A Lucky Someone is $1 Million Richer in Ocean County, NJ
We can add another area resident to our local millionaires' list.
The New Jersey Lottery's Cash4Life is a two-dollar ticket that gives players the chance to win $1,000 a day for life if they match all five numbers and the Cash Ball.
A winner may accept the $1,000 a day prize, or take the $7 million payout.
The odds of hitting this by the way are 1 in 21,846,048. In other words, not likely.
However, if a Cash4Life winner matches all five numbers and not the Cash Ball, they still get a really nice payday.
This is considered the second prize and it pays you $1,000 a week, or a $1 million lump sum.
The odds of winning this prize is 1 in 7,282,016, Those are impossible odds, but someone in Ocean County beat them.
The New Jersey Lottery announced today that someone purchased a second prize-winning Cash4Life ticket for Sunday's drawing at Shoprite on North County Line Road in Jackson.
The winning numbers were 9, 13, 30, 36, and 40. The Cash Ball was 4.
Time to check those numbers, right?
At first, I thought, that $1,000 a week is not enough to retire on, but many people can get by on $52,000 a year.
At the very least they can work less and enjoy more.
Don't forget to factor in taxes.
The $52k a year, or annuity option seems to be a better bet if you're younger.
If one is older, taking the cash payout of $1 million is the way to go.
The thing is, you can't decide after you've won. You must choose when you purchase the ticket.
Let's hope whoever made the purchase in Jackson thought through the options.
Either way, congratulations to Ocean County's newest millionaire, or eventual millionaire!