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Lottery player/winner advice ?Reply
lotteryinfopls: What if you take the annuity, and the company/corporation the annuity is from goes bankrupt?
Sep 9, 2002, 12:21 pm - CASH Only - Lottery Discussion Forum

Lottery player/winner advice ?Reply
lotteryinfopls: You've posted only three times so far, and obviously you haven't spent much time reading these messages. NEVER let the lottery assign you the annuity! You lose control, and leverage, over your money if you tell the lottery you want the annual payments. It is YOUR money after all. NOBODY should be fooled into taking the annuity, regardless of their age. Get expert financial advice, take the LUMP SUM, and then shop around for investing. THEN you can consider an annuity, and you'l
Sep 9, 2002, 11:58 am - CASH Only - Lottery Discussion Forum

Lottery player/winner advice ?Reply
I would probably go with the annuity over the cash sum. Use a trust or a partnership with the help of an estate lawyer. Then for the next 27 years you have a steady income. The article was trying to say that to keep a better fix on your money emotionally you need the annuity. The annuity keeps you from spending all you money. Look at some of the young people in their twenties who have won, they should taken the annuity! It your money, it just like a retirement, they don't give you lump sum
Sep 9, 2002, 10:49 am - Guest - Lottery Discussion Forum

Lottery player/winner advice ?Reply
I'm not saying that annuities are bad. My feeling is that if a lottery player likes the idea of receiving annuity payments after they win (should it happen) they still should choose LUMP SUM, and after they receive the cash, buy the annuity after shopping around for the annuity and/or other financial vehicles.
Sep 4, 2002, 6:28 pm - CASH Only - Lottery Discussion Forum

Never let lottery assign you an annuityReply
Annuity = No control over your moneyAnnuity = Up-front death taxes to your heirs if you die during annuity period, even though the annuity still only gets paid yearlyAnnuity = Much less leverage with your money because you have less on-handAnnuity = Much less money if you have a problem down the road and need to have it bought outDefinitely go with cash. It is not less, it's much more.
Aug 31, 2002, 5:26 pm - Todd - Jackpot Games Forum

Never let lottery assign you an annuity
The Brisbane, CA, winner apparently made the biggest possible mistake that could be made when purchasing lottery tickets. California still requires Super Lotto Plus players to choose cash or annuity WHEN they play, instead of after they win. The 43-year-old GRANDMOTHER not only has to wait until age 68 to receive all her winnings, but the payments are backloaded -the first payment is the smallest. I bet whatever financial advice she's receiving includes being told she should have chosen lum
Aug 27, 2002, 7:23 am - CASH Only - Jackpot Games Forum

Rich for LifeReply
Furthermore, there are complications from annuity payments that don't arise with a lump sum. Among other things, NEVER allow a lottery to assign annuity payments to you if the annuity is finite (X number of years.)
Aug 25, 2002, 3:12 pm - CASH Only - Instant ("Scratch-Off") Games Forum

Help me decideReply
By allowing the lottery to assign an annuity to you, you LOSE control of your money. The annuity provider almost certainly will make money off of YOUR money; any excess money generated by the annuity DOES NOT go to you. If you take the LUMP SUM, you still have control of your money. You would be able to SHOP AROUND for the annuity (or invest in multiple annuities), as well as keeping other investment OPTIONS open. Besides, you would have to notify the lottery each time you move. And there is the
Aug 14, 2002, 6:05 pm - CASH Only - Lottery Discussion Forum

Who wants to be a millionaire? The Rock's versionReply
Hey buddy The Rock's annuity are as good as gold.The Rock
Jul 31, 2002, 8:47 pm - therock - Lottery Discussion Forum

Cashonly!!!!!!!Reply
Anybody who insists on annuity-only has ROCKS in their head.
Jul 31, 2002, 8:34 pm - CASH Only - Lottery Discussion Forum