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

Comment #21

Raven62 — Tue, 01 Nov 2016 13:44:10 GMT

A Success Symbol for Lottery Players Everywhere

Comment #20

Bleudog101 — Mon, 31 Oct 2016 23:25:04 GMT

How old is Jorge

Comment #19

Skibunnylk — Mon, 31 Oct 2016 21:39:43 GMT

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.

Comment #18

music* — Mon, 31 Oct 2016 19:32:21 GMT

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 i... [ More ]

Comment #17

KY Floyd — Mon, 31 Oct 2016 04:45:31 GMT

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.

Comment #16

sully16 — Sun, 30 Oct 2016 10:54:39 GMT

Congrats Jorge, good luck.

Comment #15

ressuccess — Sat, 29 Oct 2016 21:29:18 GMT

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

Comment #14

wander73 — Sat, 29 Oct 2016 12:45:16 GMT

Owning something means taking care of it means property and because of our difficulty times in this country the taxes and other things. Running a business isn't always easy and you have to see what people have to adapt to

Comment #13

helpmewin — Sat, 29 Oct 2016 05:20:28 GMT

a lot better things with the money.

Anyway Congratulations Mr,Jorge Alejandro

Comment #12

Bleudog101 — Fri, 28 Oct 2016 20:55:01 GMT

What ever floats your boat Jorge, you go for it. As long as you are yours are happy, that's all that matters. Personally I'd be like most of LP posters and venture into something else. I always wanted to own a bowling alley, and that would be my passion when I win the big lottery.

Comment #11

LottoAce — Fri, 28 Oct 2016 20:30:25 GMT

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

thats the kind of mentality like the dishwasher, who didn't claim his lottery jackpot

untill his boss let him have a day off work to do so.

maybe there is some pyscological explaination. that

maybe they just aren't ready for thier life to change

dramaticaly.

but if that is so...then why play the lottery at all?

just pondering....

Congrats to the winnner

Comment #10

wander73 — Fri, 28 Oct 2016 19:03:37 GMT

If it were me personally I would have ventured differently. There are websites on the internet. Hire people to do the job and make successful. I see a failure. Maybe the other guy took whatever and ran. Something doesn't add up right.

Comment #9

DELotteryPlyr — Fri, 28 Oct 2016 18:53:50 GMT

We don't have enough details to know how it went, but that is a good point you make. Being an employee he might KNOW all the details of how the store is doing. Also I always think its smart to invest in what you KNOW.

I hope it prospers and he enjoys his new role in the business.

Comment #8

wander73 — Fri, 28 Oct 2016 18:53:36 GMT

I read the full story. I agree with you. That is my point. The only people that know of this behind the scenes are the new coowner, the previous owner, tax preparer and so forth. Sounds to me like this person wanted his two cents in and this place is going to be a failure but we all don't know.

Someone in the Philly area tried to sell my friend a chinese place to him for free. I told my friend don't do it because he didn't know the proper business, taxes, esrow and so forth. In fact the... [ More ]

Comment #7

Unluckyone — Fri, 28 Oct 2016 18:25:30 GMT

Not sure how much he spent to purchase the business but I would have invested the money in a much different manner. I can't imagine he was able to do a complete audit of the finances or even hire qualified people to look into whether this was a viable business. Going in blind without doing your due diligence is a quick way to financial ruins.

For the previous owner to quickly agree to a selling price puts up all sorts of red flags.

Comment #6

JoeBigLotto — Fri, 28 Oct 2016 17:13:11 GMT

Somebody please pinch me and tell me his Boss name is not Mr Patel. Only Mr Patel can come up with this fantastic story using is worker for family business am impress Mr Patel Lol genius

Comment #5

wander73 — Fri, 28 Oct 2016 13:14:40 GMT

Never did say. Just a thought some people don't do. Could do better things with the money.

Comment #4

zephbe — Fri, 28 Oct 2016 09:16:46 GMT

Congrats to him. He bought the store--that's not a partnership.

Comment #3

wander73 — Fri, 28 Oct 2016 04:57:04 GMT

Yes my fault. Partnership and put in writing. Get as much commission and stay out of business operations. As long as the location is doing fine find other places and do a major partnership.

Comment #2

music* — Fri, 28 Oct 2016 02:08:15 GMT

A partnership? Dave Ramsey says, The only ship that does not sail is a partnership .

I congratulate the new young owner. I hope that his business increases.

Comment #1

wander73 — Fri, 28 Oct 2016 01:57:32 GMT

I would ask joint ownership.

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

Lottery Post — Fri, 28 Oct 2016 01:04:04 GMT

Dude... Things would be different if I owned this place.

Any convenience store clerk that has put in time behind the register has probably uttered this empowering phrase under their breath at one point in their career. But one New Jersey worker recently got to breathe life into this fantasy, courtesy of a $1.25 million state lottery win.

Jorge Alejandro a young man working as clerk at Jefry Supermarket on Ocean Avenue in Jersey City won a $1,256,093 prize in the Jersey Cash 5 drawing on M... [ More ]