Most of us dream about just winning the lottery once, even if we don’t gamble or buy lotto tickets. However, nobody ever imagines that they will win twice in a lifetime. Still, there are a few lucky folks that have won the lottery twice, including this man from Massachusetts…
Getting Lucky
Rolf Rhodes from Mendon, Massachusetts, must be one of the luckiest people on Earth. In November 2018, he won a whopping $1 million thanks to the “$4,000,000 Instant Jackpot Ticket,” a part of the Massachusetts State Lottery. Right after the lottery office announced his Rhodes’ winnings, they noticed something. It wasn’t the first time that Rhodes had won the lottery, left alone $1 million. It was his second time! Only 18 months ago, he had his first million with the exact same ticket type!
Rhodes bought his lottery ticket at the Imperial Gas and Country Store in Mendon, and so this store will get $10,000 for selling a winning ticket. Unlike his first win, Rhodes decided to take this win in an annual sum. As a result, he will earn $50,000 each year, not including taxes. In fact, Rhodes’ already received the first of his 20 payments!
Two Years In A Row
While he used the same ticket in both games, Rhodes actually won a little differently the first time around. On his first lottery ticket, he earned $1 million for earning 10 “Hit $1,000,” which results in a jackpot. The second time around, the lucky man won an instant prize. Even more impressive, while Rhodes didn’t buy the ticket at the same store, he only purchased them 3 miles away from one another!
For residents of the state, don’t worry, you still have a chance to win just like Rhodes did! Buying the ticket and participating in the “$4,000,000 Instant Jackpot” $10 instant game can still bring you one of three $4 million prizes or one of seven $1 million awards as the Massachusetts State Lottery reports.
When Winning The Lottery…
Rhodes has now tried out both methods of receiving lottery cash, in a lump sum and with annual payments. What’s the most suitable one? Professionals argue that lump sum is a better choice, but in the end, it’s all up to individual preference. Moreover, the winner should hire a financial planner right after the call from their lottery.
“The biggest mistake I see is people who try to do this on their own right from the get-go. Those are the ones who put themselves out in the open, who can’t limit their exposure, and are now an easy target for people, whether it’s a bogus charity coming to you or someone with an investment that’s a [supposed] no-lose situation,” said the New York attorney Jason Kurland, who works with lottery winners. “And it can cause friction with family and friends,” he added, noting that money can definitely become a problem for a winner as much as it brings happiness.
Apart from hiring a financial planner or advisor, make sure to look for a lawyer who’ll deal with the money, bank accounts, and the lottery company and an accountant who’ll help you manage overall spending and savings.