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Single Michigan mom, 24, with two jobs wins $66 MILLION lottery
NY Daily News ^ | 7/31/14 | Sasha Goldstein

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 ...


TOPICS: Culture/Society; News/Current Events; US: Michigan
KEYWORDS: gambling; michigan; rich
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To: SoFloFreeper

Just to settle any arguments on which states winners can stay anonymous, here it is from straight from the horses’ mouth,

“CAN I REMAIN ANONYMOUS WHEN I HIT THE JACKPOT?

All but five states (DE, KS, MD, ND, OH) have laws that require the lottery to release the name and city of residence to anyone who asks. Some states are considering anonymous claims.”

http://www.powerball.com/pb_contact.asp

Mega Millions has no such list but a good chart on which states tax winners and how much;

http://www.usamega.com/mega-millions-faq.htm


81 posted on 08/01/2014 6:40:00 AM PDT by Hillarys Gate Cult (Liberals make unrealistic demands on reality and reality doesn't oblige them.)
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To: SoFloFreeper

I think she will be broke soon

From the article:

She works two jobs but her boyfriend has been unemployed for a year.

Shes dreaming of vacations and sports cars.

She has spent $10,000 on lottery tickets


82 posted on 08/01/2014 6:42:29 AM PDT by logitech (It is time.)
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To: George from New England

Will she turn in her EBT card too?

She had two jobs....if she still needed an EBT card after working two jobs well perhaps something is wrong in America.


83 posted on 08/01/2014 6:43:59 AM PDT by napscoordinator (I guarantee every FRiend Misses the lost opportunity of a President Santorum!)
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To: SoFloFreeper

"What you mean she only has two jobs?"

84 posted on 08/01/2014 6:44:56 AM PDT by dfwgator
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To: Politicalkiddo

anyone who is working two jobs supporting children knows the value of a dollar.


85 posted on 08/01/2014 6:47:05 AM PDT by Chickensoup (Leftist totalitarian fascism is on the move.)
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To: Mom MD
I guess Im the only one who wonders why a single mom with 2 jobs is blowing money on the lottery?

Her money, not yours. She gets to spend it as she chooses.

86 posted on 08/01/2014 6:51:18 AM PDT by Balding_Eagle (If America falls, darkness will cover the earth for a thousand years.)
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To: Cletus.D.Yokel

Check!


87 posted on 08/01/2014 6:56:06 AM PDT by j.argese (Not anymore!)
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To: Mathews

“It’s a law in Michigan. All Lottery winners have to be publicly identified. Don’t know why.”

To make sure a real physical person with a name actually won it, not some phantom democrat voter. I would guess.

Makes one wonder about some of the supposed winners in the anonymous states.


88 posted on 08/01/2014 7:08:55 AM PDT by PLMerite (Shut the Beyotch Down! Burn, baby, burn!)
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To: Balding_Eagle

If it’s her money (which may be questionable) true. She can spend it how she wants. I don’t see celebrating that as a wise way to spend dollars you do t have. From further up the thread she has already spent 10k playing the lottery. Good on her for winning but foolish and wasteful none the less


89 posted on 08/01/2014 7:32:16 AM PDT by Mom MD
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To: PLMerite

Had some friends who won a fair amount they actually had to move out of state to rid themselves of the requests for money and ppl actually coming to their home for handouts. Their mail came in a large box everyday. So I am for anonymity.


90 posted on 08/01/2014 7:36:42 AM PDT by DocJhn
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To: George from New England

She’s so young. Should be taking it over 20 years or whatever to maximize the return.

<><><

Bad advice.

1) if she dies, the money is not in her estate if she takes the annuity.

2) An individual properly managing that money will do better than the government hacks investing that money for her


91 posted on 08/01/2014 8:22:51 AM PDT by dmz
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To: dmz

I now see it the freeper way. I just thought the taxes spread out over 20 years rather than in one year would outweigh the lump sump path. Or are the taxes all paid this year, not in each of the 20 years she takes her yearly allotment. Didn’t winnings used to pay out with taxes paid in the year the money was dispersed? Or am I thinking of something else.


92 posted on 08/01/2014 8:44:52 AM PDT by George from New England (escaped CT in 2006, now living north of Tampa)
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To: Durus
See my 37. People have been creating LLCs and Trusts to collect winnings for years. Look up past winners of megabucks or powerball, and you will see that a good portion of them do not have anything other than the name of the trust/LLC and if there is a picture it’s of the lawyer/agent collecting the symbolic check.

That would be what Hubby and I would do. But, most people don't understand delayed gratification and are in such a rush to collect, they run right out to claim their winnings without thinking of the consequences or putting any long-term plans in place. First thing we would do is stick the ticket in the safety deposit box, then start setting up a professional advising team. Wouldn't even tell the kids it had happened. I'd still be going to work every day.

93 posted on 08/01/2014 8:49:57 AM PDT by Hoffer Rand (Bear His image. Bring His message. Be the Church.)
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To: Hoffer Rand
Same here. Keep up a normal routine and tell no one until the investors/lawyers/investors/security are all determined and the money is in the bank/invested and even then only tell those that absolutely need to know. A lot of people have no idea the target one becomes when wealthy.

94 posted on 08/01/2014 9:13:51 AM PDT by Durus (You can avoid reality, but you cannot avoid the consequences of avoiding reality. Ayn Rand)
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To: kevkrom

While your advice about this young woman is right, it wouldn’t be right for me. I have sufficient income to get me and immediate family through life. I’d pretty much give away most of the wind fall and have fun doing it, some, I would blow on small luxuries and maybe set aside a small percentage. Managing huge investments is not my idea of fun. It’s enough managing those I already have.

Plus the fact that I’m 69 years old.


95 posted on 08/01/2014 9:28:25 AM PDT by Graybeard58 ( A feast is made for laughter, and wine maketh merry: but money answereth all things. Eccl 10,v 19)
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To: SoFloFreeper
Second, I think it is ABSURD that the prize of $66M is reduced, due to government's greed, to $27M.

That was the cash option, after taxes IIUC. The $66M would be paid out as an annuity over a long time period, 20-25 years probably. Each year's payout would be taxed in that case. That would be $2.64 million a year over 25 years. If she's smart the first thing she'll do is buy several well located and well managed apartment buildings; even if she blows all the rest she'll always have a place to move into and an income.

96 posted on 08/01/2014 10:11:07 AM PDT by JimRed (Excise the cancer before it kills us; feed & water the Tree of Liberty! TERM LIMITS NOW & FOREVER!)
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