An elderly couple in New Jersey are new millionaires, after the most profitable mistake ever.
Dante Castillo usually picks his own numbers. But when a clerk at his favorite Manchester convenience store accidentally printed a computer-generated lottery ticket, the 70-year-old hit the big time, winning the $1 Million jackpot. Castillo and his wife chose a lump sum rather than the option for $1,000 a week for life.
What Would You Do?
At 70, the lump sum was likely the wise choice. The couple likely have kids, grandkids, friends, and loved ones who could use a little financial assistance.
Were I the lucky winner, however, I’d opt for the $1K a week for life. That’s $4K a month, roughly $50K a year for almost 20 years. I’d still work (on my own terms of course), and funnel the extra cash into savings, retirement fund, etc.
Not only is that way easier on the taxes, but your neighbors (and others) won’t be as likely to find out about your winnings, and hound you for a hand out.
by Sameh Hill