A single ticket sold in Wisconsin matched all six numbers in the Wednesday night Powerball drawing to win the third-largest jackpot in U.S. lottery history. Due to strong ticket sales, the jackpot climbed to an estimated $768.4 million at the time of the drawing with a cash option of $477 million.

Powerball said the winning numbers are 16, 20, 37, 44, 62 and the Powerball number is 12.

The $768.4 million is the third-largest behind the world record $1.586 billion Powerball jackpot shared by winners in California, Florida and Tennessee in January 2016, and the $1.537 billion Mega Millions jackpot won in South Carolina last October.

“It’s going to be a very green spring for our first Powerball jackpot winner of 2019,” David Barden, Powerball Product Group chairman and New Mexico Lottery CEO, said in a statement. “A jackpot of this size can make many dreams come true – not just for the winner, but for all Lottery beneficiaries and the lucky state of Wisconsin.”

Although the prize has grown steadily since the last jackpot winner on Dec. 26, the odds of matching the five white balls and single Powerball remain one in 292.2 million.

The $768.4 million estimated figure refers to the annuity option, paid over 29 years. Nearly all grand prize winners opt for the cash prize, which for Wednesday’s drawing would be an estimated $477 million. Both prize options are before taxes.

Seven tickets matched all five white balls, but missed matching the red Powerball in Wednesday’s drawing to win a $1 million prize. Those tickets were sold in Arizona, two in California, Indiana, Missouri, New Jersey and New York. Two other tickets, sold in Kansas and Minnesota, matched all five white balls and doubled the prize to $2 million, because the tickets included the Power Play option for an additional $1.

Powerball is played in 44 states, plus Washington, D.C., the U.S Virgin Islands and Puerto Rico.

Lottery officials are required to withhold 24 percent for federal taxes. However, the top marginal tax rate of 37 percent means the winner will owe much more at tax time. And Wisconsin also will get a piece.

The cash option for this jackpot — which most winners go with — is $477 million. The 24 percent withholding will reduce that amount by $114.5 million.

Assuming the winner had no reduction to their taxable income — i.e., large charitable contributions from their win — another 13 percent, or $62 million, would be due to the IRS. That would be $176.5 million in all going to Uncle Sam.

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On top of federal taxes are state taxes. In Wisconsin, lottery officials will withhold 7.65 percent, or $36.5 million, for state coffers.

Given the sheer size of the jackpot, experts say it’s crucial to assemble a team of experienced professionals to help navigate the windfall: an attorney, a tax advisor and a financial advisor.

“There’s a big responsibility that goes with have such a large sum of money,” said certified financial planner Dan Routh, a wealth advisor at Exencial Wealth Advisors in Oklahoma City. “It would be important to surround yourself with a quality team that’s working in your best interest.”

Also, the winner should brace for the world finding out who they are: Wisconsin does not allow winners to remain anonymous.

Values-aligned investing is called by many different names, which are commonly misused or misunderstood by investors.

Let me decode the lingo, because a shared understanding of the terminology makes this type of investing more accessible to advisors and investors alike. Please note that there are no universally agreed upon definitions among professionals, and everyone uses the words a bit differently. After 15 years of working in this space, this is how I define the most commonly used terms.

ESG: ESG is shorthand for “environmental, social and governance data.” Business data in each of these three categories are used in tandem with traditional financial metrics to more deeply understand the risks and opportunities an investable company faces.

Often, ESG data are referred to as “non-balance sheet risk” — but an unexpected incident can quickly move that risk onto the balance sheet. The key takeaway is that ESG is data. How each fund manager or investment professional uses that data varies widely. For more on the different ways ESG data are used, see the ESG section of this article.

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SRI: SRI stands for “socially responsible investing.” However, some professionals have kept the initials and substituted new words: “sustainable, responsible and impact investing.” Here, I am defining the traditional and more commonly used term, socially responsible investing.

SRI has historical roots in investing and divesting according to religious values. It grew to include expressing secular values, as well, historically through divesting (choosing not to own and/or selling existing ownership) paired with shareholder engagement (groups of shareholders in conversation with company management about advancing social or environmental good within the company or the communities affected by the company’s business) and proxy voting (how shareholders elect boards and vote on other corporate matters).

The term SRI now also encompasses thoughtful investing in companies that do well by people and planet, as well as lending to underserved communities. The key takeaway is that SRI tends to express values. The values may be those of the client, general values for a fund or thematic values (investing in renewable energy, for example).

These days, it seems some parents are willing to do whatever it takes to get their kids into what they think is the “right” college.

While cheating and bribing, which are core allegations in the recent Operation Varsity Blues college admissions scandal, is a clear no-no, other parental “help” — such as editing, writing or rewriting an application essay — is becoming more common.

Part of the problem is that the process of applying to college is confusing — and competitive, particularly for the most selective universities, said Elizabeth Heaton, vice president of educational counseling at Bright Horizons’ College Coach.

“People let the stress of it push them to do things that in their heart of hearts they know is not right,” she said. “They justify it by saying everyone is doing it.

“I’m telling you that they are not.”

Then there is the so-called helicopter parent, who is trying to protect their child from any pain.

“Parents have too much invested in their kids,” said Mark Sklarow, CEO of Independent Educational Consultants Association. “They want to put the name-brand sticker in the back window of the family car.

“They give more thought to getting into the name-brand university than they do in the appropriateness of the school.”

Ethics expert Andrew Cullison said several things come into play when parents consider breaking the rules.

They “may be justifying this, in part, because they think there is something broken about the system,” said Cullison, director of The Prindle Institute for Ethics at DePauw University.

Start spreading the news: New Yorkers are coughing up the most cash in state income taxes.

The Empire State collected $2,249 per capita in individual income taxes during the 2017 fiscal year, according to data from the Tax Foundation.

Connecticut was second, with $2,218 in individual income taxes per capita. Massachusetts came in third with $2,146 per capita.

In all, seven states don’t tax individual income: Alaska, Florida, Nevada, South Dakota, Texas, Washington state and Wyoming.

Meanwhile, Tennessee and New Hampshire don’t tax wages, but they both tax income from interest and dividends.

See below for a map of where your state ranks with respect to income tax, according to data from the Tax Foundation.

Income taxes make a significant contribution to states’ coffers. Nearly 40 percent of state tax collections come from levies on your wages, according to the Tax Foundation.

If you’re thinking of fleeing to a place with a lower or no income tax, remember that states need to get their revenue from somewhere.

“There are other taxes that matter, including sales and property taxes,” said Katherine Loughead, policy analyst at the Tax Foundation.

“The state estate tax can factor in for a lot of people as to whether they’ll be taxed at high rates if they pass their estate along to their heirs,” she said.

Here’s an example: New Hampshire won’t levy your wages, yet the Granite State imposes some of the highest state and local property taxes per capita — $3,115, the Tax Foundation found.

Further, some localities have their own income levies. This means that, while the state you move to matters, so does the city or town in which you work or reside.

“Local taxes can really depend on whether you live in an urban environment versus rural,” said Loughead.

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Warren Buffett, Charlie Munger and Bill Gates attend a product launch in Beijing, China for BYD, the electric battery, car, and solar energy company in which Munger long ago led an investment for Berkshire Hathaway.

Warren Buffett, chairman and CEO of Berkshire Hathaway, is for many people the first source to consult when it comes to the development of an investing philosophy. The billionaire investor has has never shied away from sharing his views with the public, either — and not only when it comes to stock market value. Issues of politics, social policy, ethics and simply making money the right way are themes that Buffett has returned to many times.

But one place where Buffett has always drawn the line is making clear his personal views have no place in how he runs Berkshire Hathaway for shareholders. He may be for more taxes on the super-rich, but that doesn’t mean he is against a tax break that helps a Berkshire business. He isn’t going to tell a company he owns how to respond to calls for more corporate support for gun control, an issue that came up at least year’s Berkshire Hathaway annual meeting.

“I don’t believe in imposing my political opinions on the activities of our businesses,” Buffett said.

On one issue of rising social and investing importance, Buffett is still making many trade-offs: climate change.

Berkshire Hathaway Energy, Buffett’s large utility conglomerate, owns western utility PacifiCorp, which has a sizable fleet of coal power plants. Berkshire’s Burlington Northern railroad ships a lot of coal, too. But the Berkshire utility company also is one of the biggest wind energy producers in the U.S. through its MidAmerican Energy utility affiliate based in Iowa, while its NV Energy in Nevada is increasing its renewable generation from 24 percent to a percentage in the high 40s by 2023, mostly using geothermal and solar power.

Berkshire’s largest business of all is insurance, which in recent years has seen massive claims related to natural disasters.

You’ve probably heard of the FIRE — financial independence, retire early — movement, the trend that’s taken hold among individuals who are mostly in their 20s and 30s.

But you probably haven’t heard of the “super savers,” Americans age 45 and older who are putting away at least 20 percent of their income — or $1 out of every $5.

A new online survey from TD Ameritrade of 1,503 individuals in September and October found that 20 percent count as savings over achievers.

“Most are choosing this path because they’re looking at the freedom and flexibility it offers,” said Dara Luber, senior manager of retirement at TD Ameritrade. “They are looking for financial security and peace of mind, and they’re thinking that their retirement will be like a second childhood.”

The survey found that 57 percent of super savers plan to retire earlier than their parents did, versus 46 percent of non-savers.

About half of 18-to-34-year-olds said affording a down payment was the single greatest financial barrier to homeownership, according to the Urban Institute and Country Financial. (Despite most Americans’ belief that you must put 20 percent or more down, 71 percent of current homeowners made down payments of 20 percent or less, according to Census data.)

“Purchasing a home is much more than paying for a place to live; it’s a major investment of both time and money,” said Doyle Williams, Country Financial executive vice president. “Once you’ve done that, there’s a benefit to being a homeowner: You are building equity with every mortgage payment.”

If given $25,000 tomorrow, more millennials — about 26 percent — said they would rather put this newfound money toward a down payment for a new home than use it to pay off their credit card debts (17 percent) or student loans (16 percent), Country Financial said.

By contrast, Americans ages 35 to 49 would rather pay off their credit card debt (33 percent) or invest the funds (20 percent).

Country Financial surveyed over 1,000 adults in February for its Financial Security Index.

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A pamphlet about the new tax laws is displayed at Liberty Tax Service tax in Oakland, California.

If you’re more confused than usual filing your tax return this year, you’re not alone.

The majority of Americans are struggling with some basic concepts of the new U.S. tax code, according to a study by online investment company Betterment, which surveyed 1,000 people last month.

“Not everyone needs to know down to the penny, but not having a general grasp of their income versus their expenses, is a little bit scary,” said Eric Bronnenkant, author of the Betterment report.

What was the biggest misconception following implementation of the Tax Cuts and Jobs Act, the overhaul that passed in December 2017 and went into effect in 2018?

“That everyone’s taxes are going to go down,” said Bronnenkant. “That’s definitely not true.”

Here are four key points Americans might misunderstand about the new tax law.

At this point, Apple isn’t sweetening the deal with a 0 percent introductory interest rate or balance transfer offers, Rossman said.

Rewards-wise, the card is also lackluster, he said.

The Apple card grants 2 percent cash back on Apple Pay transactions, 3 percent on direct Apple purchases and 1 percent on purchases with the physical card, according to the announcement Monday.

Other cards, such as the Citi Double Cash card, offer 2 percent cash back on all purchases — not just ones on Apple Pay, Rossman said.

What’s more, Rossman said, the U.S. Bank Altitude Reserve Visa Infinite card rewards mobile spending with 3 percent cash back or 4.5 percent off travel. “That’s really interesting: U.S. Bank offers better Apple Pay rewards than Apple,” Rossman said.

The Apple Card might make sense for people who frequently shop at the technology giant, said Matt Schulz, chief industry analyst at CompareCards.com.

Still, he said, he was scratching his head at the attention the card was receiving for having no fees. “Mr. Cook might have been overselling it a little bit,” he said. (For example, PenFed Credit Union has a card with no fees, and Citi has one without annual or late charges.)

“I was surprised that the offer didn’t have a little more to it,” Schulz added, “just because it’s such a competitive space.”

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