.Let’s Say You Actually Won The $1 Billion Mega Millions Jackpot. Now What?

(This info could also apply to the RV of the Dinar)

Charlotte Observer Evan Santiago Thu, July 28, 2022

This Friday’s Mega Millions lottery drawing has garnered quite the buzz after no winner claimed the prize from Tuesday night’s drawing, with the nationwide jackpot now at $1.02 billion.

It’s an eye-opening amount of money that will undoubtedly change someone’s life forever. The largest jackpot won by a North Carolina resident was a $344 million Powerball jackpot in 2019.

So what is it like to be the one who beats the odds? Van Denton, director of communications at North Carolina Education Lottery, gave The Charlotte Observer a breakdown of what happens if you become a lucky winner.

.Here’s How Much in Taxes You’ll Pay if You Win the $1 Billion Mega Millions (and Other Fun Facts)

Vance Cariaga Thu, July 28, 2022

If you’re buying a lottery ticket on the off chance that you might win the $1 billion Mega Millions jackpot this week, you’d do well to remember this: Winning isn’t all Dom Pérignon and luxury suites. You’ll also face a hefty tax bill — so much so that you might have to scrape by on $380 million or so once the IRS takes its cut.

Since nobody took home the grand prize on July 26 by matching all six numbers, the Mega Millions jackpot has now ballooned to $1.02 billion, CNBC reported. The next drawing is Friday night, July 29, at 11 p.m. EST.

.Why Lottery Winnings Don’t Always Lead To Happiness

Shirin Ali | July 27, 2022

Story at a glance

Winning the lottery may increase a person’s life satisfaction and remain that way for decades to come.

An increase in happiness isn’t as certain, with research showing lottery winners showing little to no improvement there.

Researchers say happiness is subjective and is interpreted differently from person to person.

Receiving a massive influx of cash may seem like instant gratification but research has shown that winning a lottery may increase life satisfaction but may not impact general happiness.

.Here’s How To Build a 6-Month Emergency Fund

Nicole Spector Wed, July 27, 2022

We may be a country sorely lacking in financial literacy, but we all have one core principle ingrained in us: We must have an emergency savings fund.

In theory, it sounds pretty simple: You make a certain amount of income, and set a certain amount of that aside in an account that you only tap into when the going gets especially tough and you need to shell out dough for something like a new car part or a surprise medical bill. But embarking on building a six-month (the recommended amount) emergency fund can be challenging.

.Tails, You Win

Jul 26, 2022 by Morgan Housel

Steamboat Willie put Walt Disney on the map as an animator. Business success was another story. Disney’s first studio went bankrupt. Later cartoons were monstrously expensive to produce, and financed at onerous terms. By the mid-1930s Disney had produced more than 400 cartoons – most of them short, most of them liked, and most of them losing money. Disney and his studio were nearly broke.

Snow White and the Seven Dwarfs changed everything. The $8 million it earned in the first six months of 1938 was an order of magnitude higher than anything the studio earned previously. It transformed Disney Studios. All company debts were paid off. Key employees got retention bonuses. The company purchased a new state-of-the-art studio in Burbank, where it remains today. By 1938 Walt had produced several hundred hours of film. But in business terms, the 83 minutes of Snow White was pretty much all that mattered.

.Why You Shouldn’t Keep Your Cash Under the Mattress

Valencia Higuera Mon, July 25, 2022

If you don't know much about money, you don't have to look far for advice. You can always learn from personal finance articles, books and videos or money-savvy friends and family.

Although there's no short supply of guidance, money rules can shift over time. For that matter, some old-school advice should be taken with a grain of salt.

Pay Off Your Mortgage Early

Most people need a mortgage to purchase a home. However, financing a house entails paying thousands of dollars in interest. To reduce interest charges, some borrowers come up with a plan to pay off their mortgages early by making extra payments.

.11 Social Security Mistakes That Can Cost You a Fortune

GOBankingRates Gabrielle Olya Thu, July 21, 2022

Whether you're counting on Social Security to fund most of your retirement income or supplement it, you want to make sure you get all of the money you're entitled to. However, with so many ways to claim benefits -- especially if you're married or used to be married -- small mistakes could end up costing you a lot of money over the rest of your life. By knowing which Social Security mistakes to avoid, your retirement will be easier to handle -- even if you aim to retire early.

The Mistake: Not Checking Your Earnings Record

Even if you're decades away from claiming Social Security, you could be making a big mistake if you don't keep track of your yearly earnings.

.Money Stress Is Linked to Poor Financial Wellness, Advisors Can Help

Wola Odeniran Fri, July 22, 2022

New research from T. Rowe Price shows that your level of financial stress can connect with your financial wellness. In fact, retirement plan participants who report stress related to debt are saving less for retirement than those who are not stressed. Let's take a look at how money stress can be a sign of poor financial wellness.

A financial advisor could help you create a financial plan to get on a stress-free path to managing your money.

Retirement Plan Participants Are Stressed About Money