With no one winning the Mega Millions Lottery since July 24th, the jackpot has grown to a record $1.6 billion. If you won, how much of your winnings would you devote to hiring a full-time orchestra, conductor, and reconstructionist(s) to record every score you've ever wanted?
I'd get James Fitzpatrick out of hock, and finance his, Intrada's, Lalaland's, Kritzerland's, and any other deserving producers' next five projects. I'd also fund Stromberg and Morgan back into business.
This would also make possible that dream project, probably with Intrada, of a BILLY GOLDENBERG AT UNIVERSAL box set.
According to the Washington Post, the odds of winning the Mega Millions jackpot top prize are now 1 in 302,575,350, with players picking five numbers from 1 to 75. That's an increase from the original game -- prior to Mega Millions modifying its formula -- when the odds were 1 in 258,890,850, with players selecting five numbers from 1 to 75.
Don't forget the government steals about 40% of your winnings. So you won't be a billionaire.
And you'll lose another 20% or so if you take the lump sum payment rather than an annuity.
I read today that one-third of all lottery winners declare bankruptcy within five years of winning. I'm glad I've avoided that heartache.
As I always say, it doesn't matter what you're worth. If you're responsible with your money you'll be fine. If your irresponsible with your money you'll fall into debt, assuming you don't have a financial crisis not of your own doing, which is sometimes unavoidable.
And yes I would take the lump sum. You could choke on a chicken bone or die in a car accident a week after you won the lottery. Take what you can when you can!
