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Unfortunately lottery typically set people up for life. 20 year annuity taxed at 37% per year. Lump sum is cut in half 1 million to 500,000 and taxed 37%. If you have State income tax you are left with less. Sure Powerball and Mega have higher payouts the odds are out of this world. If I were to win I would move back to South Korea and not teach
✋ me lol! I'd probably move to a state with the most human friendly weather and also buy myself a new car since I have never done that before!
I would finish out the year and then resign. I would pay off my all of my bills, fix up my house, and set up funds for my kids’ futures. I would anonymously help my friends who are struggling financially and then pursue a job that feels meaningful and worthwhile- one where my efforts and passions actually make a difference.
At a department meeting a couple of years ago when Powerball was around 400 million and the drawing was that night, I told my colleagues that if I don't come in to work for the rest of the week, it was nice knowing you. I bought my ticket, and if my numbers hit you will never see or hear from me again. Take care and have a nice life. They laughed.
I'd do exactly what I'm doing now. Teaching 12-13 year olds. It's my happy place.