Million-Dollar Lottery Winners Face New Financial Decisions

by Mark Friedman  on Monday, Jan. 16, 2012 12:00 am  

Lottery tickets at the Site store on the corner of Cantrell Road and Kings Row Drive in Little Rock. (Photo by Michael Pirnique)

After selling insurance for more than four decades, Simpson said, he figured he could handle the financial decisions himself.

He said he still had money left, but wouldn’t say how much. “I don’t consider that anybody’s business,” Simpson said.

Sudden Wealth

Randy Wagner of Grubbs won $1 million in August by buying a $1 Powerball ticket and adding a $1 PowerPlay multiplier to it. If he hadn’t kicked in the extra $1 for the multiplier, the winning ticket would have been worth $200,000.

Wagner told the ASL that he planned to buy a new truck, according to an ASL news release. He and his wife also had a strategy to “multiply his winnings through wise investment,” according to the news release.

Wagner declined to comment further. “I’m just a normal guy that doesn’t want to gloat about nothing,” he told Arkansas Business.

Wagner’s wife, Stacy Wagner, vice president of human re-sources at Merchants & Planters Bank of Newport, told Arkansas Business that her family was private and reserved. The Wagners don’t want to gloat about

anything or brag. She said, “We feel the less said about it the better.”

Julie Baldridge, interim director of the ASL, said winners weren’t ad-

vised on how to spend their jackpots. “It would be an unwise risk for the state,” she said.

She said most winners had told

her that they planned to be sensible with their money and not blow it on high-dollar items.

 

 

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