The Powerball jackpot has risen to a $750 million annuity, or if you choose, a one-time payout of $465.5 million. If you choose the cash option, after federal and Massachusetts state taxes, you’ll be left with a lump sum of $269,757,250.
For perspective, you could easily buy TWO Boeing 737 MAX 8 airplanes at list price ($121.6 million), but seeing as how the prices have recently tanked ($52.85 million), now would be a great time to pick up five and start your own airline.
Realistically though, if you’re playing the Powerball this week, you’re looking to cash out of your current job, and probably put the working life behind you. In that case…
If you like to ski, consider retiring to Owl Mountain Ranch! A 17,664 square foot ski lodge with 10 bedrooms and 10 full bathrooms on over 60 acres of land right next to the West Buttermilk ski run – you’ll even have your own private entrance/exit, meaning you can literally ski from your home to the slopes and back. And since it’s less than 2 miles from the nearest airport, you don’t even need to buy a vehicle, though you’ll have a 3-car garage should you decide otherwise.
Presuming you spend $33,257,250 on furniture, new skis, 50 sets of silverware for your massive new dining room, wine for the wine cellar with the see-through ceiling, movies for your 20-seat theater, and other various sundries, that leaves you with $200,000,000 million to invest to ensure you never work again. If you put it in a paltry series of Citi Accelerate savings accounts you would earn about $4,720,000 in interest each year, which is $2,735,264.70 after taxes. This is great because your property taxes alone will run you about $1,117,100 yearly.
So if you want to live in a ski bum’s paradise, and earn about $1,618,153,70 a year after income and property taxes for doing nothing – consider playing the Powerball tonight.
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