Powerball Jackpot

By Roger A. Shake, CFP®, RLP®, CeFT® November 2022

Now at an estimated $1.5 billion, the Powerball jackpot is quickly approaching a world record amount after 39 consecutive drawings yielded no grand prize winner, lottery officials said.

The next drawing is Saturday night, November 5th, marking the 40th Powerball drawing since the jackpot was last won in Pennsylvania on August 3, 2022. The cash value of Saturday’s jackpot is $745.9 million (this is the lump sum payout versus taking annual payments), according to a press release from Powerball.

As the jackpot amount increases, I’m asked more frequently by clients and other folks, “what should I do first if I win the lottery?” Of course, my answer is CALL ME!

There are many “things” that should and should not be done by the winner. Below is a link to Susan Bradley’s blog “The First 10 days of a Lottery Win.” Susan is a dear friend, mentor and founder of The Sudden Money and Financial Transitionist Institutes. This is where I did my two years of training to become a Certified Financial Transitionist (CeFT®) which uniquely qualifies me to help people through the emotional and technical aspects of a sudden money event.

We can certainly help if you become a lottery winner, but we are also very effective in helping with life’s other big transitions such as planning for financial independence/retirement, the death of a spouse/partner, the divorce of a spouse, sale of a business, or any other transition where money and meaning collide. If you would like to explore the ways we can help, I can be reached at 972-599-4750 or rshake@LegacyConsultingGroup.com

https://www.financialtransitionist.com/blog/lettertomegawinner

Disclosures

  • Legacy Consulting Group is registered as an investment adviser with the SEC and only conducts business in states where it is properly registered or is excluded from registration requirements. Registration is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability.
  • Information presented is believed to be current. It should not be viewed as personalized investment advice. All expressions of opinion reflect the judgment of the authors on the date of publication and may change in response to market conditions. You should consult with a professional advisor before implementing any strategies discussed.
  • All investments and strategies have the potential for profit or loss. Different types of investments involve higher and lower levels of risk. There is no guarantee that a specific investment or strategy will be suitable or profitable for an investor’s portfolio. There are no assurances that an investor’s portfolio will match or exceed any particular benchmark.
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