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Lottery is no way to prepare to retire

There are so many good options nowadays for Americans to prepare for their financial futures that it seems incredible that many aren't using any of them.

But that's what the Consumer Federation of America found in a survey it released Thursday. Playing the lottery is seen as the best bet for accumulating wealth for retirement by one-quarter of Americans.

Saving and investing are given little chance by millions of Americans.

Far too few people realize that regular saving and investing -- not high-risk investments of crazy schemes -- from their start in the workplace until retirement could make them millionaires.

Social Security still is considered the mainstay of a retirement plan by far too many people. Instead, they should see Social Security as one part of such a plan. Other assets will be needed to ensure a solid retirement income.

Plenty of information is available to show the benefits of IRAs, 401(k) plans, annuities, market investments and other methods of accumulating wealth.

Playing the lottery could be viewed as a shot at an opulent retirement, but it certainly cannot be considered a reasonable plan.

We would urge parents, employers, educators, friends, mentors and advisers to step up the effort to get people to realize the success a plan of saving offers.

The odds on being happy with a poor to mediocre saving and investment plan are far better than those for hitting the lottery.