A lucky person who bought a ticket in Arkansas will take home a whopping $1.817 billion Powerball jackpot, which has a cash option of $834.9 million.
The Christmas Eve prize is the second-largest U.S. lottery jackpot ever won and the largest Powerball prize this year, according to a news release from the Multi-State Lottery Association.
You can get the full amount but it’s split into payments for like 20 years or something. The idea being that is half now is more valuable than double later.
I understand the instant payout’s attraction. In this case, it makes you nearly a billionaire. It solves every financial problem a normal person has immediately. Take the payout, buy a “modest” $1 million home, live lavishly by spending $1,000 every day for 90 years straight, and still have $800 million left - still nearly a billionaire
Realistically you’d probably be taking home $400-500M after taxes but thats still enough to never need to work again and pretty much buy whatever you want.
If you invested $450M and it only earned a low 5% APR, you’d make $22M after just a year and $124M after 5 years which would be enough to live on without ever even touching the principle.
$1 million is just a normal home in most of the populated parts of the US. Literally 3 bedroom, 2.5 bath, 2000 sq ft.
Real estate prices are out of control.
No it’s not. It is that way in some parts, but no where near most.
And it is if you invest it reasonably.