$149M Lottery Winner Had 78 Cents in Bank

[ducks]

NEW YORK - With just 78 cents in his savings account and $44,000 owed to creditors, parking attendant Juan Rodriguez plunked down $1 on a lottery ticket. Good thing he wasn't pinching pennies: He won a $149 million lottery jackpot.


Rodriguez, 49, of Queens, bought his Mega Millions lottery ticket about one month after filing for bankruptcy.


He stepped forward over the weekend to claim his prize, proving to be a man of many dollars but few words. At a news conference, he wore dark glasses and said he was "excited." Asked what he planned to do with his millions, he said, "I have no idea."


According to court papers, Rodriguez had exactly 78 cents in his savings account and nothing in his checking account. He owed $19,486 on one credit card and $10,070 on another. And he owed the Internal Revenue Service (news - web sites) $2,279.


Rodriguez bought his ticket in the middle of a double shift at his $28,000-a-year job as a parking garage attendant. He immigrated to the United States from Colombia in 1982.


There was one clue that Rodriguez wanted his cash fast: He opted for a lump-sum payment of $88.5 million instead of 26 annual installments.

[bigzak25]

hopfully he's learned his lessons and won't blow it all.

[Kori Ellis]

That's awesome! Good for him.

[Useruser666]

Previous balance:_____$0.78
Deposit:_____________$149,000,000.00
New Balance:_________$149,000,000.78

[Manu20]

He is one lucky guy.

[Shelly]

hopfully he's learned his lessons and won't blow it all.

I was thinking the same thing. Obviously, he doesn't have good cash management skills to begin with.

I remember when CA first started the lottery. This one guy who was 21 won (I can remember how much), but ended up having to get a job until his next payment because he blew all his money buying his friends stuff and paying for everything.

[Kori Ellis]

I was thinking the same thing. Obviously, he doesn't have good cash management skills to begin with.

Just because someone is in debt, doesn't necessarily mean they have bad cash management skills. Sometimes when you don't make that much money, you can find yourself in a hard place (i.e. with major hospital bills and no insurance) and then you start living on credit. Once you do that, especially if you have a family to feed, it's difficult to get back on track. Sure, a lot of people are just bad with money. But it's a big assumption to think that everyone in debt is because they are bad money managers.

[ZStomp]

Previous balance:_____$0.78
Deposit:_____________$149,000,000.00
New Balance:_________$149,000,000.78


You forgot .....the taxes.

The Government needs their share u know!

[SpursWoman]

At $28,000 in NY, I can't imagine he'd have a lot of cash to manage.


That's awesome for him! [/envious]

:)



Previous balance:_____$0.78
Deposit:_____________$149,000,000.00
New Balance:_________$149,000,000.78

:lol :lol

[2pac]

From 149M, he will probably clear around $35Million this year, after factoring in federal, state and NYC taxes.

[Shelly]

Just because someone is in debt, doesn't necessarily mean they have bad cash management skills. Sometimes when you don't make that much money, you can find yourself in a hard place (i.e. with major hospital bills and no insurance) and then you start living on credit. Once you do that, especially if you have a family to feed, it's difficult to get back on track. Sure, a lot of people are just bad with money. But it's a big assumption to think that everyone in debt is because they are bad money managers.

Yes, I am well aware of that. But there are also a lot of people that when they get a ton of money, will blow right through it regardless what their situation is. Perfect example is MC Hammer.

Money does strange things to people.

[Useruser666]

Yes, I am well aware of that. But there are also a lot of people that when they get a ton of money, will blow right through it regardless what their situation is. Perfect example is MC Hammer.

Money does strange things to people.

http://www.subvulture.com/archive/mc_hammer_black_history.gif

[Solid D]

You guys with your calculations forgot to read the article all the way to the bottom.

He opted for a lump-sum payment of $88.5 million instead of 26 annual installments.

[Shelly]

Winner of $149M Lottery Faces Divorce

link (http://cnn.aimtoday.cnn.com/news/story.jsp?floc=FF-APO-1110&idq=/ff/story/0001%2F20041204%2F1612559933.htm&sc=1110&photoid=20041121NYJM104)

NEW YORK (AP) - Money - not even $149 million - can't buy you love. Juan Rodriguez, who collected the huge windfall in the Mega Millions lottery last month, is now on the outs with his wife, the New York Post reported Saturday. Iris Rodriguez wants a divorce from her husband of 17 years, and she filed the paperwork just 10 days after Juan bought the winning ticket on Nov. 19.

Iris Rodriguez is seeking a portion of her husband's huge lottery check, the Post said. Rodriguez, 49, opted to take his winnings in a single lump-sum payment of $88.5 million before taxes.

Although the couple appeared together at a news conference after Rodriguez matched the winning numbers, his wife had previously given him the boot over his financial difficulties. Rodriguez had filed for bankruptcy a month before his lottery win, and court papers showed he had just 78 cents in a savings account and owed $44,000 to creditors.

The Colombian immigrant bought the winning ticket at a store near the midtown Manhattan parking lot where he worked double shifts as an attendant, earning about $28,000 a year.

[Marcus Bryant]

"HALF!"

http://www.musicman.com/00pic/1179.jpg

[Spurminator]

There have been many times when I have wished I had 78 cents in the bank...

[MannyIsGod]

That's straight fucked up about the wife.

We can work it out, for 20 million.