A Wayne County, Michigan, woman had a dream that she won $4 million on a scratch-off lottery ticket. Four months later, it really happened.
The 28-year-old woman, who chose to remain anonymous, told the Michigan Lottery that after having her dream, she started buying $30 instant tickets.
Recently, she purchased a Millionaire's Club ticket and revealed a win symbol.
"When I scratched off the prize and saw '4MIL,' I couldn't stop shaking and crying," she told the Michigan Lottery. "I called my friend right away and asked him to come double check the ticket for me."
She purchased her ticket at the Valero gas station located at 3801 West Vernor Highway in Detroit.
She opted to receive a one-time lump sum payment of about $2.5 million.
She'll use the money to pay off student loans, set up college funds for her children, buy a new home and save the rest.
"Winning this at my age is such an incredible opportunity for me and my family," she told the Michigan Lottery. "I'm going to make good decisions so that I have this money for years to come."
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Congrats on the big win.
Thirty dollars and a dream! $4,000,000.00 or half of that after all taxes are paid. Smart choice to not take the Annuity. As mikeintexas wrote, When the Democrats regain the power to tax, the rates will increase in the future. Will we see 90% rates?
Congratulations to this dreamer and following her dream.
"She opted to receive a one-time lump sum payment of about $2.5 million."
Should clear around $1.5 million after 37% federal and 4.25% Michigan taxes . . plus wages get jacked up into the 37% tax bracket for tax year 2019.
Everyone has their own financial priorities . . but $1.5 million invested in something like VWEAX would presently yield around $7,000 monthly dividends before taxes. If conservatively budgeted, some could potentially retire on that income.
I dreamed that I won the Powerball ..........
So far that hasn't happened LOL
Congrats to the winner
I sure can't wait til DEMS WIN... They are already in power again rightfully so by winning back thank the lord the HOUSE... That make me happy to see...
However, (music) i respect your choice of parties etc.al., and good afternoon!
I do well on the big expensive tix at times,so i feel it's worth it to try em, and my pick 4 ALOT...
But, i m only buyin' the bigger tix,more sporatic now."I am doing so well,
and i hope it continue on winning(by playin' only 1 #)pick 4 and getting NICE $$$ win,for years."
I love seeing the FOUR MILLION DOLLAR PRIZE "win" on the ticket, as it just make it that much more REAL."
I look her ticket, and isay WOW, almost in her thirties,
and she is going to be able to truly
(i hope)wisely enjoy it while investing to make it last or at least i HOPE... But, yet, some do not.and while young, or older lose it jut way too too fast.." I love seeing the real WIN with the prize underneath, i would have passed out fast lol aw. happy for her though. Congrats to her...
Hi there,
sweetie 7398.
here in NC, your username,(beside being my mother's old work place addy many yrs ago before she retired
Enjoy your day, and good luck with your LOTTO games tonight. and this entire month."
Lol! Mine was a one dollar instant and in reality didn't win nothing on it dream or not.
My state has been steadily declining the jackpot grand prize on tickets...where it used to be top prize of 25k or 50 k on a 2$ scratcher is now 10 k to 17k. I'm sure the near future will see...hey top prize of double the ticket value!
This lady is blessed indeed ! I'd tell her to keep it away from stocks and plunk it down on a paid for home. No mortgage. Signed sealed and done.
Would you buy a new car?
She opted to receive a one-time lump sum payment of about $2.5 million.
It's one thing to understand the $4 million prize is before taxes, but I can't see anything on the front of the ticket indicating that prize is an annuity. Some state lotteries are advertising PB and MM cash values and making it clear the jackpot is an "annuitize prize".
Some say the lottery is a tax on the poor and uneducated and some state lotteries are going out of their way to prove it.
Nice dream, glad it came true, congrats to the lucky lady.
Accept a one time payment of $2.5 mill is not smart when she's so young.
If the IRS didn't soak you for 20-30 years taking the annuity, it might not be a bad idea. If she's smart she'll have all her ducks in a row and not worry about money rest of her life.
Stack47, couldn't find anything about cash-option on the MI lottery website vs annuity for instant tickets. Whomever wrote about their website from MI how awful it is may have a point.
When do you think Todd will write his Top 25 jackpots?
Good point music*; always enjoy Todd's top 25 Jackpots.
Oh really, you think so?
Let's say she did something simple and bought commercial property and got something like a 9% return every year, spent $2 million of the $2.5 million doing it, that's $180,000 a year. Multiply that by 30 years and now you have $5.4 million plus the property even if it didn't appreciate worth $2 million for a total of 7.4 million vs $4 million. By barely trying she could effectively double her money vs taking the annuity. Now if she's a complete idiot and can't manage her money or whatever then yeah, by all means take the annuity.
I guess you have not seen the stories of lottery winners investing in businesses for which they have zero expertise and losing it all. Buying a commercial property is not simple on any level and leaving her only $500,000 for other issues is not wise. Do you understand the costs of operation for a $2 million commercial property, Legal advice, licenses, inspections , upkeep, and possible fines, etc.? And not all commercial properties are successful. Most of that on paper guess of a 9% gain would not be realized until it was sold.
Muni bonds are about as risky as I would go with less than $5 million.
Do the rest of us a favor, stay in California.
You can buy an apartment complex or other commercial property and a management company will do everything for you, people do so all the time. Also 7-9% is the average annual NET profit for commercial property AFTER all expenses if you pay cash for it, the really prime properties maybe 5%. I know three people that have won the lottery, years later they are doing just fine, still in their homes, still have their cars and still retired. I'm pretty sure with a paid off house and cars you can live just fine with the income from your properties. My one buddy that won the Mega Millions lives off the interest from his money he has invested, budgets himself $10,000 a month, house and cars are paid for. I have a neighbor that owns a large business and also has apartments and a few franchise restaurants also and he probably steps inside those restaurants about 5 times a year if that, and he's had them for years now. Lottery winners aren't nearly as dumb as people make them out to be or hope they are.
Amen!
I was a bit surprised with the comments about the gender of a woman winner in another post. Very obviously female but maybe the lp member lives in very non diverse community or a small town. Not very pc for California. But it is do as I say vs do as I do.
I am not buying it and I know a great deal about commercial investment. It has nothing to do with intelligence of the lottery winner but more with greed.
I would question the intelligence of any lottery winner giving out personal financial info to an alleged friend who posts the details online.
She should go the Nicolas Cage route and buy some "investment castles" in Europe. I believe this turned out quite well for him.
Lol
Some people have all the luck!