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

Comment #22

Stack47 — Sat, 30 Aug 2008 02:47:23 GMT

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... [ More ]

Comment #21

JackpotWanna — Thu, 28 Aug 2008 22:54:02 GMT

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.

Comment #20

a$VeryLuckyMan — Thu, 28 Aug 2008 22:12:57 GMT

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

Comment #19

ThatScaryChick — Thu, 28 Aug 2008 04:42:51 GMT

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

Comment #18

grengrad — Wed, 27 Aug 2008 17:29:13 GMT

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

Comment #17

mken32 — Sun, 24 Aug 2008 17:48:23 GMT

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.....

Comment #16

LottoLin — Sun, 24 Aug 2008 14:13:05 GMT

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

LottoLin

Comment #15

lottocalgal — Sun, 24 Aug 2008 14:01:32 GMT

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

Comment #14

lottocalgal — Sun, 24 Aug 2008 13:58:23 GMT

Priceless!

I think that was a beautiful thing to do. Talk about a merry xmas. A few merry xmases and birthdays and anniversaries! Still OMHO, that is a heckuva looooong time to wait. I think it would take me only a few weeks. I will start looking for and interviewing representation the very next day and will go to claim my prize the day after all paperwork with those firms are finalized. Of course I talk that talk now, but I pray that I would have the patience to do it WHEN then time comes... [ More ]

Comment #13

Elizabeth03 — Sun, 24 Aug 2008 11:04:05 GMT

what does LMFAO mean

Comment #12

Nino224 — Sun, 24 Aug 2008 07:51:58 GMT

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!

LMFAO

Comment #11

savagegoose — Sun, 24 Aug 2008 03:56:45 GMT

i looked at ing direct pays 3.7% interest that sounds about right

so 3.8 mill x .037 = 0.1406 or 140k a year

div by 12 x 9 for how much in 9 months

or about 105k

still it sounds like they'll be getting 105k every 9 months for the rest of forever, i dont think missing out on the 1st payment is going to matter all that much in the grand scheme of things.

Comment #10

Elizabeth03 — Sat, 23 Aug 2008 15:26:55 GMT

Comment #9

Coin Toss — Sat, 23 Aug 2008 15:04:51 GMT

This is an incredible story. I agree with the posters here saying nine months is a looonnnngggg time to sit on a winner like that.

Remember a few years ago when a woman had bought a ticket some months prior to Christmas, and waited til Christmas to give it to her husband gift-wrapped in a box, and she said, This was the best I could do this year .

Comment #8

Gracie Girl — Sat, 23 Aug 2008 13:39:03 GMT

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 wha... [ More ]

Comment #7

Nino224 — Sat, 23 Aug 2008 09:38:23 GMT

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 g... [ More ]

Comment #6

sirbrad — Sat, 23 Aug 2008 06:45:00 GMT

It also depends on how knowledgeable you are about investing. Sure advisors and lawyers want you to wait, they want to get their cut. For me a few weeks would be plenty as I already have my plans mapped out. It also depends on the size of the jackpot as to whether I seek further investment advice. Also I am sure they have no plans changing much.

Comment #5

DC81 — Sat, 23 Aug 2008 04:32:06 GMT

Congrats to her but nine months? Really? I know it wasn't Powerball or Megamillions size jackpot but you'd think her lawyer would have suggested claiming it in a trust or partnership just to keep her and her family out of the press release, which is a legal way to do it in CT from what little bit I read. I guess that security was only in a financial sense, speaking of which, how much potential interest and dividends did she lose waiting almost a year? How much is the lawyer(s) getting for appare... [ More ]

Comment #4

Texas MadMan — Sat, 23 Aug 2008 04:28:39 GMT

I think it would probably take me 2 to 3 months to figure everything out before claiming the jackpot. It would be VERY hard not to rush into it, but I think you could save yourself a TON of money in taxes if you took the time to consult some advisors. It would be worth the wait. Congrats to her

Comment #3

ThatScaryChick — Sat, 23 Aug 2008 04:07:33 GMT

I wouldn't wait that long either, but she won and not me and people do what they feel is best for them. Congrats to her

Comment #2

justxploring — Sat, 23 Aug 2008 03:08:17 GMT

In Florida you only have 60 days from the date of the drawing to choose a lump sum, so waiting isn't an option unless the winner wants to take the annuity.

However, I would never wait that long. I always say I'd be calm and take time to think about what I want to do, etc., but that little piece of paper isn't worth much to the winner until it's validated. Just thinking about it sitting in a safe deposit box or hiding under my bed would be nerve-racking, so I have to give this lady credit for... [ More ]

Comment #1

sirbrad — Sat, 23 Aug 2008 03:02:27 GMT

9 months is a long time for a lot to go wrong, I would never wait that long. However I did all my preparing already unlike most jackpot winners who are taken by surprise. She knew she would win? Yeah OK. That is what everyone says about every ticket they buy, then it is quite easy to say that when it finally happens...luckily.

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

Lottery Post — Sat, 23 Aug 2008 02:18:00 GMT

Backcountry resident Lynn Hagerbrant knew she'd hit the jackpot just a day after she bought her winning lottery ticket yet she waited nearly nine months to cash in on the $8.8 million prize.

After checking her Quick Pick numbers online on Nov. 24, 2007, Hagerbrant said she realized the CT Lottery Classic Lotto ticket she'd bought at a Putnam Avenue Exxon the previous day was a winner the single winning ticket, in fact.

Her winning numbers were: 4, 7, 10, 23, 28, and 38.

But inst... [ More ]