6. Why the Stock Market Isn’t a Roulette Wheel

Before I help you invest your money, I have to talk about a casino billboard I saw over a busy Minneapolis freeway. It was aimed straight for the ordinary American’s underbelly, with giant words asking passing motorists, “Does your 401(k) need some more Ks?”

The obvious solution posed by the billboard, of course, was to stop worrying about your meager little retirement fund and instead head for the casino, win, and then fill that 401(k) to the brim. No fuss, no muss—voilà, instant retirement!

Too bad it doesn’t work.

As much as we savor the fantasy of instant riches, we know that if we spend $1 at the casino, we might get $1 worth of fun and maybe even a few bucks, but no Ks for the retirement account. ...

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