I would go forward immediately. I wouldn’t be able to sleep if I kept that under my mattress or even in a bank vault.
It is interesting how there are always the stories about how to hire attorneys and manage the process better to maintain your privacy (if allowable)....but where to actually keep the ticket safe I never really thought through....
With a billion dollar ticket anyone would kill for that! Scary to hold on to it for that long.
I always thought it was false advertising. The winner of a $1.35 billion dollar prize collects $723 million BEFORE taxes. So what is actually paid in? Is the entire sum amount of the tickets bought since the last winner $1.35 billion or is it even more and the prize is just $1.35 billion? Even if it is $1.35 billion, immediately $627 million goes to the lottery because they almost always choose the lump sum (for good reason). Then what percent of the $723 million goes to taxes? 37% to federal and Massachusetts is another 5%. So about $304 million goes to taxes.With a billion dollar ticket anyone would kill for that! Scary to hold on to it for that long.
Just this weekend I thought how cool would it be to be a winner of a half a billion, call THON, and say I will match what ever they raise!
But I am far too dangerous to give that kind of money. ‘They’ would never allow me to have that kind of power.😵💫
Edit: forgot link in OP…….
$1.35 billion lottery winner in Maine comes forward to collect prize money
According to the Maine Lottery Association, the winner chose the cash option of a one-time, lump sum payment of $723,564,144 before taxes.www.nbc15.com
www.tmz.com
similar story in PA a guy from Burgettstown (I think) won at the time the biggest jack pot like 8 million or something like that and he was in commercials and all that, made a big deal in press. But a couple years later no merchant, bar, restaurant etc in town would even let him in as he had over spent what he had and would write bad checks and credit cards.The NY State Lottery winner gone bust was Curtis SHARP.... great story and pic of he, his wife and his girlfriend at the Press Conference
Curtis Sharp, 1982 lottery winner, on losing it all
Curtis Sharp Jr. won approximately $5 million in 1982. He became famous after the win as much as for the prize as for his larger-than-life personality.www.fox5atlanta.com
yep I used to work with a guy who played 10 years in NFL, played in at least 1 Super Bowl and was broke 3 years out of league. By his own account made a bunch of stupid investments and "got into businesses I knew nothing about". including least one restaurant and hotel. He said lot of players get into restaurants and lose big. he had the wherewithal to get advanced degree and had a decent, middle/upper middle class career, until the CTE kicked in.
You also have to learn how to shed the entourage. Hangers-on can drain that quickly.
The restaurant biz is really tuff. Lots of turnover, weather dependent. Trendy. Inventory control issues. Image and branding. Competiton can quickly move in stealing employees and customers. And it is an easy target for scam artists rpiping off the owners. Throw in a totally inexperienced and trained owner and you get problems.
The parents of a friend I grew up with (they lived across the street from us) won $1m on a scratch off ticket maybe 10-15 years ago. Didn't seem to change them. The dad was the one who bought the ticket and he only lived another couple of years and was in pretty bad health. They did buy a new house that was much nicer than their half a double but $1m before taxes isn't really all that much. They still pretty much lived their same lives.
But debt free with peace of mind. A couple million would be great. The big ones seem to be the destructive ones.
I guess I'll just keep chugging along then....why get rich!?????
Rich is a state of mind. I feel very rich because I have a great family and some good friends. No amount of money or anything else could make me happier.
I think that's a huge part of surviving with that kind of money. Not that I'll ever know. You have to know that every family member and "friend" will be there asking for a piece. Not to mention every charity and organization beating down your door. If you're not careful, you'll go from rich to broke in no time at all.
Cousin won a medium size lottery in Ohio. Took the money and bought an AC/heater truck and fully equipped it for the business. Started the new business and is now a hard working millionaire. This is what success is.
