Can You Have Too Much Money?

What would you do with $500 million?

I would freak out if I stumbled upon $500, and by $500 I mean $50. Heck, I’d probably shed a tear if someone randomly handed me 5 bucks.

Needless to say, the idea of possessing half a billion dollars is mind-boggling to me.

Yet, I’m not letting that stop me from trying to win the $500 million Mega Millions jackpot.

Tomorrow night someone could become $500 million dollars richer if he or she is able to nab all five winning Mega Millions lottery numbers plus the all-important Mega Ball number.

You have to play to win, right?

Fortunately, Mega Millions is played in 42 states, plus Washington, D.C. and the U. S. Virgin Islands, so most Americans have the chance to buy at least one ticket.

All you need is one ticket…

If you happen to buy the golden ticket you will make history. Tomorrow’s jackpot obliterates the previous Mega Millions jackpot record, which totaled $390 million back in 2007.

Once the shock of winning wears off you can select the gimme-all-my-money-now option, whereby you collect a one-time lump sum of around $350 million or, you can choose to get paid over the next 26 years. According to the Mega Millions website, for every $1 million you win, you will receive approximately $38,500 per year before taxes.

My dad thinks that $500 million is an insanely large amount of money and would be impossible to spend.

I think that’s his age talking.

Believe me; I’m would have no problem blowing through a half a billion bucks.

Or would I?

Would you?

With help from a trained financial planner, I would easily be able to pay off all my outstanding debts, secure a solid education for my daughter, donate to various charities, make sure all of my family members were well taken care of financially, indulge in a few dream vacations, and purchase a few big ticket items.

By then the money would probably be gone.

It’s nice to dream.

Too bad the reality is that the chances of winning the Mega Millions jackpot is 1 in 175,711,536.

What would you do with a half billion dollars?

What’s more, can you ever have too much money?