Posted on 05/06/2008 8:26:31 PM PDT by NormsRevenge
ROSEVILLE, Minn. - Paul and Sue Rosenau say they already have everything they need, so their lives won't change that much after winning a $180.1 million Powerball jackpot.
"We realize that money is probably not as important as friendship and helping others. And that's what we hope to do with it," Paul Rosenau said at a news conference Tuesday when they accepted a ceremonial check.
Rosenau, 54, is a heavy equipment operator and his wife, Sue, works at an agricultural research institute. The couple from Waseca will take the prize from last Saturday's drawing in a lump-sum of $59.6 million after taxes.
Their win came five years to the day of the death of a 2-year-old granddaughter, Makayla, who had Krabbe disease, a nervous system disorder.
"It's very emotional to know that there's a reason for this," Sue Rosenau said.
She said the family has been involved in trying to get a Krabbe test part of routine newborn screenings. Their winnings may go toward those efforts, but the Rosenaus haven't made any decisions.
"It's been such a whirlwind," Paul Rosenau said. "It still hasn't sunk in."
Rosenau said there are things he and his 54-year-old wife have dreamed of — a new house, a vacation to Hawaii, taking a trip with their children — but for the most part they felt fortunate before they found out they won the Powerball jackpot.
"We don't need a lot. We've got more than what we need," he said. "We want to have a regular life."
from which they
will take the prize from last Saturday's drawing in a lump-sum of $59.6 million after taxes.
60% gone,, whoosh,, 120 million
wow
Why do these idiots always think it’s so important to risk their family’s safety and security, by going public right away.
Powerball allows you to collect through a trust or lawyer, without announcing who you are to every thief out there.
You beat me to it.
Now everyone they ever met, will figure that they are entitled to some quantity of money, burglars will target their home looking for cash and expensive items.
Relatives will decide that they are entitled to every penny, cousins will decide that their college careers are going to be financed 100%.
Why not keep quiet, open a trust, and get the money and if you want to give it away - you can do it privately.
Probably an NRA member family and a veteran.. but I hear ya.
60 million ain’t that much these days anyway. ;-)
I had a friend who worked for the New York Lottery. He told me that most people said they didn’t want to be interviewed when they claimed their prize but when they saw the cameras a large amount of them couldn’t resist.
If it works like most lotteries, if you take the lump sum it’s have of the advetised amount, which it the amount of the annuity once it’s matured. So the would have taken a lumps sum of 90 million before taxes. They still lose over a third of their winnings though.
“All but three states (DE, KS, ND) have laws that require the lottery to release the name and city of residence to anyone who asks.”
....our state[NC]does the whole publicity stunt thing for amounts as low as $20k...part of it is so the public can’t accuse the lottery commission of hoarding the money....they’ve got to show they’re really dispersing it...on the huge jackpots you’ve got 180 days to claim...so some winners wait to get everything in place before coming foreward.
It's math worthy of Bill Clinton.
The prize is an amortized amount, usually over 20 years, based on the pool at the time the numbers are drawn.
They're pretty good at predicting the prize, but if you leave it to collect over 20 years you're going to get it back in cheaper dollars (the effect of inflation) and at the cost of what you could have made had you invested this. That's assuming the politicians don't raid the pot, or otherwise fuxxor the result. Me? I'd take the lump sum and run.
In actuality, the pot is about 1/2 the face amount of the prize; from that you pay ±40% taxes depending on where you live. On the half, you wind up with about 1/3 of the face value of the prize.
As to claiming it under your own name... I've heard that winners have created a whole new identity (setting up a house, changing their name, etc) just long enough to claim the money
I’d take the 60 mil in hand now and take the money and run. my other half would want the 20 year payout.. she likes annuities. oh well, that would be a heck of a predicament to be in that I know we all would readily welcome.
I would be happy to be their friend!
They tax a tax. What a bunch of worthless cretins politicians are.
Fixed it.
It’s called ‘easy money’, for the gubamints, not the winners.
Dirty bastards. They sell the lottery to the population as a way to pay for this or that and not ‘raise taxes’ (our state it was supposed to be dedicated to schools). They spend 5% of the stinkin money on annoying ads 24/7. They take another 85% of the collected funds to go into general funds (where it usually squandered on Diversity Trainers, low income housing and other assorted BS). Then when someone wins they take 70% in ‘taxes’. It is criminal activity, pure and simple.
Actually it’s closer to 70%.
70% of the money in “taxes”?!!
Where’s the Second Revolution?
LOL
My accountant has a client that won a 3 mil lotto. This guy changed his residency to avoid State taxes, and got a financial adviser who had customers lined up to buy the annuity and more than double of what the lotto offered for cash payout. Apparently, there are businesses that buy these.
3 mil lotto
Should read 30 mil lotto.
They should plan a quick move to South Dakota and avoid Minnesota’s state income tax.
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