if you won over $70 mil- would you settle for the lump sum or annual installments

Reply #53

helpmewin — Fri, 08 Mar 2013 02:10:34 GMT

Reply #52

Ronnie316 — Thu, 07 Mar 2013 21:51:50 GMT

Reply #51

helpmewin — Thu, 07 Mar 2013 21:42:08 GMT

somebodys watching me

Reply #50

Ronnie316 — Thu, 07 Mar 2013 21:29:13 GMT

Thank you for not bashing me. Lottery players are winners.

Reply #49

helpmewin — Thu, 07 Mar 2013 21:18:49 GMT

All is Forgivin! now lets focus on ALL of us WINNING

Reply #48

Ronnie316 — Thu, 07 Mar 2013 20:51:45 GMT

Im sure glad I dont need a firm grasp on the fundamentals of grammar and punctuation

Reply #47

helpmewin — Thu, 07 Mar 2013 20:20:55 GMT

About NOT Reading anymore i Recall the topic being as: if you won over $70 mil- would you settle for the lump sum or annual installments.

Not judging or Bashing others for their Beliefs

Reply #46

haymaker — Thu, 07 Mar 2013 20:18:16 GMT

Texas is not alone, in Jersey you still have to choose when you buy.

Reply #45

Ronnie316 — Thu, 07 Mar 2013 20:08:12 GMT

Boney is on the right and Jammy is on the left.

Jammy Med Boney

Reply #44

janem — Thu, 07 Mar 2013 20:02:18 GMT

Absolutely agree. I think I would take the lump sum regardless of the amount I won. One of the first things I would do is to start interveiwing/researching attorneys, financial advisers and accountants, in order to have the best people ready when I get my check. I would invest about 85% of my winnings to earn income and use the rest to have fun with .

Oh, and to joshuacloak, I just want to let you know that when you start of your post with anyone who picks the annual is a moron , you immediat... [ More ]

Reply #43

LottoBoner — Thu, 07 Mar 2013 19:56:45 GMT

Whos doing the curly shuffle

Reply #42

Ronnie316 — Thu, 07 Mar 2013 19:55:31 GMT

Reply #41

Ronnie316 — Thu, 07 Mar 2013 19:53:55 GMT

Although I do get an annual myself from time to time............

Reply #40

Ronnie316 — Thu, 07 Mar 2013 19:52:07 GMT

anyone who picks the annual is a moron

Say no more.

Reply #39

mcginnin56 — Thu, 07 Mar 2013 19:48:07 GMT

At 100 words per minute, in would have taken him just 36 hours and 24 minutes.

Reply #38

helpmewin — Thu, 07 Mar 2013 19:47:06 GMT

Reply #37

helpmewin — Thu, 07 Mar 2013 19:43:52 GMT

that's a lot of typing

Reply #36

joshuacloak — Thu, 07 Mar 2013 18:57:30 GMT

anyone who picks the annual is a moron

there beyond to many smart people who can handle money for u, large investment compies , they just charge u more if your to dumb 2 think for your self

but vest majority of them will even tell u take the cash

why is simple, US t bill rates are godly LOW

thats what lottery annual installments is, just Freaking special T bills

what does that have over taking CASH money all at once,

is the fact all money gets INVESTED pre tax levels, and

Reply #35

billionaire2bee — Thu, 07 Mar 2013 18:14:19 GMT

Call JG Werntworth 8 7 7 Cash now....Call now!!!.........LOL LOL

Reply #34

whiteballz — Thu, 07 Mar 2013 17:27:27 GMT

I love these lump sum vs annuity discussions almost as much as I love the monthly, would you collect anonymously if you win? discussions.

Reply #33

TooTallLuke — Thu, 07 Mar 2013 16:53:57 GMT

Taking the annuity makes you a smaller target.

Reply #32

rdgrnr — Thu, 07 Mar 2013 16:31:17 GMT

I am not a doom and gloom survivalist guy owning a bunker and worrying if the government is going to collapse and unable to pay the next annuity.

Then go right ahead and put your faith and trust in the politicians and the bankers who have shown themselves to be so trustworthy with our money as of late.

Especially in California.

Good thinkin

Reply #31

Ronnie316 — Thu, 07 Mar 2013 15:28:05 GMT

I do think an annuity is right for ALL meth heads. In fact, it should be required.

Reply #30

Ronnie316 — Thu, 07 Mar 2013 15:26:57 GMT

I would let a financial advisor tell me IF and WHAT annuity is right for my objectives.

Reply #29

Ronnie316 — Thu, 07 Mar 2013 15:25:18 GMT

You take whatever they give you, and call JG Wentworth about a later.

Reply #28

billionaire2bee — Thu, 07 Mar 2013 15:17:16 GMT

I would love to take the annunity....but I dont necessarily trust the accounts they may haver it set up in....I'd rather take the lump then set up my own annunity payments, dividends and such....but hey does anybody know if you can take the annunity and tell them how you want it invested? Or do they already have the money in the account and turn it over to you

Reply #27

Ronnie316 — Thu, 07 Mar 2013 14:24:02 GMT

we all say lump sum, but are we smart enough to actually manage that money well?

Cash please. Yes Im smart enough. Thank you.

Reply #26

BuyLow — Thu, 07 Mar 2013 14:17:16 GMT

Show me the CASH NOW!!!! Trust good ole' Mother Govt to pay me over 20-30 years, LOL....No thanks

Reply #25

CinCin — Thu, 07 Mar 2013 14:09:16 GMT

What He said

Reply #24

savagegoose — Thu, 07 Mar 2013 14:03:58 GMT

thanks heresetrax ,having said all that i would still take the lump sum. but i am tight fisted. would invest and only ever spend earnings. So 1st month would be the hardest lol.

Reply #23

mcginnin56 — Thu, 07 Mar 2013 13:15:22 GMT

Wow, what a coincidence. It's the same for my Live, Freeze and Die state of NH.

We both need to count our blessings.

Reply #22

redhot7 — Thu, 07 Mar 2013 13:07:03 GMT

The good thing about California is you don't pay state taxes. Only federal taxes. This could change of course but at the present time, you don't pay state taxes for the lottery.

Reply #21

mcginnin56 — Thu, 07 Mar 2013 13:05:02 GMT

And as a resident of the great state of kaleefornua, your views make the most sense for my money.

Reply #20

redhot7 — Thu, 07 Mar 2013 13:00:12 GMT

I will be more tempted to do stupid things with the money if I take the lump sum. So, if it's over 100K per year, I would choose the annuity. I am not an overly greedy person who must get it all at once. And I am not a doom and gloom survivalist guy owning a bunker and worrying if the government is going to collapse and unable to pay the next annuity. I can't live like that kind of mentality, with or without winning the lottery.

Besides, remember if you choose annuity, typically you only g... [ More ]

Reply #19

msharkey2001 — Thu, 07 Mar 2013 12:54:01 GMT

I totally agree with the last two posters. It's one thing to say adjust your attitude , but to do it in practice is a different story. I think it's along the same lines of telling a smoker or drinker to adjust his/her attitude to quit but it's never that simple, and help is often needed to stop.

Unless someone with poor money management seeks out help from a professional planner it's probably likely they'll continue to quickly blow through their annuity payments and stay behind the 8 bal... [ More ]

Reply #18

hearsetrax — Thu, 07 Mar 2013 12:45:01 GMT

keywords : moronically borrow against the future payments

Reply #17

ryanm — Thu, 07 Mar 2013 12:34:39 GMT

Don't be so sure taking the annual installment option will make you smarter about spending your winnings. Winners can still foolishly borrow against the future annuity payments.

Reply #16

msharkey2001 — Thu, 07 Mar 2013 12:29:39 GMT

For a win of this size I would take the cash option.

For a smaller win of say $1-$10 million in a state game I would go annuity for sure to avoid the newly inacted high income and SSI taxes.

Reply #15

hearsetrax — Thu, 07 Mar 2013 11:48:15 GMT

wise words ,Goose

Reply #14

SOLO1 — Thu, 07 Mar 2013 10:50:50 GMT

I'll run to take the cash.

First things first! lol

Reply #13

Win$500Quick — Thu, 07 Mar 2013 10:34:01 GMT

I'll take the cash and run.

Reply #12

ttech10 — Thu, 07 Mar 2013 08:59:15 GMT

Is Texas still the only state that you have to choose when you buy the tickets? I remember when I first bought tickets in California, I always wanted to say 'cash value' out of habit. I'm going to have to start remembering that again here in two weeks.

Back when I wasn't sure which option to choose, it would have been nice to be able to wait until I knew if I won or not to make the choice. I used to buy one ticket with the cash value and another with the annuity (different numbers though... [ More ]

Reply #11

RJOh — Thu, 07 Mar 2013 06:11:31 GMT

Depends on the length of the annuity. 25 years maybe, 30+ years maybe not. I'll cross that bridge when I come to it.

Reply #10

savagegoose — Thu, 07 Mar 2013 06:10:18 GMT

you have to do some soul searching, and know who you are. Can you really say no? its a lot easier to ssay no on 1.5 mill a year, than 35 mill in a lump sum.

If you know you cant say no, and maybe you know you cant ever save money and always spend spend spend. then maybe just maybe installments are in order.

after all if you can live on 1.5 mill in the 1st year and money saved at the end, then after the 2nd year you should have more saved up.

and as you say, if yopu blow it in 10 mo... [ More ]

Reply #9

Toronto — Thu, 07 Mar 2013 05:49:17 GMT

If I won $69.9 million, I'd take the installments, but if I won $70 million, I would definitely have to take the lump sum

Reply #8

ttech10 — Thu, 07 Mar 2013 05:16:13 GMT

Lump sum. No question. A few years ago, though, I would be iffy.

Now though I think about effects of taxes rising as well as having to be linked to the lottery comission for years and years. I'd rather take the money and run.

And remember mistakes can still be made with the annuity. Plenty of lottery winners have hit the bottom of the barrel by going with the annuity and then selling it to a company for a smaller amount.

I also wouldn't be surprised if some annuity winners get... [ More ]

Reply #7

weshar75 — Thu, 07 Mar 2013 05:14:18 GMT

I think the higher it grows the more willing I am to take the payments and grow old with the money in the bank every year. Good luck to me on saturday night.-weshar75

Reply #6

helpmewin — Thu, 07 Mar 2013 05:08:59 GMT

annual payments

Reply #5

CajunWin4 — Thu, 07 Mar 2013 04:30:04 GMT

Wrong Mind Set to Win !!! You can't have that if attitude ... It's when ,I will Win the Jackpot !! I will take the Lump Sum Winnings .....

Reply #4

sully16 — Thu, 07 Mar 2013 04:24:05 GMT

lump sum

Reply #3

rdgrnr — Thu, 07 Mar 2013 03:54:53 GMT

I'd rather take the lump some and buy stuff before the dollar collapses.

Reply #2

IPlayWeekly — Thu, 07 Mar 2013 03:54:27 GMT

Lump sum

Reply #1

Romancandle — Thu, 07 Mar 2013 03:43:20 GMT

Yep (basically), but if you blew it all before paying your taxes the first year, you'll be tapping into the next installment right away just to cover your 1st years tax bill. Get a good accountant and financial planner... first. If you got a good one, then you'll know which payment to take- lump sum or annuity- most go for the lump sum for a variety of reasons.

if you won over $70 mil- would you settle for the lump sum or annual installments

noise-gate — Thu, 07 Mar 2013 03:17:55 GMT

I read where it said the annual installment program gives one multiple chances to avoid the screw up in the event one blew through their first payout. For instance if your 1st installment was over $1, 500, 000 and you decimated that amount in under 10 months, you have time to readjust your mental attitude the next go round and plan accordingly.

Do you agree with that thinking