Monday, December 8, 2008
UPDATED: Winning Lotto Texas ticket worth $13 million purchased at Lewisville Fina Mart
Updated 12:31 p.m., December 21, 2008
LEWISVILLE — Someone in Lewisville won the Lotto Texas lottery on Saturday for $13 million. A ticket was purchased at a Fina Mart at 1890 S. Old Orchard Lane in Lewisville with the numbers 11-13-49-18-26-6. The winner picked those numbers, rather than having them generated randomly by a computer, and chose to have the pay-out made in annual payments of about $390,000 after taxes for the next 25 years. This is nice: Sang Kim, owner of the Fina Mart, gets 1 percent of the earnings.
UPDATE: And the winner is Lewisville assistant police chief Joni Eddy, who was quoted in a statement as saying that, "The last two weeks have been crazy. I haven't slept much, and there's been a great deal of paperwork to do so I could claim this prize." She plans on continuing to work at the police department but is going to buy a new SUV.
Posted by T.G.
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Collin Gouldin says:
Wonder how much longer they'll be a Lewisville resident.
Verified
11 months, 3 weeks agoLink to this comment | Suggest removal
Scott Doyle says:
Purchased there doesn't necessarily mean they live there, you strawberry-dipping fiend.
Verified
11 months, 3 weeks agoLink to this comment | Suggest removal
Alex Bentley says:
Come on, everybody knows you ALWAYS take the lump sum!
Staff
11 months, 3 weeks agoLink to this comment | Suggest removal
LadyKDA says:
Congrats to the winner - that is 'around the corner' from me (darn it). But I agree with Alex, $13 million is not enough to take the 25-year annuity payments, with taxes and all. I'd have done the lump sum, too...
Anonymous
11 months, 3 weeks agoLink to this comment | Suggest removal
ch0 says:
Meh, it's still a doctor's salary for the next quarter-century. Could be worse!
Anonymous
11 months, 3 weeks agoLink to this comment | Suggest removal
Collin Gouldin says:
no you don't have to be sco-do ... but i don't think you shop at THAT fina just for the fun of it... it's not really in a busy part of the town.
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11 months, 3 weeks agoLink to this comment | Suggest removal
Scott Doyle says:
Even if they took a 35% hit on the lump sum, slapping the remaining $8.45MM ($13MM x .65) into bonds or something equally safe would yield enough to live on.
I'm sure I'd take a mil out to play around with, but $7.45MM at a 4% APR is still $298,000 a year. Don't cash out for a year and a day, take the long-term capital gains tax of 15%...still net roughly a quarter mil.
Obv I'm not a financial adviser or anything, just sayin'. Wonder what the advantage is in spreading it out over 25 yrs...guess it depends on how much you can itemize, etc. Methinks you could net much more in interest on the lump sum over 25 yrs than potential tax savings, plus you've got a pot of gold at your disposal should you become terminally ill or simply get a wild hair. =p
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11 months, 3 weeks agoLink to this comment | Suggest removal
Scott Doyle says:
Btw, if I were the lottery, I'd certainly pay off a few "advisers" to push people towards annual payments so I could bank the interest myself. =p I see what they did there.
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11 months, 3 weeks agoLink to this comment | Suggest removal
Jason Rice says:
When I ever play, I admit my lack of patience outright and go "single payment." If I were patient, I'd already be rich. Right?
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11 months, 3 weeks agoLink to this comment | Suggest removal
jtmbls says:
What happens if the winner dies? Do they just stop paying? Seems like if you don't take the cash option, your heirs would be screwed.
Anonymous
11 months, 3 weeks agoLink to this comment | Suggest removal
Collin Gouldin says:
i really don't think they people who play the lotto are usually the money savvy type...
Verified
11 months, 3 weeks agoLink to this comment | Suggest removal
Scott Doyle says:
Can't believe there's not a I TOLD YOU SO already.
I lolled about the SUV, then died a little inside. Maybe we'll get lucky and she'll test out the <a href="http://www.nytimes.com/2008/11/16/automobiles/autoreviews/16AUTO.html">Escalade hybrid</a>?
Also, you're doing it wrong by telling people imo.
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11 months, 1 week agoLink to this comment | Suggest removal
Collin Gouldin says:
and i stick by my last statement ...
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11 months, 1 week agoLink to this comment | Suggest removal