non-contributing taxpayers would contribute more to IRAs if the opportunity to parlay impulse purchase funds into the LottoStocks program via the nation's 133,000 lottery terminals was made available to them.
Note that both qualified and non-qualified investments are, in effect, “retirement” savings plans. Although the specific purpose of qualified plans is to increase retirement savings, it is important to note that non-qualified investments are also designed as and work best if used as retirement plans.