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?

dallascowboyfan's avatardallascowboyfan

I believe the Foote family was on Lottery Changed My Life....

Ronnie316

Quote: Originally posted by HaveABall on Nov 9, 2012

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

I think the whole point that the lottery office is making is a somewhat convoluted yet valid point......

They had a million in assets even if it was for a brief imaginary moment......

Ronnie316

Quote: Originally posted by dallascowboyfan on Nov 9, 2012

I believe the Foote family was on Lottery Changed My Life....

I'm sure it made for a fine show too..... I hope they got paid for their appearances....

helpmewin's avatarhelpmewin

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!!

i'm sorry Crying

sully16's avatarsully16

Sounds like they are happy.

mcginnin56

Quote: Originally posted by helpmewin on Nov 9, 2012

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

I'm assuming you are a proud citizen of the great state of Indiana? Patriot

Thanks for for that generous scoop helpmewin!


I will take your advice, and buy from CA and NY for now on.  Type

 

helpmewin's avatarhelpmewin

Quote: Originally posted by mcginnin56 on Nov 9, 2012

I'm assuming you are a proud citizen of the great state of Indiana? Patriot

Thanks for for that generous scoop helpmewin!


I will take your advice, and buy from CA and NY for now on.  Type

 

i've pop in & out a time or 2 Big Grin Santa...

mcginnin56

Quote: Originally posted by helpmewin on Nov 9, 2012

i've pop in & out a time or 2 Big Grin Santa...

That's good enough for me!  Coffee

Saylorgirl's avatarSaylorgirl

Quote: Originally posted by mcginnin56 on Nov 9, 2012

I'm assuming you are a proud citizen of the great state of Indiana? Patriot

Thanks for for that generous scoop helpmewin!


I will take your advice, and buy from CA and NY for now on.  Type

 

I am a citizen of Indiana and I have the birth certificate to prove it!!  "Proud" and "great" are subjective and can change from time to time.

mcginnin56

Quote: Originally posted by Saylorgirl on Nov 10, 2012

I am a citizen of Indiana and I have the birth certificate to prove it!!  "Proud" and "great" are subjective and can change from time to time.

I believe you Saylorgirl!

But just for my peace of mind, could you please PM me your birth certificate. 

LP should be extremely proud to have such a great member in their ranks!!   Hyper

Piaceri

Sounds like they've done everything right, in particular buying the marina rather than the yacht. If they were a younger couple at the time of winning, it only makes sense to make the investment in something that will not only keep them busy until retirement time, but also give back to the community in the form of jobs. If they had children still at home, double bonus in teaching them hard work and pride in ownership rather than sitting on their butts with video games and toys. Hearty congratulatons to the Hamers for doing a lottery win right!

Party

Also sounds like the Footes are well grounded with their win that allowed them a few extras with their large family. Big families are not easy to support these days. A 'smaller' win like that still brings out the gimmies, and IMO makes it harder for the winner to enjoy. They've found their balance, and continue to enjoy their winnings. Good for them!

Here's to smart, sane winners! May one of us be there soon! White Bounce

helpmewin's avatarhelpmewin

Quote: Originally posted by mcginnin56 on Nov 10, 2012

I believe you Saylorgirl!

But just for my peace of mind, could you please PM me your birth certificate. 

LP should be extremely proud to have such a great member in their ranks!!   Hyper

  would a water bill or elect bill be sufficient? Conehead

mcginnin56

Quote: Originally posted by helpmewin on Nov 10, 2012

  would a water bill or elect bill be sufficient? Conehead

   Roll Eyes   Hmmmm...........maybe an empty beer bottle from one of your 7-11 stores would suffice.  Big Grin Santa

OldSchoolPa's avatarOldSchoolPa

Quote: Originally posted by Ronnie316 on Nov 9, 2012

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

I actually think they made the smart, right decision to purchase a potential money making marina rather than a money draining yacht. The only way you can make a yacht a money maker is to open up a diving/fishing outfit, but to just own a yacht for personal use is a money drain.  I would much rather own something that has the potential to make me more money and rent my fun (i.e. jet ski, snowmobile, yacht, etc.).  Keep that in mind and they are living proof that that line of thinking is what has allowed them to remain millionaires and avoid showing up on TLC's "Curse of the Lottery".  Most of those who appeared on that show just blew their money on stuff, or in other words, they bought their fun and rented their future.  I would much rather buy my future by investing in potential money making opportunities and rent my fun.

Ronnie316

Im not sure how $41.5 million "amounted to $13 million after taxes" ????? But even with 13 million a wise money management strategy would do away with the need for "making money"

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