I’ve already posted about powerball. I buy 1 quick pick per game just to be in the game. I usually buy 10 plays at a time which lasts for 5 weeks and requires as little of my time as possible.
I just wanted to share a quick “back of the envelope.” Whatever the jackpot is currently, just take 3 zero’s off the end and you have the amount you will be pulling into your checking account each month. That’s assuming you’re smart enough to take the cash option and live off the interest.
So the jackpot is now 57 million. Your checking account will get $57,000 a month. Easy.
Assumptions: 4% withdrawal rate, cash option, upfront taxes paid of 50%.
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