Cash Vs. Annunity, revisted

Reply #11

CASH Only — Wed, 29 Jan 2003 01:31:44 GMT

People who believe annuity is better probably have an uncle who hawks them.

Reply #10

OldHank — Thu, 16 Jan 2003 21:24:49 GMT

lol, YOU GOT THAT RIGHT!, FJA

Reply #9

fja — Thu, 16 Jan 2003 21:17:01 GMT

Ah....... just to have the choice,

Reply #8

CASH Only — Thu, 16 Jan 2003 21:11:19 GMT

I guess we HAVE to revisit the lump sum/annual payments issue. We have a new member named TakeAnnuity

Reply #7

harry613 — Thu, 19 Dec 2002 02:06:39 GMT

Reply #6

Thomas Covenant — Wed, 18 Dec 2002 22:45:48 GMT

I know about those, but my kids have developed a tolerance to the nyquil. I use the Winn-Dixie brand of nyquil. But I guess if I won I could afford the name brand.

Reply #5

visiondude — Wed, 18 Dec 2002 22:36:28 GMT

thomas, here is a traveling t

Reply #4

Thomas Covenant — Wed, 18 Dec 2002 19:22:18 GMT

I couldn't tell you. I do know that a lot of the annuity people went broke because they sold their annuity for less that half of what it was worth, then spent it all. The mega million cash option jackpots hasn't been around that long. Time will tell. Personally I would take the cash option and have everything safely invested before I started any major spending. A mansion in every country, and a yacht and a private jet to get me there wouldn't really fit into my lifestyle with three small kids.... [ More ]

Reply #3

rundown99 — Wed, 18 Dec 2002 18:48:09 GMT

But who goes broke more often, those who take the CASH or those who take the annual payments?? I know that Bud Post and Curtis Sharp had to take annuity, because the cash option didn't exist back then. But I haven't heard of anyone going broke after taking the cash.

Reply #2

Thomas Covenant — Wed, 18 Dec 2002 17:47:38 GMT

It was temporary, the republician controled congress and the repub president is pushing it, the bill is going before the congress in January. They are hoping to make it a permenant repeal. Here is a link to the story.Click here

Reply #1

CASH Only — Wed, 18 Dec 2002 17:39:00 GMT

tc: I think the repeal of the estate tax(es) is TEMPORARY-until 2010 or so. Taking the annual payments means each annuity check is subject to the tax laws in force THEN instead of now. The idea is to keep as much control over your money as possible; if you invest aggressively making sure the risk is very low.

Cash Vs. Annunity, revisted

Thomas Covenant — Wed, 18 Dec 2002 17:25:04 GMT

One of the main reasons to pick the cash option was the problems with taxes for your heirs if you die too soon. With the upcoming repeal of the Estate Taxes, that won't be a problem anymore. With the news full of people who lost millions of their retirement money, is an agressive investment portfolio a wise thing to do? And you are always hearing about lottery winners that go broke or get heavily in debt after a few years. Wouldn't taking the annunity or a very low risk investment portfolio be a... [ More ]