Spend Your $750 Million Powerball Winnings in Michigan
We know you're still over analyzing your basketball brackets. We're going to ask you to refocus, gather your dollars, and get the old office lottery pool going again.
The jackpot is back up to another astronomical amount. $750 million. Next drawing is Wednesday, March 27th.
Whether you take the prize as an annuity spread out over three decades or as an immediate, reduced lump sum, 24 percent of your win is withheld for federal taxes. Yet the top marginal tax rate of 37 percent means you’d owe a lot more at tax time. And state taxes typically are due as well. (CNBC)
BTW, Cash Value: $465.5 Million. That's your lump sum (gimme my money now) amount. And again, that's before taxes.
And once you win, what are you gonna do with SOME of your newfound wealth in the Mitten State?
Here's just a couple of decadent, expensive ideas.
You could settle into your comfy new diggs far away from all the little people. Listed at $29 million, a mansion on Grosse Ile is easily the most expensive residential property on the market in Michigan. (Freep)
You could move to East Lansing (if you don't live there already). Did you know that E.L. is listed as one of The 10 Most Expensive Places To Live In Michigan For 2019? (Homesnacks)
Dinner? No biggie. Especially at these paltry prices for a new multi-millionaire. You could eat at Detroit's London Chop House. Often. (The Daily Meal)
This elegant and classy institution has been going strong since 1938. Dining in this very fancy spot will certainly set you back, as steaks start at $32 for a small 6-ounce filet and go all the way to $110 for a 14-ounce boneless wagyu rib-eye. Non-steak entrées, like lamb chops and Dover sole, average over $40.
Or treat you and your baby to an exclusive and romantic dinner, at Motorcity Casino in Detroit. (The Daily Meal)
A sparkling 16th-floor restaurant inside the MotorCity Casino Hotel,Iridescence is the only AAA 4 Diamond restaurant in Detroit, and it wears it well. Its menu is also upscale and lavish, with items like broiled oysters, Alaskan king crab on brioche, 48-hour short rib with a sweet corn and Cheddar tamale, elk shank potage, Hawaiian opah, A-5 Kobe strip loin, and Niman Ranch steaks. End your meal with a Melting Chocolate Sphere or boozy baba au rhum, and don’t miss the award-winning wine list.
Cocktails at $80 bucks a pop? Chump change to a baller like you after you win the jackpot. Head on over to Bad Luck Bar in Detroit.
Good luck. All you have to do is win first. May the odds forever be in your favor. Next drawing for the Powerball jackpot is Wednesday night.