Yes, it's a goodly sum of money; that's why I wrote "much", comparing his win against even the starting points of the two national lotteries. I know many folks won't play the lottery until it gets on "up there", 100+ million bucks. Wasn't it just a bit over a yr. ago when we were all fantasizing about winning $1.5 billion?
I think I enjoy his story so much because I identify with him in so many ways; I've been nearly as broke as he was at the time he won and we are both older guys who recently lost their parents. Anyway....events fell in his favor; a good friend who helped him collect his winnings, talking him into taking the annuity, helping him invest very simply and most esp. didn't take advantage of him as did those around Abraham Shakespeare, Billy Bob Harrell and many, many others.
Here's what I wrote about him in one of Music's prior posts about TLCML from a few yrs. back:
My fav. TLCML segment was the "Motel Millionaire", Jim Gatzke - he's the one who had lost his folks a few yrs. before, was unemployed, picked up cans to cash in and as I recall, spent some of his very last money on a lottery ticket. He was living in his folk's old run-down house w/ no utilities when he won 5.5 million. The state didn't want to pay him at first, claiming he might be mentally incompetent. He was lucky enough to have a good friend who helped him get the money from the state and then protect his new-found fortune from those who would take advantage of him (he opted for the annuity and didn't take risks with his money, putting most of his yearly check into a savings acct. paying very little interest) Other than a few cars & trips, he hadn't bought anything extravagant. He lived in the motel f/ about $250/wk and ate out every day, always buying an extra steak for the stray cats which lived in a junkyard next to his pal's business. Out of all the winners on the show, I think I'd most like to see a follow-up on him; it's made me think that, sure, winning the lottery could make you happy, but it really doesn't take all that much to keep you happy. No money worries, a good friend who sincerely cares about you, eat out when you want, some cats...and you don't even have to make your bed. Sounds good to me.
The original article in here was from 14 yrs. ago, so I guess it would be safe to say he's on the downhill side of his annuity.(I don't know for sure, but back then most annuities were for 25 yrs.) I once tried to estimate what his living expenses would be, the taxes he paid on $220k/yr gross and figured that he most likely didn't spend but about half of that amount ea. yr., but who knows? Anyway, it's a rare "feel good" story about a lottery winner. (not that there's NOT other stories similar to his, it's just that they're not sensationalized as are the "riches to rags" or murder/suicide or where the winner spends tens of thousands of dollars bailing her idiot drug dealing b/f outta jail.