Want to win both jackpots? Thrivent shares the odds

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Mar 26, 2024, 10:53 ET

MINNEAPOLIS, March 26, 2024 /PRNewswire/ -- Right now, millions of Americans are trying to win big.

Do you know that the odds of winning both major lottery jackpots are 1 in 88 quadrillion? Yes, you read that right – 15 zeroes!

Anyone would be happy with just one jackpot or even a small part of one, but the truth is the odds aren't in your favor. But, by how much? The Data Science team at Thrivent – a Fortune 500 financial services company – puts it into perspective with some striking combinations of events that are more likely to happen than winning:

You have a 1 in 19.2 trillion chance of becoming an astronaut and getting hit by a meteor.
You have a 1 in 10 trillion chance of being struck by lightning twice in a single year.
You have a 1 in 6.62 trillion chance of winning an Olympic medal and becoming the President of the United States.

Despite the long odds, a lucky winner will soon inherit the fortune of their dreams. What should they do with their newfound money? Thrivent suggests three tips to start:

Assemble a team: You're suddenly going to have more money than you know what to do with. Find the right experts to support you, including a financial advisor, and a legal and accounting partner. Beyond managing money, your financial advisor should work with your professional team to help you identify and navigate the impact of important financial decisions.
Prioritize your purpose: Your life will change overnight, but hopefully your purpose – and what guides you – stays the same. Keep purpose at the forefront – it will help you spend in a way that matches your values. You may also find greater fulfillment once you see how your financial decisions line up with what matters most to you.
Have a plan: Having a sudden windfall makes it all too easy to spend freely or be incredibly generous. Before you spend, work with a financial advisor to develop a written financial plan that reflects your goals, and establish a "who, what, when and how" for your money that enables you to give generously, but with intention.

Feel free to use these tips and stats from Thrivent in your stories. If you'd like to speak with a Thrivent financial advisor on this topic, please contact Samantha Mehrotra at Thrivent ([email protected]).

About Thrivent
Thrivent is a diversified financial services organization that helps people achieve financial clarity, enabling lives full of meaning and gratitude. Thrivent and its subsidiary and affiliate companies serve more than 2.3 million clients, offering advice, insurance, investments, banking and generosity products and programs online and through financial advisors and independent agents nationwide. Thrivent is a Fortune 500 company with $179 billion in assets under management/advisement (as of 12/31/23). Thrivent carries ratings from independent rating agencies which demonstrate the strength and stability of the organization, including an A++ rating from AM Best; an Aa2 rating from Moody's Investors Service; and an AA+ rating from S&P Global Ratings. Ratings are based on Thrivent's financial strength and claims-paying ability, but do not apply to investment product performance. For information on these ratings, visit the rating agency's website. Dividends are not guaranteed. For more information about Thrivent, visit Thrivent.com or find us on Facebook, Instagram and LinkedIn.

Thrivent is the marketing name for Thrivent Financial for Lutherans. Insurance products issued by Thrivent. Not available in all states. Securities and investment advisory services offered through Thrivent Investment Management Inc., a registered investment adviser, member FINRA and SIPC, and a subsidiary of Thrivent. Licensed agent/producer of Thrivent. Registered representative of Thrivent Investment Management Inc. Thrivent.com/disclosures.

SOURCE Thrivent