A lot of folks are worried about retirement these days. But not in Pittsburgh, whose responsible residents are investing for their future at record levels. Not content to rely on fast-disappearing pension plans or confusing IRAs, Pittsburghers are overwhelmingly turning to the investment strategy that puts the ‘fun’ in mutual fund, otherwise known as the PA Lottery.

We asked local financial advisor Mitch Masterton to explain its attraction:

“If your portfolio performs well, the results can be truly staggering. I used to advise my clients that they needed to have a million dollars set aside by the time they planned to retire. Well, how about a quarter-billion dollars? Show me any other investment vehicle that can promise that kind of return.”

Then there’s the convenience:

“Investors needn’t wait for a quarterly statement to see how their nest-egg is doing, because it’s broadcast live every evening on KDKA. Good luck trying to get that kind of service from Vanguard or Charles Schwab.”

Another reason for its popularity is the low entry bar:

“You get to choose exactly how much you want to invest, which can be as little as a dollar, or your entire paycheck.”

The key to success, according to Mitch, is to stick with it:

“Once you get started, planning for the future becomes almost like an addiction, which is a very good thing when you consider how little Social Security will provide.”

It’s also found favor with people who have already retired:

“Thanks to the PA Lottery, area seniors who are uncomfortable with computers can do their investing at the local GetGo, while other customers happily wait in line to pay for their coffee and gas.”

For those who prefer a more traditional ‘brick-and-mortar’ brokerage firm, Mitch recommends Rivers Capital, conveniently located on the North Shore near Heinz Field and the Carnegie Science Center.