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Woman prepares for 9 months before claiming $8.8M lottery jackpot

Topic closed. 22 replies. Last post 10 years ago by Stack47.

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lottocalgal's avatar - Lottery-043.jpg
United States
Member #57222
December 23, 2007
587 Posts
Posted: August 24, 2008, 10:01 am - IP Logged

what does LMFAO mean"?Coffee

Laughing my f***ing a** off.

    Oak Creek WI
    United States
    Member #5403
    July 3, 2004
    44 Posts
    Posted: August 24, 2008, 10:13 am - IP Logged

    Laughing my fat A$$ Off.    If I'm wrong computer whiz's correct me.


      mken32's avatar - Lottery-062.jpg
      I dont know where
      United States
      Member #1702
      June 18, 2003
      103 Posts
      Posted: August 24, 2008, 1:48 pm - IP Logged

      maybe 3 to 4 days at the most... I know the money will be sitting in a account and making $$$$ until I decide what to to do next aleast for 6 months or a year ..... Wow NINE months WOW.....

      Party Like a RockStar

        grengrad's avatar - nw rogue.jpg
        United States
        Member #49057
        January 17, 2007
        172 Posts
        Posted: August 27, 2008, 1:29 pm - IP Logged

        Waiting nine months for only $3.8M is not a sound decision.

        It might taken some time to put together good investment plans to diversify something like $100,000,000, but $3.8M is not that much money from an investment standpoint, and any advisor worth their fee would have had her cashing in in no more than 3 months so she could at least start collecting some return on her money.

        If she was afraid that she might foolishly spend the money, she could have taken the money and locked most of it down in a short term CD. They are not the best investment tool, but even a CD would have made her about $100,000 in that time frame.

          ThatScaryChick's avatar - pI8lWzJ

          United States
          Member #56506
          November 21, 2007
          6624 Posts
          Posted: August 28, 2008, 12:42 am - IP Logged

          The woman is foolish, I wouldn't wait 9 months to claim a winning ticket! I don't like the neighborhood I live in so I'd want to go the lottery corporation as fast as I could, and then happily move away!

          Hurray!Group Hug

          I don't see how she is foolish. She waited until she was ready to collect the money. Each person is different.

          "No one remembers the person who almost climbed the mountain, only the person who eventually gets to the top."

            a$VeryLuckyMan's avatar - spherewall
            Summerfield NC
            United States
            Member #61736
            June 2, 2008
            3714 Posts
            Posted: August 28, 2008, 6:12 pm - IP Logged

            Nine months??? Prudent is one thing, but this is absurd. Think of all the things that could've happened to that ticket or even her in that time. And like somebody said, how much in dividends has she lost already by not investing it? It sounds to me like they don't really need the money. It's just added security.

            I've been dreaming about winning for so long I have the whole thing mapped out, down to what I'm naming the Trust and where I'll invest. And believe me, it won't take me 9 months to get that gravy train rolling. Puh-lease!

            What an idiot, just think of all of the intrest she lost by waiting that long!!!! Her advisors need to be FIRED!!

            Be ready when opportunity comes...Luck is the time when preparation and opportunity meet.

            All of us have bad luck and good luck. The man who persists through the bad luck - who keeps right on going - is the man who is there when the good luck comes - and is ready to receive it.Lep


              JackpotWanna's avatar - squiz

              United States
              Member #4121
              March 23, 2004
              817 Posts
              Posted: August 28, 2008, 6:54 pm - IP Logged

              Very smart woman.  I would wait too but not 9 months.  Maybe 3-6 months.

              1) Give away my stuff.

              2) Time to plan without rush.

              3) Tell friends and family that I am moving back to my country.

              4) Look for place to stay because once you claim a jackpot, It is impossibe to go back to same house.

                United States
                Member #32652
                February 14, 2006
                7722 Posts
                Posted: August 29, 2008, 10:47 pm - IP Logged

                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.