Trekking Out for My Share of That $1.725 Billion

Tweet

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.