Person comes forward to claim $1.3 billion Powerball jackpot in Oregon
Person comes forward to claim $1.3 billion Powerball jackpot in Oregon
Oregon officials say a person with a ticket matching all six Powerball numbers in Saturday’s $1.3 billion jackpot has come forward to claim the prize.
A person with a ticket matching all six Powerball numbers in Saturday’s $1.3 billion jackpot came forward Monday to claim the prize, Oregon officials said.
The lottery ticket was purchased at a Plaid Pantry convenience store in the northeast part of the city, Oregon Lottery said in a statement.
Oregon Lottery is working with the person in a process that involves security measures and vetting that will take time before a winner is announced.
“This is an unprecedented jackpot win for Oregon Lottery,” Oregon Lottery Director Mike Wells said in the statement. “We’re taking every precaution to verify the winner before awarding the prize money.”
I think that's actually a pretty bad sign for the person that won, to show up the first day possible to claim it. It seems like it would be much more prudent to get some legal and financial advice beforehand. Like if I won I have zero idea how to handle that kind of money on even the most basic logistical level. Hopefully it doesn't ruin their life.
51There is a lot of evidence to show that lottery winners have no idea how to handle that kind of money and don't seek advice about it.
This person hanged themselves after blowing through all of their lottery money- https://www.theglobeandmail.com/news/national/lottery-winner-hangs-self-7-years-after-collecting-win/article4121212/
This person defaulted on a loan because they wanted more than the annual amount but didn't opt for the lump sum and ended up in massive debt- http://usatoday30.usatoday.com/news/offbeat/2004-05-03-lottery-winner_x.htm
This guy ended up working at his old McDonalds job a year later- http://www.telegraph.co.uk/news/uknews/1582719/Lottery-millionaire-back-working-at-McDonalds.html
Here's many more stores- https://www.gobankingrates.com/net-worth/bankruptcy/lottery-winners-who-lost-millions/
The lottery is a tax on the poor, who are sold the hardest on it. Players have virtually no chance of winning, meaning that most of the people who play have a basic lack of understanding of how to manage their money.
34The perception is wildly skewed here because you never hear from the ones who use the money responsibly to buy a home, settle debt, etc. and just live an easier life. Sure, winning the lottery should not be your only option to ever achieve anything. I just don't think that lottery winners in general have a huge problem.
27
The fundamental issue with winning the lottery is that nobody who understands personal finance enough to handle winning would ever waste money playing the lottery. The most likely winners are people who buy lots of lottery tickets, and those people are the least prepared to handle winning.
It's hard to imagine burning through $1.3B, but after taxes it'll only be about $400M. All it takes is a huge mansion, a mega yacht, and a high end private plane to put yourself into a significant financial tailspin from the costs of maintenance, taxes, staffing, and energy.
By the time you realize what poor decisions you've made, getting out of it can be impossible. The yes-men who sold you all your luxuries have probably convinced you to dump your money on plenty of other endeavors designed specifically to separate you from your winnings.
The one percenters only get away with their extravagant lifestyles because they understand how to exploit the system to their advantage, and they can keep up the expenses by amassing more wealth.
Not to mention, if you already have a gambling problem, as many lottery players do, the thrill of winning and access to that kind of cash is likely to motivate you to gamble millions more looking for the next dopamine dump.
That this person claimed the prize so quickly absolutely is a bad sign for their future. If they try to do it their way, they will get conned out of everything within a decade, and their return to poverty will be crushing.
15The fundamental issue with winning the lottery is that nobody who understands personal finance enough to handle winning would ever waste money playing the lottery.
It's hard to imagine burning through $1.3B, but after taxes it'll only be about $400M.
I don't think you understand personal finance. No one in America pays a 70% effective tax rate. How did you end up at $400M??
3All it takes is a huge mansion, a mega yacht, and a high end private plane to put yourself into a significant financial tailspin from the costs of maintenance, taxes, staffing, and energy.
Imagine getting that kind of life-changing sum of money and immediately blowing it on what is probably literally the top 3 highest maintenance luxury items in the world instead of keeping a good portion of it in some index fund and live comfortably for the rest of your life.
I know some people actually do this but seeing it broken down like that makes it even more baffling
1
Why would waiting be more financially prudent? You can get financial advice before or after you show them the ticket, might as well get that process started.
11Because before you receive your money they give you a bunch of paperwork to sign as well as how you want to break appart the money you receive and you want to be 100% sure what to say and what to agree too in order not to be legally scamed out of your winnings. Then once you receive the money you will already have the necessary accounts setup in order to not only store said cash but to basically live off the interests for the rest of your life as well as pay the irs their dues.
4
I was hoping they use the money for good. But looks like they are stupid and going come out and blow the money stupidly. Goddamm I just feel it all rigged.
6
5 years untill they are broke, I bet one upvote!
27Big jackpot winners like this rarely go broke. The ones you hear about won much less.
19But they are some astronomical amount more likey to die.
Like 200x more likely if you win a jackpot
13If M. C. Hammer can go broke, a lottery winner can.
8
Do you win if they die? Because solid chance they are killed by someone else or drugs.
12Good point, I'd call that a tie, since if they die before going broke the money would be inherited by someone, someone who possibly learned a thing or two by how the guy spent the money.
7
Half of lottery winners lose it all in less than a year, let's hope this isn't one of them
-7That's a misbelief, most lottery winner do just fine long after winning. We just only hear about the ones who go broke because that's report worthy.
And it's almost impossible to go broke with winning 1 billion. Even if you are only left with "only" 500 mil after taxes, and you manage to lose 99% of that, you are still left with 5 million. Which is still enough to have a comfortable life.
30
The most important thing about having a lot of money it's knowing how money works, that's why what easy comes easy goes.
10Uh huh. I guess that's why most people who inherited their parent's money are all living on the street now.
4“I’m just so happy that finally Oregon won the big jackpot because it’s always on the East Coast,” Musser said. “Now that Oregon won it ... there’s more hope for Oregon. Maybe we’ll win it again.”
I wonder if there's any truth to this or it's just confirmation bias on her part. It says just before that the largest Powerball jackpot ever was won in California...
2Parents normally should educate their children, what unfournetly goes dramatically decreasing.
1