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Unsound Financial Advice For Unknown Winner Of $447.8 Million Powerball Lottery

Unsound Financial Advice For Unknown Winner Of $447.8 Million Powerball Lottery

News agencies are filled with tips on how to avoid the fate of so many lottery winners: bankruptcy. Put your money in solid investments, don’t live beyond your means, keep swindlers and other relatives at bay. Get a reputable financial planner.

This is not that story.

Last weekend, somebody who spent $2 on a lottery ticket at the Marietta Liquor and Deli in Sun City, California, won $447.8 million. That person has yet to come forward, and this is a handy guide on just how to blow it all in one year. You’re welcome.


Now that you’re rich, you’ll want to eat sushi twice a week. Masa Takayama’s eponymous restaurant in New York City costs an average of $900 for a dinner for two. Spend the rest of your dinners doling out for French cuisine at Joël Robuchon in Las Vegas, where dinner for two averages $850.

For breakfast, you can get a $1,000 Lobster Frittata at Norma’s in New York City. It’s eggs with 1 pound of lobster and a pile of caviar.

For lunch, you can get a $214 grilled cheese sandwich at Serendipity 3 in New York. The bread is made with Dom Perignon champagne and edible gold flakes, white truffle butter and rare Caciocavallo Podolico cheese.

So, factoring in a 20 percent or more tip (15 percent is so gauche), you’ll blow roughly $384,000 eating out half the time. Dining in the rest? A family of four spends $289 on food a week, but, for argument’s sake, you’re rich and probably will spend closer to $1,000.

So, your food bill will cost $436,000. Throw in booze, and make it about $500,000. Not bad.


You’re supposed to spend 5 percent of your budget on clothing. Since your budget is $447.8 million sans taxes, you get to spend $22.39 million on clothing.

You can start at Oscar de la Renta in New York City, the most expensive store in America, where people spend an average of $3,217 per trip.


According to, the most expensive house on the market is Spelling Manor, priced at $200 million. The 56,500-square-foot manse was owned by the late Aaron Spelling, the mastermind behind such television fare as “Charlie’s Angels.”

Situated on five gorgeous acres, the place has 14 bedrooms, 27 baths, a bowling alley, nightclub, beauty salon and tanning rooms — and parking for 100 cars.

The current owner, Petra Hunt, was 22 when she bought the LA digs. It’s good to be an heiress. Just ask Ivanka Trump.


You’ll need a fleet of vehicles packed with Bugattis and Ferraris and Porches. Go for one each of the 10 most expensive cars in the world. It’ll cost you $48.7 million. Throw in dealer extras like floor mats, and we round up to $50 million.

And since it looks like you’re dining a lot in New York and living in LA, you’re going to need a jet. The Gulfstream G450 is the epitome of luxurious personal air travel. It’ll cost you about $40 million and roughly another $5 million to operate for a year.


Only the two people who actually booked flights know how much it will cost to ride along on one of Elon Musk’s SpaceX rockets. But in Russia, where everything has a price and everything is for sale, NASA pays the Kremlin $70 million a seat to send astronauts to the International Space Station.

Take a date, and that’s $140 million.

Bottom Line

Not counting the taxes you’ll have to pay for winning a Powerball jackpot, you have just spent $457.89 million, easily wiping out your winnings and plunging you deep into debt, to boot.

To quote the New York State Lottery motto (read with cartoonish NYC accent): “Hey, you never know.”

Image: Mark Ou, Flickr

Posted-In: lottery PowerballPsychology Opinion Personal Finance General Best of Benzinga


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