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Thread: Toothless Checkout Clerk Wins $258 Million Powerball Jackpot

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    Default Toothless Checkout Clerk Wins $258 Million Powerball Jackpot

    http://www.foxnews.com/us/2010/04/23...rball-jackpot/



    JEFFERSON CITY, Mo. — A Missouri man who won a $258 million Powerball jackpot and plans to use some of the money to pay bills and take his children to Disney World says he hasn't decided yet if he'll quit his job at the convenience store where he bought the winning ticket.

    Chris Shaw — a 29-year-old tattooed father of three who was raised by his grandparents in rural southern Missouri — came forward Thursday as the winner of the 10th-largest Powerball jackpot ever.

    Shaw said he had just $28.96 in his bank account and recently bought a 1998 Ford Ranger from a friend who agreed to let him pay off the $1,000 price $100 at a time. Now, he said, he no longer has to worry about how he'll pay his friend — or his utility bills.

    "We didn't come from money. For us it's just going to be a huge relief to know I'm going to be able to pay my electric bill, my gas bill," Shaw told the Associated Press. "It's like a weight lifted. I had bills at home I didn't know how they were going to be paid."

    Shaw said he bought the $5 ticket Wednesday at the Break Time convenience store where he works in Marshall, a central Missouri town about 80 miles east of Kansas City. He accepted his ceremonial check at the Missouri Lottery headquarters in Jefferson City wearing a tan and red plaid shirt, a red hat and a huge grin — minus two front teeth he says he lost because he didn't take care of them but can now afford to have replaced.

    "I'm just a regular guy working paycheck to paycheck ... well not any more," he said.

    Shaw said he needed a few days to decide whether he will keep his minimum-wage job at the store where he has worked for just three weeks. He also plans to seek advice "from people who know about money" about whether to take the jackpot in 30 payments over 29 years or the lump-sum amount of $124,875,122.

    His boss, Jackie Maxwell, general manager of the Missouri-based Break Time convenience store chain, was thrilled to hear Shaw had won.

    "He's just a great guy, a good employee. When you think of a large winner like this, everyone likes to see that the person who won is somebody like Chris," she said in a telephone interview with The Associated Press.

    Shaw — who has a 10-year-old son, a 7-year-old girl and a 5-year-old girl by two different women — said he had played Missouri Scratchers lottery tickets before, winning at most $80. He checked his Powerball ticket against the state lottery's website only after his girlfriend, Tosha Ewry, told him the winning ticket was bought at the store where he works.

    When Shaw called Ewry back to tell her the news, she thought he was joking, he said. Finally, he said he told her: "I swear on a stack of Bibles, you need to leave work and come home."

    The winning numbers were 11-34-41-49-55, Powerball 20. The Power Play number was 2.

    Shaw said he looks forward to spending more time with his kids, who live with their mothers about 240 miles southeast of him in his hometown of Alton, as well as with his girlfriend's two sons — 13-year-old and 15-year-old boys Shaw says he considers his own. He plans to take them all to Disney World in Florida.

    "I can be with them as much as I want now," Shaw said.

    He said his children already have been asking for new skateboards, bicycles and "just stuff that's really hard to do when you make $7.25 an hour."

    Break Time will receive $50,000 for selling the winning ticket. If Shaw takes a lump-sum payment
    , the state income taxes due on the winnings would be about $6 million, state budget director Linda Luebbering said.


    wow. what luck!
    Destroying anti-US trolls and idiots like broken_legs since 2009.
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    jesus that's a lot of money.

    can someone clarify how this works? he can either take 258 million in 30 payments over 29 years or take half ($124,875,122) right now??! if thats the case then i don't know what he's gotta think about... he's getting twice as much over 29 years. you would have to be a fucking retard to take the lump sum.

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    They should do a reality show on winners like this. I'd be interested to see how they handle the money and where they are like 5-10 years after winning money like this. I understand a lot of them just blow it and end back in the same situation they were before.
    freshprince
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    Originally posted by freshprince1
    They should do a reality show on winners like this. I'd be interested to see how they handle the money and where they are like 5-10 years after winning money like this. I understand a lot of them just blow it and end back in the same situation they were before.
    Believe it or not, there is a reality show covering these people... Dont remember what its called, just ran into it flipping through channels once, but its out there.

    Everyones like "Yea, the money hasn't changed me, im still living like a working class citizen like i was, not cocky or anything"
    *Yet theyre driving a gallardo as their daily driver, living in a mansion with a private butler, sipping grade A vodka on their back porch looking at their ocean front view (In Arizona )

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    nm
    Last edited by e36bmw///; 03-05-2018 at 12:26 PM.

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    Originally posted by CMW403


    jesus that's a lot of money.

    can someone clarify how this works? he can either take 258 million in 30 payments over 29 years or take half ($124,875,122) right now??! if thats the case then i don't know what he's gotta think about... he's getting twice as much over 29 years. you would have to be a fucking retard to take the lump sum.
    It's time value of money. ie. A dollar tomorrow isn't worth as much as a dollar today.

    If you take the lump sum, you have a bigger investment opportunity.

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    Originally posted by freshprince1
    They should do a reality show on winners like this. I'd be interested to see how they handle the money and where they are like 5-10 years after winning money like this. I understand a lot of them just blow it and end back in the same situation they were before.
    alot of people don't know how the handle the money, having no idea how deal with it before obviously, they dude was living pay check to pay check. There's been many times when people will end up worse then before.
    I hope he finds that advise he seeks haha.

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    Originally posted by icetraycnb


    It's time value of money. ie. A dollar tomorrow isn't worth as much as a dollar today.

    If you take the lump sum, you have a bigger investment opportunity.
    Werd if you throw the lump-sum into a 5% compounding interest investment, you would have somewhere near 500mil in 29 years

    Holy shit that's a lot of money!!!

    How would you spend it all? I can see myself going through maybe 25-30 million but the rest looks hard to spend.

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    Originally posted by freshprince1
    They should do a reality show on winners like this.
    "Lottery Changed My Life" usually on TLC!

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    "Two chicks at the same time, man."

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    ^^hahahah i was thinking the same thing
    Originally posted by Modelexis
    If I have questions about my phone bill, I don't post it on beyond, I call telus.
    Originally posted by D911
    worst part is definitely when the dudes smacking it with his dick like that inside out anus owes his dick some money.
    the crap you find when you dig through ask leo

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    I also heard that in the USA, you are taxed on prizes. If you win a new car, you're taxed. If you win money, you're taxed. Sigh.

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    Originally posted by CMW403


    jesus that's a lot of money.

    can someone clarify how this works? he can either take 258 million in 30 payments over 29 years or take half ($124,875,122) right now??! if thats the case then i don't know what he's gotta think about... he's getting twice as much over 29 years. you would have to be a fucking retard to take the lump sum.
    Lottery winnings in the states are taxed just like income. If he takes the payment all at once, his share AFTER TAX is $124,875,122. If he does the payment he is still taxed on each annual payment. He'd most likely end up will the same money either way however it's possible that in any given year down the road he may have enough tax credits (business losses or whatever) to lower his amout of tax owed on that payment.
    "Masked Bandit is a gateway drug for frugal spending." - Unknown303

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    So he's leaving behind him a wake of derelect children and unpaid bills, but figures it's a great idea to spend 2 hours wages every week on the fucking lottery?

    How about you buy your kids some fucking shoes instead?

    Shit like this just makes a thousand other toothless losers think it's a good idea to keep spending money on the goddamned lottery instead of taking care of their shit.




    The reason, I suspect, that so many lottery winners end up broke again is because if you're playing the lottery when you're a brokeass, odds are pretty good that you don't know shit about money. Hookers and blow generally offer a better return on investment.
    Founding member of the Leave-Me-Alone-atarian party of Canada.

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    Originally posted by TKRIS
    So he's leaving behind him a wake of derelect children and unpaid bills, but figures it's a great idea to spend 2 hours wages every week on the fucking lottery?

    How about you buy your kids some fucking shoes instead?

    Shit like this just makes a thousand other toothless losers think it's a good idea to keep spending money on the goddamned lottery instead of taking care of their shit.




    The reason, I suspect, that so many lottery winners end up broke again is because if you're playing the lottery when you're a brokeass, odds are pretty good that you don't know shit about money. Hookers and blow generally offer a better return on investment.
    I completely agree with you on that, but he did win.

    I just bet the IRS is going to rip this guy to pieces every year come tax time, because even if he's instructed, I doubt the guy will realize he has to pay income tax on the interest he's earning... or if someone convinces him to invest it, the income tax on any gains there.

    Doesn't really fucking matter though, he's got 100 million. I'd take the lump sum in the event I passed away sooner than later.

    Originally posted by teamPRO


    howbout suck my black kettle...

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    Originally posted by freshprince1
    They should do a reality show on winners like this. I'd be interested to see how they handle the money and where they are like 5-10 years after winning money like this. I understand a lot of them just blow it and end back in the same situation they were before.
    There was a book written on this after numerous years of study. I don't remember the exact percent, but I believe it was around 40-50% of people who within 10 years of winning had no money left.

    Obviously a large part of it is bankroll management, but the other huge part is that once you have a large amount of money, you don't have to work... you don't have to do anything and alot of the people become drug/alcohol addicts and literally give away the money.

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    Originally posted by project240


    bankroll management
    at the use of poker terminology .

    But as has been said earlier, I think his type (paycheque-to-paycheque kinda guy) accounts for the largest demographic that plays the lottery -- if you already knew enough about managing money you'd probably realize that the lottery is a poor, negative expected value investment. Arguably given their situation it might be the only way out of the cycle, despite the long (and I mean LONG) odds of doing so through winning the jackpot.

    EDIT: I like the idea about a documentary covering winners of these huge lotteries (from right after they've won it until several years later, documenting their spending habits and whatnot). I guess a dilemma that might come up is how do you compensate somebody who has just won an obscene amount of money? "We're going to pay you $500,000 to follow you around with a camera for the next few years?" I guess that can be avoided by following lottery winners after they've gone broke, but then you don't get to see all of the splurges in action (which would be a key selling point for me).
    Last edited by Gainsbarre; 04-23-2010 at 01:56 PM.

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    Read somewhere awhile back that the Powerball Lottery in the states has the highest suicide rate of winners, they reasoned it to them never having money, so they don't understand the need to manage their spending. So they blow through it real quick, gifts to friends/family, dumb purchases and the always great lawsuits.

    They end up broke with no friends so they have a little buckshot breakfast.

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    Holy fuck... there were two separate women who were willing to let that degenerate fuck knock them up? A guy whose two front teeth have rotted out? And he's already popped out 3 redneck-juniors?

    There's no hope for the world... the poor and stupid will outbreed the wealthy and educated.

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    giving anyone $124 million dollars is a recipe for Fail. You don't know how to handle that money, and you can just spend it constantly day after day. You have to constantly manage your money, invest it, which if done properly, is a full time job on its own.
    Destroying anti-US trolls and idiots like broken_legs since 2009.
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