$2B Powerball winner splurges 76M on mansions — but experts call it a ‘financial burden.’ Better ways to invest instead

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What would you bash if you won large successful the lottery? How astir splurging connected an assortment of multimillion-dollar homes and vintage cars?

That’s what Powerball victor Edwin Castro did, according to the New York Post (1).

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Since winning the historical $2.04B jackpot backmost successful 2023 and choosing a lump sum payout of $997 million, Castro purchased a luxury Los Angeles spot for $47 million, a $25.5 cardinal location successful the Hollywood Hills and a $4 cardinal location successful Altadena, California — not to notation a $250,000 vintage Porsche 911 and a 1958 Volkswagen autobus worthy astir $60K.

But it hasn’t each been creaseless sailing for the lottery winner. Castro’s $4 cardinal location was destroyed successful the 2025 Palisades Fire, prompting him to walk different $10 cardinal to acquisition fire-scorched tons successful Altadena with a program to rebuild those properties, the New York Post reported (2).

Are these omniscient investments for specified a ample currency windfall?

Paul Karger, cofounder of wealthiness advisory steadfast TwinFocus, told Fortune that luxury homes often go “a large ongoing fiscal load that [can take] respective years to merchantability (3).”

Simply maintaining a location tin outgo 1% to 4% of its worth annually, which means Castro could perchance walk millions of dollars each twelvemonth conscionable to clasp connected to his properties.

So, adjacent if you person the funds to bargain luxury properties, you request to recognize the wide expenses of owning and maintaining a home. It’s indispensable to fund for these attraction expenses and spot taxes. Understanding your finances and due budgeting tin assistance you mitigate immoderate fiscal load that whitethorn originate from impulsive purchases.

Advisor.com tin assistance you find a vetted fiscal advisor who tin assistance you negociate your finances and marque astute concern choices. All you person to bash is reply a fewer basal questions and Advisor.com volition lucifer you with a certified adept wrong minutes.

You tin past acceptable up a free, no-obligation consultation to spot whether they're the close acceptable for you.

Tying up your luck successful ample properties isn't needfully the champion mode to physique wealth. Check retired different ways to put successful existent property here.