North Carolina Carpenter Hits $1M Lottery Jackpot With $20 Bill He Found In A Parking Lot

A North Carolina carpenter experienced an unexpected windfall after discovering a $20 bill in a parking lot, which led to a $1 million lottery win.

What Happened: A North Carolina resident stumbled upon a life-changing fortune after discovering a $20 bill in a parking lot. CNN reported on Monday that Jerry Hicks, a master carpenter from Banner Elk, used the found money to purchase a scratch-off lottery ticket on Tuesday.

The ticket, an Extreme Cash scratch-off, turned out to be a $1 million winner. Hicks claimed his prize at the North Carolina Education Lottery Headquarters on Friday. He opted for a lump sum payout of $600,000, which left him with $429,007 after taxes.

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Hicks, who has worked as a carpenter for 56 years, plans to use the windfall to assist his children and eventually retire. However, before making any major life changes, Hicks expressed his desire to celebrate his good fortune.

Why It Matters: Lottery winnings often come with significant tax implications, as seen in the case of Jeanne from Ohio, who won $15 million but faced a substantial tax bill, reducing her take-home amount to $4.5 million. This highlights the importance of understanding the financial impact of such windfalls.

Additionally, billionaire Mark Cuban advises lottery winners to avoid investing their winnings and instead keep the money in the bank for a comfortable life. His advice underscores the potential risks associated with investing large sums without proper knowledge or experience.

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Image via Unsplash

This story was generated using Benzinga Neuro and edited by Pooja Rajkumari