ST. LOUIS - Jackpots like Wednesday's anticipated $400
million-plus Powerball can grant a
lot of wishes. But what if you were the only winner, and you had but one chance
to blow all that money on a single purchase?
A single winner taking the lump sum payout would end up with about $230 million. Opting for the quick cash grab, accounting for taxes, would still leave more than $100 million to invest wisely.
Or spend frivolously, if that's how you roll.
"When you look at $100 million,
you think that well will never run dry," said Mark DiGiovanni, a certified
financial planner in Atlanta. "If you have $100 million and lose it,
that's probably worse than having never won at all."
St. Louis security guard Gerald Mukes, 36, has modest aspirations. He plays Powerball three to four times each month and planned to purchase several tickets before Wednesday's drawing. Pressed for his wish list, Mukes could only muster a $100,000 home, though he did suggest an interest in traveling the world "like a rolling stone" before settling down.
"Nothing superbig," he said. "I understand about being hungry."
But why let a little common sense get in the way your dreams?