By Jacob Kane:
Alex Maxwell, the acclaimed personal finance advisor of West Chester, Pennsylvania, was seen yesterday at the local convenience store purchasing Mega Millions and Powerball tickets ahead of the drawings this weekend. Powerball is expected to reach an annuity value of $700 Million before the drawing, with a cash value of $550 Million. Mega Millions is expected to reach an annuity value of $980 Million, and a cash value of $710 Million.
We were on the scene to ask Maxwell what he planned on doing with his winnings. With stacks of loose ticket stubs sticking out of his pockets along with two generous handfuls of tickets, he replied to us, “I don't know. Probably start by paying off my credit card debt, then I guess I’ll need a new car to flaunt my massive wealth. After that, I guess I will have to start looking towards drugs. Maybe I’ll go to Atlantic City and double my money a few times.” When asked if he would be taking the cash or annuity payment, he replied “I want my money and I want my money now! I don’t care about any annuity, I just want that cash money. Gotta have money to spend money, right?”
While Maxwell seemed very optimistic in his chance at winning, we did have to question him about the incredible odds against him. When we asked how confident he was that he would actually win the impossible prize, he answered “Of course I’m gonna win big! Why else would I have bought $200 worth of lottery tickets. I mean, that would be bad financial planning, right?” When we questioned Maxwell on what he would do if he did not win anything, he fell very quiet. He briefly mumbled something about having to pay Pablo under his breath, and then started to cry in the middle of the store. Once he calmed down again, he reassured us that he was definitely going to win because he had no other options left.
Maxwell has been a staple in the Delaware Valley financial community for more than thirty years. He started his own firm, Maxwell & Co., in 1998 after leaving Wachovia Bank’s personal lending department. He has worked with clients on budgeting, saving, avoiding frivolous spending, and even gambling and drug addictions. Professionally, he advocates for avoiding debt and wasteful spending (gambling, gym memberships, streaming services) and saving as much of your money as possible.