By Todd Northrop
The multi-state Mega Millions lottery game continued growing its jackpot toward frenzy levels last night.
After nobody won Friday night's grand prize, the Mega Millions jackpot grew to an estimated $309 million — the largest since the near-record-setting $648 million jackpot on Dec. 17, 2013, and the 23rd-largest United States lottery jackpot of all time (see full list below).
The lump-sum cash value rose to a massive $169.5 million — the 20th-largest U.S. lottery cash value in history.
Tuesday's Mega Millions jackpot is the accumulation of 18 consecutive drawings without a top prize winner. The current jackpot run-up started on January 7 as a $15 million grand prize — it has been more than two months since Mega Millions has had a jackpot winner.
Lottery players can see an after-tax analysis of the current Mega Millions jackpot by visiting USA Mega's Jackpot Analysis page.
Players should note that jackpot amounts are conservative estimates provided by the lotteries, and are often somewhat higher by the time the drawing occurs. Occasionally the official jackpot estimate is raised even before the drawing, due to larger-than-expected sales.
In Friday night's Mega Millions drawing, there was no jackpot winner, but 3 lucky players matched the first 5 numbers for a $1,000,000 prize: 1 from Massachusetts, 1 from New York, and 1 from Texas.
Unfortunately, none of the second-prize winners purchased their ticket with the Megaplier option for an extra $1 per play. If they had, their prize would have been increased to $4 million, because the Megaplier number drawn was 4.
The Megaplier option is not available in California, because the fixed nature of the prize increase offered with the Megaplier is not compatible with California's pari-mutuel payouts. By law, California awards all prizes on a pari-mutuel basis, meaning the prizes will change each drawing based on the number of tickets sold and the number of tickets that won at each prize level.
Also, a total of 51 tickets matched four of the first five numbers plus the Mega Ball to win a $5,000 prize. Of those tickets, 4 were purchased with the Megaplier option, increasing the prize to $20,000, and 5 were sold in California, where the prize is worth $10,073 this drawing.
The Mega Millions winning numbers for Friday, March 7, 2014, were 11, 13, 51, 57, and 69, with Mega Ball number 1. The Megaplier number was 4.
Following the Friday drawing, the Mega Millions annuity jackpot estimate was raised $39 million from its previous amount of $270 million. The cash value was raised by $18.5 million, from its previous amount of $151 million.
Mega Millions is currently offered for sale in 43 states, plus Washington, D.C. and the U.S. Virgin Islands. Drawings are Tuesdays and Fridays at 11:00 pm Eastern Time. Tickets cost $1 each.
A 44th Mega Millions state may be added later this year, as the state of Wyoming has approved a new state lottery with the intention of joining multi-state lottery games. (See Wyoming officially becomes 44th state with a lottery, Lottery Post, Mar. 14, 2013.)
The Mega Millions winning numbers are published at USA Mega (www.usamega.com) minutes after the drawing takes place.
Top 25 United States lottery jackpots of all time
Tuesday's Mega Millions jackpot currently stands as the 23rd-largest lottery jackpot of all time in the United States. That position may rise before the drawing, as lotteries are typically conservative in their initial estimates, and brisk sales may push the jackpot estimate higher by draw time.
- Mega Millions: $656 million, Mar. 30, 2012 - Illinois, Kansas, Maryland
- Mega Millions: $648 million, Dec. 17, 2013 - California, Georgia
- Powerball: $590.5 million, May 18, 2013 - Florida
- Powerball: $587.5 million, Nov. 28, 2012 - Arizona, Missouri
- Powerball: $448.4 million, Aug. 7, 2013 - Minnesota, New Jersey (2)
- Powerball: $425.3 million, Feb. 19, 2014 - California
- Powerball: $399.4 million, Sep. 18, 2013 - South Carolina
- Mega Millions: $390 million, Mar. 6, 2007 - Georgia, New Jersey
- Mega Millions: $380 million, Jan. 4, 2011 - Idaho, Washington
- Powerball: $365 million, Feb. 18, 2006 - Nebraska
- The Big Game: $363 million, May 9, 2000 - Illinois, Michigan
- Powerball: $340 million, Oct. 19, 2005 - Oregon
- Powerball: $338.3 million, Mar. 23, 2013 - New Jersey
- Powerball: $337 million, Aug. 15, 2012 - Michigan
- Powerball: $336.4 million, Feb. 11, 2012 - Rhode Island
- Mega Millions: $336 million, Aug. 28, 2009 - California, New York
- The Big Game: $331 million, Apr. 16, 2002 - Georgia, Illinois, New Jersey
- Mega Millions: $330 million, Aug. 31, 2007 - Maryland, New Jersey, Texas, Virginia
- Mega Millions: $319 million, Mar. 25, 2011 - New York
- Mega Millions: $315 million, Nov. 15, 2005 - California
- Powerball: $314.9 million, Dec. 25, 2002 - West Virgina
- Powerball: $314.3 million, Aug. 25, 2007 - Indiana
- Mega Millions: $309 million, Mar. 11, 2014 - Preliminary estimate, not won yet
- Powerball: $295.7 million, Jul. 29, 1998 - Indiana
- Powerball: $295 million, Aug. 25, 2001 - Delaware, Kentucky, Minnesota, New Hampshire
For those keeping score, the number of jackpots in the top 25, by lottery game, are:
- Mega Millions: 9
- Powerball: 14
- The Big Game: 2
The Big Game is the original name of Mega Millions, from the game's first drawing on Sep. 6, 1996 through May 14, 2002. The name was changed to Mega Millions starting with the May 17, 2002 drawing.
Top 25 cash value jackpots
Since many lottery winners collect their winnings in cash, the lump-sum payout is an important measure of what a winning ticket could be worth.
Looking at the cash value, the upcoming Mega Millions jackpot ranks as the 20th-largest cash value in U.S. history.
- Mega Millions: $471 million cash, Mar. 30, 2012 ($656 million annuity) - Illinois, Kansas, Maryland
- Powerball: $384.7 million cash, Nov. 28, 2012 ($587.5 million annuity) - Arizona, Missouri
- Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
- Mega Millions: $347.6 million cash, Dec. 17, 2013 ($648 million annuity) - California, Georgia
- Powerball: $258.2 million cash, Aug. 7, 2013 ($448.4 million annuity) - Minnesota, New Jersey (2)
- Mega Millions: $240 million cash, Jan. 4, 2011 ($380 million annuity) - Idaho, Washington
- Mega Millions: $233.1 million cash, Mar. 6, 2007 ($390 million annuity) - Georgia, New Jersey
- Powerball: $227.8 million cash, Feb. 19, 2014 ($425.3 million annuity) - California
- Powerball: $224.7 million cash, Aug. 15, 2012 ($337 million annuity) - Michigan
- Powerball: $223.3 million cash, Sep. 18, 2013 ($399.4 million annuity) - South Carolina
- Mega Millions: $214 million cash, Aug. 28, 2009 ($336 million annuity) - California, New York
- Powerball: $211 million cash, Mar. 23, 2013 ($338.3 million annuity) - New Jersey
- Powerball: $210 million cash, Feb. 11, 2012 ($336.4 million annuity) - Rhode Island
- Mega Millions: $202.9 million cash, Mar. 25, 2011 ($319 million annuity) - New York
- Mega Millions: $194.4. million cash, Aug. 31, 2007 ($330 million annuity) - Maryland, New Jersey, Texas, Virginia
- Mega Millions: $185 million cash, Nov. 15, 2005 ($315 million annuity) - California
- The Big Game: $180 million cash, May 9, 2000 ($363 million annuity) - Illinois, Michigan
- Powerball: $177.3 million cash, Feb. 18, 2006 ($365 million annuity) - Nebraska
- Powerball: $170.5 million cash, Dec. 25, 2002 ($314.9 million annuity) - West Virginia
- Mega Millions: $169.5 million cash, Mar. 11, 2014 ($309 million annuity) - Preliminary estimate, not won yet
- Mega Millions: $168 million cash, July 2, 2004 ($294 million annuity) - Massachusetts
- Mega Millions: $167.7 million cash, Feb. 22, 2008 ($275 million annuity) - Georgia
- Powerball: $165.8 million cash, Aug. 25, 2001 ($295 million annuity) - Delaware, Kentucky, Minnesota, New Hampshire
- Mega Millions: $165.2 million cash, May 4, 2010 ($266 million annuity) - California
- Powerball: $164.4 million cash, won Oct. 19, 2005 ($340 million annuity) - Oregon
I wonder how many quit playing due to california usually winning all the time. It makes the lottery less credible if the same state always wins.
lololol.....what would they do if they moved to CA. and STILL didn't win ???
I guess some states like Maine can scream conspiracy
LOL. IKR. I neither get nor see this 'thing' with California wins. NJ, FL, and MI seem to get their fair share of wins.
It's slowly creeping up again. Time to have some fun and win some money.
What'd you guys think, MM roll for another 4 weeks? I think 8 more draws should yield a nice tidy sum!! : ))
Based on the link below, i'd say the list of winners for the most part are diverse in all the right ways. Location, Men, Women, White, Asian, Black, Hispanic, Young, Old, Married, Single, Regular players, First Time players, Group/Pool players, Retired Players, Hard Working Players, Unemployed, Struggling, Quick Picks, Chosen Numbers, One Ticket, Multiple Tickets..... Just the way it should be!!! Absolutely no complaints or whinning here. Except of course, when's my time? hahaha
www.megamillions.com/winners-gallery
I am willing to wager the next winner will NOT be a resident of
CA,,,,I am going to vote for Texas !!!
Kinda what I was thinking. LOL.
About $100,000,000 in the bank after Federal Redistribution will be just fine for a spring time fling!
I don't think this current run will last another 4-weeks but 4-5 more draws is possible. It is on pace to break the previous annuity record with 5 more draws and a 6th draw might knock on the elusive billion dollar jackpot.
WOOHOO!!!!! Come on $1 Billion!!!!!!!!
Well those of you that don't want to think, can go back to watching the idiot box that lies to you. It's very apparent that most of the naysayers here are probably 2 time obama voters.
Go California! Show these crybabies how its done.
Boycott MM's!
That's right!! Waiting for the big one too Teddi....I think there's a certain prize threshold that if it passes, will certainly hit a Billion. I think once it passes the $600 million + draw and no one wins, it will definitely hit the Billion mark. That's when we'd see what a real buying frenzy looks like!!
Yes Dp.....that would look very nice in my account !!!! Only "fling"ing I would be doing is dropping a few large dollars on a gratuity for a meal tab, 2 new vehicles and vacation expenses
I will win the this jackpot!!!! I know it. When I win it, there will no excessive, no extravagant and no arrogant lifestyle on my part. I will be responsible, kind and always try to make wise decisions with my money. This approach will help bring happiness from the money but happiness must first come from my heart.
I'll wager a few bucks that the winner comes from TEXAS!!!!!!
Yeeeeee Haaaaawwwwwwww!!!!!!
I love the positive affirmation. Right on. Good luck to you!!!
I wonder which idiot box told you that every crazy conspiracy theory that pops into your head needs to get validated. Don't get your panties in a bunch because others the rest of us won't put on a foil hat and join you Whiner-ville. I mean you do see that other states produce winners, don't you? So why ignore the factual evidence simply because you want to push forward with your conspiracy agenda? If you think it's all rigged the answer is very simple...don't play or report your 'findings' to the AG.
No need to try to insult people simply because they're crazy enough to understand a little mathematical invention called statistics.
I'll see your wager and hope U lose
Wow really!? tin foil hat, conspiracy theory!? All you have to do is look it all up! When facts are called conspiracy theories, you then need help.
So on to statistics, if the big national lotteries were TRULY random, and all that, you want to explain californias 60 million dollar PB win on march 1st shortly after winning a 400 million jackpot? I also don't buy the "theres more people" in so and so state. This ain't no way close to random.
PPL really believe California is rigging the lottery. Cant make this up. Man I'm dying laughing over here. stop it!
I think pickone4me is one of those poor souls thats sold his/her soul to the
and is still waiting for his/her winner that will never come
If I can pick 5 with megaplier, once every week, I could really care less who wins the JP, no matter how large it might be.
What's going with you dude? No really, lets talk about it. What's really wrong? I read all your post on this conspiracy issue and its clear you are bat s*** crazy. I now find it to be as funny as it is sad. Do even realize how ridiculous you sound? I think you must. I also think there is no way you actually believe that which you are writing, simply trying to get a rise out of people. Cut out the non-sense man. There are many other contructive, funny, informative ways to contribute to this post. Enough with the silliness dude.
I buy 30 million tickets. You buy 5 million tickets. Who is more likely to win?
It really doesn't get much simpler than that.
It really is that simple. I think everyone gets it, but there are folks who simply love conspiracies.
See now THAT'S a theory I can get behind. He was told he was going to win and since he hasn't it must be California's fault. That definitely makes more sense than anything he's posted thus far.
I would like oregon to get a cool million dollar winner from this drawing and it be me of course. I do not need the jackpot just a million.-weshar75
As said before, if you feel so strongly about it, present your case and corresponding evidence to the Attorney General. No one is stopping you. Maybe they can explain 8th grade math to you. I have neither the time nor the inclination.
If you're doing this simply for attention, then I truly am sorry that your life is such that this is what you have to resort to.
If you're doing this because you honestly believe it to be true, then I'm really sorry that the educational system failed you.
Either way I feel sorry for you. But I don't pity you enough to pretend to see something that isn't there. If you're this incensed and frustrated, stop playing. That'll teach them.
I'm sorry you can't see when you're being bamboozled. It's funny that you talk down to me, and insult me because I notice something that you think isn't happening. I don't care to see my money going to californians. I'd try to explain other stuff, but I think you're a lost cause.
Oh beeehave.
I think you just have to igore him from now on. There's nothing more you or anyone else can say that will seep through. I think he's way too far out to sea at this point. It is what it is Teddi. Just let it be. You tried. I tried. Many others have has well. It simply is what it is. I'm actually here laughing like crazy!!!
I've tried in the past to explain this, but this i probably the best and simplest way to put it.
How close have ya'll come to actually winning a huge jackpot?
In 2012 there was a PB JP won by someone from Iowa the next 2 winners were from other states then the next 2 JP winners were from Iowa. 3 out of 5 winners were from Iowa. Wonder if people that were not from Iowa quit playing PB then.
"I don't care to see my money going to californians."
If the jackpot winner was in the same state as you, what difference would it possibly make for you? Would you feel proud someone from your state won? They will get the money not you. Once they get the lottery money they might even move to another state or they might even move to another country.
There was a jackpot winner less than half an hour from where I live and you know what I got from the winner being in the same state as me?
Answer: Absolutely nothing.
There is no consolation prize for the jackpot winner being in the same state as you.
If I didn't win. I couldn't care less what state the winner is from.
I refuse to believe you are dead serious. Either you are laughing your butt off or are intentionally trolling. In any case, kids stay in school. Please.
So...$350 million by Tuesday?
Hopefully it passes that for friday if it rolls on tues.........just ain't like the old days anymore.
Whoops, no winner on Friday. Will focus on the Pick 6 and Pick 5, until Tuesday March 11,2014.
hahahah....My crystal ball says it rolls for Tuesday and the Friday pot for $360 Million. Too bad my crystal ball doesn't give winning numbers huh??/
Two years ago in March we had ourselves a nice size jackpot , hopefully it keeps on rolling over the next couple weeks.
Then you better tweak it because I need those numbers. LOL.
I hit 3 numbers once.
5 more rolls and we will be knocking on a billion dollar annuity.
Unless someone decides to go and crash the party with a win..
I only buy 1 & I won't quite because CA. Keeps wining
HTX:
Crackers would be fine. Cheese would be devine, who can afford wine these day's????????????????????????
During the Clinton Day's, even a blind squirrel could find NUTS>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>!
During the Bushes Day's even a duck could find WATER>>>>>>>>>>>>..........................................!!!!!!!!!!!!!!
During these Day's not even a dog can find a BONE>>>>>>>>>............................!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
The "only" thing left that you can put NUR retirement nest egg is a "BIG" lottery jackpot win>wan>WON$$$$!
KD:
U Cali People R>>RICH$$$$$$$$$^tech valley, movie stars>>>now U want 2 win all of the JACKPOTS!!!!
I guess you never heard of Stockton,Modesto & Merced. Ya those are rich areas
get over yourself trailer-park general
KD:
Yes, heard of Stockton.......ect..........&..................ECT......! Ya what difference does it make??????????????????
Psyko ant-no trailer-park general.........................YET.......! Yea must knock-knock me R people with trailer's<<!
If you win you could finally afford to move you & sister/wife out the trailer!
Hey. Don't mess with our Psykomo!
congrats
The closest I ever came was a few years ago, I nailed all 6 numbers in the PB, unfortunately, they were on different lines of a $5 ticket. This last drawing for the MM I had 4 numbers, yet again on different lines of a $5 ticket.
This March MM roll will top off between $450m & $780m. I promise Ill make good use of the money.
hehehe yeah I see it rolling to $450m + ......
but I still say VA is long over due for another winner
Ive had 4 numbers seeral times. Ive had 3 numbers +powerball several times. Im heading to complete number fulfillment in this present MM roll. I promise Ill make good use of it.
I agree that VA is overdue (so is DC). There have been a number of 2nd place winners in PB and MM recently.
thank's 2 all who play "only" JACKPOT 2 WIN "only">>>>>>>>>>>>>>>>>>>>>>>>>>>>$$$$$$$$$$$$!!
THANK's 2 ALL WHO know ....PSKYO...IS CRAZY!!!!! >>>>>>>>>>>>>>>>>>>>>>>>>>>>$$$$$$$$$$$$!!
GUT'$ >>>>GLORY'$>>>>>>JACKPOT'$$
>>>>>>>>>>>2014>>>>>>>>>>>>>
The one you are talking about was for an annuity of 656 million with the cash value being 471 million. It was the result of 18 rollovers just like the current one. Ticket sales for the 2012 one for the 18 drawings were 838 million and for this one are 463 million. Fla also wasnt selling MM tickets in 2012 and have since then joined in. I know this has been a harsh winter and i am sure that has for some of the drawings affected ticket sales. Looks to me that when they changed the odds of winning the JP that a lot of people either quit playing it or dont play it now until the JP get very big.
C'mon dude- we Californians did not raise a stink when we entered the PB game and lost for months on end. In fact we waited for years to " contribute" to the game, just because we have won a few does not mean the game is rigged. By the way, Californians contribute mightily to both games. We just getting our investments back. You ought to be happy for us.
Repeat after me " If you happy and you know it...clap your hands".
You right psykomo- People think " Golden State" and immediately think that one could simply dig a hole in their backyards and strike Gold.
You should see the amount of panhandlers in San Francisco- they call it their " jobs".
I'll try to keep it simple and direct, so perhaps you'll get it.
For the $400 million drawing players in California bought 11.2% of the tickets. If you don't understand that that means there was an 11.2% chance the winning ticket would be sold in Califonia then you're a moron.
For the $60 million drawing players in California bought 9.4% of the tickets. If you don't understand that that means there was a 9.4% chance the winning ticket would be sold in Califonia then you're a moron.
Incredibly simple math tells us that the chances of both winning tickets being sold in California was a hair over 1%.
If you think that you've got a chance of winning a game with odds of 1 in 175 million and also think that something happening when there's a 1 in 100 chance it will happen indicates something unusual, then you're a moron.
It depends on your definition of huge, but I've definitely come within 50 miles.
Plain or Peanut?
$309 Million woo hoo
LOL
Todd Vader has spoken!
And he IS correct!
It only takes a buck to try your luck. That's my game plan strategy for this "almost impossible to win" game.
Keep Playing, the states need our voluntary taxes, they collect from losers, and the involuntary taxes they collect from the winner(s).
I remember in 2012 I visited a friend in Michigan, right around the jackpot frenzy. It was under $400 million and people were going nuts. Lines were long, it made the news almost as much as the Olympics did, and everyone was talking about it.
Fast forward less than 2 years later the jackpot is at $309 million and I haven't seen or heard it in the news even once. No one I know has even brought it up. I know there are a lot of reasons for that, but I think the most important factor is that we keep seeing these >$300 million jackpots over and over. It's no longer an anomaly to be marveled at, plus they are coming closer and closer together.
Just a few weeks ago it reached to $425 million. Less than 2 months before that was well over $600 million. When those massive amounts used to show up only about once a year, people would take every extra dime they had and splurged on tickets. Who's going to splurge on a $300 million jackpot when $500 million might be just around the corner. They aren't the once in a blue moon occurrence any more. They are almost the norm.
Teddi, nicely stated, it sure is comical how 100-200+ million doesn't cause a stir.I know I am not considering playing til it gets to the 100 million mark..Maybe it's the realization of how much a person actually gets on the cash grab aspect ?? After all, at a 100 mil., the cash value is only about 55 million, then uncle sam's cut of almost 22 million and whatever your state tax is(if you have one).So you could have as little as about 27-28 million at the end.Oh sure, it's a bunch of $$ and I will never complain.....Then again, wait til the next draw or the draw after.
Like you said, we are constantly seeing the 300+ jackpots annnnnnnnnnd it doesn't take too long to get there.
As a country who's $17 trillion in debt....and the way that our leaders are throwing hundreds of millions or a few billion around(or away depending on your viewpoint).... Doesn't seem too grab much attention by the media...
The other day the news was reporting we sent $1 billion over to the Ukraine....are you $hitting me ??? A BILLION Dollars ?? Think of the people in our country that could have helped..or what we could have done with to say to maybe PAY DOWN THE DEBT....While that number gets my attention, it doesn't seem to bother those who are in control of it....just sayin(maybe sputtering too)
OK, I am over it.....
Let's hurry up and win this tidy sum !!!
Right. If you just started playing you would think 300-500 mill was a normal jackpot.
Indeed Teddi, Indeed. What's interesting to me is how jaded people have become with these jackpots. The thought of winning $40 Million is equally appealing to me as winning $600 Million..seriously. Dont get me wrong, one is CLEARLY much more attractive and would go much farther. But the reality is my excitement threshold would be the same if i won $40 Million as if i won much more. I'm so broke right now i keep hoping for a second prize, doesnt even have to be with powerplay/multiplier either. LOL!!!
The idea that people roll their eyes at $300 Million + is crazy, i guess they bought into the hype and have lost perspective. No human being alive needs more than $5 million to be EXTREMELY comfortable for LIFE. Again, don't get me wrong, the bigger the better you know. But give me $5 Million and i'll be set and bursting at the seams with excitement.
You made some good points CDanaT, But i think it all comes down to people just being jaded and have lost perspective. We here the words million. billion, trillon tossed about so often that some have lost their bearings. That is why those who are multimillionaires feel 'poor' or middle class. Always comparing themselves to those who have more. Or themselves always wanting more. Whether its $ 20 Million, $40 Million, $500 Million or whatever the pot may be on any given week. They all look equally beautiful to me because i KNOW that any one of those pots would alter the course of my life in dramatic and wonderful ways.
True. That's so crazy huh!!
>>"No human being alive needs more than $5 million to be EXTREMELY comfortable for LIFE."<<
Depends on whether that is before or after taxes. Even if it's after taxes, $5 million won't go to far if someone were to live for another 40-50 years. Inflation and health care cost will dwindle that nest egg in a hurry.
D,
5 million should treat you okay...invest $4 million and get 3-5% on dividends and interest..120-200K minus taxes should put you somewhere in the 80-130 range...one should be able to live comfortably on that, even after paying insurances and the basics....You are talking between 1600-2500 a week to live on
I hear what you are saying Drenick1. However i find it very very difficult to accept that $5 Million is an inadequate amount for a very comfortable life. Bearing in mind that the median American household income is approximately $50K and that the majority of Americans have far less than $250K saved for retirement, i am having a hard time agreeing with you. I know its different based on one's State. But in my State, one could find a very very lovely home in a gated community or even close to a beach or waterfront for give or take $500k (5b/4b kinda thing). That will be and should be one's largest purchase in life.
If a person plans on living like a rock star or an athlete, then yes, $5 Million would be inadequate. But in my opinon, an overly large house, a $100K+ car, gambling in vegas, frivilous purchases or trying to keep up with the Jones' aren't requirements for a long peaceful, comfortable and happy life. At $50k a year, i would need to work and earn that for 100 years just to have made that much in a LIFETIME. Think about that.
Would i like to win a big one? You bet i would. Abso-friggin-lutely!!! Give me the biggest one ever for all i care, would love if it was $900 Million +. But i'm also a realist and i know that it certainly would not take that much for me to be content. The things that people think they need to be very comfortable are misplaced and socially inserted.
Besides, with $5 Million you are on your way to start your own business, have rental properties, free to take on certain investment risks that would have otherwise alluded you.
I hear you D, but trust me, $5 Million is more than a game changer, at least it would be for me.
I forgot to ask. What's your number? In the movie wallstreet, the young up and coming broker asked one of the Hedge Fund titans what was his number, the number at which point he could be comfortable to walk away from the game and head off in the sunset. The Hedge Fund's guy reply...."more". That was his number, "more".
As ludicuous as it is, that sadly is the number for most people, that is the amount of money it would take for them to feel happy or content...."more".
What's yours?
"No human being alive needs more than $5 million to be EXTREMELY comfortable for LIFE."
Right. Because inflation will never go up again, but interest rates won't stay dismally low. Taxes will never go up, and there's no chance that assets will ever lose value again. Most importantly, there's no way anybody will live for more than another 40 or 50 years. And, of course, it doesn't cost much at all to be extremely comfortable.
The reality is that if you put $5 million in an extremely safe investment today you're going to get a very low rate of return, but if you go for a decent return there's a chance you're going to lose money at some point.
Let's pretend you can earn 3% with no risk, and that no financial issues will ever reduce your principal or income.
Let's assume that an income that increases by 3% each year will give you the same spending power you have today in 20, 30 or 50 years from now.
Let's figure you don't want to leave an estate behind, other than your house, cars and a few minor odds and ends.
Let's figure that spending $200k will pay off all of your debts and leve you freeand clear in a house that's extremely comfortable.
Let's figure that $100k, before taxes, is enough for an EXTREMELY comfortable life.And let's plan on being dead before reaching 90.
That leaves you with $4.8 milion to invest, and if all of those things are true and you're only 40, I've got good news. Your investment will give you an equivalent pre-tax income of $100k every year until you turn 89. At that point you'll still have almost $182k in assets, which will be enough for 5 more months of being extremely comfortable and still alive.
OTOH, suppose you're only 30 or 35. In that case the money runs out when you're 85 or 80.
Don't think $100k is enough to be extremely comfortable? You can hope for a better economic future or just plan on dying sooner.
Some future financial crisis reduces the value of your investments by 30%? Just reduce your spending by 30% and you'll be fine.
$5 million is a lot of money, but how much it's really worth depends on a lot of factors and nobody know for sure what the future will bring. If you were to win enough to net $5 million you'd have to make plans for the long term, and if you make the wrong plans you may be broke with a life expectancy of another 20 or 30 years or more. Maybe inflation will stay reasonable and somewhere down the road you may be able to earn 5 or 6% in a very safe investment. Maybe rates will stay low, inflation will increase, and some future financial problems will either increase your expenses or reduce your principal. There's a reason that people who are really reach use really big numbers when they talk about how much they'd need to feel that they'll remain rich.
DDOH, I think it depends on where you live, how big your family is and what you planned on doing with the windfall. $5 million in Manhattan would give you a shoebox apartment...maybe. $5 million in Georgia would give you a pretty great life. So it all depends.
Plus a publicized jackpot win is more expensive than money earned over time. If it's one thing I've learned is that the most unassuming guy might be loaded, but he's living in a regular middle class house, driving an old beat up car. He can live an unassuming life with no effort. But a lottery winner who's had his name and face splashed all over the media suddenly has things like kidnapping insurance, unlisted phone numbers, high umbrella policies, PO Boxes and gated communities come into the picture. There are simply expenses that jp winners end up having that others do not.
I'll honestly be happy with any jp amount but I no longer inconvenience myself ticket-wise for anything under $450 million. No special trips or stops at the store like I used to. When these large numbers roll around every couple of months, then they are no longer the once in a lifetime opportunity they used to be. It's the equivalent of missing the bus. Another one is going to be along shortly.
Cash value or jackpot, and before or after taxes?
Good points for financial consideration. Probably the "extremely" comfortable is the focal point. Yes I know that in various spots across the country that 5 mil is nowhere near enough for "extremely comfortable". Realistically you would need at least triple or quadruple that for a take home figure to reach the extreme level. One consideration would definitely be the dividend/interest earned factor for me as the reasonable test for "E.C". I would definitely consider a 2-5 year timeframe to consider what is my normal approach to a standard of living. While $5 million would produce reasonable, I have to lean towards $10+ million for comfort. Provided I have the 10 as a basis and all my other assets were paid for.
With these takehome jackpots on the cash grab....Extremely comfortable should be the norm.
This one will make it to the billion dallas mark.
Either. Just the amount you think would make you comfortable and relax your mind financially.
Why are so many in these frenzy threads so hyped uo about the jackpot getting to $1 Billion? If they're not the one to hit it they'll have a level 10 hissy fit, level 12 if it's California or New York.
WT2?
It isn't about that, it's about seeing it get to that mark. Think about the odds of it reaching that point and about the odds of one person winning. It's always exciting to see the jackpot climb to a number it's never been before. And except for the few idiots who think the lottery is one big California conspiracy, it'll be about the person not the state. Who is going to claim someone cut the line, who's going to claim they were owed a share. Amazing stories come out of large jackpots too. Hopefully it'll be a feel-good uplifting story and not another Whittaker, Edwards or Shakespeare.
LOL dunno ethier ... but one day one of us will get that lucky and get to selling that all too phoney lottery system
When I win, my first customer will be hearse..heck, I will even throw in a free bordello tour with it !!! That'll suck him in faster than Sully takin' shots at her current & favorite president.
Even in the highly unlikely chance that the jackpot crosses 1 billion dollars, I predict that the jackpot will no doubt be split among several people. But if one person would happen to be the sole winner, hopefully it's me..
Todays the day!!! getting my same 1 dollar, 1 line
If it gets to $1B and if it's a solo winner, it will be a long, long time before that person ever knows another moment of peace.
Just my $.02.
All the more reason to keep the winners identities anonymous. When it gets that high I'll be getting my tickets from South Carolina and double down on that by claiming via a trust. The lottery doesn't care about the safety of its players so people need to do whatever they have to to keep themselves safe.
My poor state of Louisiana always remains behind here too. Never a winner like CA, MA. Ny, FL
Did you ever hear anyone from Louisina win?
These folk just think of Mardigrass or Jambalay!!!
Louisiana won powerball before, not sure about mega
Remember....... no jackpot winners for the next 5 draws
TDI:
don't let GLORIA in line ahead of "YOU">>!
And now we wait..........
I would move out the country for a year.
2 numbers from Friday repeated tonight. How weird.
One draw down......four more to go!
No jackpot winners!
Wooo Hooo. It rolled
3/12/14
No Mega Game winner last night. Not surprised. It's designed to consistently produce fewer winners and bigger jackpots.
Now where is my coffee?