CASH Only...a question

Reply #3

mango — Mon, 15 Jul 2002 08:02:20 GMT

Take the cash, if you opted for the installments the actual rate of return when compared to the cash option is a tad over 2%.Seeking the advice of an investment professional should get you much better returns.

Reply #2

nascar8808 — Sun, 14 Jul 2002 01:01:42 GMT

Also another thing about taking the cash option is that if you kick the bucket before the annuity time period is up, your heirs have to pay taxes on the entire amount at one time. That would be a hard thing to do.

Reply #1

CASH Only — Sat, 13 Jul 2002 22:10:14 GMT

I would take the cash under ALL possible circumstances because then I could leave my investment options open (including SHOPPING AROUND for an annuity). Taking the annual payments offered by the lottery means you're stuck with whatever annuity you receive your winnings from. NOTE: I live in New York state; the NY Lottery STILL requires the cash/annuity choice be made at the time of purchase. I've e-mailed the NY Lottery about this. Of course, if you hit the Mass. 6/42 or 6/49 you are NOT ALLOWED... [ More ]

CASH Only...a question

RDP — Sat, 13 Jul 2002 21:26:53 GMT

I know you're adamant about taking the cash option, as am I. However, in the case of tonight's Lotto South drawing where the jackpot is six million and the cash option is three, would you still go with the cash? That would leave, after all taxes paid, roughly 1.6-1.7 million. Or, would you take the thirty year annuity in this case? Thanks for your time.