Saturday, September 1, 2007

$48.6 million after taxes --

Friday night, four lucky people won the Mega Millions $330 million jackpot. That kind of number lends itself to fantasies of unlimited luxury. But the truth is, megamillions just aren't what they used to be.

A one-quarter share of the jackpot is $82.5 million. If the winner elects a lump-sum payment, which financial analysts suggest, they're down to $48.6 million after taxes. Already, unfortunately, the brand new millionaire is forced to make some compromises.

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