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[Boston Herald] Powerball Jackpot Soars: Expert Says What Winner Should Do

November 1, 2022 – The Boston Herald recently published an article featuring Jay Zagorsky, Clinical Associate Professor, discussing the second largest drawing in U.S. lottery history.

Jay Zagorsky

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November 1, 2022

The Boston Herald recently published an article featuring Jay Zagorsky, Clinical Associate Professor, discussing the second largest drawing in U.S. lottery history.

Wednesday’s estimated $1.2 billion Powerball jackpot is the second largest drawing in the game’s 30-year history and fourth largest ever in U.S. lottery history. If there is a winner in Massachusetts, he or she will receive a $10.5 million payment in the first year, and then $43.1 million in the final year after taxes.

By taking the multiyear payout, you have the opportunity to really figure out your life

Jay Zagorsky
Clinical Associate Professor, Markets, Public Policy, & Law

Zagorsky suggests the only way to receive the full estimated jackpot is to accept annual payments over 30 years. He states,“I have spent my entire academic career studying wealth, and even if I had a billion dollars dropped on me, having thought about this for years, I’m not sure if I could physically or mentally adjust that quickly. By taking the multiyear payout, you have the opportunity to really figure out your life.”

Jay Zagorsky is Clinical Associate Professor in Markets, Public Policy, & Law and is a cross-disciplinary researcher who has spent over two decades of researching a wide variety of personal wealth topics. He tries to explain why some people become rich, others are poor and some move between these two states. He is currently synthesizing this research into a book that presents the results of his academic research and other wealth researchers in an accessible format.

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