Wela Whip For The Week Of January 11th, 2016

24166095522_e0e48d8034_k-600x450 Biggest Lotto Ever The Powerball jackpot swelled to $1.5 billion dollars this past week. Yep, that’s with a “b.” It's by far the largest ever jackpot and your odds of winning it were about 1 in 292 million. Those odds worked out well for the three lucky winners! They won't, however, each be taking home $500 million. They're actually more likely to be taking home about $187 million. It’s the taxes. Also, the $1.5 billion is only if the winners take it in installments over 30 years. Taking the lump sum cuts it by over a third right off the bat. So here’s a quick breakdown: $1.5 turns to $930 million lump sum; taxed at ordinary income (39.6%) reduces the total payout to about $562 million. As if these winners weren't lucky enough, they're also all in states that won't make them pay additional taxes on their winnings. So, divide that payout by three, and you get just under $200 million for each winner. Not bad, but $1.5B to $562M... bet you never thought you’d see a billion dollars vanish!... Read More

Get Paid To Live Detroit, Alaska, Chattanooga and Niagra Falls are offering people financial incentives to move within their borders. Alaska pays all citizens a yearly dividend (cha-ching) while Detroit, Alaska, and Niagra Falls offer various incentives to attract people to help grow their communities. Now, we have to ask, can Detroit really pay you enough to move there? Sorry, Motor City…Read More 

 

This One’s Not A “Dime a Dozen” A rare dime went to auction in Tampa last week and sold for nearly $2 million dollars! It was an 1894-S dime created by the San Francisco Mint. One of only 24 created, it’s likely that only nine still exist, and David Hall, a professional coin grader, described the coin as “almost perfect” which is a rarity among collectible coins. Both the buyer and seller decided to remain anonymous. The crazy thing is that the other dimes haven’t been tracked down, so when you get a minute be sure to check your cup holders, between your seats, and in your junk drawer. It could be worth your time!... Read More

 

Katy Perry > Federal Reserve On Twitter at least. However, we should all give some kudos to the organization in charge of our monetary policy. They got a boost of Twitter followers last year! Their Twitter base jumped 62% to just over 300,000 followers. Perry's Twitter following continues to swing well above the driving force behind our economy, as she has nearly 70 million followers. The Fed needs to work with Katy to learn how to make economic information as engaging as songs about fireworks, roaring and California gurls... Read More