People may all be unique. But when they win Powerball, winners tend to make some pretty similar and popular Powerball purchases.
There are some wild tales out there about the different things Powerball winners buy first, from building a water park to buying a working horse ranch. And when you’re dreaming big about winning the Powerball jackpot, you probably have some lofty investment ideas, too. But generally, there are a few purchases Powerball winners tend to make first when those funds reach the bank account. Here are just the top five of them that you might already have on your dream-big list, too!
1. Houses & Mortgages
In almost every Powerball jackpot story, the winner decides to first pay off the current mortgage. And in those cases of winners living in rental properties, the first order of business was to buy a home. For some, one house isn’t enough, and winners double up with vacation homes or rustic cabins, too. In most scenarios, the home is the most expensive investment one can make. So it’s reasonable to see why so many Powerball players dream about mortgage-less houses and million-dollar homes. It’s one of, if not the, most popular Powerball purchases.
2. Cars & Sweet Rides
Next up on this list of most popular Powerball purchases are the sweet rides to park in those fancy garages. Not everyone considers themselves to be a car aficionado. However, almost every Powerball winner buys themselves a new vehicle within their first year of taking home the jackpot. Some opt for classic cars, reminiscent of their youth. Others go big with behemoth SUVs. It’s not uncommon either for Powerball winners to jump in and buy a new pickup and all the toys to pull behind it like campers, ATVs, and watercraft. And for a few past winners, who won several million dollars, parking a Bugatti or Rolls Royce in the garage, it’s the celebrity lifestyle they’re going for in the end.
3. Travel & Much-Needed Vacations
Once the Powerball jackpot cash is in the bank and allocated responsibly, many opt for that much-needed vacation. But instead of a trip to the Wisconsin Dells or Lake of the Ozarks, they often splurge on overseas adventures or to tropical destinations they couldn’t otherwise afford to do before. Powerball winners realize, too, that they can now afford that trip to Mexico, the Caribbean cruise, and the trip to Ireland in the same year. So, travel becomes a priority. Additionally, there are many instances in which Powerball winners invited their whole families to join them on these vacations, making it a trip to remember for everyone.
4. Eliminating All Those Bills
Another popular Powerball purchase is actually not a purchase at all and involves getting out of debt. For some, the burden of constant or growing credit card balances and payment plans is too much. And upon winning, they make sure these bills get paid off first thing. Once there is relief and a debt-free existence, those winners feel free to relax and enjoy the remainder of their winnings.
5. Trusts for Family & Children
For many Powerball winners, the jackpot represents an opportunity to create a legacy and a financial safety net for loved ones. Countless interviews with past winners demonstrate it’s pretty popular for people to pay off college loans or set up college funding for their children. In some scenarios, winners establish trusts for grandchildren and children, allowing those funds to transition to the kids when they’re ready for adulthood.
When you dream about winning the Powerball jackpot, what do you think you’d buy first? You might be like so many other winners past and make these popular Powerball purchases. Just don’t forget. While you’re dreaming big, don’t forget to play Powerball. You’ll never win if you forget to play!