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Melville Costco Lotto Winner to Appear on 'The Suze Orman Show'

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Cindy Magnes, one of the 20 Melville Costco employees who won a $203 million Powerball jackpot in June, is scheduled to appear in this Saturday's episode of "The Suze Orman Show" on CNBC.

The lotto winner will speak to the the financial adviser television host about pressures of making proper investment choices after winning the lottery this past June. 

Magnes, a Wantagh resident and single mother of four, ended up with $3.15 million after the employees opted for the lump sum payout.

In the months after receiving a $3.15 million windfall after taxes, Magnes became anxious and overwhelmed about making the right choices with her money and she decided to contact "The Suze Orman Show to find out how to invest the winnings wisely", according to a CNBC spokeswoman. 

On Saturday's show, which is scheduled to air at 9 p.m. with a repeat at midnight, Orman and Magnes will discuss the best ways to secure her family's future with her lottery winnings. To view a preview of the show, click here

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Comments

1.
Comment by Starr920 - September 30, 2011, 3:53 am
Smart lady to seek out professional financial assistance from someone with the right connections.
2.
CARBOBComment by CARBOB - September 30, 2011, 6:31 am
You are 150% correct. They all should follow her steps!!!
3.
Comment by Starr920 - September 30, 2011, 7:27 am
Wish I was able to show the preview video but if you click on the last word in the article and look down the page on the left you can watch it. Suze Orman ask Ms. Magnes if, in some ways, she was happier before she won the money. Her answer is yes. I imagine that's because she so anxious about how to invest the money. I really want to watch this on Saturday.
4.
Comment by Starr920 - October 2, 2011, 4:59 pm
So I actually watched this episode of SO and I must say Ms. Magnes was a delight! After taxes, her lottery win turn was about $1.5 million. The first advice SO gave her was to pay off all outstanding debts. Duh!   The largest and most interesting debt immediately Ms. Magnes paid was the mortgage on her home (result of her divorce settlement) - valued at approximately $500,000 - mortgage payment approximately $250,000. Ms. Magnes was completely overjoyed to be able to pay off this debt (as a result of her lottery win of course) - stated she danced around her now debt free home to celebrate her good fortune. However shortly after that, her anxiety about the lottery $$$ returned.   SO advised her to get in touch with the person who handles her $$$ and assure her contact person would help her invest her $$$ wisely. SO also advise her that, once she was became more secure about her windfall, she should use this time to find her real "passion" in life - that's where she would find her real joy!!! Very good segment - really enjoy SO advice to Ms. Magnes.
5.
Comment by Starr920 - October 2, 2011, 5:00 pm
So I actually watched this episode of SO and I must say Ms. Magnes was a delight! After taxes, her lottery win turn was about $1.5 million. The first advice SO gave her was to pay off all outstanding debts. Duh!   The largest and most interesting debt immediately Ms. Magnes paid was the mortgage on her home (result of her divorce settlement) - valued at approximately $500,000 - mortgage payment approximately $250,000. Ms. Magnes was completely overjoyed to be able to pay off this debt (as a result of her lottery win of course) - stated she danced around her now debt free home to celebrate her good fortune. However shortly after that, her anxiety about the lottery $$$ returned.   SO advised her to get in touch with the person who handles her $$$ and assure her contact person would help her invest her $$$ wisely. SO also advise her that, once she was became more secure about her windfall, she should use this time to find her real "passion" in life - that's where she would find her real joy!!! Very good segment - really enjoy SO advice to Ms. Magnes.

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