Latest news with #RobBurnette
Indianapolis Star
a day ago
- Business
- Indianapolis Star
Powerball hits highest jackpot of year; Here's where winners could claim it anonymously
The Powerball jackpot has hit the high-water mark of $605 million, attracting players for the highly anticipated drawing on Monday, Aug. 18 at 11 p.m. ET. The grand prize, though sizeable, still has a way to go before it can rank among the top ten Powerball jackpots. To reach the tenth spot, the prize must surpass $731.1 million, which was won in Maryland on Jan. 20, 2021. To claim the top spot, the total payout would need to be over $2.04 billion, which was won in California on Nov. 7, 2022. Laws in some states would allow a winner to claim the jackpot anonymously. If the first winner since the May 31 drawing is in one of those states, we may never know who it is. Aug. 18's jackpot clears all prize-size requirements in states that have them. Arkansas is the only state that grants anonymity for winners on a temporary basis, with the identities of winners in the state shielded for three years. Here are the places where winners can claim lottery prizes anonymously, along with the requirements for doing so. The 'smartest thing' a player can do, in the event of beating the one in 292,201,338 odds, is keep calm and carry on, financial advisers shared with USA TODAY back in 2024. Avoid posting any and all details of your win on social media and limit who you tell about your windfall. 'If you're lucky enough to win the lottery, keep it quiet,' Rob Burnette, an Ohio-based financial adviser at Outlook Financial Center, said. 'Get organized and make a plan. Consider staying anonymous, if it's a possibility.' If you find yourself in a situation where you stand to inherit millions of dollars, the best thing to do is get in touch with financial experts right off the bat so scammers don't have the chance to take advantage before you can cash in. Steve Azoury, owner of Azoury Financial in Troy, Michigan, who has advised many lottery winners, told USA TODAY that a $181 million winner said,' 'If I didn't know you before, I don't want to know you now.'' 'Get a tax attorney and a tax accountant right off the bat and then a financial adviser,' Azoury said. 'They'll work hand in hand to figure out the plan.' Tickets can be purchased in person at gas stations, convenience stores and grocery stores. Some airport terminals may also sell lottery tickets. You can also order tickets online throughJackpocket, the official digital lottery courier of the USA TODAY Network, in these U.S. states and territories: Arizona, Arkansas, Colorado, Idaho, Maine, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New York, Ohio, Oregon, Puerto Rico, Washington D.C. and West Virginia. The Jackpocket app allows you to select your lottery game and numbers, place your order, view your ticket, and collect your winnings — all using your phone or home computer.
USA Today
a day ago
- Business
- USA Today
Powerball hits highest jackpot of year; Here's where winners could claim it anonymously
The Powerball jackpot has hit the high-water mark of $605 million, attracting players for the highly anticipated drawing on Monday, Aug. 18 at 11 p.m. ET. The grand prize, though sizeable, still has a way to go before it can rank among the top ten Powerball jackpots. To reach the tenth spot, the prize must surpass $731.1 million, which was won in Maryland on Jan. 20, 2021. To claim the top spot, the total payout would need to be over $2.04 billion, which was won in California on Nov. 7, 2022. Laws in some states would allow a winner to claim the jackpot anonymously. If the first winner since the May 31 drawing is in one of those states, we may never know who it is. Aug. 18's jackpot clears all prize-size requirements in states that have them. Arkansas is the only state that grants anonymity for winners on a temporary basis, with the identities of winners in the state shielded for three years. Here are the places where winners can claim lottery prizes anonymously, along with the requirements for doing so. Lucky or unlucky numbers? With biggest jackpot in 2025, these Powerball numbers haven't won for weeks Map: Where lottery winners can remain anonymous What should you do if you win the Powerball? The 'smartest thing' a player can do, in the event of beating the one in 292,201,338 odds, is keep calm and carry on, financial advisers shared with USA TODAY back in 2024. Avoid posting any and all details of your win on social media and limit who you tell about your windfall. 'If you're lucky enough to win the lottery, keep it quiet,' Rob Burnette, an Ohio-based financial adviser at Outlook Financial Center, said. 'Get organized and make a plan. Consider staying anonymous, if it's a possibility.' If you find yourself in a situation where you stand to inherit millions of dollars, the best thing to do is get in touch with financial experts right off the bat so scammers don't have the chance to take advantage before you can cash in. Steve Azoury, owner of Azoury Financial in Troy, Michigan, who has advised many lottery winners, told USA TODAY that a $181 million winner said,' 'If I didn't know you before, I don't want to know you now.'' 'Get a tax attorney and a tax accountant right off the bat and then a financial adviser,' Azoury said. 'They'll work hand in hand to figure out the plan.' Where to buy lottery tickets Tickets can be purchased in person at gas stations, convenience stores and grocery stores. Some airport terminals may also sell lottery tickets. You can also order tickets online through Jackpocket, the official digital lottery courier of the USA TODAY Network, in these U.S. states and territories: Arizona, Arkansas, Colorado, Idaho, Maine, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New York, Ohio, Oregon, Puerto Rico, Washington D.C. and West Virginia. The Jackpocket app allows you to select your lottery game and numbers, place your order, view your ticket, and collect your winnings — all using your phone or home computer. Contributing: Medora Lee, Amaris Encinas – USA TODAY
USA Today
03-07-2025
- Business
- USA Today
If you're missing buy now pay later payments, FICO's new credit score plan may hurt you
New credit scoring will soon include buy now pay later, a welcome change for lenders who don't want to make risky loans but maybe not so much for the growing share of users paying late. Major credit scoring company FICO said this week it'll launch a credit score model this fall that includes BNPL loans, which allow people to make purchases and typically, repay over four installments in six weeks. Up until now, BNPL hasn't been included in credit scoring. They've barely even been reported to credit agencies. Affirm only said earlier this year it would begin reporting to Experian and TransUnion, and Klarna sends some data to TransUnion. BNPL's popularity has grown quickly, partly because those super short-term loans went unnoticed by credit bureaus. With that about to change, experts say consumers must start paying more attention to their BNPL loans. It's a 'double-edged sword,' said Bobby Ritterbeck, president at lender Best Egg. 'For disciplined users, this creates an incredible opportunity to build credit through responsible BNPL behavior. But for those with irregular payment patterns or high outstanding balances, it will have the opposite effect.' How many people could be negatively affected? A survey by LendingTree of 2,000 adults taken in early April showed almost half of respondents have used BNPL, with 60% saying they've held multiple BNPL loans at one time. Nearly a quarter (23%) have held three or more. BNPL users also tend to lean younger, surveys show. 'BNPL's popularity has exploded in part because it's easier to get than many other loan types,' LendingTree said. 'However, that easy access also makes it dangerous. Getting more than one loan at a time makes managing them more challenging.' An alarming 41% of users paid late at least once in the past year, up from 34% a year ago, it said. Those missed payments may not have affected your credit score before, but they will soon, experts warn. 'Thirty-five percent of your FICO score is paying your bills on time,' said Rob Burnette, investment advisor representative at Outlook Financial Center. Why are credit scores important? Credit scores are used to determine how much you can borrow and how much it will cost you. They help determine 'interest rates for loans and mortgages, your insurance premiums, rental approvals, credit limits on credit cards, and can potentially impact employment,' said Haiyan Huang, chief credit officer at Prosper. What should BNPL users do to preserve their credit scores? 'Now is the time to act -- audit your finances, identify any open BNPL loans, and catch up on missed payments,' Ritterbeck said. 'Consider setting up autopay or reminders so future payments stay on track. My biggest piece of advice is to treat BNPL like any other form of credit because it will soon carry the same weight in determining your financial future.' Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
