Charlie Lagarde was celebrating her ascent into adulthood.
On her 18th birthday earlier this month, the Canadian teenager bought a bottle of sparkling wine and a $4 scratch lottery ticket at a nearby convenience store in Quebec — and, just like that, her future was off to a very nice start.
Loto-Québec officials said in a statement that after buying her first lottery ticket, Lagarde won the grand prize March 14 in the Gagnant à vie (Winner for life) game.
Her first major decision as an adult? The 18-year-old had to decide whether she wanted the $1 million lump sum (US$773,800) or $1,000 per week (US$773.80) for the rest of her life.
Lagarde waited a couple weeks to make up her mind, consulting a financial adviser and considering her options. Then she decided that, based on her age, she would accept the tax-free lifetime annuity, according to local reports.
An official with the lottery corporation said it's the equivalent of a $100,000 annual salary before taxes.
The teen said she intends to invest in her education as well as do some traveling — one of her passions.
"I want to study photography. One of my dreams would be to work for National Geographic," she said, according to the statement from lottery officials.
Lagarde bought the lottery ticket at a Couche-Tard convenience store, but she waited to scratch it until she got back to her home in Montérégie, not far from Montreal, according to the Canadian Press news agency.
Lottery officials said in the statement earlier this week that she immediately told her family that she had won, and "everyone was euphoric at this stoke of luck."
Prizes in Canadian dollars for the Gagnant à vie game range from $4 to the grand prize — the $1 million one-time payout or the $1,000 weekly lifetime annuity. Although the odds of winning something are about 1 in 2.5, the chances of taking home the top prize are only about 1 in 6 million, according to the lottery.
The Canadian Press reported that Lagarde, accompanied by family members and friends, made her way Monday to the Loto-Quebec headquarters in Montreal. There, she was presented with the customary giant check.
Patrice Lavoie, a spokesman for the lottery corporation, called it a "great start in life" for a "kind, down-to-earth and well-advised young lady."
"She wants to pursue her education, study photography and dreams about working for National Geographic," he said in a statement Wednesday. "She was a real breath of fresh air when she came to our office to claim her prize, with friends and family. All of us at Loto-Quebec are really happy for her."
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congrats!
Congratulations to Charlie Lagarde! She waited to claim her prize. She consulted a financial adviser who gave the correct answers to her questions.
Can you imagine receiving (US$773.80) once a week for the rest of your life?
And she has dreams for her future.
Nice Congratulations!!! Charlie
The first time you play is probably the luckiest and the best time there is to play. Beats my $20 by a mile! Lol
I never liked the idea of trusting the government to fulfill its obligations in these matters (re: Illinois), but someone winning a weekly award for life at the age of 18 sounds smart for doing so. Congratulations!
Way to go, Charlie! May all your dreams come true! You're off to a great start!
Lucky and smart--congratulations to her.
It's in Canada, it's tax free. So it's $1,000CD a week. Also please show your math, here the feds withhold 25%, but a single person with 52K$ a year is no where near that tax rate, She would have got a big tax refund.
It's in Canada, it's tax free. So it's $1,000CD a week. Also please show your math, here the feds withhold 25%, but a single person with 52K$ a year is no where near that tax rate, She would have got a big tax refund.
Oops, I had read another article on the subject and did not see the translated Canadian Dollars to US$ in this article. Wow, that is a big dollar difference, I thought it was closer to 10%, sorry
One of my favorite winner stories!!! She values an education and has goals. And I learned there is a store in Canada called go to bed late...i.e. night owl??? Lol
Apology accepted. I love your signature. "Don't believe everything you read on the Internet" Abraham Lincoln
A bit anachronistic.
Read an article about this win, and investors were saying that she made the correct choice! Apparently, Canadians are living well into their 80's. Given that she is still only 18, Charlie will collect well over 3 million dollars in her lifetime. With a name like Charlie, it has to be good.
Hopefully she's wise with the money. At 18 its a good choice to take the annuity. If she lives to the 70 that's over 50 years of annual lottery payments which would equal over 2.7 million dollars. Just have to watch out for the snakes now. If there is a boyfriend (or ex) she may get pestered. If neither applies she may get unwanted advances from male figures. She just needs to be careful. Looks like that she has a good head on her shoulders.
Good for her.
Pure blind luck anyone doubt that?
And I'm waiting for someone to ask what kind of 'scratcher system' she used.
Here is the difference between canada and us lotteries.
In canada you can be 18 and play.
In the us you have to be 21.
In canada they will not tax the winnings.
In the us they will tax it on both the federal level and state level right when you win which means you have already lost 2/3 of the prize and then they will tax it for the rest of the time you are receiving the winnings.
So by the end of the payouts you have received 1/1000 of what you won.
In canada it may very well be for life. I am not in canada so I do not know.
In the us it says for life but it really is for 20-25 years max. So lets say you win and are 21 than your "lifetime" payments end when you are 41-46 years old.
Very Nice! Enjoy!
Hey CT,
what kind of "scratcher system" did she use?
Here in Ohio the back of the playslips say you must be 18 to play.
I'm sure a few here are dying to know.........
Perhaps "Steve Player" has one.
I actually have gotten lottery system flyers in the mail promising info. on how to beat the scratchers.
Thanks Coin
Sounds like a virgin player (first time), doesn't ?
Yes indeed congratulations to the young & smart lady by investing in her future
Player has to be willing to be lucky!
Pro-Player & FairGame Advocate
Eddessa_Knight
Here is another difference. Most people in Canada get an education.
Wow, that was a horrible financial decision she made. With $773,000 USD she could have taken $100,000 and put half down on a business like a Subway or something and made $80,000 a year just from that, invest the rest in stocks or whatnot and make another $60,000 or so a year, even put the entire $773,000 into rentals or apartments and make about $70,000 a year or so with a management company running things. Even if she didn't trust herself at this age she could have taken a little of the money out for a good education and invest the rest and have $60,000 or so coming in every year until she was done studying and had a career going or was more mature to invest the money more aggressively. Even halfway trying she'd make six figures every year investing in the stock market right now.
The age here in KY is 18.
Clarify one thing for me winoneday since you are Canadian. I ran into a couple in Las Vegas from Canada. I asked about their lottery and taxes. They said when you spend the money, then taxes are levied against your winnings. Is this true?
VenomV12, 70% of lottery winners lose all their winnings within five years. Now she has a guaranteed income for life. If she is College material than she can go further than owning a Subway, rentals, apartments. I hope she gets an advanced degree and has a wonderful life.
No
Thank you. They probably don't even play for all I know...lol
In Massachusetts the age of purchase is 18 as well.
Bluedog, I looked up the Canadian various sales taxes on Wikipedia, and it appears that between 5% to 15% is charged for purchases at cash registers. Additionally, if a resident later earns interest or dividends from their lottery winnings they also owe capital gains taxes. Hope that answers your taxing questions. Cheers!
They were probably referring to Value Added Tax, which is definitely what HaveABall is referring to. Most countries have a VAT. with the US being the exception among developed countries. The closest the US comes is the excise tax that applies to a few things, such as tires and gas/diesel fuel.
VAT applies to anyone who purchases the goods, so certainly isn't a back door for taxing lottery winnings.