Chicago Man Bets Life Savings on Cubs To Win World Series
For those of us who’ve spent a decade or more glancing at our 401k plans and pushing away thoughts of, “How am I going to retire?” — one Cubs fan thinks he has the answer.
Don Majewski of Jefferson Park liked the chances for the Cubs this year so much that on Tuesday, May 3, he withdrew the bulk of his retirement savings, flew to Las Vegas, and laid down the bet of his life.
“I waited overnight before buying the ticket because I promised my wife I’d sleep on it,” says the 54-year-old sanitation worker turned carpenter. “I’ve been watching the Cubs my whole life, and when you’ve been doing that, you know that this team is truly special,” says Majewski.
His plan: take out $200,000 (94% of his retirement savings) and lay it all down on the Chicago Cubs to win the World Series. Yes, those Chicago Cubs.
“I know it seems crazy, but what am I risking, really?” asks the 54-year-old Majewski. “I could save for six more years, and maybe I’d have, what, a quarter million to live on for the rest of my life? And that’s if the market doesn’t tank again.”
If the Cubs win, Majewski figures he’ll owe the government $68,000 in taxes and a 10% early withdrawal penalty, but at a 3-1 payout he’d be looking at a net gain of $532,000, with a new nest egg just a little under three quarters of a million dollars.
Now that the bet has been made, does Majewski have any regrets? “What kills me is that I didn’t do this sooner, back in April, or before the season started. I could have gotten six to one or better back then.”
For those of you worried about a long-time Cubs fan risking it all on something the team hasn’t been able to do once in the last 107 years, Majewski says not to worry — his wife is a public schoolteacher, and her retirement plan should be enough for them to stay put, even if they won’t be living in the style he’s already planning for.
“You only get so many chances in your life to do something big,” Majewski says. “My whole life I’ve been watching the Cubs, saying — Just give me one, just one. If I didn’t go for it now, I’d just regret it for the rest of my life.”
As of this article, the Chicago Cubs have the best record in Major League Baseball, with a record of 24 and 6. Their next game is tonight at 8:05 pm, against the San Diego Padres. Don Majewski will be watching.
Category: Sports