Welcome Guest [Log In] [Register]
Welcome to The New Coffee Room. We hope you enjoy your visit.


You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use. If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls. Registration is simple, fast, and completely free.


Join our community!


If you're already a member please log in to your account to access all of our features:

Username:   Password:
Add Reply
Cashier in debt finds $10, buys $1 million ticket
Topic Started: May 20 2007, 09:08 AM (193 Views)
musicasacra
Member Avatar
HOLY CARP!!!
Cashier Finds $10, Buys $1 Million Ticket
AP

NORTH CANTON, Ohio (May 20) - Kristina Schneider tried to persuade a customer at the BP station where she works to buy the last ticket on a roll of the Magnificent Millions lottery game.

"I always joke that the last ticket is the winning one, but he said he only had enough money for three tickets," Schneider said.

This time, her advice was no joke.

The single mother - with nine maxed out credit cards and $8,500 in debt for her associate's degree - bought what turned out to be a $1 million winning ticket with a $10 bill she found in the store Friday.

"I thought someone was playing a trick on me" when she found the sawbuck, she said.

After showing a customer that she did indeed have a winning ticket, she locked the store while she took a moment to be sick in the bathroom.

"I was numb. I still am," she said.

Schneider, 32, opted to take 20 yearly payments of $50,000, or $34,500 after taxes.

"If I'd have taken a lump sum, I'd be broke again within five years," she said.
Offline Profile Quote Post Goto Top
 
dolmansaxlil
Member Avatar
HOLY CARP!!!
And in other lottery related news, this guy lives in my tiny little town:

Forget flowers - make it $1 million

WHEATLEY - For his 35th wedding anniversary Ralph Trealout bypassed jewelry counters and flower shops and headed straight for the local gas station.

He stepped up to the counter at the Double Seven Gas and Car Wash in Leamington and bought a handful of lottery tickets.

Perhaps it wasn't the most romantic purchase, but Trealout's wife Mary Anne isn't complaining.

BETTER THAN DIAMONDS

"One million dollars, it's just so much better than a diamond necklace," CIBC Leamington branch manager Joe Oswald joked with Mary Anne.

The Trealouts could have been millionaires May 5, when the winning Encore numbers were announced, but Ralph waited until May 11 to check his tickets.

The first few he fed into the automated machine yielded more free tickets and a couple of dollars.

"And then the next one to come up it said, 'Sign it, you're a one, zero, zero, zero winner," Ralph said. "So I went up to the register and I asked her, 'Is that registering properly or is it malfunction?'"

It wasn't malfunctioning, the saleswoman assured him.

Ralph, who has worked as a shipper at Heinz for the past 34 years, drove to Mary Anne's workplace to break the news.

"He said, 'Do you want the good news or the bad news?'" Mary Anne recounted. "I know Heinz is in their contract stuff right now, I'll take the bad news now. 'I'm a millionaire,' and then he put his head down and started to cry."

The Trealouts splurged by spending $1,500 on a limousine rental to take them and their six children to Toronto in style. They also dropped about $500 on dinner at a Toronto steakhouse to commemorate the event.

They haven't made any major purchases since, but they're both toying with the idea of early retirement.

"I'm thinking to myself, 'Should I go to work and actually be cleaning the bathrooms when I don't think I really have to?'" Mary Anne said.

Ralph said he will likely retire this year, which is one year ahead of schedule.

He plans on investing most of the money, Ralph said, but only after he's completed his dream purchase.

"I'm going to buy an antique car," he said. "Either a Model T or something of that nature. The wife's thinking (a model from) the late '60s, when we were together, maybe a Charger or Barracuda, Firebird or Trans Am in that area, but I was thinking more older. We'll have to flip a coin."


http://www.canada.com/windsorstar/news/sto...9c32c82&k=52987
"Your first 10,000 photographs are your worst." ~ Henri Cartier-Bresson

My Flickr Photostream


Offline Profile Quote Post Goto Top
 
Horace
Member Avatar
HOLY CARP!!!
Quote:
 
Schneider, 32, opted to take 20 yearly payments of $50,000, or $34,500 after taxes.


1 million lump sum (assuming that is what the lump sum would be?) after taxes is maybe 600k, which can give you, conservativly, 40k/year in interest alone. Why would anybody take the installment plan?
As a good person, I implore you to do as I, a good person, do. Be good. Do NOT be bad. If you see bad, end bad. End it in yourself, and end it in others. By any means necessary, the good must conquer the bad. Good people know this. Do you know this? Are you good?
Online Profile Quote Post Goto Top
 
musicasacra
Member Avatar
HOLY CARP!!!
Horace
May 20 2007, 10:47 AM
Quote:
 
Schneider, 32, opted to take 20 yearly payments of $50,000, or $34,500 after taxes.


1 million lump sum (assuming that is what the lump sum would be?) after taxes is maybe 600k, which can give you, conservativly, 40k/year in interest alone. Why would anybody take the installment plan?

people who are serious spenders and not savers. she had maxed out her credit cards and had college debt -- probably a good choice for her if she knew she wouldn't be a disciplined saver.
Offline Profile Quote Post Goto Top
 
The 89th Key
Member Avatar

Wow - so she found 10 bucks and bought a lotto ticket...I wonder how she was ever so financially irresponsible! :rolleyes:
Offline Profile Quote Post Goto Top
 
ivorythumper
Member Avatar
I am so adjective that I verb nouns!
Horace
May 20 2007, 10:47 AM
Quote:
 
Schneider, 32, opted to take 20 yearly payments of $50,000, or $34,500 after taxes.


1 million lump sum (assuming that is what the lump sum would be?) after taxes is maybe 600k, which can give you, conservativly, 40k/year in interest alone. Why would anybody take the installment plan?

The lump sum is usually about 50% of the winnings. The "million" is over 20 years.

So $500K becomes $300K after taxes, which at conservative 8% is $24K/ year
The dogma lives loudly within me.
Offline Profile Quote Post Goto Top
 
David Burton
Senior Carp
$1,000,000 invested at 5% yields $50,000 and that’s before taxes. It’s not that much money.
Offline Profile Quote Post Goto Top
 
George K
Member Avatar
Finally
ivorythumper
May 20 2007, 04:54 PM
at conservative 8% is $24K/ year

You consider 8% "conservative?" My planning is on 6%. I'd love to find somewhere that 'guarantees' 8%!
A guide to GKSR: Click

"Now look here, you Baltic gas passer... "
- Mik, 6/14/08


Nothing is as effective as homeopathy.

I'd rather listen to an hour of Abba than an hour of The Beatles.
- Klaus, 4/29/18
Offline Profile Quote Post Goto Top
 
Red Rice
HOLY CARP!!!
George K
May 20 2007, 07:00 PM
You consider 8% "conservative?" My planning is on 6%. I'd love to find somewhere that 'guarantees' 8%!

Check out this:

https://flagship.vanguard.com/VGApp/hnw/Fun...&FundIntExt=INT

Insured, so it's extremely safe (Treasury quality). Over the long term, a yield close to 6%, but because it is tax-exempt, it's the equivalent of 8-9% depending on your tax bracket.
Civilisation, I vaguely realized then - and subsequent observation has confirmed the view - could not progress that way. It must have a greater guiding principle to survive. To treat it as a carcase off which each man tears as much as he can for himself, is to stand convicted a brute, fit for nothing better than a jungle existence, which is a death-struggle, leading nowhither. I did not believe that was the human destiny, for Man individually was sane and reasonable, only collectively a fool.

I hope the gunner of that Hun two-seater shot him clean, bullet to heart, and that his plane, on fire, fell like a meteor through the sky he loved. Since he had to end, I hope he ended so. But, oh, the waste! The loss!

- Cecil Lewis
Offline Profile Quote Post Goto Top
 
ivorythumper
Member Avatar
I am so adjective that I verb nouns!
George K
May 20 2007, 08:00 PM
ivorythumper
May 20 2007, 04:54 PM
at conservative 8% is $24K/ year

You consider 8% "conservative?" My planning is on 6%. I'd love to find somewhere that 'guarantees' 8%!

No guarantees in life, George. I was basing that on foundation money that is generally projected at 8% growth, conservative in that they are not typically able to go after high risk ventures which more easily yield double digit returns when concerning much larger amounts than I am able to assemble.
The dogma lives loudly within me.
Offline Profile Quote Post Goto Top
 
« Previous Topic · The New Coffee Room · Next Topic »
Add Reply