If you are like me, you did not purchase lottery tickets on your 18th birthday. It was not all that important to you. However, once I heard about PowerBall being worth $900 million before taxes, I went to a convenience store and bought five. I did not end up winning, and apparently no one else did either. The odds of winning the lottery are so low that not a single person got all five numbers, plus the powerball. Yet, we still buy a few lottery tickets with more hope than we have luck. There isn't really an explanation as to why we do this, but I know I found myself saying, "It could be me, you never know." But, it was not me, and I spent $10 to experience a day long hype about an extremely rare outcome, only to be let down.
Since no one won the jackpot, Wednesday night’s drawing will have an increased jackpot amount of $1.3 billion. So it is safe to say those of us who bought tickets for Saturday are probably going to buy some for this week’s drawing.
This record breaking lottery amount has caught everyone’s attention, inspiring many posts on social media about what people would do with the money if they won. Winning the PowerBall requires no skill, yet it is capable of changing your life forever. While there are always stories of people who have won the lottery only to become broke not long after, everyone who buys a ticket is hopeful that they will never worry about paying a bill again.
I know that if I were to win the jackpot, or even the smaller prize of just a few million, I would finish paying for my degree and pay my parents back for what they have already paid. I would probably meet with a financial consultant about what to do with the rest. I mean, I would not know to do with that amount of money if it fell on my lap. I do not think that anyone really knows, either, other than to spend it. I feel like that is how people get into trouble -- buying things left and right because they do not have any idea of what else to do, and they end up not saving anything. That is why I would seek help from someone who knows the best way to invest and save money. Heck, I don’t even know whether or not to take the lump sum or to take an annuity. I remember attempting that problem in pre-calculus, but I don’t remember it that well.
Either way, the lottery is something I have found to be kind of fun, especially with how high the jackpot has gotten! The next drawing is Wednesday night, so if you are like me and are wanting to purchase a ticket, make sure to do so before then.