Although, admittedly, the odds of winning the Powerball jackpot are quite long, dreaming never hurt anyone.
So, to help you with those dreams, we’ve compiled a list of things Powerball winners just love to spend their windfalls on. Check it out and see whether any of the items mentioned would be on your “To Buy” list, too!
Best of all, even if you make purchases like these with your jackpot winnings, you’ll probably have cash left over for an extra treat or two.
Giant mansions are for A-listers. Powerball winners buy islands. For a cool $10 million, winners have previously bought their very own piece of heaven in exotic locations.
Just remember to factor in a few extra millions for stilts, the golf course, your chef’s salary and perhaps the mega soirees you plan on hosting.
Ask anyone what they’d do with a jackpot win and they’re likely to say they’d go shopping.
There’s nothing wrong with a shopping spree when you come into money. But, don’t shop until there’s nothing left like many winners do.
Take Vivian Nicholson as an example. She won a fortune in sports betting back in the 1960s and promptly headed to London to visit Harrods as well as a luxury car dealership and a travel agent. Her wardrobe is exquisite, but her wallet quickly emptied out.
Who doesn’t like a quick trip off to somewhere special for a weekend? Today’s winners are investing in drones to sail way above the pesky traffic.
One particularly popular model is the Ehang 184, complete with seating for one. The drone can take you anywhere within a 10-mile radius and only costs around $300,000. You could even buy one for each family member at that price!
Besides buying a new property, many winners opt to build a pool, too.
In fact, one mansion in Texas is home to the largest backyard pool in the world, costing over $3 million. The property boasts a 40,000 square-foot pool, six waterfalls, a 500-foot lazy river, outdoor kitchen, bar and 21-foot slide.
All of this was built by a Powerball winner.
Flying economy can be a thing of the past. So can first class for that matter. Powerball winners spend their millions on personal fleets of jets.
At around $60 million apiece, you could buy one for yourself and splash out on another for your friends.
Purchasing a major sports franchise can cost in excess of a billion dollars, but not all sports cost an arm, a leg and a major windfall.
Soccer hasn’t yet developed the fandom other sports on our side of the Atlantic have and it’s still cheap enough (for lottery winners) to buy a team.
In 2015, “Women of Algiers (Version 0)” by Pablo Picasso sold for a staggering $179 million. Its price tag means that it was the most expensive painting ever to be sold at an auction. It went to a Powerball winner.
If you have a hunger for fine art and your lucky numbers came up next week, chances are you could be the next winner to buy a famous painting on auction.
One Bugatti… two Bugattis… at around $.5 million each, Powerball winners often go straight for a Bugatti Veyron, if not an entire fleet. This is the most expensive car on the market, but Powerball winners can’t seem to resist having a few in their garage.
Suzanne Mullins is an example of what Powerball winners shouldn’t do.
Suzanne won a great deal of money, which she opted to have paid to her in monthly installments (the annuity payment). She then took out a loan from the bank, planning to pay it off with the installments.
Debt grew quicker than she blinked, and Suzanne battled to pay off her loan. Eventually, the debt amounted to more than her winnings and Suzanne had no choice but to file for bankruptcy.
This isn’t uncommon amongst Powerball winners. A lottery win is a blessing. It’s not something that should be squandered or wasted. The money should change your life for the good.
Don’t be like Suzanne!
Learn more about how to manage newfound wealth by reading Winning the Lottery: Lifestyle Changes.