Winner Gets Fleeced

Reply #13

sully16 — Wed, 08 Sep 2010 23:26:25 GMT

Congrats on your win.

Reply #12

johngreek — Wed, 08 Sep 2010 21:16:56 GMT

congrats Natalie

good things happen to happy and positive people..

Reply #11

OwlCreekBridge — Wed, 08 Sep 2010 20:10:29 GMT

thanks

Reply #10

NataBost — Wed, 08 Sep 2010 20:07:02 GMT

Thank you, I hope you all will have a story to share as well. :)

GOOD LUCK!

~Natalie Bostelman

2008 SuperPrize Winner

PCH Goodwill Ambassador

Reply #9

OwlCreekBridge — Wed, 08 Sep 2010 20:02:31 GMT

awesome story. thanks for sharing. I love to hear big win stories, I hope I have one to tell some day too

Reply #8

NataBost — Wed, 08 Sep 2010 19:43:21 GMT

Thank you, Todd!

I just happened to do a search and found your site, as my show is airing again tomorrow. We didn't go too crazy - just a few things here and there so that we could get the WE WON! out of our system, but we concentrated on paying off our debts (YES!!!), investing and building our dream home that my husband designed.

The win was a big blessing, especially since I was working three jobs right before the winfall happened. I wouldn't change a thing. Now I have a little mor... [ More ]

Reply #7

OwlCreekBridge — Wed, 08 Sep 2010 19:42:01 GMT

did you say, holy toledo! when you won? if not, you know you should have.

Reply #6

Todd — Wed, 08 Sep 2010 19:25:28 GMT

Natalie,

Congratulations! It's great to hear from you, I hope you enjoy that extra boost in the wallet! (Do and buy some fun things -- but I'm sure you've got that covered

Reply #5

NataBost — Wed, 08 Sep 2010 19:15:04 GMT

Thank you, that is pretty much the case. PCH awards prizes as an annuity, so there is the option of the 30 year pay out or a lump sum of the present day value of the annuity. That value varies due to market conditions. We took the cash option, and we're happy and debt free. :)

GOOD LUCK!

~Natalie Bostelman

2008 SuperPrize Winner

PCH Goodwill Ambassador

Reply #4

joker17 — Fri, 03 Sep 2010 03:19:11 GMT

I'm so glad you addressed this issue. I have many lottery layman friends who debate me on this, and I break down the options. But they just don't get it. A Lump sum decision not only includes regular taxation, but the winner is further Penalized . The sacrifice a winner must make in trading, is accepting a smaller percentage of the actual JP prize after taxes and the lump sum tax. It's the State taking away from you, what THEY would've made in interest on, in a 20 year time span.

$10,000,000... [ More ]

Reply #3

Hermanus104 — Fri, 03 Sep 2010 03:12:29 GMT

I think, then, that they should say that the top prize is $250,000; not $1 MILLION. I would rather they just give a smaller figure without taxes; giving the larger figure is misleading.

Reply #2

Todd — Thu, 02 Sep 2010 11:52:54 GMT

It was probably a cash option, just like a lottery, and the taxes on top of that. PCH awards prizes over 20 years, not lump-sum. That's how they're able to have $1 million prizes in the first place.

Reply #1

johngreek — Thu, 02 Sep 2010 09:55:48 GMT

its so bad that they tax your lottery like crazy in the usa.

thank god you have huge jackpots so its less frustrating.

the best is uk with zero tax in winnings and here as well not bad tax is only 15

Winner Gets Fleeced

Nino224 — Thu, 02 Sep 2010 09:14:53 GMT

One of the winners profiled in Lottery Changed My Life had won the big prize in the PCH sweepstakes.

They said she won $1,000,000, but that after taxes and fees her take home was actually $250,000.

Now, I know the taxes on that amount is around $350,000, which means she got nailed around $400,000 in fees. My question is what the hell kinda fees are those