What would you do if you won the Powerball Jackpot?
Long lines are becoming the norm in many parts of the country these past few days, as the Powerball Jackpot has swelled to a plump $600 million prize. It will be the highest payout in Powerball history. The largest overall jackpot was last year’s Mega Millions Jackpot at $656 million. I predict this jackpot will exceed that record because of the hype and because unlike the Mega Millions lottery each line of numbers costs $2. Therefore, the grand total increases that much more dramatically,
Analysts predict that if in the off-chance no one wins tomorrow’s jackpot, the next drawing (Wednesday) could topple $1 billion. The chances of course are rather minute; but then again so are the chances of the winning to begin with, so anything can happen.
This question of what would you do if you won the jackpot has certainly been a topic greatly discussed at work this week. I don’t think we are the only ones talking about the possibilities. We all know we probably won’t win, but it really doesn’t hurt to dream.
I think I have a fair understanding of what I would want to do. There are some people who don’t agree with me, but that’s okay. Everyone is entitled to their own opinion. If I were to win the grand prize I don’t know if I would automatically give a set amount to each of my family members. I would certainly get them things, but blatantly giving money isn’t really my thing.
I’ve proposed that I would absolve my siblings and mother of all their debt. I would also set up trust funds to pay for their children’s educations (graduate school included). I would without a doubt retire my mom. My mom deserves more than I could ever purchase.
My main focus however, if I were blessed to win, would be to spend the rest of my life giving back to the people most in need. Similar to Bill Gates and Warren Buffett I would join their philanthropic pledge. I plan to give all my money to different charities and organizations in the duration of my lifetime. I would quit my day job and literally go around the country and the world to impoverished areas and help in the many ways that are needed. I don’t want to just give money to a charity. I want to be proactive.
There are some charities in particular I would want to start. I would want to open community centers in impoverished cities across the country. I would want to help students targeted by cyber-bullying. I want to help children and adults affected by obesity. I want to help food pantries and goodwill centers across the country.
To me there are so many places that my money could be better spent than buying an island or a jet. Another person who I would try to emulate is Ethan Zohn. Zohn is the sole survivor from “Survivor: Africa.” After winning his million-dollar prize he started Grassroot Soccer, a nonprofit organization that promotes HIV/AIDS education and prevention in Africa. Its slogan is “Using the Power of Soccer in the Fight against HIV and AIDS.”
If Ethan accomplished this much just with a million dollars imagine how much good I could accomplish with hundreds of millions. That’s simply my mentality when it comes to these large jackpots.
What would you do with all that money?
Would you elect to receive an annuity over 20 years or do you want the cash out amount?
Twitter: @adrakontaidis & @talkrealdebate