Get inspired by all the unique ways past Powerball players have invested their Powerball prize money, from the sentimental to the elaborate.
You’re already busy spending it in your imagination. All your winnings from that Powerball jackpot ticket are out there with your name on it..
The dreaming about "what if" is part of the allure of playing Powerball. You can give your imagination an additional boost (as if you needed it!) by considering the creative purchases and projects of other Powerball winners gone before. Seeing what other Powerball winners have done with their fortunes can inspire you to and from the perfect pick until you find that winning ticket of your own. It can’t hurt to scheme a bit, now can it?
Sweet inspiration
According to Business Insider, Powerball winners have put their winnings to work in unique and unprecedented ways.
Build a water park
In 2011, a New York man and his wife made a big splash with their Mega Millions Jackpot, building a water park as a memorial to their parents. Spray Park in Green Island, New York, still operates to this day.
Set up a trust
A Rhode Island woman turned a sure bet into a family trust fund that keeps on giving with sweet flair. Believing her winning ticket to be linked to the purchase of some rainbow sherbet just before her ticket buy, Louise White named a trust fund after her lucky dessert, creating none other than The Rainbow Sherbet Trust.
Support a favorite cause
Bob Erb of Canada has a love of herbs himself, as in cannabis. Erb, a Canadian advocate for the legalization of marijuana, had been buying tickets for decades when he struck gold. A seasonal construction worker, Erb donated a portion of his winnings to efforts to legalize cannabis and continued to work his regular job.
Take your dreams on screen
Nobody has a better story to tell than young Jonathan Vargas. Vargas won big and created the Tampa-based comedy show Wrestlicious. Vargas was super excited to take down the market with his idea of entertainment that featured scantily clad women wrestling with a comical note. The problem is that Vargas sunk a fortune into the show, which only aired for a single season, serving as a reminder that winnings don’t guarantee commercial success.
Unusual choices continue to dot the map
News Nation reports that other winners have also made unusual choices, from a backyard demolition derby track to gambling it all away. One British woman paid for her sister’s breast implants.
More commonly, dream homes, travel, expensive cars, and even political donations mark the history of Powerball winnings and how those winnings get spent. Some winners make their newfound wealth work. Others, like Vargas, find themselves broke or at least regrouping after a short time living the good life. Sound financial planning may be in order.
What to do and what not to do
Powerball winners should proceed cautiously and hire a reputable financial advisor to discuss their options. Choosing the right payout between annuities and lump sums, implementing careful tax strategies, setting goals, and getting help identifying profitable investments are some of the first steps outlined by Forbes. Estate planning, establishing a foundation or fund, and building a team to assist you with your financial planning are also encouraged.
Happy is as happy does
Good news for Powerball winners: many say hitting the jackpot brings a boost in happiness, especially at first. For long-term joy, spending on experiences rather than just things can make a big difference, according to past Powerball winner stories. And the real magic happens when your winnings help others, whether it’s family, friends, your community, or causes you care about. That’s how you keep the good vibes going strong! So, keep dreaming and plan out how you’ll spend or invest your fortune. You could just be the next Powerball winner.