Powerball’s jackpot has climbed to $1.8 billion ahead of Saturday night’s drawing at 10:59 p.m. ET.

No one has won since May, making it the third-largest jackpot in U.S. history, and it could climb past $2 billion if there’s no winner and the prize carries over to Monday night’s drawing. That would be only the second time Powerball has reached $2 billion. 

The last jackpot over $1 billion was claimed in April 2024. The largest since then was a $526.5 million win in March.

To claim the prize, you need to beat odds of 1 in 292,201,338 and match all six numbers, including the red Powerball. Smaller prizes are also available, including $1 million for matching all five white balls without the Powerball.

Winners can choose between two payout options: the full jackpot paid out as annual installments over 30 years or a lump-sum cash payment worth about 45% of the advertised prize.

Whichever option you take, 24% is withheld for federal taxes immediately. The prize would almost certainly place you in the top 37% federal bracket, meaning you would owe the remainder when filing your 2025 tax return.

Most participating states also impose their own income taxes, which range from 2.5% to 10.9%. Eight states do not tax lottery winnings at all: California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming.

Based on a top federal tax rate of 37%, here is what the total after-tax payout would be in each state and Washington, D.C., for both the lump sum and the 30-year annuity, according to USAMega.com.

• Lump sum: $500,014,980
• Annuity: $1,090,289,400

• Lump sum: $488,445,380
• Annuity: $1,065,089,400

• Lump sum: $520,674,980
• Annuity: $1,135,289,400

• Lump sum: $484,313,380
• Annuity: $1,056,089,400

• Lump sum: $462,909,620
• Annuity: $1,009,469,400

• Lump sum: $466,132,580
• Annuity: 1,016,489,400

• Lump sum: $520,674,980
• Annuity: $1,135,289,400

• Lump sum: $477,784,820
• Annuity: $1,041,869,400

• Lump sum: $473,611,500
• Annuity: $1,032,779,400

• Lump sum: $479,768,180
• Annuity: $1,046,189,400

• Lump sum: $495,882,980
• Annuity: $1,081,289,400

• Lump sum: $489,271,780
• Annuity: $1,066,889,400

• Lump sum: $473,570,180
• Annuity: $1,032,689,400

• Lump sum: $487,618,980
• Annuity: $1,063,289,400

• Lump sum: $495,882,980
• Annuity: $1,081,289,400

• Lump sum: $461,587,380
• Annuity: $1,006,589,400

• Lump sum: $442,166,980
• Annuity: $964,289,400

• Lump sum: $446,298,980
• Annuity: $973,289,400

• Lump sum: $485,552,980
• Annuity: $1,058,789,400

• Lump sum: $439,274,580
• Annuity: $957,989,400

• Lump sum: $484,313,380
• Annuity: $1,056,089,400

• Lump sum: $481,834,180
• Annuity: $1,050,689,400

• Lump sum: $471,917,380
• Annuity: $1,029,089,400

• Lump sum: $477,702,180
• Annuity: $1,041,689,400

• Lump sum: $520,674,980
• Annuity: $1,135,289,400

• Lump sum: $431,836,980
• Annuity: $941,789,400

• Lump sum: $471,917,380
• Annuity: $1,029,089,400

• Lump sum: $430,597,380
• Annuity: $939,089,400

• Lump sum: $485,552,980
• Annuity: $1,058,789,400

• Lump sum: $496,709,380
• Annuity: $1,083,089,400

• Lump sum: $494,849,980
• Annuity: $1,079,039,400

• Lump sum: $481,420,980
• Annuity: $1,049,789,400

• Lump sum: $438,861,380
• Annuity: $957,089,400

• Lump sum: $495,304,500
• Annuity: $1,080,029,400

• Lump sum: $471,173,620
• Annuity: $1,027,469,400

• Lump sum: $469,438,180
• Annuity: $1,023,689,400

• Lump sum: $520,674,980
• Annuity: $1,135,289,400

• Lump sum: $520,674,980
• Annuity: $1,135,289,400

• Lump sum: $520,674,980
• Annuity: $1,135,289,400

• Lump sum: $448,364,980
• Annuity: $977,789,400

• Lump sum: $473,156,980
• Annuity: $1,031,789,400

• Lump sum: $520,674,980
• Annuity: $1,135,289,400

• Lump sum: $431,836,980
• Annuity: $941,789,400

• Lump sum: $480,842,500
• Annuity: $1,048,529,400

• Lump sum: $457,455,380
• Annuity: $997,589,400

• Lump sum: $520,674,980
• Annuity: $1,135,289,400

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Unlike most Americans, Marsai Martin started working a steady job — as a child actor — at age 9.

Martin, now 21, co-starred in ABC’s television show “Black-ish” from ages 9 to 18. The experience of joining a workforce so young warped her perception of what success looked and felt like, she tells CNBC Make It. She only recently started to include her own health and happiness as part of the equation, she adds.

“I thought that success was one of those things where you’re always running … and you get no sleep, and that’s success because you’re working all the time,” says Martin, who partnered with fintech company Chime’s “Mama I Made It” YouTube series on August 27 for financial awareness. “You’re busy and you can’t eat because you’re always moving around.”

She spent her teenage years trying to emulate the behavior of the ultra-busy adults around her, she says. She made sure her planner was always full, blocking out time for practicing her lines, staying up-to-date on the entertainment business’ news and journaling everything that came to mind — anything to make sure she was staying busy, a spokesperson says.

Martin even added activities like brushing her teeth or taking her daily vitamins to her calendar, so she could feel like she had a schedule to manage, the spokesperson added.

But Martin didn’t feel successful, she says. Rather, she felt drained and unfulfilled. “I was like, I don’t like this at all. I’m not happy,” she says, adding that she was “constantly questioning: ‘Is this my life? Is this what I have to do?’”

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There’s a difference between occupying your time with projects you love, or work that challenges you, and over-packing your schedule to the point of burnout. Plenty of seemingly successful people have learned this the hard way, from Bill Gates to Beyoncé.

As Martin grew out of her teenage years, her definition of success expanded to include finding happiness, learning new skills and nurturing her financial and mental health, she says. That’s a generally healthy evolution, some experts say: You should always balance your career ambitions with your health and happiness, Peloton vice president of fitness programming Robin Arzón said on a March 2024 episode of Wharton psychologist Adam Grant’s “ReThinking” podcast.

“Hustle requires the confidence to define what the ladder looks like, what the definition of success looks like,” said Arzón. “And my definition of success includes my own self-care practices … I’ve long understood my own energy to be a currency, and I think about how I’m spending it or saving it very much how somebody might think about their finances.”

If you work a standard 9-to-5 job, try treating your weekends like a vacation, author and happiness researcher Cassie Holmes advised the “Everyday Better with Leah Smart” podcast in a November 2024 episode.

Take a pottery class, relax on the beach, go on a nature walk — do whatever relaxes and recharges you that you usually don’t have time for. “Some people are like, well [the weekend] is when I get my chores done,” said Holmes. “Why don’t you carve out Saturday? And then Sunday, you can do all the stuff that you have to do.”

When your career dictates how successful you think you are, your identity and self-worth can become reliant on your job, entrepreneur and bestselling author Tim Ferriss told CNBC Make It in June. Finding new interests that you can practice regularly can give you a renewed sense of purpose and boost your mental health, he said.

“It just needs to be consistent. Like, a couple times a week — one time a week, even — so that you have some type of way to make progress in an area that is not your primary lane,” said Ferriss.

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Parents are constantly searching for ways to get their kids to listen. But a lot of us focus too much on trying to get them to obey in the moment, rather than building genuine long-term cooperation.

I’ve studied over 200 parent-child relationships, and I’m a mother myself. I’ve learned that kids listen best when they feel connected. A big part of that is emotional safety: knowing they are respected and have the freedom to express their feelings.

Here are six magic phrases that calm a child’s nervous system and make cooperation feel natural, which is the real secret to getting them to listen.

The moment kids feel doubted (“Did you really mean to do that?”), their defenses go up. They shift from connection into self-protection.

Belief defuses shame and creates safety. When a child feels safe, they can actually hear you.

Example:

Child: “I didn’t spill the juice on purpose!”

Parent: “I believe you. Let’s clean it up together.”

You’re addressing the behavior without getting into an argument.

The situation often turns into a standoff when there’s a parent just barking orders. But when kids help solve the problem, they’re more likely to stick to the solution.

Example:

Child refuses to clean up toys.

Parent: “I see you don’t want to clean everything now. Let’s figure this out together. What’s the first step?”

You’re still holding the boundary while preventing power struggles.

When kids are overwhelmed, they’re in survival mode and logic doesn’t land. Their nervous system is in fight-or-flight, and they need help regulating their emotions. This phrase validates their feelings and assures them they’re not alone, which helps them reset.

Example:

Preschooler has a meltdown when their tower of blocks fall. Instead of “Stop crying, you’re overreacting,” say: “You can feel this. I’m right here.”

You’re letting the wave of emotions pass until they’re ready to re-engage.

Before a child will listen to you, they need to feel heard. This simple shift of giving attention before demanding it dissolves resistance. When kids feel understood, they stop trying to push back.

Example:

Child: “I’m never playing with my brother again!”

Parent: “I’m listening. Tell me what’s going on.”

Now you’re uncovering the deeper hurt behind the anger, and that’s the part you can address to help repair both the relationship and the behavior.

Many meltdowns escalate because kids feel misunderstood or in conflict with the very person they need most. This phrase instantly shifts you from adversary to ally, lowering defenses and opening the door to problem-solving.

Example:

Child: “This homework is stupid! I’m not doing it.”

Parent: “I hear you. I’m on your side. Let’s find a way to make this easier.”

Knowing you’re there to help changes the tone entirely. They’ll be far more likely to meet you halfway.

Mistakes can trigger shame. But when kids hear this phrase, they learn that love isn’t conditional on performance or perfection.

Example:

Your child breaks a classmate’s project and calls you in tears.

Instead of lecturing, you say: “I’ve got you, no matter what. We’ll make it right together.”

That’s the difference between fear-based compliance and real accountability.  

I always tell parents that if their default is yelling or threatening, then no “magic phrase” will undo the deeper pattern. But when you regularly protect your child’s dignity, make them feel safe, and follow through on boundaries, listening becomes the natural outcome.

Reem Raouda is a leading voice in conscious parenting and the creator of FOUNDATIONS, a step-by-step guide that helps parents heal and become emotionally safe. She is widely recognized for her expertise in children’s emotional safety and for redefining what it means to raise emotionally healthy kids. Connect with her on Instagram.

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Homebuyers are getting a bit more relief as mortgage rates continue to slide.

The average 30-year fixed rate fell to 6.5% on Thursday, down from 6.56% the previous week and well below the 2025 peak of 7.04% in January, according to Freddie Mac. Rates have been on a mostly downward trajectory since late May.

Mortgage rates tend to follow the 10-year Treasury yield, which has fallen in recent weeks. Demand for Treasuries has remained relatively stable as the job market shows signs of cooling and the Federal Reserve is expected to cut rates in September. More demand pushes Treasury prices up, which lowers yields and in turn brings mortgage rates down.

“We have seen that the employment sector has weakened, and there is other weaker economic data,” says Melissa Cohn, regional vice president of William Raveis Mortgage. “At the same time, the rate of inflation has remained fairly stable in spite of the impact of tariffs. That is a perfect recipe for lower rates.”

Cohn says “rates don’t fall in a straight line” and “upward bumps” are to be expected as markets respond to economic and political news. Still, the recent decline means homebuyers could save money on monthly homeownership costs.

Here’s a look at how 30-year monthly mortgage costs vary at different interest rates, based on a U.S. median home price of $410,800.

7.04% (Jan 2025 peak)

• 20% down payment: $2,195
• 15% down payment: $2,332
• 10% down payment: $2,470

6.5% (current)

• 20% down payment: $2,077
• 15% down payment: $2,207
• 10% down payment: $2,337

Compared with the peak rate in 2025, monthly mortgage costs have declined by $118 per month with a 20% down payment. For a 10% down payment, it’s savings of $133 per month.

Of course, the mortgage payment is only one part of the equation. Homeownership also comes with other recurring costs, such as property taxes, homeowners insurance, HOA fees and maintenance.

While the recent drop in rates may not create enough savings on its own to make a home purchase affordable, it can still make a meaningful difference in monthly budgeting.

To see how different mortgage amounts and rates would affect your monthly payment, try CNBC Make It’s mortgage calculator.

While mortgage rates can be hard to predict, the housing market has softened, which could make it the right time for buyers who can afford to purchase a home. 

National median home prices are down 0.2% since the start of the year, according to Realtor.com. 

Meanwhile, major forecasts — including from Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors — expect 30-year mortgage rates to remain largely flat in the mid 6% range through the end of 2025.

Want to stand out, grow your network, and get more job opportunities? Sign up for Smarter by CNBC Make It’s new online course, How to Build a Standout Personal Brand: Online, In Person, and At Work. Learn how to showcase your skills, build a stellar reputation, and create a digital presence that AI can’t replicate.

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Jason Jackson always wanted to be an entrepreneur, but he lacked the resources and ideas to start a business. So, when he discovered an investment vehicle called a search fund while studying for his MBA, he went all in.

As millions of baby boomers prepare to retire, a quiet crisis — and an unexpected business opportunity — is unfolding across the economy. Today, over half of all U.S. small businesses are owned by people aged 55 and over, yet most lack a succession plan, according to Gallup.

These businesses are often unglamorous, but essential to keep society running: plumbers, equipment rental companies and pest control.

“They’re the types of companies that if they drop what they do, it would really hurt,” said Jon Staenberg, founder & CEO of Agate Hound Fund.

Enter the next generation of entrepreneurs — millennials and Gen Zers — who are seizing this moment not by launching startups, but by buying companies through search funds. In doing so, they’re revitalizing Main Street businesses and solving a looming succession crisis, all while building wealth in a turbulent economy.

First conceived in 1984, search funds — also known as “entrepreneurship through acquisition” — let individuals — or “searchers” — raise money from a small group of investors to buy and operate a small or medium-sized private company.

A 2024 study by the Stanford Graduate School of Business describes the process in four steps:

1. Stage one: Raise initial capital (about 2 to 6 months)
2. Stage two: Search for and acquire company (about 12 to 24 months)
3. Stage three: Operation and value creation (about 4 to 7+ years)
4. Stage four: Exit (about 6 months)

The goal is to grow these businesses and exit with a profit — often to a private equity firm.

It’s a compelling model: lower risk than starting from scratch, since the business already has customers, revenue, and a product-market fit.

Acquisition targets are typically businesses with recurring revenue, low overhead, minimal regulatory risk, and stable customer bases.

“These are businesses that are, frankly, hard to break,” said Jackson, who is now a search fund investor. “It’s very forgiving for the first-time CEO.”

Besides “core” search funds, other variants include self-funded, single-investor models, while others prioritize a larger pool of capital committed at launch, or a longer holding period of between 10 and 20 years.

In 2023, a record 94 core search funds were launched across the U.S. and Canada, while international interest also set new milestones, with 59 new core funds outside North America, according to studies conducted by Stanford and IESE Business School.

Search funds have grown popular as traditional career paths feel less secure, with layoffs, automation and artificial intelligence reshaping industries.

“There is a big displacement of young professionals who are in the middle of their career,” said Aik Chuan Goh, managing partner of Singapore-based search fund Garlic Equity Capital. Many of these “ambitious young professionals no longer see corporate life as their future,” he added.

On the other hand, many business owners are looking to retire. “When you put one and one together, you have a great match,” said Goh.

Investors are taking notice too. Amid downturns in the venture capital and private equity markets, search funds have emerged as an alternative asset class.

“Venture [capital] is so crowded now. Search funds still remain small, while the opportunity set is so big — it’s the only thing I want to do for the rest of my career. You look at the returns, they’ve been phenomenal. They’ve been outsized,” said Staenberg.

Stanford’s 2024 study of 681 search funds formed in the U.S. and Canada since 1984 found that their internal rate of return was 35.1%, with a 4.5 times return on investment.

“Over the last 40 years, the stock market has been somewhere [around] 8.5% annual returns … Then you go to private equity or venture over that same 40-year period … and the returns are somewhere around 13% to 14%. So [when] you start looking at the outsized returns of 35% for search, it’s a bit of a head scratcher,” said Staenberg.

“We live in such a tumultuous time with change happening so fast, this feels like a very safe port in a storm.”

Meanwhile, search funds have also offered a risk–adjusted way for aspiring business owners to pursue their CEO dreams, such as Jackson, who, together with his friend Olaide Lawal, started their search fund in 2015.

About 18 months later, the duo raised more than $5 million and acquired three dental practices from a dentist who was in his 50s. Over the next six years, Jackson ran Unified Dental Care as CEO and grew the company to seven locations before selling the business to a strategic buyer in 2023.

But Jackson did not come from wealth. Growing up in Champaign, Illinois, he didn’t see many business success stories around him.

“It was normal for me to literally see in front of my door, gang fights [break] out … and so I did not have as much access to seeing entrepreneurs,” said Jackson.

“I saw the barber shop that was down the street, or I saw the person that owned the barbecue shop … [and] people that were making an honest living, but barely livable wages,” said Jackson.

“For me, the idea [of a search fund] was fantastic, because … I didn’t have the startup idea, so it was an opportunity for me to buy an existing business,” he said.

What makes search funds unique, he said, is that his investors also become his mentors.

“What separates search fund investors is that they provide, principally, three things to the entrepreneur. The first thing that they provide is [a] checkbook… This is something that I didn’t have access to,” said Jackson.

“Second thing that they provide access to is a phone book, meaning call me or call my network anytime … and the third thing that they provide [is a] playbook, meaning, here’s how you execute once you buy this business,” Jackson added.

“So it was a risk–adjusted path for me as a minority entrepreneur that didn’t come with a lot of resources to have … a successful exit,” said Jackson.

But running a search fund isn’t all smooth sailing. In fact, Jackson uncovered fraud two weeks into running the business: the seller had inflated revenue by millions.

“We thought we were buying a $7 million revenue company and $1.5 million in EBITDA,” said Jackson. “What we discovered was that the business was really doing $5 million in revenue and losing $500,000 a year after adjusting for the fraud.”

Despite the rocky start, Jackson turned the business around. He exited successfully, more than doubling his investment and earning seven figures altogether from his tenure as CEO and from the deal, according to documents reviewed by CNBC Make It.

“We eventually were able to sell the business at a decent multiple. It’s decent for the search fund industry. It’s really good compared to private equity, but it’s really great compared to where my partner and I came from. He came from Lagos, Nigeria. I came from an under-resourced community,” said Jackson.

Today, Jackson runs the Black Search Network, which he co-founded in 2020. He spends his time investing in and passing on the knowledge he’s gained through his own journey to other aspiring entrepreneurs and searchers.

Search funds are not a silver bullet. Besides dealing with rejection, searchers have to find a good business to buy, convincing the owner to entrust you with their life’s work, and of course, learning how to run a business for the first time.

But for a generation looking for stability and purpose, they may offer something rare in today’s economy: a practical, profitable, and supported route to owning a business.

“It truly is the life cycle of entrepreneurship,” said Staenberg. “It also allows people who are gritty, who are hungry, who are willing to be coached, to pursue what we used to call the American dream — to build a business into even more success and have an exit and then come back and help others do the same thing.”

Want to stand out, grow your network, and get more job opportunities? Sign up for Smarter by CNBC Make It’s new online course, How to Build a Standout Personal Brand: Online, In Person, and At Work. Learn from three expert instructors how to showcase your skills, build a stellar reputation, and create a digital presence that AI can’t replicate. Sign up today with coupon code EARLYBIRD for an introductory discount of 30% off the regular course price of $67 (plus tax). Offer valid July 22, 2025, through September 2, 2025.

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