| Posted: August 29, 2008, 10:47 pm - IP Logged |
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I am not a math wizard...but I would like to know what amount of money was lost in interest over the 9 months...I mean the interest on 4 million over 9 months would have been a couple hundred thousand right? If you are truly prudent,you do not let that kind of money run through your hands..Not to mention that if you are truly prudent ,generally you do not spend money on lottery to begin with...My fears would have also been with the disappearance of the ticket,rather intentional,accidental or whatever....fires,floods they happen.
Had she formed a limited partnership or an exotic trust fund and waited that long to cash her ticket it would make more sense. I can't see what she gained by waiting 9 months because she got exactly the same amount after tax deductions ($3,801,297) she would have got had she cashed the ticket last January or November.
"We're very careful people," Hagerbrant, a retired nurse, said. "We wanted to take more time, as a family, to figure it all out."
It's obvious they lost thousands of dollars in interest by being very careful and very inconsistent when "Hagerbrant said she and her family plan to invest the money wisely" and "We're being prudent". She won in November and her lawyer probably said to wait until 2008 to cash the ticket to get more time. Maybe she thought she would get interest on the winnings while she waited or the tax withholding would be less, but finally cashed the ticket when somebody explained to her how much money she lost by trying to "figure it all out" instead of simply calling the lottery headquarters.
