Wonder where the other half of 390 mill is?

Reply #54

justxploring — Fri, 20 Apr 2007 07:00:50 GMT

Prob988 writes:

I once had a financial advisor who got very upset with me for selling Lucent stock at $100/share. He carried on and stamped his feet but I insisted on selling the stock any way. He said there was at least $20/share more in the stock and I was being an idiot. (Yes, I fired him.) Guess what? Within one year the stock was under $5/share.

If your profile didn't indicate you live in NJ, I'd guess we had the same financial advisor.

Reply #53

Coin Toss — Fri, 20 Apr 2007 05:49:48 GMT

A very successful Wall Stret broker decide to break it off with his mistress. He went to her 45th floor penthouse suite and said, Honey, I'm ruined, my holdings tanked. It's all got to go, this place, your Mercedes, the minks, everything.

She screams and says, I can't live like that! , and jumps out the window, takes a 45 floor plunge. He looks out the window, then looks up and saus, Thanks, Paine Weber.

___________________________

Sorry, but I just had to throw some humor into... [ More ]

Reply #52

scorpio — Tue, 17 Apr 2007 19:13:51 GMT

gives hope to us who have not won,but support lottery every day.

Reply #51

OldSchoolPa — Tue, 17 Apr 2007 17:05:57 GMT

But seriously I would ask the lottery commission which bank writes the check and maybe deal directly with them.

By all accounts, Mr. Nabors was your typical middle class man. If and when I win, I would work with a financial services company that was willing to work with and help me analyze and straighten out my finances when I was working just to bring in say $25,000 - $199,000 each year...that financial services company is Primerica. When I was just making a shade below $100,000 a year and... [ More ]

Reply #50

scorpio — Tue, 17 Apr 2007 16:12:56 GMT

i hope all that money doesn't give them a false sense of security,and they still should fasten their seatbelts

Reply #49

Raven62 — Tue, 20 Mar 2007 12:04:02 GMT

A married couple from Tuckahoe claimed their half of a $390 million lottery jackpot Monday, ending a two-week search for the owner of the winning ticket sold in Woodbine.

Mr. & Mrs. Messner claimed their Mega Millions prize Monday afternoon at New Jersey Lottery headquarters in Trenton.

Messner bought his ticket at Campark Liquors the day of the drawing March 6. He let the computer pick the lucky numbers for him.

Reply #48

CA LotteryGuy — Mon, 19 Mar 2007 21:53:10 GMT

THe NJ winner has come forward: A newly retired couple, quick pick, took the cash oprion, contacted a financial planner, refused to have a press conference, communicated through their lawyer. Details on MSNBC.com

Reply #47

Guru101 — Sat, 17 Mar 2007 22:01:13 GMT

If someone wants to know how much they won, I think they should either:

1. Check online

or

2. Get a slip that has the winning numbers on it, and then look on the back of a playslip that shows how much you win.

I'm sure most clerks are honest about how much a person wins, but I like to have 100% certainty about the amount that I won. It would really suck to have a winner(especially a big one), and then the clerk tell you it's not a winner, keeping it for themself.

Reply #46

bambini — Fri, 16 Mar 2007 13:26:18 GMT

I say NJ winner is holding steady, waiting for a busy news day to cash in. Probably a person with a lot of money won the jackpot, and doesn't want any backlash from the have nots. The story about the guy signing the tickets and putting them in his paper bag, it could be true he lost his tickets, he could also have not had the winning ticket, now he will be spending the rest of his life wondering what could have been, and never really knowing because he didn't check his tickets. Keep in min... [ More ]

Reply #45

codmander — Fri, 16 Mar 2007 12:49:35 GMT

hmm intresting that 13% say -in the dump- its geting past the point of blind trust ! either they know about it and are scared to come foward ((which i can understand)) or its flushed,,,, Imaging 100mill flushed wow

Reply #44

lotterybraker — Fri, 16 Mar 2007 12:23:03 GMT

Here is my OPINON on the big money won issue..FIRST OF ALL..WHY would you need finacial planners for..are you bad with money?..are you playing Monopoly and who ever has the most when they die is the winner?..whats the deal..the man won 80 million dollars..WOW!!!..if he spends that much he is mentally retarded..lol..if that had been me..right off the bat I would have gave 8 million to my church..I have 5 sisters and one brother which I would have given a million dollars to each..that leaves me wi... [ More ]

Reply #43

DoubleDown — Fri, 16 Mar 2007 11:45:34 GMT

Hey Littlemanjen.. Tongue was planted firmly in cheek ...

Of course I don't know the man and have no idea what he did or didn't do with the exception of claiming the money in record time.

Ain't just sounds better that isn't sometimes...it has a better impact.

Perhaps we all should just agree to disagree and be done with this thread. What we say and do is irrelevant in the grand scheme of things.

Have a great day

Reply #42

Littlemanjen — Fri, 16 Mar 2007 03:21:13 GMT

Hey DoubleDown......you didn't explain yourself. You called a man Gomer Pyle when you really do not know him OR whether or not he changed his phone number OR whether he already had tax advisors in place and financial help in place, waiting to get the check. I guess we all need to be like you and use the word ain't twice in the same post, that will garner the respect of everyone. Who made your opinion the ONLY correct one? SHAZAAM! Guru, you could not be more correct in your sticking up for the... [ More ]

Reply #41

Prob988 — Fri, 16 Mar 2007 02:50:41 GMT

For the record, 5% interest on an $80 million sum is more than $11,000/day.

Personally I wouldn't spend all that much time huddled with magical financial advisors. What exactly would be the point? I could easily distribute the money in lots of banks - not that I would necessarily do that - and live very well on ordinary bank interest.

I once had a financial advisor who got very upset with me for selling Lucent stock at $100/share. He carried on and stamped his feet but I insisted... [ More ]

Reply #40

Stack47 — Thu, 15 Mar 2007 22:50:21 GMT

The majority of people simply don't know very much about investing, so the majority of people will benefit from good financial advice from a professional.

Because the majority of people don't have $80 million to invest and neither did Nabors before he validated the ticket. How does validating the ticket prevent him from wisely investing the money?

The bank probably won't require notice, but how annoying would it be to park $10 million or $50 million in your bank account and then find out... [ More ]

Reply #39

Stack47 — Thu, 15 Mar 2007 21:08:48 GMT

Most people don't expect to win that much money so even the cash or annuity option would depend on when it happened. We could discuss the pros and cons of either but the only opinion that counts is the ticket holder and we know that Nabors already made up his mind.

State lottery commissions have already cashed multi-million dollar tickets so most legal questions have been asked and answered but it would still be a good idea to have your lawyer present. It's the lottery's job to write the chec... [ More ]

Reply #38

Raven62 — Thu, 15 Mar 2007 19:28:26 GMT

For what anyone here knows Mr. Nabors may be a long time Lottery Player who had his ducks in a row: He may already have had a plan in place which he created by meeting with Legal and Financial Advisers, and the only thing remaining was Winning the Jackpot: When the Jackpot arrived he executed the Plan! Everyday you wait to get your Winnings is lost return on the Investments the Winnings would earn.

Reply #37

DoubleDown — Thu, 15 Mar 2007 19:22:50 GMT

Hey Dels and KY Floyd, take my advice and let this one go. You ain't gonna win.

We have already explained ourselves ad nauseum and it ain't gettin thru.. capisce ?

DD

Reply #36

Guru101 — Thu, 15 Mar 2007 19:08:14 GMT

Wow, a lot of people on this forum must have been bullies growing up as a kid.. YOU DON T KNOW HIM. Also, you don't know what he has done so far, nor what he plans to do. How do you know he didn't change his number? You don't. I think people are just judging him because they're sad they weren't the one who won the lottery. Boo hoo hoo. Don't be judgemental to the people you don't know

Reply #35

KY Floyd — Thu, 15 Mar 2007 18:48:42 GMT

I don't think anybody has said he's dumb, but it seems that the majority agree he did something that was very dumb. Unless you actually want your phone to keep ringing so that you can talk to a bunch of strangers who are calling only because you won the lottery, claiming your prize and talking to the press before you've even changed your phone number is stupid and qualifies as bad judgement by any reasonable definition. If you actually want your phone to keep ringing so that you can talk to a... [ More ]

Reply #34

Guru101 — Thu, 15 Mar 2007 18:08:38 GMT

You can't say it was poor judgement. You don't know him. Not everyone is the same. If someone feels more secure about claiming a jackpot right away then that's their decision. Plus, you don't even KNOW if in fact he will or not. So techically, you still have no say as far as his judgement goes. As far as I'm concerned, having card hold cash in the bank is a lot better than a tiny slip of paper in a wallet. Stop saying he's dumb.

Reply #33

Raven62 — Thu, 15 Mar 2007 16:34:11 GMT

Very few people get lost on Abutment Road, so my guess is it's a local, which...

Is playing it kool

Reply #32

scorpio — Thu, 15 Mar 2007 15:47:04 GMT

the way things are going,it might be an illegal alien,travelling to spring break,and wondering what all the excitement is,as they don't understand the language that well

Reply #31

CA LotteryGuy — Thu, 15 Mar 2007 15:04:10 GMT

MegaWinner...I wonder if the NJ Lottery wants you to set up an account with a financial institution so they can wire the money to your account.

In California the lottery will not wire your funds to a bank. You must pick up the check and take it to your bank or where ever you choose to transact your financial business. Should you choose the annuity they will send subsequent payments to your bank. At the time this information was printed (which was 2004 and is still currently on the CA Lot... [ More ]

Reply #30

delS — Thu, 15 Mar 2007 12:59:46 GMT

WOW! I have been on travel since the big jackpot was hit, and this discussion thread rerveals that people are passionate about the subject. Mr. Nabors i hope goes off happily ever after in the sunlight. However, having said that, he has displayed poor judgement, put his family and privacy at high risk CODE ORANGE! One interview I set an watched him talking about moving his daughter into a new home (commenable) out of a mobile park community (dumb to identify your daughter like that).

Reply #29

MegaWinner — Thu, 15 Mar 2007 04:24:34 GMT

This is pretty much what the person said. They said they just can't hand over a check that big to you because you can't just deposit it in your normal account or cash it at bank. I called when the MM was around $90 mill (I think). Thats what they told me. I am no expert, I am just relaying what this person said to you guys.

Reply #28

Raven62 — Thu, 15 Mar 2007 03:19:55 GMT

Campark Liquors in Woodbine, New Jersey where the Winning Ticket was sold

Reply #27

spy153 — Thu, 15 Mar 2007 01:25:53 GMT

my bank requires at least 24 hours for the check to clear above $5000. I don't know if it would be longer or if it matters for an amount in the millions.

Reply #26

Raven62 — Wed, 14 Mar 2007 23:53:59 GMT

The New Jersey Winner(s) - whoever they may be - have up to a year to claim their Winnings!

It is recommended that the Winner(s) sign their Ticket and meet with a Financial Adviser and an Attorney before coming forward.

Reply #25

LuckyLilly — Wed, 14 Mar 2007 22:32:18 GMT

I saw an article on this awhile back, and I don't think a trust fund is mandated. BUT it did say you can't just deposit a huge check into your normal checking or savings, you need a special account.

Reply #24

TheGameGrl — Wed, 14 Mar 2007 22:02:51 GMT

Thanks for taking the extra effort to contact a lottery personnel to get the Lowdown of deposits.

I doubt real HIGHLY that a TRUST FUND is MANDATED. Think again on that one. You can ask for the funds in rupees if that is where you are sending the money too! No Bank is going to turn away a 75 million account! They would salivate to have that amount . Get the name next time of this lottery employee because seriously that is inaccurate banking information they are relaying to persons...

Reply #23

Guru101 — Wed, 14 Mar 2007 14:12:12 GMT

You can deposit the check at a bank.

Reply #22

MegaWinner — Wed, 14 Mar 2007 12:39:10 GMT

Umm, just so you guys know, I called the NJ lottery headquaters and spoke with a person their and they informed me that you cannot even pick up your funds without a place already in place for them to deposit the funds and a bank is not one of them. They said no bank is going to cash or allow you to deposit a check that big so they require in the very least that the money be deposited into a trust fund.

Reply #21

DoubleDown — Wed, 14 Mar 2007 12:18:17 GMT

Shazam

Reply #20

DoubleDown — Wed, 14 Mar 2007 12:16:35 GMT

Thank you, KY...

One more thing : the tax ramifications....

One had better find a place( and it ain't the local bank ) for that chunk of cake that will maximize your net and decrease your tax liabilities..

Reply #19

KY Floyd — Wed, 14 Mar 2007 05:00:08 GMT

why would you need a financial adviser before you cashed your ticket and got the money?

How much notice is your bank allowed to demand before allowing you to make a withdrawal from an interst bearing account? The bank probably won't require notice, but how annoying would it be to park $10 million or $50 million in your bank account and then find out you had to wait once you had decided where to invest it?

The majority of people simply don't know very much about investing, so the majority... [ More ]

Reply #18

numbergirly — Wed, 14 Mar 2007 04:56:14 GMT

Hi MegaWinner... I heard the same thimg and it could be true. HOW AWFUL

numbergirly

Reply #17

justxploring — Wed, 14 Mar 2007 04:19:06 GMT

Maybe a financial planner isn't the first person to call, but I certainly wouldn't claim my prize before seeking legal counseling. Regarding the annuity vs cash question, I wouldn't leave that up to anyone else. However, I would review various investment options and spend time running some numbers. Then I would decide what was the best choice for my individual personality and lifestyle. Have you ever seen Deal or No Deal? The audience is always yelling No Deal because it's not their money.... [ More ]

Reply #16

justxploring — Wed, 14 Mar 2007 04:04:39 GMT

Guru, I'm not sure if you realize that Gomer Pyle was played by Jim Nabors (and the winner of the jackpot is Ed Nabors) although the town of Mayberry was supposed to be in North Carolina, not Georgia. I'm sure that's why DoubleDown used that comparison.

I also agree with GameGrl that safety privacy is an issue when someone wins a large amount of money. Celebrities have bodyguards and security gates for a reason, that being, some people are just plain cuckoo.

Reply #15

Stack47 — Wed, 14 Mar 2007 03:33:23 GMT

Wonder how many financial advisers been asked I just won $195 million; should I take the cash or the annuity ? But once that's decided, most people don't need to ask a financial adviser the directions to the lottery office.

I'm with Guru, why would you need a financial adviser before you cashed your ticket and got the money

Reply #14

LckyLary — Wed, 14 Mar 2007 02:57:59 GMT

It is not unusual for a big winner to wait a while to claim the prize, in fact about 1/2 the times I remember. The Lerners waited, the retired truck driver in VA waited until April 1th and Rebecca Jemison wanted to wait but Elicia Battle cut the time short. I remember JW rushed out to the C L in the snow the next morning but he thought he only had 4+1. The winners in Missouri came right out and so did the Wests. The ones in Nebraska waited a few days only. Seems like the PB winners hop to it and... [ More ]

Reply #13

DoubleDown — Wed, 14 Mar 2007 02:20:14 GMT

I'm not jealous. I wish I had won, like all of us do, but I'm not jealous.

Harsh statement ? Reality is harsh and so is the truth ...

Pressures are self imposed- and can be dealt with easily if you have a team to defer questions/ requests to.

DD

Reply #12

DoubleDown — Wed, 14 Mar 2007 02:17:52 GMT

Yes they cost money, but it is a drop in the bucket compared to what they will SAVE the winner by giving expert tax shelter advice.

I doubt many of us are aware of the tax laws, so we could save a ton by spending a little bit ..

What is that saying, penny wise- pound foolish

Reply #11

DoubleDown — Wed, 14 Mar 2007 02:15:02 GMT

Thanks Gamegrl..

That's what I would have said, but you said it better. Wasn't trying to be negative, just pointing out the obvious lack of judgement. Maybe Jim Nabors will be ok in the long run, but it's doubtful.

If I have learned anything at all in my tenure here at LP, it's wise to wait and get your team together first, then go get the ticket cashed. The office will be there when you get there.....

Heck, he doesn't take first prize for a hair trigger- There was a MM Jackpot won last... [ More ]

Reply #10

Littlemanjen — Wed, 14 Mar 2007 01:45:14 GMT

wow, I just see so much jealousy when it comes right down to it. Doubledown, that is a harsh statement. TnTea, yeah, right. Like you would wait 6 months to a year to claim and let others do so ahead of you. Get real! It was 390M....wake up and keep it real. Prob98.....thanks for your reality check to the others, and Guru, you nailed it on the head. Too funny how people are so quick to judge these people and can't IMAGINE the pressures associated with winning it. I know I certainly can't.... [ More ]

Reply #9

Guru101 — Wed, 14 Mar 2007 00:46:29 GMT

I'm not saying seeking financial advise isn't a good thing, I'm saying it's an extra option for the person if they want it, and if they don't take it, they haven't necessarily made a bad choice. These financial experts are going to cost money. The thing is though, these experts are people just like everbody else who want MONEY, MONEY, MONEY. Now that they got a millionaire asking for there oh so superior advise, they just might try to get as much money out of that person as they can. To presum... [ More ]

Reply #8

TheGameGrl — Tue, 13 Mar 2007 23:47:10 GMT

As to the original question, I like the idea of a good mystery! Not drama per se but a good ole fashion mystery! Who knows but the claimant :)

I could care less about the persons story about how they ran in for a milk or a bottle of gin, and miraulously chose to play that night for the first time!

Give me a person who had a stradegy and been a faithful player, Tell me its a Lady that had the common sense to seek counsel for financial and security. She doesnt need to be a mum of six or ha... [ More ]

Reply #7

TheGameGrl — Tue, 13 Mar 2007 23:39:34 GMT

Wooahhh...hold up there Guru. ITs completely WISE and in ones favor to seek financial advise before diving gong ho into the media festered limelight. If that is being negative and judgmental, then maybe its time to re-access your own financial stradegy should you ever claim a substantial amount. I agree in part that its ONES OWN MONEY and they can dern well do with it what they will, even if its at the cost of common sense. What I disagree with is the fell'r gave no consideration for how much of... [ More ]

Reply #6

Guru101 — Tue, 13 Mar 2007 21:31:56 GMT

The fact ALONE that someone claims a jackpot without consulting someone else does not prove anything. You cannot pass any negative judgement upon that person. The reason being is because you don't know that person. Now, if I won the jackpot, I wouldn't go get it the very next day, but I would feel comfortable claiming it without consulting anyone. Remember: You DON'T KNOW the person. I know you wanted to win, but just because you didn't doesn't give you nor anyone else the right to judge the per... [ More ]

Reply #5

Prob988 — Tue, 13 Mar 2007 19:17:17 GMT

I'm sure Mr. Nabors will seek advice and many people will give it. He's not necessarily stupid.

Reply #4

tntea — Tue, 13 Mar 2007 18:03:26 GMT

I would use every precious moment I had before cashing in..

There would be other winners... and my pot would be forgotten..

Reply #3

DoubleDown — Tue, 13 Mar 2007 15:15:49 GMT

It's only been a week. The winner is most likely in the middle of putting his / her plan together with financial consultants and tax advisors.

NOT like Mr. Nabors ( Gomer freakin Pyle) running down to the office before the ink dried on the ticket without any financial advice.

Reply #2

Todd — Tue, 13 Mar 2007 13:30:10 GMT

Reply #1

MegaWinner — Tue, 13 Mar 2007 13:19:25 GMT

Well I live about 30 minutes from Where the winning ticket was sold and the consistent rumor around here is a guy bought his tickets along with a 6 pack of beer. He then signed his tickets immediately after purchase and put them in his bag with his beer and left. Now he doesn't know what happened to his tickets or where they are.

I have drawn a few conclusions from this rumor. For one, I haven't heard anything official on this so its just hearsay until proven otherwise. Two, humoring th... [ More ]

Wonder where the other half of 390 mill is?

codmander — Tue, 13 Mar 2007 12:53:41 GMT

i think number 7 is waht would happen to me