Americans have spent heavily on lottery tickets in recent years, hoping to win billion-dollar prizes. However, it’s important to consider the odds of winning and compare that to how investing may grow your money. My grandmother enjoyed playing the lottery for fun but opted for long-term investing to build wealth.

The popularity of the lottery far surpasses that of investing in the stock market. About half of Americans play the lottery, spending $103 billion annually, while only 21% directly own stocks. Playing the lottery may seem easier, but the chances of winning big are slim, leading to potential obstacles in building true wealth.

Spending on the lottery could hinder wealth building in the long run. Instead, investing even small amounts in an S&P 500 index fund, which has a track record of delivering 10% annual returns, could grow significantly over time. Investing in index funds like SPDR S&P 500 ETF Trust offers exposure to quality stocks and potential growth opportunities.

While buying a lottery ticket for fun is okay, focusing on long-term investing is key to building wealth. The Motley Fool Stock Advisor team identified 10 best stocks for investors to buy now, excluding SPDR S&P 500 ETF Trust. Their total average return is 1,049%, outperforming the S&P 500. Don’t miss out on the latest top 10 list by joining Stock Advisor.

Read more at Yahoo Finance: Which One Really Builds Wealth?