Life after winning the lottery

Nov 9, 2012, 7:49 am (42 comments)

After the Big Win

LEESBURG, Ind. — Haven't we all dreamed about winning the lottery at least once? It happened to Roy and Barb Hamer of Leesburg, Indiana. They hit the jackpot — and it was BIG.

Barb says "we checked our ticket, my eyes went blank, he looked at it and said, 'oh, my god! they all match!'"

There was some initial confusion over how much money they won.

"We thought, we'd only won ten million. We thought we were poor millionaires," Barb Hamer said with a laugh.

But in fact, the Hamers won $41.5 million playing Powerball.

It's been 13 great years since that day in September 1999.

"We've stayed out of jail," they joked.

Barb also says that she and Roy have stayed together and still have the money, which amounted to $13 million after taxes.

"We didn't buy yachts. We bought a marina. Who needs a yacht when you have a marina?" said Barb.

When they bought the marina in Kosciusko County, they just sold gas. Now, it's a successful bar and restaurant that employs up to 60 people during the summer.

Her other big splurge is hard to miss.

"Roy bought me a really nice diamond. This is my toilet cleaning diamond. We bought a cigar store Indian. First thing we ever bought. We still have him," said Barb.

The Powerball game that made the Hamers millionaires has turned out more winners in Indiana than any other state.

There are plenty of games to choose from.

The top retailer in the state is the Silver Express store on West 10th Street. The store sells more than 50 different kinds of scratch-off games, and even draws in customers with extra chances for a spin to win.

So would winning millions send your life into a tailspin?

Are other winners as happy and content as the Hamers?

We wanted to know, so we decided to ask more than 100 Indiana lottery winners who became instant millionaires.

Every millionaire who responded to our exclusive Eyewitness News survey said yes — they'd do it all over if they had the chance to win again.

But three-quarters of them said their sudden windfall made their lives more difficult, not easier.

More money means more responsibility, from deciding how to invest the money to dealing with all of the taxes.

Most said the biggest challenge of all is dealing with people who think they have endless amounts of money.

In reality, if you win $1 million, after taxes your take home check is just over $700,000.

The Foote family of Vincennes became instant millionaires just last year. They won $2.6 million — it's money the family of seven really needed.

But it doesn't leave them living a life of luxury, said Dwight Foote who bought the winning ticket.

"A lot of people don't know the reality of the check every year. We don't have money just sitting around to spend left and right," he said.

Dwight won his money with a $5 Lucky for Life scratch-off ticket.

It's $1,000 every week for fifty years. His family gets one check a year. After taxes, it's just under $37,000 a year.

Certainly, nothing to snub your nose at, but Dwight — who works as a carpenter — says it's not "quit your job, and live out life on the beach" kind of cash.

"The reality is, we're still paying bills, not living the vast lifestyle. We take our vacations, we let the girls experience more of what's out there," he said.

The money has given the family a little cushion — they were able to take their first ever family vacation and now all five girls can play in sports.

It's made the Foote family happier.

But half of the millionaires who responded to our survey — said their happiness level is the same as before they won the money.

When we asked about their big purchases with their winnings — their answers surprised us. It wasn't big homes or fancy cars like many of us imagine. They bought normal, everyday things like — a riding lawnmower, a new air conditioner and a saving money for a child's college.

Another big surprise from our survey of millionaires is that most kept their jobs.

As for the Hamers, they say winning the lottery changed their lifestyle, but not who they are. That just happens to be happy, and now rich, people.

Top 5 Cities for Winning $1 Million or Larger Tickets

  • Indianapolis (44)
  • Fort Wayne (11)
  • Muncie (9)
  • Evansville (7)
  • Elkhart (6)

Top 10 Winningest Hoosier Lottery Games

  • Hoosier Lotto (88)
  • Powerball (49)
  • Game Show (35)
  • Two Million Cash (7)
  • Hoosier Millions (7)
  • Monthly Money (6)
  • Mega Millions (6)
  • $54,000,000 Extravaganza (6)
  • $2,000,000 Bonus Spectacular (6)
  • $100 MIL Cash Extravaganza (5)

Thanks to rdgrnr for the tip.

WTHR

Comments

mcginnin56

Yep, Indiana is the new hot spot for Mega-Millionaires. Wish I knew someone from that state, so I could get the inside scoop!    Unhappy     Hyper

jamella724

That was 13 years ago...but still they couldn't forget that day they when they found out they won Powerball jackpot.  So lucky, so happy and so nice to know that a couple became millionares.  $41.5 million was a very huge amount that time...

TheGameGrl's avatarTheGameGrl

Very wise for none of them to reveal any big splurges, Best to "appear" modest in their investments.

Enjoy the real life folks who maintain normalcy after the win.

PLeased to know their is goodness in winners !!

Original Bey's avatarOriginal Bey

Dumb luck brought you the win.

 

Smart decisions made it a happy 13 years

 

Congratulations on both!

Ronnie316

Quote: Originally posted by mcginnin56 on Nov 9, 2012

Yep, Indiana is the new hot spot for Mega-Millionaires. Wish I knew someone from that state, so I could get the inside scoop!    Unhappy     Hyper

I think I would skip the Marina and just buy the Yacht.

RedStang's avatarRedStang

Toilet cleaning diamond?? Must be a new as-seen-on-tv product.

Stack47

"The Foote family of Vincennes became instant millionaires just last year. They won $2.6 million"

And all their long lost relatives and friends probably showed up on their doorstep, but then found out it's only $37,000 a year for the next 50 years. They could some day be millionaires if they deposited their yearly check for the next 27 years and never withdrew a penny, but that's not likely. Using lottery math, any employer paying an average yearly wage of $50,000 can honestly say, they'll create several millionaires over the next 20 years.

Winners getting a lump sum prize of $1 million aren't "instant millionaires" either because about 30% will be deducted before they get their checks and probably will pay more in Federal taxes the following April.

The good news is, they'll have their picture taken holding a gigantic check, "Pay to the order of, $1 million" even if they really aren't millionaires.

helpmewin's avatarhelpmewin

Quote: Originally posted by jamella724 on Nov 9, 2012

That was 13 years ago...but still they couldn't forget that day they when they found out they won Powerball jackpot.  So lucky, so happy and so nice to know that a couple became millionares.  $41.5 million was a very huge amount that time...

yeah forsure,, It's been 13 great years since that day in September 1999,,

indiana can't find a Winner, Something more recent, anyways Congrats !to Barb & Roy Hamer. Dance

helpmewin's avatarhelpmewin

Quote: Originally posted by mcginnin56 on Nov 9, 2012

Yep, Indiana is the new hot spot for Mega-Millionaires. Wish I knew someone from that state, so I could get the inside scoop!    Unhappy     Hyper

Maybe i can give you a scoop,, buy your tickets any STATE other than indiana Thumbs Up

HaveABall's avatarHaveABall

Quote: Originally posted by Stack47 on Nov 9, 2012

"The Foote family of Vincennes became instant millionaires just last year. They won $2.6 million"

And all their long lost relatives and friends probably showed up on their doorstep, but then found out it's only $37,000 a year for the next 50 years. They could some day be millionaires if they deposited their yearly check for the next 27 years and never withdrew a penny, but that's not likely. Using lottery math, any employer paying an average yearly wage of $50,000 can honestly say, they'll create several millionaires over the next 20 years.

Winners getting a lump sum prize of $1 million aren't "instant millionaires" either because about 30% will be deducted before they get their checks and probably will pay more in Federal taxes the following April.

The good news is, they'll have their picture taken holding a gigantic check, "Pay to the order of, $1 million" even if they really aren't millionaires.

I Agree!, Stack47.  You truly understand the crucial difference between a person/household becoming a post-U.S.A. Fed, State, and County Income Taxed, net:  tens-of-thousandsaire, hundreds-of-thousandsaire, one-millionaire, multi-millionaire, and the BEST-case scenareo a NET $5M+ millionaire lottery gambler solo or household winner.

Kudos to these survey participants, it was great to receive their "winer's hindsite solo and household beliefs and conclusions."

Cool

Saylorgirl's avatarSaylorgirl

Quote: Originally posted by mcginnin56 on Nov 9, 2012

Yep, Indiana is the new hot spot for Mega-Millionaires. Wish I knew someone from that state, so I could get the inside scoop!    Unhappy     Hyper

I have lived in Indiana my entire life and I am still looking for the inside scoop!!  I will tell you when I find it!!

Ronnie316

Quote: Originally posted by Saylorgirl on Nov 9, 2012

I have lived in Indiana my entire life and I am still looking for the inside scoop!!  I will tell you when I find it!!

Perhaps you have the scoop and just dont know it..... Like peace of mind, no worries, so few bills.....  What?

HaveABall's avatarHaveABall

Quote: Originally posted by Saylorgirl on Nov 9, 2012

I have lived in Indiana my entire life and I am still looking for the inside scoop!!  I will tell you when I find it!!

Thanks, in advance, Saylorgirl.  LOL! Wink Crazy

Ronnie316

Quote: Originally posted by Stack47 on Nov 9, 2012

"The Foote family of Vincennes became instant millionaires just last year. They won $2.6 million"

And all their long lost relatives and friends probably showed up on their doorstep, but then found out it's only $37,000 a year for the next 50 years. They could some day be millionaires if they deposited their yearly check for the next 27 years and never withdrew a penny, but that's not likely. Using lottery math, any employer paying an average yearly wage of $50,000 can honestly say, they'll create several millionaires over the next 20 years.

Winners getting a lump sum prize of $1 million aren't "instant millionaires" either because about 30% will be deducted before they get their checks and probably will pay more in Federal taxes the following April.

The good news is, they'll have their picture taken holding a gigantic check, "Pay to the order of, $1 million" even if they really aren't millionaires.

Im glad to find out I'm a millionaire........ Perhaps I should be paying higher taxes....... What?

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