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Check out this articleReply
Now this is well thought out advise. Not that garbarge that Annuity Only puts out. This is the way a reputable financial advisor would lay out options for a client to consider. As the article pointed out there may be a very small group of people who would be better off taking the annuity, but I have a problem with the reasoning that it may control a persons spending habits. There has been documented cases where people have spent way beyond their annual payment. Weather lump sum or annuity, a
Feb 17, 2003, 2:39 pm - pegleg - Lottery Discussion Forum

Warning! Warning!! Warning!!Reply
Todd,Yes, I give advices on certain situations. I never said... Always choose Annuity. I simply said... when one wins the lottery over a certain threshold, choosing the annuity option makes total sense especially when they do not have experience in the financial fields or backgrounds in tax. They can hire professionals to manage their money but then again, you're not taking full control and those professionals want one thing from you - MONEY! Now, there are certain circumstances involved. P
Jan 17, 2003, 9:55 am - AnnuityIsGreat - Lottery Discussion Forum

Warning! Warning!! Warning!!Reply
Come on, there's room for people who like Cash and Annuity. Choosing one or the other doesn't make one stupid, we all make choices and have to live with them.Annuity... I'd be interested to hear your analysis about situations where you feel it would be better to choose annuity. If you regularly give others advice about tax matters, then certainly you recognize that there may be some situations where it would be better for a player to choose the lump sum. Can you give us a breakdown of when yo
Jan 17, 2003, 8:51 am - Todd - Lottery Discussion Forum

Annuity Option a waste?Reply
Very interesting question. US lotteries probably began paying winners through annuities even before NY Lotto began in 1978. I suppose annuity sellers wanted to get in on the action back then. I don't think the big US lotto games will drop the annuity OPTION because they would no longer be able to advertise the inflated amounts. Whether even longer annuities will be part of US jackpots...It must be remembered that various instant scratch games are still ANNUITY-ONLY, as well as the Mass. 6/42 a
Dec 21, 2002, 3:32 am - CASH Only - Lottery Discussion Forum

Lottery player/winner advice ?Reply
Even with an annuity you still get taxed on the whole thing dventually. Lets say someone gives you a $1000 annuity that matures in one year. They pay $900 for it. When you sell the annuity at the end of the year you will pay taxes on $1000. Which is the principal and the interest. This is what the lottery commision does. They buy 26 annuities, the first one matures in one year, the second one matures in 2 years. and so on. All the money is divided up to make each payment equal. When you choose t
Sep 7, 2002, 4:14 am - Thomas Covenant - Lottery Discussion Forum

Lottery player/winner advice ?Reply
What about the fact that in a lump sum you receive after tax money where as annuity, govt invests pre tax money in annuity and taxes you on the return? Lets say you win 100 mil jacpot. If you take lumpsum, you will only get 58 million out of which they withhold 27.5% federal and applicable state taxes. In reality, a jackpot mean, you have to paay 39.6% federal taxes. So proprbably 45% taxes (assuming 5% state tax) will be paid by you. That means out of 58 mil, you will have 26 mil will be paid
Sep 7, 2002, 3:11 am - gary - Lottery Discussion Forum

Lottery player/winner advice ?
Re the article posted this morning on financial advice upon winning: I've not commenting on the fact that the 60-day rule does not apply for all games where players have the choice of cash or annuity. Rather, the Mr Don Haisman mentioned in the story apparently is trying to say that most lottery players/winners should not choose the lump sum. I respectfully disagree of course. It must be remembered that the 30 payments in FL Lotto and in several other games (and Powerball starting next month)
Sep 4, 2002, 4:41 am - CASH Only - Lottery Discussion Forum

CASH Only...a questionReply
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
Jul 13, 2002, 6:10 pm - CASH Only - Lottery Discussion Forum

Check this out Jabroni's!!!
A good example of why not to choose annuity and to choose cash/lump. The Rock bet you jabroni's did not even read the front page of biggamelottery.com did you jabroni. Mass wants to cut into their lottery programs to gobble up more money for them to waste and this will decrease payout and make it lower. Well jabroni's The Rock does not have to worry about that because when he hits this mega million jackpot he will choose the lump sum because aint no crooked politician going to put his dirty litt
Jul 8, 2002, 11:47 am - therock - Lottery Discussion Forum

IMPORTANT NOTICE to PA Lottery players!
Powerball comes to the Keystone State tomorrow! Unlike Super-6 Lotto (and in NY state), the cash/annuity choice is made AFTER you win! (PLEASE NOTE: All Powerball tickets from PA will say annuity -HOWEVER, all Powerball winners can choose lump sum AFTER winning. Unfortunately, Super-6 tickets marked annuity (and NY tickets with 26 ANNUAL PAYMENTS ) _cannot_ be changed to cash.) ALSO: South Carolina is expected to join Powerball in early October. The third edition of Powerball is supposed t
Jun 26, 2002, 3:47 pm - CASH Only - Lottery Discussion Forum