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N.C. woman takes $8 million lottery prize as $400,000 a year annuityNews Story
A North Carolina woman tried her luck on a $50 scratch-off and won the $8 million top prize that she will collect in $400,000 annual payments for 20 years. Latonya Rayford of Charlotte bought her lucky $8 Million Money Maker ticket from the BP Food Mart on West Sugar Creek Road in Charlotte. When Rayford arrived at lottery headquarters Monday to collect her winnings, she had a decision to make. She could choose to receive her prize as an annuity of $400,000 a year over 20 years or a lump
Jul 10, 2025, 11:04 am - Todd - Lottery News

Joining a lottery club?Reply
It would be too hard to get a group of pool players to agree to taking the annuity unless they are all family about the same age. Pool players are in a pool because they want to get the money and be done with it. And they want immediate control of their share. As an individual winner, at my age, it would make sense to take the lump sum for three reasons. 1) The possibility of growing the money faster. 2) Taxes would be paid at today's rate (37%). 3) Avoiding a huge tax on the kids in
Mar 31, 2023, 12:35 am - garyo1954 - Lottery Discussion Forum

$1.2 BILLION: Powerball jackpot grows to 4th-largest in historyReply
I believe this will be a record-breaking Jackpot! I think it's got a very good chance of setting a record if it hasn't already. We've had 38 rollovers so far, which is at least close to a record for PB (and maybe MM). That we didn't see an increase in the advertised jackpot today makes me think it's not going to get much past 1.2 billion, and that makes me think that even with another rollover it might not set a new annuity record by Saturday. Of course that would only be a pretend reco
Nov 1, 2022, 10:13 pm - KY Floyd - Lottery News

Lotto AmericaReply
That PB picking was luck as opposed to strategy....Thanks though..... But I did find something a bit unique with the L.A increases..... As we have posted the next estimated jackpot annuity and cash value jackpots. Look at the previous posting where TSC showed the Annuity for (3/05/22) draw @ $8.55 Million! and I posted the cash value @ $5,690,000.00 .................... The new posting for the draw on 3/09/22 is at: $8.6 Million Annuity $5.89 Million Cash Value..... So my question
Mar 6, 2022, 11:38 am - CDanaT - Jackpot Games Forum

If you won big - would you take the cash option or annuity?Reply
so they can't access the lump sum You can always access the lump sum unless you invest it all in something nobody else wants to buy. The only questions are how easy it will be and how much you'll lose by turning it into cash. Especially with the very low interest rates funding the annuity right now I can't see any financial benefit to taking the annuity a nd being locked into those low rates. If you take the cash now and rates go up in the future you can invest at those higher rates. Rig
Apr 26, 2021, 11:11 pm - KY Floyd - Lottery Discussion Forum

$522 MILLION: Mega Millions jackpot increased againReply
Buylow, Are you aware you don't have to take the cash option on the entire thing (and pay all the taxes) then get hit with limits on gift tax and other things when you try setting up trusts or buying CDARS. You can create a trust, then split the ticket to go directly into the trust (depending on the state). And with that split can be paid out lump sum or annuity. Speaking of annuity, instead paying taxes on lump sum, then buying 50Mill$ of CDARS. You can make a 50Million$ split to pay
Jul 24, 2018, 5:26 pm - Sarge0202 - Lottery News

MM Annuity for Tuesday 6/19/2018
My calculations for the Total MM payout for the Annuity = $110,250,000.00 The First year check here in CA = $1,659,420.90 My thoughts about all those winners who chose the Lump Sum and lost it all brings me to the Holy Bible. Here is a quote, He who hastens to be rich shall not go unpunished. I believe that when I win this MM and take the first year check I will be set. I do not know the date of my death or incapacitation. We are living longer than expected. Some of the ri
Jun 16, 2018, 5:06 am - music* - Jackpot Games Forum

Annuity vs Cash ValueReply
Taken from: http://www.megamillions.com/difference-between-cash-value-and-annuity Difference Between Cash Value and Annuity If you win a Mega Millions jackpot, you will choose how to be paid: Cash Option or Annual Payout. Prize claim parameters vary from state to state. Contact your Mega Millions lottery for detailed information. Annuity option: The Mega Millions annuity is paid out as one immediate payment followed by 29 annual payments. Each payment is 5% bigger than the previous on
Aug 2, 2016, 5:01 pm - TheMeatman2005 - Lottery Discussion Forum

Why not choose the annuity?Reply
As Stack47 mentioned above: It doesn't necessarily means she wants it now but the annuity ties up HER MONEY for the next 29 years. Next time you speak with your financial adviser ask which they would recommend. That's the biggest issue I have with taking the annuity if it were me. That it would tie up MY MONEY that I managed to finally win after beating astronomical odds, a once-in-a-lifetime amazing occurrence that few get to enjoy, and .... I get it drip-fed to me over decades. It's not
Aug 2, 2014, 10:52 am - Pita Maha - Lottery Discussion Forum

Why Do You Think Lottery Winners Always Take The Cash Option?Reply
Confused? It seems you are the one who doesn't understand basic arithmetic. The annual interest earned on both PB and MM jackpot annuities is just a tad over 2%. Any competent investor or firm can and should easily double those returns. Lets say in five years our Government follows in the footsteps of socialist France and implements their 1.5% annual wealth tax along with the top tier tax rate of 75%. Without factoring any potential investment gains from the lump sum, the total net will far e
Feb 15, 2014, 11:00 am - Jill34786 - Lottery Discussion Forum