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N.J. store clerk buys old workplace after lottery win

Topic closed. 21 replies. Last post 1 month ago by Raven62.

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ressuccess's avatar - Lottery-043.jpg

United States
Member #93164
June 23, 2010
1322 Posts
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Posted: October 29, 2016, 5:29 pm - IP Logged

Congratulations to this man. I didn't know that this was the largest prize ever for the match 5 numbers only.

I hope that one $2 ticket is the only one that matches all 5 numbers plus the Powerball to win the largest Powerball Jackpot in United States history of over $2 Billion Dollars!

    sully16's avatar - sharan
    Ringleader
    Michigan
    United States
    Member #81740
    October 28, 2009
    40421 Posts
    Online
    Posted: October 30, 2016, 6:54 am - IP Logged

    Congrats Jorge, good luck.

    Did you exchange a walk on part in the war ?

    For a lead role in a cage?

     

                                                From Pink Floyd's " Wish you were here"

      Avatar
      NY
      United States
      Member #23835
      October 16, 2005
      3474 Posts
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      Posted: October 31, 2016, 12:45 am - IP Logged

      "win the lottery and buy the store you work at? why?"

      Because unless he's already fairly old and/or already has a lot set aside he didn't win nearly enough to retire? After taxes he might have netted 700k, and in an investment where his principal is really safe he'd be lucky to earn a modest fraction of a decent income. He needed to invest in something, and he still needs a job.

        music*'s avatar - nw bookeep.jpg
        Happy California
        United States
        Member #157856
        August 2, 2014
        1513 Posts
        Online
        Posted: October 31, 2016, 3:32 pm - IP Logged

        "win the lottery and buy the store you work at? why?"

        Because unless he's already fairly old and/or already has a lot set aside he didn't win nearly enough to retire? After taxes he might have netted 700k, and in an investment where his principal is really safe he'd be lucky to earn a modest fraction of a decent income. He needed to invest in something, and he still needs a job.

        I Agree!  Excellent reasoning.

        Personally I plan to use CDARS, ICS, and Jumbo CDs.  CDARS stands for Certificate of Deposit Account Registry Service. I can safely invest up to $50 million in about 200 banks.

        ICS stands for Insured Cash Sweeps. This will insure your savings and checking accounts. You can go to www.cdars.com and ICS will be at the bottom of the opening page. 

         Jumbo CDs are available in nonCDARS banks. Double check that for me, thanks. I do not want to possibly lose my investments in a CDARS bank when I already have the FDIC coverage for the CDARS account. ICS may not cover the same bank for both a CDARS account and a Jumbo CD account.

         Oh what wonderful problems we will have as a Large jackpot winner.  Bring it on!Cheers

         I've been rich and I've been poor. Believe me, rich is better. 

         Attributed to Joe E. Lewis and others

          Skibunnylk's avatar - Lottery-059.jpg

          United States
          Member #157701
          July 28, 2014
          137 Posts
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          Posted: October 31, 2016, 5:39 pm - IP Logged

          Tough choice he was face with. Invest in the stock market and possibly get burned or get CD's and earn about $7k per year.

          Age and the return on investment as well as the amount of risk he was willing to take plays an important role in choosing what was best for him.

          Never attempt to maintain a lifestyle you can't afford.

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            Simpsonville
            United States
            Member #163189
            January 22, 2015
            669 Posts
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            Posted: October 31, 2016, 7:25 pm - IP Logged

            How old is Jorge?

              Raven62's avatar - binary
              New Jersey
              United States
              Member #17843
              June 28, 2005
              49709 Posts
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              Posted: November 1, 2016, 9:44 am - IP Logged

              A Success Symbol for Lottery Players Everywhere!

              A mind once stretched by a new idea never returns to its original dimensions!