A Michigan man who won a prize worth over half a million won’t be flashing his new cash anytime soon. The Fantasy 5 jackpot winner will stash the cash instead.
It’s a good move for anyone who wins a prize of that size. The big win came as a result of using the most convenient way to play in the Great Lakes State as well.
What we know about this Fantasy 5 jackpot winner
This victor has taken advantage of his right to privacy. The Michigan Lottery only shared that he lives in Marquette County and is 32 years old.
The winner bought the ticket for his Fantasy 5 play online. He did share that it’s one of his favorite games to play.
“I like playing Fantasy 5 because the odds are pretty good, and it’s convenient to buy online. I was so surprised when I logged in to my lottery account the morning after the drawing and saw a notification that I had hit the jackpot!”
The drawing that gave him the win took place on Dec. 30, 2020. He matched all five numbers, giving him the jackpot worth $550,700 before taxes.
After he claimed his prize in-person at a MI lottery claim center, he denoted that he would use the money to pad his retirement savings. He hoped that it would mean he could retire earlier than he originally planned.
Next to buying the winning play, that might be his best move in this situation. Lottery winners do well to put their winnings in a position to multiply.
The smart things to do when you win a MI lottery prize
While not blowing the entire jackpot is a good move, how you invest your winnings can make a big difference as well. After you realize you’ve won a six- or seven-figure lottery prize, there are three people you should enlist the services of immediately:
- Accountant
- Financial adviser
- Tax attorney
Those individuals can help you put your financial windfall in a position to grow instead of shrink over time. They can also help you minimize the amount of tax you have to pay on your winnings.
Two other good tips include checking your tickets as soon as possible after drawings take place and setting a budget for yourself when it comes to playing the lottery. Responsible gambling is always a winning strategy, even if you never land a jackpot worth half a million dollars.
