As you dream about winning the Powerball jackpot for yourself, these are the big-ticket purchases past Powerball winners tend to buy first.
As you daydream about winning it big in Powerball, do you ever wonder what you’d buy first? Historically, past Powerball winners have often spent their jackpot prizes on a few key things as soon as the funds arrived in their bank accounts. Here’s a fresh look at some of those first purchases with Powerball jackpots, some you’d expect and a few you probably didn’t see coming.
Ok, so it’s understood that one of the first expenses anyone winning a Powerball prize might spend involves paying off bills, debts, and mortgages. It makes sense, too, since most Americans who win generally have some kind of debt to satisfy. Financial advisors will often recommend a strategy for handling outstanding invoices, credit card balances, and mortgages first before Powerball winners begin splurging on amenities, trips, and donations.
One Canadian resident, who we’ll call Bob, became a multi-million-dollar winner back in 2012. And reports suggest he’d been buying tickets for more than 40 years before becoming a winner. So, you can imagine he had some idea of what he wanted to buy first.
Officials shared that Bob continued to work and eventually donated a good portion of his employment wages to the local food bank every pay period. But his initial investment of $1 million went to support 420 Day, an annual event and celebration intended to support the movement for legalizing marijuana.
If Powerball jackpot winners aren’t first paying off their mortgages, it’s not uncommon for them to rush out and pay cash for a new set of wheels. And when you have a few million in the bank, you might feel empowered to go out of your comfort zone and head straight for the exotic models. Here are just a few of the most popular go-to makes and models that past Powerball winners bought first:
Jonathan Vargas knew exactly what he wanted to do with his $35.3 million Powerball jackpot. He created Wrestlicious, a wrestling promotion featuring women wrestlers in scantily clad ensembles. His subsequent TV show, Wreslicious TakeDown, only lasted for one season as a sketch comedy. Vargas has big hopes for his reality TV plans and later went on the record saying he did have some regret about having spent so much of his winnings on it.
Believe it or not, Evelyn Adams, a New Jersey native, managed to win cash prizes in two different games in back-to-back years. Her grand total between both jackpots totaled $5.4 million. And her first official order of business was to head to her favorite place, the casino. Feeling her streak of luck would continue, Evelyn spent some quality time at Atlantic City, with both the slot machines and the tables. Unfortunately for Evelyn, her luck ran out. And reports indicated that as of 2016, she had gambled away nearly every penny, reluctantly residing at a trailer park.
One Missouri woman who took home $18 million back in 1993 felt the need to share her wealth. So, she immediately started donating funds all across the area. A local university graciously named a wing of their campus after her. And the Democratic Party got all kinds of financial support. But she couldn’t become the serial philanthropist she’d hoped to be since that cash eventually ran out entirely. By 2001, her extravagant donations, along with some mounting credit card debt and a little gambling, forced her into bankruptcy.
So, if you’re the next lucky Powerball jackpot winner, what will you buy? It’s probably best to play it smart and get some advice from a professional who can help you make the most of your Powerball prize, no matter what you want your first purchase to be.