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Three weeks after someone won the biggest Mega Millions jackpot in history, the winner still has not advanced to claim his prize, according to South Carolina Lottery Officials – and there could be a strategy behind the move.
"I'm really not surprised at all that it takes them a while to claim the prize," Morgan Stanley's financial advisor Michael A. Silver said last week.
"You know, I think it's a bit ironic, you think you win the lottery for $ 1.5 billion and you never have to worry about money again." on the contrary, your anxiety about money has been increased about 1000 times. "
The winning ticket, sold at a KC Mart store in Simpsonville, South Carolina, has a value of approximately $ 1.5 billion ($ 2.05 billion) in annual installments over three decades, a lump sum $ 877 million ($ 1.2 billion). cash package.
The winners have 180 days to take a step forward or until April 21, according to WLTX, who announced the news. If the ticket is not claimed within the allotted time, this money is automatically returned to the participating States. Each state can use this money for different purposes.
But according to Silver, it's likely that the winner will take the time to get together a group of financial and tax advisers, lawyers and advertising experts to help them navigate through potentially turbulent waters.
"Someone who instantly goes into a billionaire, they get into the world of big money," he said. "And he's a huge and discouraging stranger."
In addition to the unexpected benefits, there are tax implications. Silver said the tag holder had probably hired a tax advisor to ease the burden of the IRS, detailed by Fox Business.
If the winner accepts the cash payment, total transportation would amount to approximately $ 491.7 million ($ 671.8 million), after federal and state taxes – an income tax of 7% in South Carolina, the federal rate is 37%. Far from taxes, Silver also said that winners take the time to create a budget, and their spending also increases.
"Everyone thinks it's a 100% blessing and that it's wonderful and everything will be fine, but it takes a lot of thought, preparation and planning to manage the growth of wealth," a- he declared.
Most experts point out that if the winner is lucky and touches the six digits (one chance out of 302 million), he must first and foremost keep the news for him before calling on a trusted financial adviser to help you avoid Sudden traps of almost instant richness. .
This article was originally published on Fox News and has been reproduced with permission.
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