Posted on 08/01/2014 4:52:42 AM PDT by SoFloFreeper
Kelsey Zachow bought the ticket on Friday the 13th last month, but didn't even know she had the winning slip until 11 days later. The mom of a 7-month-old, Zachow will take home $27 million in the lump sum payment after taxes, and plans to quit her jobs.
(Excerpt) Read more at nydailynews.com ...
Hubby and I blew some money yesterday on some chocolate chip cookies. Really bad for both of us, but we sure enjoyed them. I don’t usually care what other people spend their money on.
Will she turn in her EBT card too?
She’s so young. Should be taking it over 20 years or whatever to maximize the return.
Most states, as I understand it, don’t have the anonymous option.
When I win it big here in Md, you’ll never see my face.
Lotteries are someone dishonest in their advertisements.
Say you win a lottery with an advertised payout of $1,000,000 a year for 20 years. The Lottery agency will say it is a $20,000,000 payout which is true. But a $1,000,000 a year for 20 years is not worth a lump sum payment of $20,000,000. It is a simple time value of money problem.
How much are you willing to pay today for the right to receive $1,000,000 twenty years (19, 18, etc) from now.
I guess Im the only one who wonders why a single mom with 2 jobs is blowing money on the lottery?
<><><<
I think she now has 27 million reasons why.
I think if we took a look at your, or anyone else’s, spending we could find something frivolous, don’t you think?
I concur. If I were to win the lotto, then I wouldn’t tell anybody I couldn’t trust. I certainly wouldn’t let it become public knowledge. Especially since she has a young child.
She needs a reputable financial advisor.
And dead relatives!
...umm because it’s essentially a voluntary tax upon the poor like cigarettes?
What 20-25 year annuity?
She will have it stolen from her by many means.
The safety and security of your family is your first priority.
Take it as quietly as you can.
She may have 27 million reasons why, but most people that play lottery never win. Of course I spend some things frivolously, but I’m also not a single mother of 2 kids working 2 jobs trying to pay for them
The lottery is a tax on people who are bad at math, and I find it interesting that most winners are people who can least afford to buy tickets. It is a state sponsored money drain on the poor.
I did too.
For every story like this there are millions who spend money on lottery tickets instead of food for their kids.
Based on the behavior of past lottery winners there is a very good chance she’ll be bankrupt within 5 years.
In any state in the union you can form a Trust or LLC and claim the money through them even if there isn’t an “anonymous” option.
Most likely. But even a modicum of common sense would be better than what happens to oh, so many lottery winners who go on spending binges and develop lifestyle habits that lead to bankruptcy.
I don't typically play the lottery, but I will when the jackpot gets high enough. For me, the entertainment value of imagining what I'd do with that kind of money is worth the $1 or $2 I spend on the ticket. But I've also "game planned" how to take care of that kind of money, too. It really just boils down to "invest the bulk of it and live off the proceeds", though in my particular case, having two autistic children makes setting things up a little trickier in terms of inheritance, to ensure they're taken care of and not taken advantage of.
Of course, if push ever came to shove, I'm fortunate that I have a father-in-law who's a (retired) financial planner and on the other side of the family, a brother-in-law who's an accountant. So I won't have to search hard for specific advice I can trust.
Sadly the past track record of people who have lived her story generally includes bankruptcy within ten years.
That determination is a mind set based on who and what she considers herself to be.
She's young and strong and can easily see a couple of bucks a paycheck on the infinitesimal hope that ... just maybe ...
She's also not guilty so her ...um ... personal, inner self is (should be) satisfied.
If it was me ... I'd run right to church, get alone and quiet, beg God's forgiveness for everything I can think of/remember ... and sit quietly while HE works and prepares his sermon for me.
Ain't leavin' 'til I hear from ya, God.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.