Dream of winning the Powerball jackpot Consider not taking cash AP News

Dreaming of $1.5B Powerball prize? Consider not taking cash

The probability of acquiring a $ 1 billion powerball jackpot is one to 292 and 2 million. However, this has not hindered lottery customers since the dream (November 2) (AP video: Teresa-Crawford).

Power ball lotter y-The current jackpot, $ 1, and 20 million and boards are hung up to Miami, Wednesday, November 2 and 2022's 2 4-hour reflection window. Jackpot rose to $ 1. 2 billion after no one applied all six numbers. (AP Photo/Rebecca Blackwell)

People are a blu e-barder carstore queue that purchases power ball lottery in HOTORNE, California, Wednesday, November 2 and 2022. The amount of the lottery on Wednesday night exceeded 1 billion. (AP photo/ Jae C. Hong).

The signature of the consumer electronics shop will advocate the lottery lottery in New York, Tuesday, November 1 and 2022. Jackpot grew to $ 1 or20 million after no one matched all six numbers to get the jackpot. (AP Photo/ Seth Wenig)

People buy several lotteries for power ball lotteries at a blue bird wine store in HOTORNE, California, Monday, October 31, 2022. After all of the six rooms on Saturday lottery, the jackpot from Monday night lottery grew rapidly. This is the fifth largest jackpot in the history of US lottery. (AP Photo/Damian Dovarganes)

Fil e-Gambler is Saturday, October 29, a stand with a card that can choose a lottery for the circulation of a power ball lottery, ProspEKT on Friday, October 28 and 2022, and in the Pencil Bania market. It is camping. If nobody wins the top prize on Wednesday and November 2, a power ball lottery, the fourth largest jacket lottery in the United States may be the largest in history. (AP Photo/Keith Srakocic)

At a blue-bard liquor store in Kotornia, California, two power ball-game seats are lying on paper on Wednesdays on November 2 and 2022. The largest jackpot lottery in the US history may be the largest in history if no one wins the top prize by lottery lottery on Wednesday night. (AP Photo/JAE C. Hong)

Power ball jackpot is displayed on Wednesday, November 2, 2022 at Hotone, California. The largest jackpot lottery in the US history may be the largest in history if no one wins the top prize by lottery lottery on Wednesday night. On Monday night, Jackpot exceeded 1 billion, as no one applied all six numbers to hit the jackpot. (AP Photo/JAE C. Hong)

Do you dream of a 1. 5 billion dollar prize for a power ball? Think not to receive cash

The probability of acquiring a $ 1 billion powerball jackpot is one to 292 and 2 million. However, this has not hindered lottery customers since the dream (November 2) (AP video: Teresa-Crawford).

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Iowa Desmoins (AP) -You had been convinced that a $ 1 billion powerball jackpot would hit on Wednesday night.

But on Saturday nights, a greater prize of $ 1. 5 billion, players may want to dream of pensions instead of tracks.

No, it's not as sexy as cash, but the pension paid 29 years later will lead to a $ 1. 5 billion prize. Winners who chose cash will receive less than half of that $ 7459 million.

However, the jacket winners almost always receive cash, but the financial advisor says this may be wrong.

Nicholas Bunio, a certified financial planner in Downing Town, Pennsylvania, says that his experience will take a pension because the risk of investing will be significantly reduced.

"Because it allows you to make mistakes here and there," said Bunio. "I don't understand that people can lose. They focus on the possibility of making profits."

Inflation increased interest rates, resulting in a larger investment return, and the difference between cash and pension options further expanded. In the pension, Jackpot's cash is actually invested and the winners are paid for 30 years.

According to the pension plan, the winners will be paid immediately following the annual payment of 29, which will increase by 5 % each year until the total reaches the total of $ 1 or 500 million.

Lottery winners believe that they will not want to wait for the prize, or invest in money, and eventually get more than they provide. The biggest winner, including the buyer of the Mega-Millions tickets in Illinois in July, received a lump-sum payment of $ 780, $ 5 million after acquiring $ 1 or $ 33. 7 billion, is almost always what the biggest winner is. Should I do it?

"There is no bad choice," said Jeremy Kail, a financial advisor in New Barin, Wisconsin.

Keil said the powerball pension provides an investment return of 4, 3 % of the Jackpot prize money.

"If you think you can win the awards of 4 or 3 %, you can get cash." If not, make a pension.

When I bought 5 powerball tickets at Minneapolis's Speedway Gas Stand, 5 8-yea r-old Teri Thomas did not expect to live long enough to receive a pension 29 years later, so it was better for cash prizes. 。

"I like to do all the good deeds right away and feel good about it," Thomas said, adding that he donates to organizations that do medical research for children, help veterans, the homeless and animals.

Chicago's Charles Williams, who buys a Powerball ticket every week and always plays the same numbers, was sure he would receive the cash.

I want all the cash. Nothing in life is guaranteed," Williams said.

Of course, we must remember that the odds of winning the jackpot are incredibly small, 1 in 2. 92 million, or 1 in 2 million. This is why no one has won the Powerball top prize since August 3.

These losses make the Powerball jackpot the third-largest in U. S. history. Saturday night's jackpot falls just shy of the biggest prize ever, $1. 586 billion won by three Powerball ticket holders in 2016.

Officials urge anyone lucky enough to win the Powerball jackpot to consult with a financial advisor to keep their precious lottery ticket safe before coming to the lottery office to collect their giant check.

Matt Chancey, an investment advisor in Tampa, Florida, says this certainly makes sense. But Chancey also urged winners to understand that if advisors get a percentage of all invested money, they have a financial stake in how that money is distributed and need to be clear about potential conflicts.

If you go to a financial advisor and say you want to invest $1 billion, the advisor says, 'We'll take $600 million and we'll pay the taxes on that.' This investment advisor gets the taxes. 'This investment advisor gets a fee for managing this money.'"

Chancey said that a talented investor could probably make more than the annuity pays, but it comes with risks, so advisors should be open about potential gains based on the jackpot winner's choices. Powerball is played in 45 states plus Washington, Puerto Rico and the U. S. Virgin Islands.

Associated Press writers Trisha Ahmed in Minneapolis, Marjorie A. Beck in Omaha, Nebraska, and video journalist Theresa Crawford in Chicago contributed to this report.

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Elim Poon - Journalist, Creative Writer

Last modified: 27.08.2024

Study says 70% of lottery winners go bankrupt · 1. Everyone will ask you for money. And by everyone, we mean EVERYONE. · 2. Becoming a target · 3. The odds of winning the $ billion Powerball jackpot are 1 in million. But that hasn't stopped lottery ticket buyers from dreaming. But almost no winners take the annuity, instead opting for cash. For Monday night's drawing, the cash prize would be $ million, or less.

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