What Mega Millions Winners Should Do
April 2, 2012 by staff
What Mega Millions Winners Should Do, Three winners of the record-breaking U.S. lottery jackpot now face a series of daunting decisions about how to handle their share of the $656 million prize. Tickets sold in Kansas, Illinois and Maryland matched all six numbers in Friday’s Mega Millions drawing. None of the winners had come forward as of Sunday evening.
Advisers say jackpot winners should take a “cooling off” period of three to six months. During that time, they should avoid making any big decisions about their investments or spending.
“People need time to adjust to this huge change in their lives,” said Michael Garrison, of Garrison Financial Inc., in Chatham, Mass. “The fear is that people get this lump sum and go crazy,” he said.
One winning ticket was purchased at the Motomart in Red Bud, Ill., a town of 3,700 an hour south of St. Louis. “I was as excited as if I won,” said Darla Beckette, the assistant manager who dealt with “gobs of reporters and gobs of TV people” all weekend. “There even was a couple from St. Louis who said they just had to come check it out.” The Motomart owners will receive $500,000, based on that state’s lottery rules.
Another winning ticket was sold at a 7-Eleven in Milford Mill, Md., just outside Baltimore, less than four hours before the Friday night drawing. The couple that owns the store will receive a $100,000 bonus. The Kansas Lottery would say only that its winning ticket was purchased in the state’s northeast.
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