ROSENBERG, Texas – The holiday weekend could turn into a permanent vacation for one lucky winner if someone nails the $1.1 billion Powerball jackpot.
The drawing is set for later tonight, and it seems everyone has one destination in mind when it comes to snagging a ticket — Lucky Rudy’s in Rosenberg.
“I heard it’s lucky, I’m going to try my luck,” said Hartford McCall.
Sandy Tietjen drove nearly an hour from Cypress, Texas, after Googling the best place to buy tickets. “Rudy’s came up as number one for Texas,” she said. When asked what she’d buy if she won, she said, “I’m buying a Learjet or whatever they make these days. I travel a lot.”
If you win, you can choose between a lump sum payment of $498.4 million before taxes or the annuity option, which is one immediate payment followed by 29 annual payments that increase by 5 percent each year.
Mardra Dawson shared her plans: “First, take care of bills. That’s number one. Help out some family members, and just live life comfortably.”
What you can buy depends on your vibe. A fantasy mansion? There’s a $23.5 million River Oaks beauty — buy one, or ten, and you’d still be swimming in cash.
Pro teams, though? Forbes says the Astros, Texans and Rockets cost more than a single jackpot can buy. The Dynamo? With some creative accounting, that one might be negotiable.
Before any of that happens, wealth advisor Enzo Pellegrino recommends building a financial team.
“The certified financial planner, we’re going to take a look at what you’re going to do with that money afterwards and how you’re going to invest that smartly so you can potentially have that grow,” Pellegrino said.
“Your CPA is going to help you look at all the tax aspects of whether or not you take the individual lump sum payment or the annuity payment. And then the estate attorneys help you pass down those assets to your heirs or to maybe nonprofits. But also, as important now that everyone will eventually know that you’ve come into all of this wealth, you want to make sure that those assets are protected from lawsuits, liabilities, creditors, things of that nature.”
Tonight’s drawing takes place tonight at 10pm.