turbolapp

Most people when they win the lotto are such idiots. In this article it's says the guys first and last name, where he lives, where he's going to live, where he wants to go to school and the name of his ex wife. Do you realize how many stalkers, nutjobs, con artists, criminals...etc will see this article? Plus at the end, the bit about giving 1 million to his workers that he usually buys the tickets with...that's just asking for trouble. I hope that he at least has the common sense to have a lawyer draw up a contract saying that the money is conditional based on that they never expect future monies. But based on his behavior already in this article I bet he won't. If I won the lotto the FIRST thing I would do (before I claimed the ticket) is go to a financial attorney and say, ok tell me what to do. (probably set up a trust to claim the ticket...blah blah) And what I would never do is let the press find out who I am, if at all possible!

LANSING, Mich. - David Sneath has worked at a Ford Motor Co. parts warehouse for 34 years, but it didn't take him any time at all to walk out once he discovered he had won a $136 million Mega Millions jackpot.

"I yelled to the boss, 'I'm out of here,'" Sneath said Thursday after going to state lottery headquarters in downtown Lansing to pick up his first $1 million check.
Sneath, of Livonia in suburban Detroit, said the reality of his win has yet to sink in.
"I still haven't touched base with Earth yet," he said. When he saw in a newspaper that he had a winning ticket, "my whole body went numb."
Sneath plans to buy a cottage on Mullett Lake in northern Michigan and maybe a new fishing boat or two to help him land the walleye he loves to catch. He's tired of misplacing his glasses and may get laser surgery to correct his vision. And he'll probably move out of his three-bedroom, two-bath ranch home, although he plans to stay in Michigan.
He's even considering a return to Eastern Michigan University to finish his bachelor's degree. He's eight credits shy of a major in warehousing and a minor in international marketing.
Sneath turned 60 on Tuesday, the day he won the jackpot. Friends and relatives at first thought it was an April Fool's joke.
"I called my sister; she didn't believe me. I called my daughter; she thought I was nuts," said Sneath, who said he made his first call to his ex-wife, Deborah.
Deborah, whom he called "my significant ex," attended the Thursday news conference where Sneath was presented with a large replica of a $136 million check. His daughter was there with her daughter, as was his son, who had bought the winning ticket on his father's behalf during trip to a gas station to get cigarettes.
Sneath plans to take a lump payment worth $84.3 million, or $59.6 million after taxes. On Thursday, he got the first $1 million; he'll get the remainder in a second payment. At the warehouse, he made $60,000 to $70,000 a year.
A self-described "character," Sneath generally kicked in $6 a week with four co-workers at his job in Brownstown to buy lottery tickets, spending half the money on tickets for Tuesday's draw and half for Friday's.
This time, his son bought him $15 worth of tickets, picking numbers Sneath suggested. The winning combination — 4, 17, 26, 46 and 56, plus 25 for the Mega Ball — were numbers Sneath once got as a random pick and continues to play.
But his four co-workers didn't entirely lose out. He plans to give them $1 million each out of his winnings.
Sneath said he doesn't have any big plans for the money, but noted none will go toward buying a big, new foreign car.
"I worked for Ford Motor Co.," he said. "I won't be buying a foreign product."
Sneath's $136 million jackpot may seem like a lot, but it doesn't even come close to the record. The largest Mega Millions jackpot was $390 million in March last year, given to two winners in Georgia and New Jersey.
Mega Millions is a multistate lottery game offered in Michigan, California, Georgia, Illinois, Maryland, Massachusetts, New Jersey, New York, Ohio, Texas, Virginia and Washington state. Jackpots start at a guaranteed $12 million and grow when no one wins the jackpot.

Armakuni

Lottery winners tend to lose all the winnings within a few years. If you want to get rich, work for it - lottery money is not going to make you happy or even rich in the long term.

Greenfire

I have to agree they would not like it but i would insist on remaining anonymous it be great my enemies wondering where i had gotten it from.

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ayzo

Maybe he did it on purpose?

He's out of a job now and needs something to do. Whats more exciting than having unknown family members beg for money, charities knocking on your door, crack heads trying to climb through your window, and the endless supply of retired hookers trying to grab your stash? It sounds like good times to me!

abhorrent

Not being "happy or even rich in the long term" would be a risk I'd be willing to take.

sampunk

exactly, having picture taken? that's the biggest mistake ever. Do something to your face if you need to take a picture. address and number is ok cause he will move soon anyway.

i read an article that many small lotto winner (less than 5 million) went bankcurpt within 5 years.
8 lottery winners who lost their millions - MSN Money
I believe most ppl who bought lotto are low educated blue collar worker (i read an article on how ads agencey target lower income ppl for lotto ads).
Everyone's a loser: how lottery ads entice the wrong people to gamble | Washington Monthly | Find Articles at BNET.com
Even the guy who won the biggest powerball went bankcurpt

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Supergeek

Anyone who gets that much money and then just loses it again is an idiot.

Like Turbolapp said she'd do, I would go to a reputable law firm and work all the transactions through them, including turning in the ticket. I would get counseling for every large gift, to maximize my tax sheltering and prevent problems with the recipients' taxes as well (ie, a portion of the gift would be for taxes, or the gift would be sheltered somehow).

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turbolapp

I would be extremely paranoid going to some lawyer (even if they're reputable) and telling him/her I won 136 million but not having cashed the lotto ticket first. I would definitely put it in a safe deposit box before seeing a lawyer. But I would still be all paranoid.

-Matt-

As sampunk said, mostly 'average joes' buy into the lottos. I for one would rather not waste my time buying the tickets with such a low chance of getting any money from it, and would prefer to do something that will make me money.

JohnCJackson

I only play the Powerball in Delaware, which allows anonymous winners. Many states do not allow it. I am not sure what their rules are if it's claimed in a trust or other entity though.

JohnCJackson

The article I read actually said he had no plans to "buy a new Ford car" and " I worked for Ford motor Co. I won't be buying a Ford product."

I am guessing yours is the corrected version, though either would make sense to me.

alexb

I won $51 with a $1 lottery ticket when I was 16 (lol, underaged). Haven't bought more than 5 tickets since.

If I won $136 million, I'd want to get rid of most of it as fast as I could. I'd put a chunk away for future expenses (house, kids and grandkids college, medical, etc), give a $500,000 check to each of my relatives (luckily, I'm from a very small family), and then use the rest to build a large solar power array (maybe start a little power company).

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John

somehow I doubt $136 million is going to get you very far starting a power company.

alexb

I meant at the local level. I've heard of some cities in Europe that have their own solar power companies.

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darbsllim

56 million in taxes...ridiculous

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HarveyJ

I got $2,000 on a $2 scratchy on my 14th birthday... My parents bought me a 486 with it (it was so sweet, what with it's tri-speed caddy mounted CDROM)

I figure if you win less than $10,000, buy yourself a gift, be it a donut and coffee on a $5, or a new car/computer/holiday at $10,000.
$10k-$500k, pay off your mortgage and student loans, and pump the rest into 401k/Super or stocks.
More than $500k, you'd be an idiot NOT to put it in a high interest account and just live off the interest, doing the occasional odd job just so ennui didn't set it.

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SkyFire

I agree, except that since I don't live in a trailer and drive a 92' neon, I could never win the lottery, much less play it.

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gopher

No. Just roughly $15m.

wisejoker

The Church of Gamblers. Many times more devout than religious people. They constantly pay contributions, visit their 'temple' consistently, and with a probability to win so low, I'd say their faith is extraordinarily high. Plus with the constant preaching of the word, they get lots of people into the discussion and earn new converts.

Giving money to church can be a challenge to a christian, but gamblers give cheerfully for lotteries and to casinos.

Remotay

Well, now that's what I call an A-Class idiot.
What's wrong with the world!

HarveyJ

Actually, does anyone live in Michigan?
I'm thinking keep an eye on Mullet Lake's "for sale" registry of land, and when a really expensive one goes, check it out. If it's him, in the middle of the night, put a life size Rick AStley cut out at his door, with a motion sensor in it, set to play if that front door opens...

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emp

Best advice ever came from a freind of mine (we were doing the usual what would you do with 40 million bucks, as that was the jackpot we heard about on the car radio. Neither of us plays the lotto, BTW)

He said:" Because I know how I am with money..First thing, I would buy a house or apartment and put everything into it I would like and need, a TV, nice kitchen, good computer, etc... I would always have that to fall back on, even if I would blow the rest and have to work again."

I asked him:"Well, cool, but what about some investments, too?"

To which he replied:"Yeah, that would be smart, but as I said, I know how I am with money."

::emp::

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turbolapp

I guess giving your money to both is a gamble. Personally, I think your odds are better at winning the lotto.

Unarmed Gunman

I live in Michigan - Detroit to be exact.

Highest Unemployment rate in the US
Highest Murder rate in the US
Highest Foreclosure rate in the US
Lowest high school graduation rate in the US

I could go on, but why bother.

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Unarmed Gunman

Oh yeah - and The Tigers are 0-7.

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