Yes, that is a little mind boggling to say the least. (Powerball, if you’re late to the party.) I was listening to the radio this afternoon and they were interviewing people about the “what if you won” scenarios and they noted that it really seemed to be too large a number for folks to wrap their heads around.
I did some quick math – cash option, taxes, split with my brother – chuck the rest into a money market account and you’re looking at 17K a month in income. Go crazy and put half in a high yield muni bond fund? 268K a month. In two months that would be enough to tear down and rebuild my house. Six months – car, beach cottage and anything else I could possibly need – pretty much forever – is covered.
After that it is a lifetime of “who needs money, cause I got some!” Honestly, I can’t really figure out how I could possibly spend that much money on myself. (Don’t get me wrong, I’d like to try.)
They’re saying on the radio that there’s a good chance it will be a billion dollars by the end of the day.