Winning the Lottery: the big numbers

I want to win the lottery.  Sure, there’s like a 80% chance I’d be broke in 3 years, but it’s a risk I’d be willing to take.

I have it all planned out.  It’s on a spreadsheet even.  Everything from taxes, contributions, disbursements to family members, even the catering budget on my Win Party.

$400,000,000 is up for grabs in the Powerball drawing this week. The net lump payout is projected to be $230 million.

In my generous mind, I’d set aside 20% of charity.  But half of that would be to set up our own Charitable Trust.  The remaining balance is taxable (as far as I know – I’m not a tax expert).  The top federal tax tier is currently 39.6%.

So here are the numbers:

Net:  $  230,000,000.00
Charity  $    46,000,000.00 20.00%
Taxes  $    72,864,000.00 36.90%
Cash Value  $  111,136,000.00

At the end of the day I have $111 million to play with.  Started with $400 million, left with $111 million.

I’m okay with that.

Tell me what you think:

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One thought on “Winning the Lottery: the big numbers

  1. Pingback: Planning | Wealth Fantasy: Winning the Lottery

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