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Search resuls for: "Robert Pagliarini"


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You might want to know how to win the lottery — especially as the Powerball jackpot jumps to a $750 million payout. Stefan Mandel, a Romanian-Australian economist, developed a formula that's allowed him to win the lottery 14 times. You're four times as likely to be struck by lightning than to win the lottery. Those odds apparently don't apply to Stefan Mandel, a Romanian-Australian economist who's won the lottery 14 times, The Hustle reported in a feature story about the mathematician. You can no longer buy lottery tickets in bulk and print your tickets at home — two key parts of Mandel's formula.
Persons: Stefan Mandel, It's, who's, Mandel's, Robert Pagliarini, Pagliarini, Mandel Locations: Romanian, Australian, Romania, Israel, Australia, Vanuatu, South Pacific
But matching five of the numbers still means a $1 million payout — and 22 people across 16 different states may have winning tickets, according to Powerball. The automatic 24% federal tax rate would take a $1 million payout down to $760,000, according to Powerball's tax calculator. There are enough horror stories of lottery winners squandering their earnings to make winning a major prize seem like more trouble than it's worth. A smaller prize takes a bit of the pressure off, but anyone receiving such a large cash payout can make mistakes. Common advice for lottery winners says to take the prize as an annuity to extend its life.
Winning enough money to never have to work again might be reason enough to shell out a few dollars for lottery tickets — and the Powerball and Mega Millions jackpots are currently worth nearly $1 billion combined. But horror stories of lottery winners who mismanaged their jackpots and ended up losing it all abound. You might rightly wonder: How large of a jackpot would actually be enough to support you for the rest of your life? Pagliarini is a certified financial planner who specializes in advising lottery winners on how to manage their sudden wealth. How big of a jackpot do you need to quit your job and retire early?
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