And the winners are ... Brian Schultz of Oak Creek and his two sons, Todd and Matthew.
- Home
- Premium Memberships
- Lottery Results
- Forums
- Predictions
- Lottery Post Videos
- News
- Search Drawings
- Search Lottery Post
- Lottery Systems
- Lottery Charts
- Lottery Wheels
- Worldwide Jackpots
- Quick Picks
- On This Day in History
- Blogs
- Online Games
- Premium Features
- Contact Us
- Whitelist Lottery Post
- Rules
- Lottery Book Store
- Lottery Post Gift Shop
The time is now 5:27 pm
You last visited
April 19, 2024, 3:49 pm
All times shown are
Eastern Time (GMT-5:00)
Wisconsin Megabucks lottery winners come forward
Jan 26, 2006, 7:24 am (7 comments)
Congrats to the winners and I guess beer goes hand in hand with a winning lottery ticket. Now he can really celebrate with a couple of cold ones.
Has anyone figured out, how much money, in interest and potential spending capital, they lost between Christmas and the date they claimed the winning? Everyone spends their life complaining about the government and taxes, then when they win, they have no problem with the government keeping weeks or months of interest on millions of dollars. You might as well build a catapult, and throw thusand dollar bills are Washington and your state capital when you wait.
@Chewie:
While I understand your overall point let me say that if I am ever fortunate enough to win a major lotto prize...and I consider $11.1 million a major prize...I will have no problem allowing my attorney, my tax advisor and my financial consultant the time needed to make all the necessary arrangements and deal with all the legal ramifications of securing the money for my future. I will also take whatever time needed to refine and impliment my exit, press and security strategies.
One thing I will not do is charge right down to lottery headquarters...sign whatever they tell me to sign...get my picture taken with that stupid big check...stand up in fornt of the press and grin like a Chesire Cat and then go down to my local bank and deposit my winnings into my saving account so I can immediately begin earning interest and then go home and try to figure out where I'm going to invest it and how I'm going to deal with the myriad of people and issues most lottery winners have to deal with.
I have a very general plan in place. But I'm confident that it will take more than a few days and probably a couple of weeks to impliment it. I would gladly trade that short period of time for a lifetime of security.
Jim
Congrats to family!
Jackpot claims take six weeks to be processed anyways so its not like you can get the cash in the first day. As Uncle Jim suggested and its often emphasized on this forum. Get a tax attorney, financial advisor lined up prior to having to go public. Most lottery commissions*strongly* advise such.
Heres some food to ponder, for all the weeks that the jackpot is increasing, the lottery is gaining interest and a ticket holder isnt granted the right to ask for the *interest* if they do HIT the big one. Figure that one out ...
Congrats to the winners!
gotta agree with gamefrl here. they only took 30 days to claim, and they are going to be on the plus end of income interest and spending capital after they get it.......
I wonder how much income interest I'm losing between now and the day I hit the big one?
We have entirely viewpoint on life.
In NJ, they keep the money for 30-days after you make your claim. I've won a couple of times myself, and had to wait. To me, that 30 days is plenty of time to make plans. The actual date of claiming the money has zero to do with the tax man in NJ; that is an entirely different process. The state of NJ will take the tax money the federal government requires (25% if you have an SSAN). Then they disappear. You can be indecisive for 6 minutes or 11 months and 29 days, it has no impact on the initial 25% deducted because of the federal law. Don't confuse the lottery part of the process with the tax part of the process. Once again, they have zero to do with each other; it is a mixture of the proverbial apples and oranges. The ONLY impact when you wait to claim your prise is the loss of profit on the money you would have made, had you been a decisive person. The state of NJ would love it if you waited 11 months and 29 days and consulted every lawyer, account, and tax expert before you claimed the money. They are making profit on the storage of that money. It is theirs, until legally claimed.
What you do with the winnings between the initial transfer and tax time is what requires a decision; again, in the state of NJ, the state couldn't care less about the tax process. Personally, I have already made 99% of the decisions on how I want the money dispursed. I have spoent extensive time utilizing the internet for that purpose. The lawyer, account, and tax adviser will confirm my ideas or provide alternates. That shouldn't take more then a week or two. Well within the timeline between claiming the money, receiving the money, and having to file a tax form. All the while, I am making money on the money I won. The alternate plan, your plan, hide in the background and loose, possibly, thousands a week. Because I couldn't preplan? Not gonna happen! In my mind, a loss is a loss, no matter how it is justified.
Talking to the press? Out of the question. This is America, no one can make you speak words. We have a contitution! They can take your picture; you can make that a horrible picture if you have balls. Walk around with your screw-you finger stuck to the middle of you forhead. They want to put that on the web, more power to them. Attempt to make me answer questions; trust me, they don't want that option. I spent 20 years in the Army. I know all the usages of foul language. Multimillion dollar winner, and be afraid to upset a NJ Lottery Director? Heheheheh! Publish my address? I have moved several times, I am a qualified expert on moving. Just leave. Nothing in my house I have to return for - except my dog! Deal with scroungers? A simple plan. Do what other rich people do, have security eliminate the problem. I would imagine, with a multimillion dollar win, I could afford 30 or 40 rent-a-cops at minimum wage to ensure no unwanted begger gets near me. "The spotlight only shines when you smile." With millions, I couldn't care who likes my attitude. I already have all the friends I need when I am broke, I don't have any use for the ones who appear around the people with money.
Bottom line. Think TODAY about what you are going to do, Write it down so you don't become confused when you win. Implement your plan immediately. Get the money, hire the right people, and make the decisions that conform to your attitude and beliefs. Don't do anything based on others happiness or opinions. Lastly, remember, no one ever stopped you on the street and gave you money; do onto others as they have done onto you. Which is, do nothing for them!