D.C. postal worker plans to retire after 30 years with USPS thanks to $1 million lottery prize

Comment #14

billybucks — Fri, 20 Sep 2024 14:37:23 GMT

I believe an additional 680k would enable most to retire in luxury along with their social security check and other savings they may have had and if they own a house they would feel quite secure. Even if they had to pay taxes on the 680k they would be just fine.

Comment #13

golfer1960 — Fri, 20 Sep 2024 13:08:48 GMT

In NJ we have a One Million dollar scratch off and here is the payoff options:

$1,000,000 annuity ($40,000 per year for 25 years)

or

$628,500 cash option

Then you'd be subject to federal and state taxes after that.

Comment #12

golfer1960 — Fri, 20 Sep 2024 12:48:53 GMT

and then he has to pay about 40% of $680,000 in Federal and State taxes. He should net $384,000.

Comment #11

dickblow — Fri, 20 Sep 2024 03:07:36 GMT

some people have all the luck congrats

Comment #10

JustMaybe — Fri, 20 Sep 2024 01:03:41 GMT

I am not sure of the right terminology to use, but I can come up with Paper Millionaires

A One million dollar winner in the US would be one on the tax returns only.

The actual bank balance would be a different story. Hope you get my point

Comment #9

KaniK58 — Fri, 20 Sep 2024 00:58:55 GMT

The winner will have a retirement and social security plus his winnings. He will be just fine.

Comment #8

Artist77 — Thu, 19 Sep 2024 22:16:22 GMT

But you are still reporting a million dollar win on your tax return and taxes withheld. A million net worth assumes it is subject to taxation. If you hear someone say they have a $10 million net worth in homes, investments, savings, and retirement accounts, the taxation is assumed.

Comment #7

JustMaybe — Thu, 19 Sep 2024 21:00:20 GMT

I am totally with you on this one. Every time that I see an article that screams One million winner joins the millionaires club am always like, wait a minute, what about taxes? Unless we are talking about a winner in Canada where they don't pay taxes on the lottery.

Looking at the Maryland tax for nonresidents, the winner will pay this on top of the 37% to federal tax.

Non-Maryland residents: 8% state tax withheld

Add'l state taxes due (8.95% final rate)

To give the article some... [ More ]

Comment #6

Artist77 — Thu, 19 Sep 2024 19:57:56 GMT

I have seen MD lottery advertising on TV but not sure what channel since I only stream. I see a lot of DC and VA lottery advertising mostly.

There is a retired 80 year old postal worker in my neighborhood who told me her pension is 80 k per year. I did not ask. Lol i was updating her pc for her a few years ago. I am sure anyone working with a good job in the DC area for 30 years probably already has over $1 million in retirement assets. I am sure the Boeing type workers already have a couple... [ More ]

Comment #5

cottoneyedjoe — Thu, 19 Sep 2024 19:30:56 GMT

It is good PR. Does the MD lottery ever advertise in DC and VA? Or is it pretty well known by DC and VA residents that MD is player friendly

Comment #4

Lotologist — Thu, 19 Sep 2024 19:11:24 GMT

The man is not a millionaire, let's be realistic. He's taking home $680,000 and $680,000 isn't going to cover retirement in the DMV

Don't get me wrong, $680,000 is a lot of money but it's not retirement money. We need to stop calling people millionaires who don't have $1.1 million or more in possession.

Comment #3

Tony Numbers — Thu, 19 Sep 2024 17:45:28 GMT

Hello Newman

Comment #2

Artist77 — Thu, 19 Sep 2024 17:20:04 GMT

True but DC allowed a big pb winner years ago to claim via a LLC and never revealed his name. So there is an option there. But far less hassle in MD. They push anonymity and seem to realize how valuable it is pr wise.

Comment #1

cottoneyedjoe — Thu, 19 Sep 2024 16:14:20 GMT

D.C. resident loves crossing state lines to play Maryland Lottery

Of course, Maryland lets winners remain anonymous and D.C. doesn't. Congrats to the mystery mailman

D.C. postal worker plans to retire after 30 years with USPS thanks to $1 million lottery prize

Lottery Post — Thu, 19 Sep 2024 11:35:22 GMT

U.S. Postal Service worker becomes a millionaire and aims at retirement

By Kate Northrop

A Washington, D.C. U.S. Postal Service worker who dedicated 30 years to his role has his eyes set on retirement after winning a $1 million prize in the lottery.

A USPS worker is taking aim at retirement after suddenly becoming a millionaire thanks to the lottery.

There is one Washington, D.C. resident loves crossing state lines to play Maryland Lottery scratch-off games. However, it was durin... [ More ]