Reference: Lottery Winnings Allocation

Taking home the jackpot
Here’s how one lucky winner spent his new-found fortune.

Brad Duke, 34, a manager for five Gold’s Gym franchises in Idaho, pocketed a lump sum of $85 million after winning a $220 million Powerball jackpot in 2005. He spent the first month of his new life assembling a team of financial advisors. His goal: to use his winnings to become a billionaire. Here’s what Duke has done with his money so far.

* $45 million: Safe, low-risk investments such as municipal bonds
* $35 million: Aggressive investments like oil and gas and real estate
* $1.3 million: A family foundation
* $63,000: A trip to Tahiti with 17 friends
* $125,000: Mortgage retired on his 1,400-square-foot house
* $18,000: Student-loan repayment
* $65,000: New bicycles, including a $12,000 BMC road bike
* $14,500: A used black VW Jetta
* $12,000: Annual gift to each family member

And the Duh! Question:

Are you happier since you’ve won the money?

Absolutely.

Previously in this blog:
Won The Lottery? Then Prepare To Be Poor.