Trekking Out for My Share of That $1.725 Billion
By Jim Bauer
@porwest (91092)
United States
October 11, 2023 10:03am CST
Being the frugal guy I am, it seems absolutely counterintuitive the amount of money I have spent on Powerball tickets in the past couple of weeks as the prize amount nears $2 billion.
But I have spent a crap ton. Nothing worse than stepping into a casino and blowing $200 I suppose, which we did this past weekend when we were visiting with my dad in Perryville, MO and trekked over to Cartersville, IL where there's a new casino.
And I intend to spend a crap ton more. Why not? I mean, it's a fool's game for sure. But at the same time, the chance at $1.725 billion is just too much to pass up.
By my estimation if I took the lump sum, which I would, I would take home roughly $517.5 million after taxes. Of that I'd take $50 million off the top and put it into "for cash" investments.
$40 million in dividend income stocks to earn $2.4 million with the remaining $10 million for "blow money."
The remaining $467.5 million would be invested and would earn somewhere around $28 million a year. If I play my cards right and only spend the additional $2.4 million a year from the $40 million set aside, I should be a billionaire in about 19 years. Maybe sooner if I account for compounding.
So, I am off to get some money for my wife's gambling trip this weekend, and I'll be stopping off at several gas stations in the area picking up tickets.
Wish me luck. With the odds being 1 in 291 million, I am going to need all the luck I can muster.
***Image has nothing to do with the lottery. Just a picture from our last camping trip I thought I'd share with y'all.
13 people like this
13 responses
@FourWalls (68132)
• United States
11 Oct 23
Actually, the picture has everything to do with the lottery. Win it and you’ll be on a permanent camping vacation. 
6 people like this
@1creekgirl (41447)
• United States
11 Oct 23
Other than me, I can't think of anyone else who should win.
3 people like this
@Marilynda1225 (82807)
• United States
11 Oct 23
It really would be nice if you won and could make all those dreams come true
4 people like this
@porwest (91092)
• United States
11 Oct 23
Unfortunately, this is a United States only lottery. No way to buy tickets except to be state side. Incidentally, it would be interesting to know if a foreigner visiting ever won how that would work. So far as I know it has never happened.
2 people like this
@porwest (91092)
• United States
11 Oct 23
It all comes down to how many tickets are sold between drawings and the percentage of possible number combinations out at any given time before the drawing. Shockingly, when the jackpot was $1.2 billion, only 20% of all possible number combinations were sold. When the number of tickets out there have about 80% or more of the possible number combinations, that's usually when someone wins. But of course, it starts over after each drawing.
Which just provides another tell just how hard it is to actually win the darn thing at all.
1 person likes this
@moffittjc (121612)
• Gainesville, Florida
14 Oct 23
I disagree. I think your picture has a lot more to do with the lottery than you think! Because if you won, you would be doing a lot of traveling, and a lot of camping. Maybe you would upgrade your ride, or maybe not, but you would continue to do what you love.
1 person likes this
@moffittjc (121612)
• Gainesville, Florida
15 Oct 23
@porwest I’m pretty sure I would do the same.
1 person likes this
@porwest (91092)
• United States
15 Oct 23
@moffittjc You are exactly right about that. Besides, I have always held the mantra...even if you are rich. Look and act poor and keep 'em guessing. lol
1 person likes this
@LindaOHio (178869)
• United States
12 Oct 23
Great picture. Someone in California won the Powerball lottery. Sorry! I think hubs bought some tickets; and I just told him that someone won. Too bad, so sad. Better luck next time.
1 person likes this
@LindaOHio (178869)
• United States
12 Oct 23
@porwest Congrats on the $7. Hubs hasn't given me his tickets yet to check. We're usually lucky if we match 1 or 2 on the whole ticket.
1 person likes this
@porwest (91092)
• United States
12 Oct 23
@LindaOHio That's my luck most of the time. I was actually surprised to win anything at all. Hope your tickets do better than mine.
1 person likes this
@porwest (91092)
• United States
12 Oct 23
Yeah, I saw that this morning. Of the tickets I bought online I won a whopping $7. I haven't checked the paper ones yet. But of course the big one won't be in the pile. If I actually thought I was going to win I'd be sorely incorrect anyway. lol. Seems to me the last couple of big ones were in California. I could be wrong about that. It just seems like it.
1 person likes this
@porwest (91092)
• United States
12 Oct 23
@Beestring Perhaps. I will keep my fingers crossed.
1 person likes this
