Think you’re a sure bet to win an estimated $1.2 billion Powerball jackpot. national kprc2 click2houston powerball
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“It allows you to make a mistake here and there,” Bunio said. “People don’t understand there is a potential for loss. They only focus on the potential for gain.” Lottery winners who take cash either don’t want to wait for their winnings or they figure they can invest the money and end up with more money than an annuity would offer. It's what the biggest winners nearly always do, including the buyers of a Mega Millions ticket in Illinois in July who received a lump sum payment of $780.5 million after winning a $1.337 billion prize.Keil said Powerball’s annuity assumes a 4.3% investment gain of the jackpot’s cash prize.
“And I’d rather get all my good deeds done right away and feel good about the giving,” Thomas said, adding she would donate to groups that do medical research for children as well as help veterans, homeless people and animals. Of course, it’s good to keep in mind that your chance of winning the jackpot is incredibly small, at 1 in 292.2 million. That’s why no one has won Powerball’s top prize since Aug. 3 — resulting in 38 consecutive draws without a jackpot winner.
Matt Chancey, an investment adviser in Tampa, Florida, said that certainly makes sense. But Chancey also urged winners to understand that if advisers earn a percentage from the investment of all that money, they have a financial stake in how the money is paid out and should be clear about any potential conflict.
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