As of October 22, 2018, the jackpot for the Mega Millions Lottery is $1.6 billion. No need for zeros as the “billion” attached to the number is enough for anyone to choke on their breakfast. Since no one won the last drawing of $970 million, the new drawing will take place on Friday October 26, 2018. If you win and decide to take the lump sum, then your take home winnings will be approximately $687 million, after taxes. That means 687 million bucks to go nuts with.
It’s an amount of money that is difficult to wrap your arms around, and in some ways, is bound to screw up your life. I don’t mean to be a cynic, but this is beyond the pale. There is a chance of multiple winners, but in the case of one winner, there really needs to be a strategy for the Lottery Commission and others to assist those who win.
In the meantime, it might be advantageous to brush up on your financial acumen just in case you win. It would be a tragedy or not if you walked into the meeting with JP Morgan and not know the difference between investments in Private Equity, Real Estate, Fixed Income, Cash, Hedge Funds, etc. But with that amount, you basically have “FU Money” (look it up) and could walk away and still have a line of prestigious firms kissing your ass.
It would be a good idea to read some investment articles on how to invest with that money and what you should stay away from. There is plenty of advice out there, and with a 1% fee, every expert, neophyte, amateur and complete hack will be breathing down your neck for a piece of the action.
I’m hesitant to think what the sum will be if no one wins on this drawing and if its possible, but with things going as they have, its not out of the question. Good Luck and Godspeed!