How To Spend Your $550 Million Lottery Jackpot

The Powerball lottery jackpot is up to a record $550 million prize, which is equal to a $360 million cash value after taxes. Prices are rounded and may be approximate, but regardless you're gonna be doing everything in style from now on.

Your annual income: $275,000 a year in interest from a high-yield savings account.

An online savings account might have around a 2.75% APY, which with $10,000,000 in the account would generate a generous annual income of $275,000 a year for life. Baller.

Your NYC residence: 101 East 63rd Street

Via corcoran.com

For just $38,500,000 you can buy 101 East 63rd outright. Architect Paul Rudolph's only residential townhouse in Manhattan features four bedrooms, three living spaces, a dining room, study, two kitchens, a terrace, and a solarium, all located two blocks from Central Park between Lexington and Park avenues.

Your Los Angeles Residence: 1471 San Remo Drive Pacific

Via estately.com

For a cool $26,000,000, you can own this estate with ocean views and 13,500 square feet, which includes eight bedrooms, 13 baths, two guesthouses, a separate theater building, a grand living room, a formal dining room with room for 20, two offices, a playroom, a game room, a sports court, a gym, a wine-tasting room and a quartz salt-water infinity pool.

Your London Residence: Park Lane, Mayfair, W1K

Your four-bedroom penthouse in London will cost you £16,000,000 — or about $25,500,000. It is located in a prime spot in London and has breathtaking views, three terraces, and a private elevator.

Congratulations! You just spent your first $100 million and your life already rules.

...What to do with the rest?

How about your own private island?

Via vladi-private-islands.de

You can fill it with cats, or whatever you want, for just $30 million. This one is located in the Bahamas and is 167 acres with seven beaches, three houses, two docks, and a seaplane ramp. The price also includes three boats, the power plant that powers all of the buildings on the island, and an 8,000-gallon-a-day osmosis system that produces all the fresh water you need. The island is rich in fresh produce, including pineapples, tomatoes, guavas, mangoes, and avocados.

Your car: The Bugatti Veyron EB 16.4, Super Sports.

The fastest street-legal production car in the world (267 mph) will cost you $2,400,000 but it will be totally worth it.

Oh, hell, why not get another car? This 1962 Ferrari 250 GTO will do.

global.fncstatic.com

The apple-green GTO, one of only 29 made by Ferrari, sold for $35,000,000, smashing the previous car sale record.

Your private jet: a pre-owned Gulfstream G150

gulfstream.com

Your Gulfstream will seat eight passengers, along with two DVD players, electrical outlets, lavatory, and a refreshment center with microwave. The skies are calling, and for only $8,500,000

Your help:

Obviously you're not going to want to lift too many fingers for the rest of your life. You also want to be a nice guy... So, hire one housekeeper, one driver/gopher, and one personal chef, and pay them each a very generous salary of $100,000 annually. If you live 50 more years, that'll add up to $15,000,000.

A clone of your dog:

Sir Lancelot the dog was cloned by his owner Edgar and Nina Otto for a paltry $155,000. You will never be alone again.

Why don't you treat that clone dog?

Via ilovedogsdiamonds.com

A $3,200,000 collar featuring a bunch of really fancy diamonds, 18-karat white gold, and crocodile leather. Only the best, for the best.

While you're treating, how about your friends and family?

Via jeffellisphoto.com

The median number of Facebook connections is exactly 100. You can give each of those people a life-changing $300,000 — enough to buy a house outright in most markets! — and burn only $30 million. Give your old MySpace Top Eight (or, you know, your immediate family and a couple best friends) an extra $2,500,000 apiece, and you're up to $50,000,000 and a whole lot of grateful pals.

If you have a heart, you'll want to give some money to charity.

blog.wepay.com

Do it smart: Charity Navigator ranks nonprofit groups based on their financial health and their accountability and transparency. They have a helpful range of top 10 lists, such as the "10 Best Charities Everyone Has Heard Of," including Direct Relief International, Teach for America, The Conservation Fund, and the Smithsonian Institution. You could give each of them a cool million and do a lot of good for $10,000,000.

You've taken care of homes, income, transportation, business, charity, and your loved ones...

And you still have over $100,000,000 left to spend... Time to get ridiculous.

Buy some art! How about Claude Monet's Le Bassin aux Nymphéas?

guardian.co.uk

This painting from 1919 sold for just over 66 million at auction in 2008, and it's going to look great hanging above your sofa.

Your watch: Haute Joaillerie from Chopard

list25.com

$25,000,000. Yes, really. Enjoy the time.

Your jeans: Dussault Apparel's Trashed Denim

Washed, dyed, painted, re-washed x 13, to create fraying and effects unique to each pair. But that's not all! Each pair carries 16 one-carat rubies, 26 0.05-carat rubies, eight 0.05-carat diamonds, and 1,080 grams of white or rose gold. They are sold for $250,000, so why don't you buy a pair for each day of the week, for a total of $1,750,000

Your best dress: The Black Diamond Dress by Debbie Wingham

Via huffingtonpost.com

Oh, you know, it's just $5,700,000. NBD.

Your new bra: The Victoria's Secret Million Dollar Fantasy Bra

instablogsimages.com

It boasts nearly 3,400 precious gems including 142 carats of diamonds. The center of the bra includes two large white eight-carat diamonds and two 14-carat yellow diamonds. It will only cost you $2,500,000.

Your suit: Alexander Amosu's Bespoke Suit

justluxe.com

For just $103,000 you can have this suit made of the two most rare wools in the world and is threaded with 18-karat gold. The buttons are 18-karat gold and pavé. Daaaang.

Your crystal bathtub

A three-person bathtub carved from a single piece of rock crystal will cost you $850,000.

Your new hobby: playing this Heintzman Crystal Piano

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The nine-foot piano was recently purchased at auction for $3,220,000.

And last but not least, your new vacuum cleaner: GoVacuum's 34k Hold-Plated CV62711

bornrich.com

A vacuum cleaner? It's $1,000,000.

Congratulations! You just spent your lottery earnings.

Now go vacuum one of those houses.