Kevin Wade Johnson
2023
A lot is two words, not one; the easy way to remember that is the expression "a whole lot"; you can't insert a word inside a word, only between them. Lot goes back to an Indo-European root *qleu-/qlau-, meaning a twig, forked branch, or a hook, with the sense of one of those used in drawing lots—lots in that sense being much like ping-pong balls in a lottery. (No coincidence: same root, sense and meaning.) The word is mostly used here in real estate, in the derivative sense of a plot (portion) of ground. Allot means to assign, apportion, or distribute, and has the same root as lot; it's mostly seen in some set expressions, especially allotted span (i.e., lifespan). So I hope that helps you remember each, and that your allotted span has a whole lot of years.
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