just a fwiw, i was at a bar sunday night...

HuskerFan1 · May 1, 2007

in fan hall boston with 6 of my friends...3 of them left so it was down to 4 of us...one of my best friends (seriously BEST friends i sleep on his couch on the weekends when we go out boozing and im too drunk to drive home LOL) goes n buys a $5 scratch ticket and hits for a million dollars :money8: ...he scratched it...slide it over to me so nonchalantly and goes "adam your my new best friend" LOL...i had a million dollar ticket in my hands LOL

what so ridiculous is it was really like a billion to 1 that we would even be at this place on sunday and all the little circumstances surrounding how it played out etc...but ALL the stars were aligned and he hit...

he's a really good kid 29/single/college degree/good job but was loaded with debt...not anymore LOL

he's taking the 7 of us out to a REALLY REALLY nice dinner friday night...saturday is cinco de mayo so that should be fun too...

just thought id share...

Timetopay · May 1, 2007

Congrats Mr.Newlywed!!!

joeyfitzclick · May 1, 2007

Mr Newleywed ?

joeyfitzclick · May 1, 2007

Damn you Timetopay.

ToddInVegas · May 1, 2007

He won a million dollars and he's taking you to a really nice dinner Friday? That really is a best friend. If I promise to put him in my list of top 5 All-Time Super Buddies do you think he would spring for a Pizza Hut Lunch Buffet for me?

oldirtyku · May 1, 2007

Nice hit...

slick69 · May 1, 2007

ToddInVegas said:
ToddInVegas said:

He won a million dollars and he's taking you to a really nice dinner Friday? That really is a best friend. If I promise to put him in my list of top 5 All-Time Super Buddies do you think he would spring for a Pizza Hut Lunch Buffet for me?

Click to expand...

That would be the only tiny nuisance if you were young, not married, and hit it a nice score like that. Your buddies would expect you to hook them up big time. He will probably get about $600,000 after taxes. That will pay off his debt and get him a nice condo in Boston, with nice furniture, TV's etc. But he can't support an entourage.

ToddInVegas · May 1, 2007

slick69 said:
That would be the only tiny nuisance if you were young, not married, and hit it a nice score like that. Your buddies would expect you to hook them up big time. He will probably get about $600,000 after taxes. That will pay off his debt and get him a nice condo in Boston, with nice furniture, TV's etc. But he can't support an entourage.

True but he could pay for the boys to fly out to Vegas for the weekend and pick up the tab for the hotel. At the most we're talking 5 grand. Not a lot considering last week the guy had 12 cents, 2 old bottle caps and a big piece of lint in his pockets.

HuskerFan1 · May 1, 2007

well said SLICK...

he got 35k after taxes yesterday...he gave around 10k to family (i know he is close to his family and that a good thing) bc of misc issues and 20k to bills (like i said he had 15k on 1 credit card that i knew of) and he still owes on student loans...he called me last night and i asked him how much he spent and he said he had around 5k left...the dinner fri will be around 2k im guessing...that 1st check is gone and he was SMART to spend it on what he did instead of being stupid...

i knew the 1st year the check would be gonzo and it is...i honestly dont want anything from him...im sure over time he will pick up his fair share of bar tabs and quite honestly thats about all i would want being a friend...bc id do the same if the roles were reversed...

like someone else said its a million on paper BEFORE taxes...the thing is you cant take a lump sum so now the only thing he has to let run its course is TIME...its 35k a year now for the next 19years....

fwiw i am going with him to cali in 2month to visit some of our friends out there...we planned it months ago and we are going to SD for the weekend and i told him after he won..."your paying for the hotel in SD and dont ask me for a dime" LOL....that will be a FUN 8day vaca....

slick69 · May 1, 2007

ToddInVegas said:
True but he could pay for the boys to fly out to Vegas for the weekend and pick up the tab for the hotel. At the most we're talking 5 grand. Not a lot considering last week the guy had 12 cents, 2 old bottle caps and a big piece of lint in his pockets.

I was gonna say he oughtta take 5 or 6 of his best friends on a ballsy weekend vacation to Miami or something. Drop 5-10k. Vegas may be a bit too much, and could end up costing his buddies a lot of money.

slick69 · May 1, 2007

Why the hell didn't he take the lump sum?

Labeeb · May 1, 2007

slick69 said:
Why the hell didn't he take the lump sum?

I think that HF stated there was no lump sum option. Those scratch off deals are pretty much always annuities.

HuskerFan1 · May 1, 2007

it was a scratch ticket and you CANT take a lump sum its 50k X20 before taxes...thats what im saying its a great great great hit but its not something he will realize until years go by...all that talk of blowing 10k in vegas on the guys etc is really blown way outta proportion...he had a lot of bills and he really cleared up his life yesterday....down the road im sure he will probably treat to a crazy vacaton...but if it was me ida done the same thing he did....

he showed me his CC statement last month the min payment was 300 a month and 140 went to interest...you cant fault the guy for cutting a check to get that outta his life....

levistep · May 1, 2007

Can't believe they call it $1,000,000 when it's paid out over 20 years. Using a modest interest rate of 6% and it ends up being $400k present value.

ToddInVegas · May 1, 2007

Didnt realize it was an annuity. Where I'm from a million dollar win is a million on the spot, no taxes, no annual payments. So when you put it that way I guess the Pizza Hut Lunch buffet is more realistic after all

slick69 · May 2, 2007

I live in MA and never knew you couldn't take a lump sum on a mil scratch ticket. That sucks. Inflation will just eat that 35k up down the road. Still a nice hit though.

Illini · May 2, 2007

That is an awesome hit. He will still have to work, but his future is set. Max the hell out of 401K, Roth IRA, and get an overfunded variable life policy. Game over if he does that.

copacabana · May 2, 2007

Congrats to the guy, but if he's in debt and struggling financially why would he waste $5 on the worst bet in the world?

GreenDoberman · May 2, 2007

I just hope he doesn't fall back into that debt trap. Sounds like he was already overspending his means, hope he doesn't think this will make it OK still.

barman · May 2, 2007

Yep...By doing it in an annuity fashion, the state actually doesn't have to pay a dime.

Non-winning ticket sales quickly set up the $1million and then all they have to do is invest it in a 5% annuity to pay the one winner.

Of course it will be invested in something a bit higher, so at the end of the 20 years, dude will have his dough and the state will still have their million plus some more with the added percentage interest.

I for one would never take a lump sum if I won the FL Lottery which we play for $10 each week.

If I took the bulk million, I could just see me....

"Go to Vegas for a week and take some friends...."

yeah sure....

That's what I'd do all right....

And about 73 days later I'd wake up lying on some torn up giant bed in a suite at the Bellagio with empty alcohol bottles, traces of coke on all the glass topped furniture, strippers' panties scattered from the front of the suite to the balcony......