It's not linear $10,000 does more for you if you're making $50,000 than if you're making $1 million. While people's day-to-day moods stop getting better after $75,000 in household income, Deaton and Kahneman find there's absolutely no drop-off point for life satisfaction. But they're misreading the study that the finding came from - which actually says that the more money you have, the more satisfied you are, no matter how rich you get.ĭylan Matthews explained the study in more depth. Many people have heard that money doesn't buy happiness above $75,000 or so. The money you'd save in taxes by taking the annuity works out to a little more than you'd make by investing the lump sum in a reasonably conservative way.Īs Vox's Matt Yglesias wrote, "A risky investment strategy might work well, but risky investment strategies are, well, risky, and lottery players do not have a great track record of managing risky investments."ĭon't expect the money to make you feel happier - but it will make you more satisfied with your life. You can expect a reasonable return on investment if you invest conservatively if you invest in high-risk, high-reward things (like the Powerball itself), you can gain more or lose more. The overwhelming majority of Powerball winners take the smaller lump sum prize instead of accepting the full prize paid in 30 annual installments.Īnd some advice on the internet will tell you that they are correct - because if you expect a good return on investment, you can make more money by investing the lump sum all at once.īut you can't expect a good return on investment. If you think you beat them, you should probably check the numbers at the top of this post again.īut if you actually did win the Powerball jackpot - or you would just like to pretend you did - here are some tips: The odds of matching at least one number (and therefore winning at least $4) are pretty good: 1 in 25.īut the odds of matching all five numbers plus the Powerball number are 1 in 292,201,338. What to do if you've won the Powerball jackpot The jackpot will be split among the winners. Winning tickets were sold in California, Florida and Tennessee. To win the full $1.5 billion jackpot (or take a lump sum of $930 million), you must have all six numbers correct. Thank you.The winning numbers for the record $1.5 billion Powerball jackpot are 08, 27, 34, 04, 19, and Powerball number 10. While we are very grateful for the wonderful wishes and encouragement we've received, it is not our intention to become public figures, and we ask for and appreciate privacy going forward. While many decisions are still to be made, we have committed nearly all of this new resource to a Trust and to charities that are important to us. We have engaged a team of advisors to educate and guide us through this process so that we can be good stewards of these new resources. "We are thankful and blessed for the rare gift that has been placed in our care. The Acostas respectfully declined all requests for media interviews and did not wish to have any additional information or photos released, though they did provide this statement: In total, California players scooped up $386 million worth of Powerball tickets during the historic run, and the jackpot generated an estimated additional $150 million for California public schools. lottery history and became a nationwide phenomenon, as players rushed out to buy tickets so they could be a part of history. The lucky retailer was also a big winner! The Chino Hills 7-Eleven location received the maximum bonus of $1,000,000 for selling the winning ticket. The couple has opted to take the cash option amount of $327.8 million before federal taxes. Their ticket matched all six winning numbers. The Acostas purchased their winning ticket at the 7-Eleven located at 4092 Chino Hills Parkway in Chino Hills (San Bernardino County). "We couldn't be happier for them and are thrilled they took the time to assemble the right team before coming in to claim." "We finally know who our mystery winners are! It may have taken six months for them to come to one of our offices, but these winners did just what we tell all our winners to do - they read our Winner's Handbook and then assembled a team of legal and financial advisors to help them make the most of this windfall and prepare them for their new life as Lottery winners," California Lottery Director Hugo Lopez said. The other two tickets were sold in Tennessee and Florida. They were one of three big winners of prizes worth $528.8 million from the January 13th Powerball jackpot of nearly $1.6 billion. California – After a wait of a little more than six months, Marvin and Mae Acosta, the winners of the largest lottery prize in California Lottery history, finally came forward to claim their prize.
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