Thomas Yi at 23 is the youngest winner in Florida of a Powerball jackpot that is worth $235.4 million.
The recent youngest millionaire has now claimed the prize money that he had won in the 27th March Powerball drawing. He claimed it in Tallahassee at the Florida Lottery Headquarters.
This youngest winner was in a state of shock even after he saw that he’d matched all six numbers of the Powerball draw. According to the Florida lottery because of the disbelief, he had his ticket rechecked by the retailer.
The cashier at the counter got so excited seeing Thomas’s win that he went on repeating his $235 million Powerball win. According to the young lucky winner he knew at that point only that this was a life-altering win.
Thomas Yi has chosen the lump-sum option for the payment of his winnings which makes it $160,038,447.27. The winners have to choose between whether to take the lump-sum amount of the money or to take it over 30 years. This is one of the toughest decisions that winners have to make and therefore it should be a well-thought decision. With the one-time lump-sum option you get a fairly reduced amount but well you get it all at once. On the other hand, if you choose the annuity option you get the entire money without any deductions. However, you are paid by way of yearly installments over a period of 30 years.
What should you do if you get your hands on this kind of moolah?
It is always best to dump it in the bank and take time to really assess what you want to do with the money. This gives you time to plan how to spend or invest your windfall wisely. You need to wait and take a breath and do something smart if you have managed to get lucky.
Another option is to diversify your earnings and put them in three or four large financial institutions. For instance investment in government bonds which are assumed risk-free and a few AAA credits from corporations will make you about 4% a month.
On being persuaded to tell about his future plans with respect to the windfall, Thomas shared his modest thoughts. Yi told the lottery officials that in spite of the huge amount he had won, he would continue with his higher education. He aspires to pursue a degree in either medicine or business.
The winning Powerball jackpot ticket was bought by Yi from Yi purchased Publix in Lutz, situated at 16560 North Nebraska Avenue. There is good news in store for the retailer too as he shall be getting a $95,000 commission for vending it.
The current Powerball Jackpot the drawing of which is to be held on Saturday is estimated at $79 million.