Search

$540 MILLION: Mega Millions buying frenzy sparks another jackpot increaseReply
I believe they set the annuity up to be assumed by their daughter when she reaches a certain age. At the time, rates may have favored that, but right now a person should really take the cash option because of the unbelievable payout amount (thanks to crappy economic numbers affecting rates) and uncertainty over future tax rates. Then, if desired an annuity can be established outside of the lottery.
Mar 29, 2012, 10:26 pm - LotteryLeroy - Lottery News

$540 MILLION: Mega Millions buying frenzy sparks another jackpot increaseReply
Because, sirbrad, different lottery companies run each game. Consequently, PB chose to increase annuity payment by 4% each 29 annual payments, yet MM chose to pay out each of their 26 annual annuity payments at the same amount each time. Note that both ways would require the winning receiver to pay the top Federal Income Tax Bracket each payment though.
Mar 29, 2012, 7:39 pm - HaveABall - Lottery News

$363 MILLION: Mega Millions lottery jackpot raised due to heavy salesReply
If I were younger I'd consider the annuity,too.But at my age I doubt if I have that many years left.So,I'll be taking the cash option if I should be lucky enough to win.I'll invest some of it so that my heirs will have a nice income as well.Who knows,maybe the lottery will file for bankruptcy protection in the future and leave all those people who chose the annuity option hanging out to dry.Stranger things have happened.
Mar 27, 2012, 2:15 pm - Cletu$2 - Lottery News

$363 MILLION: Mega Millions lottery jackpot raised due to heavy salesReply
It will be insane. Several years ago prior to interest rates plummeting the cash value of PB hovered around 48-52% while MM was 55-60% of the annuity value. This current jackpot has a cash value that is over 71% of the 26-year annuity.
Mar 26, 2012, 4:29 pm - Jill34786 - Lottery News

$241 MILLION: Mega Millions lottery frenzy ramps upReply
Searching4luck.....tell ya what, since you are still bent on the annuity issue ..take a look at all the Powerball winners and ALL the Mega Millions winners and see how many of them took the annuity versus taking the cash......wonder how many of them talked to financial advisers before accepting the jackpot ?? 2/3rds, 1/2 ??? I think those folks probably took their accountants advice and TOOK THE CASH !!!!!!...but like any winner, its yours to do with what you please....Best of luck in tonight's
Mar 17, 2012, 8:51 pm - CDanaT - Lottery News

$241 MILLION: Mega Millions lottery frenzy ramps upReply
That is correct...If the state you bought the ticket in has state income tax on lottery winnings, then you have to pay state AND federal income tax over the life of the annuity AND file a state income tax return federal income tax return each and every year of the annuity...That's why the cash option means you only pay the feds one time and the state one time for the tax year
Mar 17, 2012, 6:57 pm - CDanaT - Lottery News

New England states start new lottery game ThursdayReply
One thing you should take into consideration....Look at all the jackpot winners on both the Powerball and the MegaMillions over the last several years......How many took the CASH versus Annuity ? A reasonable educated guess is that enough of those winners consulted with a financial planner before they claimed....How many were told to take the annuity ??? Do you honestly believe these people went AGAINST their financial planners advice ??? Cash is king
Mar 14, 2012, 12:27 am - CDanaT - Lottery News

New England states start new lottery game ThursdayReply
Todd, you need to check your sources. Most lotteries are paid by the state lottery agency where the winner bought the ticket, NOT a bank. Also, the money for annuity payments in invested in US Bonds. If the gov't goes broke, a likely scenario given the current path we're on, your annuity bonds are worthless and your payments will cease...
Mar 13, 2012, 3:21 pm - rooster8786 - Lottery News

Question about Cash or AnnuityReply
listen , never ever take the annuity, unless you lack the confidence in yourself to hold onto your money. u are way better at having the lump sum invested even at the bare minimum u would make 4 percent on municipal bonds, u could live off this interest or grow your money way better than that 26 year annuity. and who knows what the dollar will be worth 26 years from now. just take the cash option.
Mar 10, 2012, 7:41 am - HiFi - Lottery Discussion Forum

PB 50M tonight.Reply
Cash is the only option, and much better than annuity, so annuity really doesn't count at all. So cash deserves giganto . :) It'll roll, cash $37m.
Mar 4, 2012, 12:07 am - Piaceri - Lottery Discussion Forum