Wednesday, November 28, 2012

$500 Million Powerball Musings

Texas is a Powerball state and like I did when the Megamillions jackpot hit that then record jackpot in  January 2011 I bought one ticket just to be in it to possibly win it.

The $500 million Powerball one could possibly be even higher by the time they draw the numbers for the jackpot at 10 PM  CST.   If you're thinking about buying a ticket, sales are cut off one hour before the drawing time.

If I were so lucky to win it, here's what would happen to Moni if I heard the news that the only winning ticket was purchased in H-town.    First up is all you friends and family peeps who didn't know me (or care to know me) prior to November 28, don't even bother trying to get to know a trans sistah.  

I'd be up bright and early the next morning hiring a good tax attorney, changing my phone number and making preparation for that trip to Austin to claim it.  

In the fine print of the Powerball ticket you’ll note that you only get the full $500 million if you match all six balls and you agree to take the payout in 30 inflation adjusted payments over 29 years.   Moni's taking all the money now so that means an adjusted $327.4 million payout.

That would still be a record jackpot amount for a single person.   I'd have to pay (and wouldn't gripe about it unlike you Republicans) the 35% federal taxes on that amount.  However since I live in Texas, I wouldn't have to pay any state income tax on that money.

That would leave me with about $213 million, and I'd be 'sliiiiding' some of it to Edenside Christian (my old church in Louisville) some peeps who helped me out (and who know who they are) when I was down on my luck, some family members and organizations and groups that prioritize helping trans people out.  

So yes, National Black Justice Coalition and Trans Persons Of Color Coalition, y'all would be the first organizations to get a call and a check from Moni. 

I'd blow $1 million just because and to get any wild spending spree out of my system.  There are a few shoe stores and clothing outlets that would see my statuesque behind in them, and a trip to Canada to visit a certain womanist mommy blogger would rapidly happen.  

Then I'd be make sure I'd have the bulk of my newfound millions invested wisely so I can live off the interest from it.  I have no desire to repeat the mistakes of far too many lotto winners who frivolously blew their windfall.   

Yeah, yeah, I know the odds.  But dropping $2 on a Powerball ticket and being blessed enough to have the correct five numbers plus a powerball would definitely be a life and bank account changing event, so why not?

And yeah, a TransGriot can dream a little bit can't she?

TransGriot Update:  White there were two people in the Houston area who received $1 million by matching 5 numbers but not the powerball, I wasn't one of them. My ticket was a dud this time

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