Posted on 01/12/2018 2:43:12 PM PST by SMGFan
A 20-year-old Florida man claimed the $451 million Mega Millions jackpot on Friday, choosing to get $282 million at once instead of more in annual installments.
A Florida Lottery news release said Friday that 20-year-old Shane Missler, of Port Richey, had claimed the jackpot from the multistate game's Jan. 5 drawing. They say he chose to receive his winnings in a one-time, lump-sum payment of $281,874,999.
"I'm only 20, but I hope to use it to pursue a variety of passions, help my family and do some good for humanity," he said in a statement.
(Excerpt) Read more at msn.com ...
That would be my choice also.
Yup.
What would you do if you won the lottery. This guy knows but not the answer the reporter was looking for. Too funny.
You’d have to do financial analysis before deciding. You might be better off taking the payments (as long as they don’t end when you die). Also, is the entity making the payments sufficiently solvent to pay you reliably over the years?
With payments, you’d be less likely to blow it on women, booze, houses, and cars.
oops, I only searched “lottery” and “florida” without reading.
The only chance I had at winning s241 million and u didn’t play. To
Nah, some con man would just convince him to sell the annuity.
Good point.
Especially when he's only 20 to start with. But I've heard that if you die the payments are not transferrable to a beneficiary (not sure if that's true).
“and do some good for humanity,”
I’m changing my name to “humanity”.
What are you talking about! That is exactly what you do with it. Well, with a bunch of it anyhow.
And you've just become the most suave man with the ladies in Florida...
Three years from now he is on food stamps and living out of his parent’s basement....
And probably owing some $20 million or so.
Sudden wealth actually causes a person to overspend by a considerable margin.
Local Maine news is already reporting that he is originally from Livermore Falls Maine.
The last big winner gave a large amount of money to renovate her communities high school. That school is a town that is quickly contracting and should have been closed and merged with neighboring towns. And result is that locals are paying to maintain an unnecessay school building.
Hopefully this kid is smarter than her. We know he has already made sure in lives in state tax free
Florida.
At age 20, he should have spread it out over 45 years. Age 65 will be there before he knows it. By taking it all at once, he’ll be broke in ten years.
Take the cash. Put 45% in tax exempt government bonds. 35% in a super cheap S&P 500 index fund, 10% in a super cheap global stock index fund, 5% in gold bullion and 5% in cash (or near equivalent). Set the dividends to reinvest and live on the cash. Maybe take an expensive vacation for six months to some place exotic (and remote).
That’s my long lost twin brother...
A nice sentiment.
"If there is one thing I have learned thus far in my short time on this earth it is that those who maintain a positive mindset and stay true to themselves get rewarded," Missler said in the statement.
Said with all the accumulated life wisdom of a VERY lucky 20 year old.
"I intend to take care of my family, have some fun along the way and cement a path for financial success so that I can leave a legacy far into the future."
I hope it works out that way for him.
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