McALLEN, Texas (ValleyCentral) — Tuesday’s Mega-Million Jackpot was set at $1.1 billion, begging the question: “What can you buy if you win that much money?”
Luxury vehicles, million-dollar mansions, lavish jewelry and the latest electronics are just a few examples of what most people would find themselves buying if they were to win the lottery.
Aladar “Ito” Deutsch, owner of the luxury jewelry store Deutsch & Deutsch, is one of many Rio Grande Valley business owners ready to offer you the most luxurious items lotto-money can possibly buy.
“I’ve got that beautiful sapphire piece right there that would run about $250,000,” he tells Valley Central. “If you want to spend millions, I can get the pieces in that run the millions of dollars, so we can do anything that everybody or anybody wants.”
Fine jewelry is not the only thing lottery-money can get you here in the Valley.
McAllen currently has a number of multi-million dollar homes on the market – some of which go up to $4.8 million.
High end vehicles, like a Maserati or a Mercedes, can also be found at local dealerships here in the Valley.
With the expected drawing surpassing a whopping $1 billion, the number of costly items one can purchase may seem endless.
However, local certified financial planner, David Barnes, says the only way to protect your money in the long-run is to set a financial plan beforehand.
“Certainly, the idea of having some nice things, a nice home, nice vehicles – that’s easy,” says Barnes. “But at the same time, you want to be a little bit sly about things until you get tools in place to protect the money that you have longer term intent for.”
Barnes says this means surrounding yourself with financial professional who can help you protect your money and prolong your time with it.
“It is a time to really sit down and examine, what do I not only want the rest of my life to look like or my spouse’s life to look like or my family’s,” Barnes adds. “What do I want my children’s and my grandchildren’s and my great grandchildren’s lives to look like?”
The lottery commission says Texans are spending $14,000 a minute buying Mega-Million tickets.