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19-year-old Massachusetts man hits lifetime lottery jackpot

Massachusetts LotteryMassachusetts Lottery: 19-year-old Massachusetts man hits lifetime lottery jackpot
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BRAINTREE, Mass. — What could be better than getting an Xbox or a new car for Christmas? For one 19-year-old Barre, Massachusetts, resident, the answer is a gift that will keep on giving.

Zachary Pearson became the ninth grand prize winner in the Massachusetts State Lottery's "$1,000 a Week for Life" instant game after he received lottery tickets for Christmas and used the winnings to purchase more, including the grand prize winner, according to the Massachusetts State Lottery.

The winning lottery ticket was purchased at Market Place on the Common, at 6 Moulton St. in Barre.

Pearson opted to receive his prize in payments of $1,000 a week for the rest of his life before tax withholdings rather than the $800,000 cash option. With a current life expectancy of more than 82 years for a male Pearson's age, according to a Social Security Administration calculator, he stands to reap around $3.3 million over his lifetime. There is a minimum 20-year guarantee on the prize.

According to the Massachusetts State Lottery, Pearson plans to use his winnings to pay for his college tuition and a new car.

There is still one more "$1,000 a Week for Life" grand prize left in the $2 instant game.

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17 comments. Last comment 3 days ago by dallascowboyfan.
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San Francisco, CA
United States
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May 12, 2015
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Posted: January 3, 2017, 9:49 pm - IP Logged

A minimum of 20 years paid out? In California, it's a MAXimum of 25 years.

 

His prize works out to $72,000 annually before taxes - Nice win Zach Pearson!

 

If my state had an unlimited number of years to collect a "life prize" I would probably opt for the lifetime payout.

    music*'s avatar - nw bookeep.jpg
    Happy California
    United States
    Member #157856
    August 2, 2014
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    Posted: January 3, 2017, 9:54 pm - IP Logged

    Congratulations Zachary E. Pearson!!!  You are now the most handsome man in your town.LOL

     Chi ha danari, trova cugini. (He who has money finds many cousins.) Italian proverb

      mypiemaster's avatar - 2015021003pileofcash
      JACKPOT HUNTER

      United States
      Member #141034
      April 2, 2013
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      Posted: January 3, 2017, 10:08 pm - IP Logged

      This is like having a middle class job{wage/salary}, without actually having to go to work, even for a second, in your life. Way to go, young fella. Thumbs Up If there was ever an ideal age in which to win the lottery, this is it.

      Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

      Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

        TheGameGrl's avatar - character catafly.jpg
        A long and winding road
        United States
        Member #17084
        June 10, 2005
        4576 Posts
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        Posted: January 3, 2017, 10:31 pm - IP Logged

        when did we add more weeks to the calendar year? Last I recall we had 52 weeks in a year- thus equating to 52 payments of 1k each week. = 52,000$ .

         

        None the less he is a winner and since each year the feds will get more over time, his weekly payout will go towards making someone great ...again...

        ~~Is it true, Is it kind,Is it necessary. ~~~

        pa:888,4445,6132,4444,8008

          zephbe's avatar - animal butterfly.jpg
          South Carolina
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          July 15, 2009
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          Posted: January 3, 2017, 11:47 pm - IP Logged

          Congrats to him and he was wise to take the annuity.

          Every champion was once a contender who refused to give up.-Rocky Balboa

          “Don’t let someone who gave up on their dreams talk you out of going after yours.” – Zig Ziglar

            Chris$'s avatar - Sphere animated2.gif
            P A
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            October 3, 2011
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            Posted: January 4, 2017, 12:16 am - IP Logged

            great to be that young and win a prize to last a lifetime.

            and yes it's only 52k a year not 72k.

            still not bad. I'd be happy!

            ♠♣♥♦= $$$$

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              Maryland
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              January 2, 2015
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              Posted: January 4, 2017, 5:28 am - IP Logged

              Guaranteed 20 year payout, hummmm... wonder if they will stop the payments at that point?

                hearsetrax's avatar - 0118

                United States
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                May 21, 2007
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                Posted: January 4, 2017, 6:28 am - IP Logged

                Congrats to him and he was wise to take the annuity.

                LOL you can say that again jejeje

                 

                I hope hes wise enough to set a side some of that money for a rainy day and further his education

                  Avatar
                  Florida
                  United States
                  Member #171219
                  January 3, 2016
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                  Posted: January 4, 2017, 10:28 am - IP Logged

                  What a great start to adult life for him. Even if he blows all his money one year, more will be there next!

                    cbr$'s avatar - maren
                    Cordova,Al.
                    United States
                    Member #104482
                    January 15, 2011
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                    Posted: January 4, 2017, 10:54 am - IP Logged
                    Congratulation to Zachary Pearson. He is smart to use some of the money for 
                    college tuition & new car.  Hurray!
                      Avatar
                      homestead
                      United States
                      Member #158182
                      August 14, 2014
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                      Posted: January 4, 2017, 3:28 pm - IP Logged

                      great to be that young and win a prize to last a lifetime.

                      and yes it's only 52k a year not 72k.

                      still not bad. I'd be happy!

                      Indeed. Better to take the $1K a week than the $800K lump sum payment that would have given him less money. I wish that we were all that lucky to get a $1K a week for life.

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                        Simpsonville
                        United States
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                        January 22, 2015
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                        Posted: January 5, 2017, 6:34 am - IP Logged

                        This time I'm an advocate for weekly payments.  I'm not sure how they pay this back home.  Some states pay out quarterly.  One idiot on Mass. lottery Facebook said his payments stop after twenty years.  Don't worry, this LP/MA lottery player set him straight.  Another one wrote that he'd get $34K/year.  Math isn't my forte so taking that post for face value, pardon the pun.

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                          USA
                          United States
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                          January 16, 2016
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                          Posted: January 5, 2017, 7:25 am - IP Logged

                          CONGRATULATIONS!!

                          Great Story I really hope he does what he says he's going to, That money won't last forever and he is very Young, hopfully he Makes some good Investments, Graduates College, Gets a Good Job and saves some for his retirement...

                          Good Luck & stay Safe Young ManDance

                           CAN'T Wait till a LP POSTER WINS BIG Party

                            aux8b's avatar - home

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                            January 19, 2008
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                            Posted: January 5, 2017, 7:54 pm - IP Logged

                                        Hurray!