(CNN Money) – A 20-year-old from Florida hit the jackpot.
State lottery officials said Friday that Shane Missler of Port Richey, a suburb of Tampa, had come forward to claim the $ 450 million Mega Millions grand prize, which he won in a draw. A week ago.
The Mega Millions jackpot hit impressive heights ahead of Missler’s victory, in part due to a recent rule change that made winning the jackpot more difficult. Twenty-three draws took place before Missler’s post lined up perfectly with the five numbers in the January 5 draw.
Missler declined to pose for photos or conduct an interview, but hinted at his plans for the money in a statement provided by the Florida Lottery.
âI’m only 20 years old, but I hope to use it to pursue various passions, help my family and do good for humanity,â he said.
The statement also states that Missler “was not really surprised” when he realized he had hit the jackpot: he “felt” he would be lucky.
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The first order of business, he said, was to tell his brother. “Then he shared the news with his father over coffee the next morning,” according to the Florida Lottery statement.
The $ 450 million prize marked the fourth biggest in Mega Millions history and the 11th biggest jackpot in US history.
Missler, however, will not receive the full amount. Lottery winners only receive the advertised jackpot amount if they choose to accept the prize via a 30-year annuity.
Like most winners, Missler chose to accept her winnings as a lump sum. This meant that its price totaled $ 281,874,999. Financial advisers generally recommend accepting the lump sum. The idea is that if the money is invested wisely, the returns can represent a much larger payout over the next three decades.
And Missler accepted her prize money through an LLC – named Secret 007, a lottery spokesperson confirmed to CNNMoney.
Public records show that the LLC was formed two days ago, Jan. 10, so it is likely that Missler formed the company to accept his lottery winnings.
It’s smart financial planning, says Mari Adam, Florida financial advisor.
âIf they were talking to a lawyer, any decent lawyer would probably encourage someone who is about to receive that much money to do estate planning,â Adam said.
Setting up an LLC, she added, can help “protect what he has from frivolous lawsuits” or creditors if Missler finds herself in debt.
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