The Powerball jackpot on 2-1-2014 was a whopping $171 million annuity.  After the 25% federal tax hit that would mean $128 million over 29 years.  A nice tidy sum by anyones calculations.

Who hasn’t thought about what they would do with that kind of money presented to them?  I know that I have.  At one point in time I could tell you step by step what I would do if I ever won the lotto.  I could tell you what law group I was going to use, as most experts advise that you get a good lawyer….I could tell you what accounting company…again, as per the experts.  And I knew just how I was going to collect those winnings.  You wouldn’t see me on stage holding that big ole check.  The lawyer I mentioned earlier?  They would be the one accepting on behalf of the  trust company that would have been set up.

There are too many horror stories out there about lottery winners who went nutso with their winnings and ended up either broke, murdered, or committed suicide.  I do not intend on being a part of that not so august group.

The Powerball is going to be an estimated $215 million on 2-5-2014.  Do you intend on playing?  What strategy do you use?  Your kids birthdays?  Your anniversary?  Quick pick?  Do you just not play?

Drop me a note and let me know how you weigh in on all of this.  You know where to do it, and what to do kids…looking forward to hear from you.