Friday, January 2, 2004


Two winners in the latest Powerball drawing will each get lump sums of $60M. Imagine spending $10M right away and investing the remaining $50M in tax-free bonds that pay 3% a year (just to make up a number). That's an income of $1.5M a year.

It's amazing that anyone can go broke after winning the lottery, but people do.

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