Incognito winner sports black marker mustache and shades
What do you do when you've been unemployed for months and your tax refund comes through on April Fools' Day? Michael Perez, 51, of St. Albans decided to take a chance and put $5 on the New York Lottery.
"I felt guilty spending the money, I needed it for other things," he said. He no longer feels guilty; the ticket netted him $14 million.
Perez was joined at the Queens Botanical Garden on Tuesday by representatives of the New York Lottery, who presented him with his check.
Other winners present were Yoon Kim, who stood in for his father, Chong Bang Kim, 52, of Elmhurst, who won $1 million; and Ruben Martinez of the Bronx, who spent $2 on a Win $2,000 A Week For Life instant ticket, and will receive a minimum of $2 million, paid to him after taxes. He'll receive $16, 771 per quarter.
Perez, a former warehouse supervisor for Southern Wine and Spirits in Syosset, L.I. was let go from his job following a miscommunication between himself and his boss.
Since then he had held a temporary job, but had been looking for work.
Sporting dark shades, a painted-on goatee, an NYPD cap pulled down over his eyes, a discreet braid, bright yellow pants, and a cream jacket, Perez explained that his first priority was to clear his debts. He owes about $11, 000, mostly on credit cards. "It doesn't seem like much now, but before it was overwhelming."
His plans for the future begin with a trip to Disney World in Orlando with his wife of 11 years, (Jetaun) Tracy. He's never been there before, but plans to stay long enough to go on every ride, meet everybody and feel ready to come back and decide how to spend the money.
Perez and Tracy, who works as a receptionist at the AIDS Center of Queens County, have been living in his mother's basement, and he has had to rely on financial help from his mother, his mother-in-law and his wife.
He intends to figure out what his family members need. His mother had put him on a budget of $40 a week, which was not enough for gas, before he won the lottery. "Her bank account is low now. I'm going to help out," he said.
Although it had been widely reported that he and Tracy would be buying their dream house and moving out of the basement, Perez said that he would be taking care of his mother and his mother-in-law, first. "One hand washes the other," he said. referring to all their help and support since he lost his job.
He and Tracy have no children, but he has a 30-year-old son by his childhood sweetheart who lives in Albany.
Perez has friends, family, a lawyer and a CPA helping him out with the money, but doesn't plan to make any important decision any time soon.
When asked to remove his sunglasses for a photo Perez said, "That's not going to happen."
The Queens Botanical Garden had provided a large slab cake for the ceremony and Perez was anxious for the interviews to end so that he could enjoy his slice. "Mmm cheese cake," he said, "my favorite."
Later he posed for pictures with his oversized check. At first he held it over all but his eyes, then he peeked around the side of it, laughing and joking with the media.
Suddenly he became bewildered. "Where's my wife?" he asked and when told she was waiting for him to leave, he instantly ended the interview.
Perez said he was still broke, referring to the Lottery's practice of holding the ceremony before handing over the money. "It will be in his account in two to three days," Carolyn Hapeman, of the New York Lottery assured him.
He had opted to take a lump sum, which means that after taxes he will receive $5,052,675.
Yoon Kim, the son of Elmhurst winner, Chong Bang Kim, described his father as an average guy and said that he had jumped for joy when he discovered he and his wife, Chang Hee, had won $1 million.
Kim owns a Korean restaurant but didn't name it. He purchased his ticket on a routine visit to the grocery store and will receive the money in payments of $50,000 per year, $32,251 after taxes, for 20 years.
Perez purchased his Quick Pick ticket on April 1 at the Prince Supermarket on Linden Boulevard in St. Albans.
Quote: Originally posted by JackpotWanna on Apr 22, 2008
I wouldn't mind that figure in my checking account. Wow and with only a $5 investment!
Enjoy your moola.
$5,052,675
Hi, Jackpot Wanna. I never said that $5M isn't a lot of money. (actually, I didn't write anything) However, I've always said I'd be happy with any win. Please re-read the first sentence I quoted and then the second. The key word here is "netted."
Quote: Originally posted by MillionsWanted on Apr 22, 2008
A 65% tax on lottery winnings? That sounds like way too much.
Or is it that the lump sum reduces the winning to half and he pay taxes on that: $2,000,000?
Remember, he is a resident of NY State. Their scartch-off tags are always annuity. So, unless you are amongst the rarist people in the universe, you loose 50% by choosing cash (liump sum). Blink, and the $14M became $7M. Then come the tax people. There is 6.85% for the state, gone with the second blink. Then the feds, who will grab around 38-42% with another blink. When you look at the shiny lure, you blink, and every time you blink, your win drops. If he is lucky, the city, county, or other muncipality won't get more.
This is why a lot of lottery winners go broke. They lose track of what they really win. All those rich people, the Liberals love to tax, and tax, and tax, becomes a lottery winner biggest nightmare. Go out and buy that luxury house, pay a huge tax. Go out and buy a couple of those luxury cars, pay a huge tax. Give your family members a couple hundred thousand, money gone forever. Even if you donate a tone of money, that specific ton of money is also gone forever. Next thing you know, that $5M is colleteral for a loan.
Based on his credit card debt, he has zero idea of how to manage his money. Hopefully, he will find a certified financial adviser - and L-I-S-T-E-N to that person. If not, he'll soon be on the internet as a man who lost $14M; when he NEVER had $14M to start with!
And then...there are the lucky -- and there are the damn lucky! Imagine, being out of work, spending some of your tax refund, and hitting the jackpot. Life doesn't get any better than that, does it?
Quote: Originally posted by MeFirstYouLast on Apr 22, 2008
Remember, he is a resident of NY State. Their scartch-off tags are always annuity. So, unless you are amongst the rarist people in the universe, you loose 50% by choosing cash (liump sum). Blink, and the $14M became $7M. Then come the tax people. There is 6.85% for the state, gone with the second blink. Then the feds, who will grab around 38-42% with another blink. When you look at the shiny lure, you blink, and every time you blink, your win drops. If he is lucky, the city, county, or other muncipality won't get more.
This is why a lot of lottery winners go broke. They lose track of what they really win. All those rich people, the Liberals love to tax, and tax, and tax, becomes a lottery winner biggest nightmare. Go out and buy that luxury house, pay a huge tax. Go out and buy a couple of those luxury cars, pay a huge tax. Give your family members a couple hundred thousand, money gone forever. Even if you donate a tone of money, that specific ton of money is also gone forever. Next thing you know, that $5M is colleteral for a loan.
Based on his credit card debt, he has zero idea of how to manage his money. Hopefully, he will find a certified financial adviser - and L-I-S-T-E-N to that person. If not, he'll soon be on the internet as a man who lost $14M; when he NEVER had $14M to start with!
I thing the last part of your post is unfair. He did just lose his job. He may have had to go into credit card debt to feed his family. :(
Correct me if i'm wrong but I think the article also said he had an advisor and lawyer teamed up already. Sounds like he has a decent head on his shoulders. The only thing I would have done differently would have been to take an annuity.
Congrats to the guy. It is heartwarming to hear him say he would take care of those who helped him when he needed it most - his mother and mother-in-law. Here's wishes that he handles his winnings with intelligent decisions.
GamerMom - just curious, why would you have optioned the annuity? Just in this instance, or is it your preference?
Thank you gamermom for your commentary. The previous poster made an overgeneralized *ASSUMPTION* based on one part of the mans finance. Heaven forbid if that guy saw some of my finance. If I said I am 60k in debt most would shutter, yet maybe its from a mortgage, a car payment and a hospital bill for an ailing relative . ....all which get paid monthly as agreed ...yet its still a debt none the less....
ANyways the guy DOES have his head on right by saying he is helping those that helped him during his rough time. Bravo for him and I hope he enjoys his new found wealth! Ohh and congrats to the NY lottery for taking their chunk too! I'm sure they like being partnered with winners....
No, I think i would take the annuity for a piece of mind for long term security after I quit my job. I have a congenital heart defect, something called Tetrology of Fallot, and I don't think anyone would ever sell me medical coverage here in these United States where we are sooo lucky to not have universal medical care. I would need to ensure that I have money coming in for a long time in case i ever needed a heart valve or other major heart surgery.
Would you pick the lump sum and why? I'm always curious to hear another's POV on the subject :)
Quote: Originally posted by MeFirstYouLast on Apr 22, 2008
Remember, he is a resident of NY State. Their scartch-off tags are always annuity. So, unless you are amongst the rarist people in the universe, you loose 50% by choosing cash (liump sum). Blink, and the $14M became $7M. Then come the tax people. There is 6.85% for the state, gone with the second blink. Then the feds, who will grab around 38-42% with another blink. When you look at the shiny lure, you blink, and every time you blink, your win drops. If he is lucky, the city, county, or other muncipality won't get more.
This is why a lot of lottery winners go broke. They lose track of what they really win. All those rich people, the Liberals love to tax, and tax, and tax, becomes a lottery winner biggest nightmare. Go out and buy that luxury house, pay a huge tax. Go out and buy a couple of those luxury cars, pay a huge tax. Give your family members a couple hundred thousand, money gone forever. Even if you donate a tone of money, that specific ton of money is also gone forever. Next thing you know, that $5M is colleteral for a loan.
Based on his credit card debt, he has zero idea of how to manage his money. Hopefully, he will find a certified financial adviser - and L-I-S-T-E-N to that person. If not, he'll soon be on the internet as a man who lost $14M; when he NEVER had $14M to start with!
Well, if you're disturbed by taxes, you are perfectly free to move to the Congo, or Dafur, or Bosnia or Iraq.
I assure yoiu that evil "liberals" will not be able to collect taxes in those places.
Speaking of fools, suppose you were to win the lottery in your smug way, and then find that you are living in a country with no infrastructure.
It would seem to me given that conservative rule just piles up debt and debt and debt, causing the value of the dollar to fall by half, that conservatives are pretty good at squandering fortunes. They have taken the richest country in the world and made it into the world's most incredible debtor. In fact, if you won the lottery - which you won't - you would find that the value of your winnings would be reduced by half simply because of the dopey policies of a very, very, very, very, very short sighted credit card fixated President of the United States.
But it's not all a loss. Look what we got for it: Iraq.
I don't think they pay taxes there either. You are invited to go at any time.
Oh, sorry to hear about the heart problems GamerMom. My sister is a heart nurse in Dallas, or was - she's out of patient care and works in quality control. The heart is not something to take lightly. Good plan on your part.
For me, I don't have any such long term problems that would weigh one way or the other for my decision. I've kind of looked at both options, and I find that my investment guru could probably make as much annually on average with the lump sum as the annuity payments - even after you take the discounted jackpot and hand over gobs of it to both the state and the feds. All this is based upon what he has done for me so far - 1st quarter of 08 excluded although I fared better than others I know.
Quote: Originally posted by Prob988 on Apr 22, 2008
Well, if you're disturbed by taxes, you are perfectly free to move to the Congo, or Dafur, or Bosnia or Iraq.
I assure yoiu that evil "liberals" will not be able to collect taxes in those places.
Speaking of fools, suppose you were to win the lottery in your smug way, and then find that you are living in a country with no infrastructure.
It would seem to me given that conservative rule just piles up debt and debt and debt, causing the value of the dollar to fall by half, that conservatives are pretty good at squandering fortunes. They have taken the richest country in the world and made it into the world's most incredible debtor. In fact, if you won the lottery - which you won't - you would find that the value of your winnings would be reduced by half simply because of the dopey policies of a very, very, very, very, very short sighted credit card fixated President of the United States.
But it's not all a loss. Look what we got for it: Iraq.
I don't think they pay taxes there either. You are invited to go at any time.
Oh dear - it's all Bush's fault. Yep - he made all those people buy too much house at subprime rates and forced them to take out multiple credit cards and charge them all up. But the Democrats will come to the rescue, increasing taxes for the evil rich families who make more than $250k. The Democrats will tax them until they have to lay off the families they employ in order to pay their taxes so that the government can take care of all of us. That'll work.
....Cuz the Obama Man can....oops, I mean the Candy Man can, cuz he mixes it with love and makes the world taste good....
Evil liberals, evil conservatives, evil rich white man, etc. Let's just keep dividing this great country until we all forget the truths behind the phrase "united we stand, divided we fall".
Somtimes, I wonder. Is it because somebody out there that desperately need win lottery more than do? I that's why they win. Keep thinking of this idea makes me happy.
God is the Champion of using JIT System (just in time).
I dunno about that considering how things turn out for a lot of winners such as David Edwards for an extreme example. Then there's always our good friend Jack Whitaker who was already a millionaire when he won the biggest US lottery (at the time) in history and recently nearly won again but "only" got the $10,000 prize. The thing that kind of bugs me about that is his story on how the lottery "ruined his life" or however it went, yet he still plays and nearly won another jackpot. I wonder if he donated it though he probably actually needs the money these days. It's just luck and some people just have it not matter what kind of person they are and some have their lucky moment and then follow through total ignorance (maybe arrogance too) and flat out stupidity.
It seems like for every one Brad Duke (is there even more than one? Though time will tell how much of a success he really is.) There's probably five David Edwards, Peter Kyles, William Post, Suzanne Mullins, Willie Hurts, Charles Riddle, Janite Lees or Evelyn Adams, who actually won twice.
He only spent 5 bucks and won $14 million ( Net $5 Million ) Goes to show you don't need to spend lots of money to win the lottery. Amazing story. Good luck to all Millionaire wannabees.
When asked to remove his sunglasses for a photo Perez said, "That's not going to happen." 
Lucky for him!
Hope he spend it wisely.
Just in time- I'd say.
Congratulations to him and the other winners!
Glad he listened to Thing 2 (Desire to win) instead of Thing 1 (Guilt)!
Congratulations and many more blessings to follow!!
I love these types of stories. Rags to riches. WTG!!!
Congrats to him! He was very lucky indeed!
"... the ticket netted him $14 million."
"He had opted to take a lump sum, which means that after taxes he will receive $5,052,675."
I wouldn't mind that figure in my checking account. Wow and with only a $5 investment!
Enjoy your moola.
$5,052,675
Hi, Jackpot Wanna. I never said that $5M isn't a lot of money. (actually, I didn't write anything) However, I've always said I'd be happy with any win. Please re-read the first sentence I quoted and then the second. The key word here is "netted."
A 65% tax on lottery winnings? That sounds like way too much.
Or is it that the lump sum reduces the winning to half and he pay taxes on that: $2,000,000?
I believe this was mentioned in the news article.
"He had opted to take a lump sum, which means that after taxes he will receive $5,052,675."
I absolutely love to hear stories like this. I'm so glad someone that deserved and needed it it so much won.
SOS what is the PROBLEM ???????????????
when HILL or O'BABA get's to be PRESIDENT>>>we will HAVE change
in ALL our POCKET'$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$I
IF I have any spare CHANGE???then I will play the LOTTERY!
LITTLE PEOPLE can live-off GOODWILL & foodbank's and they kan
say>>>>>>>>screw taxes>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
I'm>>>>>GONNA WIN de LOTTERY and BE
free>>>>>free>>>>>>@@@@ LAST>>FREE!
give too "GOODWILL" and
dee "SALVATION ARMY" 2
LOL
PSYKOMO
Remember, he is a resident of NY State. Their scartch-off tags are always annuity. So, unless you are amongst the rarist people in the universe, you loose 50% by choosing cash (liump sum). Blink, and the $14M became $7M. Then come the tax people. There is 6.85% for the state, gone with the second blink. Then the feds, who will grab around 38-42% with another blink. When you look at the shiny lure, you blink, and every time you blink, your win drops. If he is lucky, the city, county, or other muncipality won't get more.
This is why a lot of lottery winners go broke. They lose track of what they really win. All those rich people, the Liberals love to tax, and tax, and tax, becomes a lottery winner biggest nightmare. Go out and buy that luxury house, pay a huge tax. Go out and buy a couple of those luxury cars, pay a huge tax. Give your family members a couple hundred thousand, money gone forever. Even if you donate a tone of money, that specific ton of money is also gone forever. Next thing you know, that $5M is colleteral for a loan.
Based on his credit card debt, he has zero idea of how to manage his money. Hopefully, he will find a certified financial adviser - and L-I-S-T-E-N to that person. If not, he'll soon be on the internet as a man who lost $14M; when he NEVER had $14M to start with!
YES>>yes>>>>>>>SENIOR P:
YOU have TIME to move to FLORDIA or any country U-wish>>before
the GREAT CONTEST>>>>>>>>>>>take's PLACE>>>>>>>>>BUTT
vote for O'BAMA>>>>>>>>>>>>>>TAKE CHANGE>in UR LIFE$$$$$
HELP AMERICA>>>>>>>>>>>>>>>PLEASE HELP the POOR people
vote for a DEMOCRAT>>>>>>>PLEASE>>>PLEASE!
LOL
PSYKOMO
And then...there are the lucky -- and there are the damn lucky! Imagine, being out of work, spending some of your tax refund, and hitting the jackpot. Life doesn't get any better than that, does it?
I thing the last part of your post is unfair. He did just lose his job. He may have had to go into credit card debt to feed his family. :(
Correct me if i'm wrong but I think the article also said he had an advisor and lawyer teamed up already. Sounds like he has a decent head on his shoulders. The only thing I would have done differently would have been to take an annuity.
Congrats to the guy. It is heartwarming to hear him say he would take care of those who helped him when he needed it most - his mother and mother-in-law. Here's wishes that he handles his winnings with intelligent decisions.
GamerMom - just curious, why would you have optioned the annuity? Just in this instance, or is it your preference?
Thank you gamermom for your commentary. The previous poster made an overgeneralized *ASSUMPTION* based on one part of the mans finance. Heaven forbid if that guy saw some of my finance. If I said I am 60k in debt most would shutter, yet maybe its from a mortgage, a car payment and a hospital bill for an ailing relative . ....all which get paid monthly as agreed ...yet its still a debt none the less....
ANyways the guy DOES have his head on right by saying he is helping those that helped him during his rough time. Bravo for him and I hope he enjoys his new found wealth! Ohh and congrats to the NY lottery for taking their chunk too! I'm sure they like being partnered with winners....
No, I think i would take the annuity for a piece of mind for long term security after I quit my job. I have a congenital heart defect, something called Tetrology of Fallot, and I don't think anyone would ever sell me medical coverage here in these United States where we are sooo lucky to not have universal medical care. I would need to ensure that I have money coming in for a long time in case i ever needed a heart valve or other major heart surgery.
Would you pick the lump sum and why? I'm always curious to hear another's POV on the subject :)
Well, if you're disturbed by taxes, you are perfectly free to move to the Congo, or Dafur, or Bosnia or Iraq.
I assure yoiu that evil "liberals" will not be able to collect taxes in those places.
Speaking of fools, suppose you were to win the lottery in your smug way, and then find that you are living in a country with no infrastructure.
It would seem to me given that conservative rule just piles up debt and debt and debt, causing the value of the dollar to fall by half, that conservatives are pretty good at squandering fortunes. They have taken the richest country in the world and made it into the world's most incredible debtor. In fact, if you won the lottery - which you won't - you would find that the value of your winnings would be reduced by half simply because of the dopey policies of a very, very, very, very, very short sighted credit card fixated President of the United States.
But it's not all a loss. Look what we got for it: Iraq.
I don't think they pay taxes there either. You are invited to go at any time.
Oh, sorry to hear about the heart problems GamerMom. My sister is a heart nurse in Dallas, or was - she's out of patient care and works in quality control. The heart is not something to take lightly. Good plan on your part.
For me, I don't have any such long term problems that would weigh one way or the other for my decision. I've kind of looked at both options, and I find that my investment guru could probably make as much annually on average with the lump sum as the annuity payments - even after you take the discounted jackpot and hand over gobs of it to both the state and the feds. All this is based upon what he has done for me so far - 1st quarter of 08 excluded although I fared better than others I know.
Oh dear - it's all Bush's fault. Yep - he made all those people buy too much house at subprime rates and forced them to take out multiple credit cards and charge them all up. But the Democrats will come to the rescue, increasing taxes for the evil rich families who make more than $250k. The Democrats will tax them until they have to lay off the families they employ in order to pay their taxes so that the government can take care of all of us. That'll work.
....Cuz the Obama Man can....oops, I mean the Candy Man can, cuz he mixes it with love and makes the world taste good....
Evil liberals, evil conservatives, evil rich white man, etc. Let's just keep dividing this great country until we all forget the truths behind the phrase "united we stand, divided we fall".
Enough politics.
Somtimes, I wonder. Is it because somebody out there that desperately need win lottery more than do? I that's why they win. Keep thinking of this idea makes me happy.
God is the Champion of using JIT System (just in time).
I'm so happy for these people.
I dunno about that considering how things turn out for a lot of winners such as David Edwards for an extreme example. Then there's always our good friend Jack Whitaker who was already a millionaire when he won the biggest US lottery (at the time) in history and recently nearly won again but "only" got the $10,000 prize. The thing that kind of bugs me about that is his story on how the lottery "ruined his life" or however it went, yet he still plays and nearly won another jackpot. I wonder if he donated it though he probably actually needs the money these days. It's just luck and some people just have it not matter what kind of person they are and some have their lucky moment and then follow through total ignorance (maybe arrogance too) and flat out stupidity.
It seems like for every one Brad Duke (is there even more than one? Though time will tell how much of a success he really is.) There's probably five David Edwards, Peter Kyles, William Post, Suzanne Mullins, Willie Hurts, Charles Riddle, Janite Lees or Evelyn Adams, who actually won twice.
He only spent 5 bucks and won $14 million ( Net $5 Million ) Goes to show you don't need to spend lots of money to win the lottery. Amazing story. Good luck to all Millionaire wannabees.
Wish I could be so lucky. I would love to finally retire for real.