Big money, big problems: how lottery jackpots changed the lives of New Yorkers

A $ 432 Million Winning Mega Millions Lottery Ticket That was bought from a pizzeria in Manhattan, is the largest jackpot in the history of New York. Before that, the state had smaller winnings, and they often ruined the lives of the lucky ones who received them, writes New York Post.

The lucky winner has to take home about 192 million after taxes and reducing the amount when choosing a lump sum.

Previous New York City Jackpot Winners have experienced how their lives have changed dramatically after winning the lottery... And not always for the better.

“Many of them end up unhappy or broke. Terrible things happened to people, ”said Don McNay, financial advisor to lottery winners. - People often commit suicide, they put their money down. As acquired - and lived. "

He believes that for them these are shocks for which they are not ready. "This is the curse of the lottery, because it does not improve their lives, but makes it worse," he said.

Bitter battle

Juan Rodriguez of Ozone Park, Queens was a bankrupt valet driver. He was just kicked out by his wife, with whom he lived for 20 years. Things were going nowhere worse when he unexpectedly won the Mega Millions jackpot of $ 2004 million in 149.

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His wife got along with him for a short time after winning, but 10 days after the good news she filed for divorce. She won an injunction against Rodriguez receiving money (about $ 59 million after taxes) until they reach an agreement on the division of property in the course of the divorce.

A public trial ensued, which ended with the couple splitting the winnings 50-50.

"Do the right thing"

Robert Bailey, a 67-year-old retired civil servant, won the $ 343,8 million Powerball jackpot in November 2018.

Bailey, who has been picking the same numbers for 25 years, bought his winning ticket at a deli across the street from his Harlem apartment. As a result, the retiree took home a whopping $ 125 after taxes.

He contacted a lawyer and financial planner after his victory. The win at that time was the largest in the history of New York State.

Bailey said the jackpot "changed his life" at the time. He wanted to "do the right thing" with his winnings - he planned a trip to Las Vegas and an "escape" from the New York winter in the Bahamas.

Bailey had plans to buy land for her mom. And, as we know at the moment, he did it.

Huge changes

David Yax of North Evans won the $ 80 million Powerball jackpot in September 2019.

After taking home $ 38 after tax deduction, Yax immediately called his financial advisor.

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“Winning this amount of money is fantastic, but a little overwhelming. Our life has changed 100 percent, ”the lucky man said at the time.

Then he planned to create a trust, dreamed of investing and said, among other things: "We intend to travel and just have fun." At the moment it is not known how it all ended for him.