Lump Sum Or Annuity? :)

Reply #17

music* — Sat, 01 Aug 2020 15:20:10 GMT

Please google William Bud Post III He was a colorful character who won in 1988. I believe only the annuity was the option back then.

After spending the first check in a few months he complained that all he had were bills. No money.

He has since passed away in January 2006.

I am sure that Lottery Post Search box has his story as well.

Making the Lump Sum last for a life time is a challenge as well. Depends how much you win. Plus a bunch of other factors.

Before a Senior ci... [ More ]

Reply #16

GiveFive — Sat, 01 Aug 2020 12:32:06 GMT

No doubt a players age at the time of their huge win is a significant factor in deciding whether or not to take the lump sum or annuity.

That said, while it does seem as if a young player would be smart to take the annuity, tomorrow is not promised to anyone. So there is that to think about too. I hope it's never happened, but what if a young person with no heirs gets a windfall only to tragically pass away a short time later? But I dont think the fact that a young person could die soon after... [ More ]

Reply #15

CDanaT — Sat, 01 Aug 2020 01:17:20 GMT

Tough age for the majority of young adults to be at with that kind of option KN.... Winning $4 Million in TN, means a take home of roughly $2,520,000 after Uncle Sams cut of 37% this year. Nest Egg of $2 Mill, the other $520K for a house/car/lawyer/investment fees and 1 years expenses. Even at 3-4% interest rate($60-80K),will that be enough for you and a possible mate children in the future years ?

Taking $300K minus the applicable takes might net you $200K this year and potentially less in f... [ More ]

Reply #14

Stack47 — Fri, 31 Jul 2020 20:40:32 GMT

But she said it was just a lighthearted joke . Do you think fire and brimstone is headed her way

Reply #13

music* — Thu, 30 Jul 2020 20:18:59 GMT

with both grwurston and Midnite0807 After a major win one can do wonderful things. Family and friends will appreciate your kindness.

People in general will see lottery winnings as free money. Let it be and do what you think is correct.

Reply #12

Midnite0807 — Thu, 30 Jul 2020 00:32:07 GMT

Sometimes it's not the love of money per se....it is wanting not to have to live paycheck to paycheck and not worried about getting laid off and how to pay bills after the layoff happens .....or if an immediate family member is seriously ill being able to.spend time care for them before their sunset.

Reply #11

Midnite0807 — Thu, 30 Jul 2020 00:27:07 GMT

It depends on you age health, if you're over 59 take the the Lump Sum

Reply #10

grwurston — Wed, 29 Jul 2020 23:39:16 GMT

If we didn't love money, or at least want more of it, why would we be on a lottery site trying to figure out how to win some of it

Reply #9

music* — Wed, 29 Jul 2020 15:59:55 GMT

For the love of money is the root of all evil. The love of money is another god.

We have a jealous God. Too land in the hands of our living God is frightening.

Reply #8

Karen Nathan — Mon, 27 Jul 2020 01:56:55 GMT

It was just a lighthearted joke....

Reply #7

Stack47 — Sun, 26 Jul 2020 22:54:15 GMT

You thank both the Lottery Gods and the actual God.

Thou shalt have no other gods before me. '

Just saying.

Reply #6

bigdaddy — Sun, 26 Jul 2020 02:52:19 GMT

lump sum putting half in stock symbol O and 2 other blue chip stocks that are lower than they should be with solid management..put a 1/4 of it in various cannabis stocks and live off the dividend...

Reply #5

Karen Nathan — Sun, 26 Jul 2020 02:45:45 GMT

On an interesting side note, tonight's Lottery Purchase are 862 box Pick 3, , 6,22, 30, 32,40,50 for Lotto, EZ Match.

Reply #4

Karen Nathan — Sun, 26 Jul 2020 02:41:38 GMT

Good point on the age. In my Scenario, the Person is only 25 and doesn't have any children and is unmarried, so most likely wouldn't be thinking of leaving money for heirs or anything like that, so that 25 year old is more likely to choose the Lump Sum and blow it friviously on cars, fancy food, fancy Jewelry, more gambling, travel, drinking, drugs, wild parties, fancy clothes, Limo Rides, etc.

A 55 year old would most likely take the Annuity in order to make sure his Family is well... [ More ]

Reply #3

music* — Sun, 26 Jul 2020 01:57:04 GMT

darthfury78, Enjoy having a check arriving in your mailbox on the Anniversary of your win.

If you are not interested in real estate than stay out. Settle inside your home.

Antique cars may be your choice.

Reply #2

grwurston — Sun, 26 Jul 2020 01:18:30 GMT

If you look at the Quick Links and click on USA MEGA, and then click on Jackpot Analysis, it will give the breakdown of how much you will get each year if you take the annuity on any Jackpot win for MM and PB.

Maybe that can help you decide. What you do would also depend on your age at the time, knowing that it is going to take 30 years to get everything.

I like your scenario. People find discarded scratch offs and win, so why couldn't it happen?

Good Luck anyway

Reply #1

darthfury78 — Sun, 26 Jul 2020 01:02:49 GMT

I would take the annuity option. This is after I have the winnings placed in a Trust so it can collect the payment over a 20 year period. The annual payment would allow me to invest the cash in blue chip stocks. By the time when I receive the last instalment the $4 Million Jackpot would be worth around $60 Million(divdends reinvested). The Jackpot is a once in a lifetime opportunity. Why blow it on things that will be a liability, like having multiple houses and cars

Lump Sum Or Annuity? :)

Karen Nathan — Sat, 25 Jul 2020 23:54:33 GMT

You find a dollar on the ground. With that dollar you decide to gamble on the Lottery. You pick the numbers 6, 22, 32, 40, 50, 53. You watch that night's Lottery Draw. Ball 6 pops up. You smile a bit skeptically. 22 pops up. Your smile begins to get a bit wider. 32 pops up. You are now smiling even bigger. You are now a winner of at least $5 no matter what. 40 pops up. You are now ecstatic. You won $50 at least! Woo hoo. 50 pops up! Yes! You just won $10,000! Field goal!

You begin dancing... [ More ]