PALM BEACH COUNTY, Fla. - The $320 million Powerball jackpot is among the biggest ever. At Northwood University, Associate Professor of Mathematics, Gary R. Mazza, crunches the numbers with a class.
After taxes, Mazza says, you could be walking away with about $213,333,333.
"This is your take home, this is money you can put in the bank," he explained.
The bank is exactly where Mazza suggests the winner take it.
"If you just found a four percent investment, you would get over $8 million a year," he said.
Of course, one could blow the lump sum on toys around Palm Beach County.
Ryan Moore, Brand Manager at Palm Beach Motor Cars, showed off an Aston Martin vehicle featured in several recent James Bond films, then brought in the new Fisker Karma.
"It's an all-electric luxury sedan, that's able to go about fifty miles on a single charge from plugging it in, after which you can go another 240 miles with the assistance of a fuel engine," he said.
Buyers are finding it goes 150 to 200 miles a gallon consistently, plus there is a $7,000 federal tax refund.
"These will start at $104,850 and go up to about $112,000," Moore said.
Worth Avenue shops boast beautiful items. A red python handbag currently in the window at the Worth Avenue Michael Kors will cost about $2400. If you were to spend your winnings for 50 years, you would have about $80,000 a week, Mazza says. That works out to 33 of the red buckled luxuries each week.
Or, expand your family. A lot.
Mazza explained, "You could raise 350 U.S. children a year at $12,000 per year, 350 kids you could raise. It would be a noisy house."
The odds of winning the jackpot, according to the Powerball website, are 1 in 175 million. The professor professes, he doesn't play.
"It doesn't make sense to play the game from the money standpoint," he said.
He also admits, you have to play to win and somebody will win.
"You would have more money than you ever dreamed. What would you do?" Mazza said.
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