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$365 million dollars…

Written By: Gary on February 19, 2006 2 Comments

I can’t even imagine winning this much money. 15, 17, 43, 44 and 48, with a Powerball number of 29,It’s the biggest pay-out ever, $363 million was the highest before but that was two winning tickets. According to CNN.com ‘the cash option is $177.8 million, or $124.46 million after taxes. On the installment plan, over 30 years, the first payment would be $6,507,986 after taxes.’

As long as you you don’t blow it, it seems like you’d be better off taking the $124 million and earn the interest over the 30 years. Not even factoring in the compounding if you could get 5% a year return on $100 million you’d get $6 million a year, that’s pretty much the payment you’d be waiting for (if you did a little better on the interest it’d be a lot more). Over 30 years that’s $150 million more. Even if you didn’t get that interest rate you’d still get significantly more even at 3%.

What to buy for family and friends:

  • Move all of them into new paid off homes.
  • Same for hybrid cars.
  • New Apple computers and iPods for everyone!
  • TiVo’s galore. (To go with new A/V systems)
  • College educations for the kids (single dorm rooms and new laptops when needed).
  • Big extended family vacations every few years (cruises, exotic locations, the olympics, etc.).
  • Mom would get to quit work.
  • I’d have a few vacation homes: London/Miami/Costa Rica. Or I guess I could just live in one of them.
  • Lots of new stuff at the places I volunteer (or have volunteered). New office stuff (tech), kids stuff and more. We always wanted a hot tub for the 24 hour crisis line in East Lansing…
  • A “LaPointe Computer Wing” for my old school might be nice too.
  • Some games/states put a cap on the prize the seller store can get. With this game it’s normally 1% but it’s a max of $50,000. So a nice kickback for them if there is a limit.
  • Found some foundation/fund for other school and computing scholarships.
  • I’d travel and compute for fun and relax.
  • I’m sure there’s more I haven’t thought of…

    I’d be reasonable in all this stuff, the new homes and cars wouldn’t exceed peoples ability to pay property taxes, insurance, utilities, maintenance and stuff like that (unless it was $300 million, then they wouldn’t have to worry about that…).

    I keep adding to this list but that’s ’cause it’s all they keep talking about it on CNN…

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    2 Responses to “$365 million dollars…”

    1. Gary Said... says on: 22 February 2006 at 5:18 pm

      Eight Winners Spilt the $365 Million

      So eight people at a meat packing plant split the $365 million PowerBall prize. After taxes it was about $15 million a piece! That’s great I’d hate to see one person get all that (unless it was me) it’s just so much money. It’s going to affect so many …

    2. d.w. says on: 25 February 2006 at 3:13 am

      You forgot “Money bath!”


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