Half A Billion Dollars Up For Grabs in Lottery Jackpots

How much money would you have to win in order to consider it life-changing?

The answer to that question is different from person to person, but what I can say with all certainty is a half-billion dollars is a life-changing amount of money- I don't care who you are.

The Colorado Lottery hasn't been making a lot of noise in recent months as jackpots have been notably smaller than they were before the pandemic. However, that is all changing as both the Powerball and Megamillions Jackpots have now climbed to more than $275 million, and eventually, somebody is going to win those jackpots and their life will instantly change.

Friday's Megamillion's drawing will feature an estimated $276 million jackpot. The cash option is about $211 million, and of course, you can figure out for yourself the tax implications. Regardless, it's an insane amount of money.

On Saturday, the Powerball jackpot will be an estimated $277 million with a cash option of around $210 million.

Is a $2 "investment" on your part worth taking the chance on winning a ridiculous amount of cash? For most of us, the answer is yes, it's worth the risk. Face it, we know we have a better chance of getting struck by falling space debris in our living room than winning the big jackpot. But, yes, because there is a chance, we are going to lay our $2 down, and say a prayer to the good Lord for special favor on the lottery balls. For a brief time, we will actually believe there is a chance.

The key here is to have fun and to "gamble" responsibly.  Most of us aren't going to miss the two bucks we spend on a lottery ticket, or even $4 if you buy a ticket for both games. It's when people start laying down large chunks of money in the hopes they strike it rich that they get into trouble.

I'll confess. Even though I know I'm not going to win millions of dollars, I still enjoy thinking about what I would do with all of that money. It can't hurt to plan ahead and be prepared - just in case. If my life is going to change, I want to be ready.