It’s a go-to daydream: what would you do if you won the lottery? For one Massachusetts man, that daydream came true not only once, but twice!
Rolf Rhodes, a resident of Mendon, Massachusetts, won $1 million on a Massachusetts State Lottery instant ticket on Wednesday, the lottery announced this week.
It’s the second time that Rhodes has won money on such a ticket. He snagged up another million just 18 months ago.
Rhodes’ prize this week came from playing the “$4,000,000 Instant Jackpot” instant game, and he decided to receive the money in annual payments of $50,000 before taxes. He already received the first of 20 payments, the lottery said.
The store that sold Rhodes’ ticket, the Imperial Gas and Country Store in Mendon, will be granted $10,000 for selling the winning ticket.
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In May of last year, Rhodes won the “Hit $1,000” $10 instant game, and decided to have that prize doled out in a one-time payment of $650,000 before taxes. That winning ticket was purchased in Milford, Massachusetts, just three miles away from the other store.
Anyone inspired by Rhodes’ success living in Massachusetts still has the opportunity to win it big. There are three $4 million prizes and seven $1 million prizes still up for the taking in the “$4,000,000 Instant Jackpot” $10 instant game, the Massachusetts State Lottery said.
While back-to-back prizes like Rhodes’ could inspire a spending spree, experts suggest that if you do happen to win the lottery, hiring a financial planner should be the first item on that spending list.
“You assume money makes you happy or takes care of all your problems. But money doesn’t do that,” financial planner Jim Shagawat told NBC News last year, when the Mega Millions jackpot was at $970 million. “And it can cause friction with family and friends.”
Added New York attorney Jason Kurland, who specializes in lottery winners, “The biggest mistake I see is people who try to do this on their own right from the get-go. Those are the ones who put themselves out in the open, who can’t limit their exposure, and are now an easy target for people, whether it’s a bogus charity coming to you or someone with an investment that’s a [supposed] no-lose situation.”