The Powerball Lottery jackpot currently stands at $550 million – about $275 million after taxes to a single winner. That’s a lot of money by almost anyone’s standards. Whether you buy a ticket or not, it’s worth asking yourself what you would do if you won.
Truth be told, I’ve never been much of a lottery person. It turns out that the odds of winning are virtually the same whether you buy a ticket or you don’t. Actually, if you harbor a secret belief that you might in fact win the lottery, let me pass along a few things you might usefully worry about. These are things more likely to happen to you than winning Powerball.
You are more likely to be crushed to death by a vending machine than you are to win Powerball. You are more likely to become President or have identical quadruplets. You are more likely to become a movie star or be struck by lightning. Any one of these wildly unlike events is a near certainty compared to the odds of winning Powerball.
But what if you did win Powerball? What if someone handed you a check of $275 million after taxes? What would you do with it?
Even if you succumb to the temptation to buy a bunch of extremely expensive things that need to be insured, and fueled, and mowed, and painted, and stored, and updated, and repaired, and replaced, you’ll still be faced with the question of what to do with the rest. In other words, you’ll eventually be faced with the question of whether you merely want to do well for yourself or whether you actually want to do good for the world.