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Lottery player/winner advice ?Reply
You given an opinion not fact, the fact is people as whole are bad money managers even with the annuity 70% of lottery winners squander their winnings just think how that is with a lump sum. An getting a lawyer and accountant is not going to save you just ask those Enron and Worldcom folks who had Arthur Anderson (premier accounting firm) doing the auditing meant that their retirement was okay. The key is YOU MUST DO THE HOMEWORK AND FIGURE OUT WHAT IS BEST FOR YOU. YOU TAKE EVERYTHING UNDER
Sep 9, 2002, 12:17 pm - Guest - Lottery Discussion Forum

Lottery player/winner advice ?Reply
Gary,It's always a better investment to take the lump sum.Let's use your example, and say that you have a choicewhether to take $100 million over 25 annual payments of$2.2 million each (55% of $4 million), or $32 million ina single lump sum.The average annual return on common stocks is between10.2% and 11%; so let's assume 10.6%.If you take the annuity, and invest $2.2 million(55% of $4 million) each year for 25 years, after 25years you'll have $262 million. On the other hand, ifyou take the $32
Sep 7, 2002, 9:20 am - rdarmand - Lottery Discussion Forum

Michigans new $20 ticketReply
Michigan never pays out in annuity. There are a smart lottery. You get it in lump sum unlike many other states. That is why i wrote to the Michigan lottery yesterday and told them they are a good lottery.
Sep 6, 2002, 1:45 pm - Bradly_60 - Lottery Discussion Forum

NYC Mega Million winnersReply
Many of us remember when annuity was the only option (in fact, such is still the case with the Mass. 6/42 and 6/49, and various scratch games in Mass., N.Y., and possibly elsewhere.) Companies that sell annuities make money (theoretically) whenever a lottery winner does not collect in lump sum, regardless of whether a cash option was/is available. US lotteries gradually gave in starting with Oregon Megabucks in 1990, and even the US government helped with the 60-day rule in 1998, although it
Sep 5, 2002, 7:48 am - CASH Only - Lottery Discussion Forum

Lottery player/winner advice ?Reply
Secret4777: Your age doesn't matter. Choosing annuity payments from the lottery separates you from your money because you don't have control of your winnings after the first installment. Visiondude is right about taking the lump sum (in ALL circumstances). Your friends/relatives have no right to your winnings unless you owe them money.
Sep 5, 2002, 5:33 am - CASH Only - Lottery Discussion Forum

Lottery player/winner advice ?Reply
I would normally suggest the cash, but if you are in your twenties, a 25 year annuity plan would certainly discourage those greedy older relatives and friends from separating the money from you because they won't wait so long to take that gift away if most of it hasn't arrived yet.
Sep 5, 2002, 12:09 am - rundown99 - Lottery Discussion Forum

TX winner a potential loserReply
Convp: Allowing the lottery to assign an annuity to you is FOOLISH. If you win, get expert FINANCIAL/TAX/LEGAL advice so you can make sure the LUMP SUM works for you.
Sep 4, 2002, 2:55 pm - CASH Only - Jackpot Games Forum

NYC Mega Million winnersReply
I am not a proponent of the annuity option. In matter of fact, if I ever won, I would probably select the cash option. But I am still indecisive on the issue. After all, if either of those options were THAT bad, why would they even provide that option in the first place?
Sep 2, 2002, 3:55 pm - rundown99 - Lottery Discussion Forum

Never let lottery assign you an annuityReply
I myself was wondering whether cash is better or annuity. I haven't won a jackpot but I want to know just in case. Of the most recent powerball jackpot winners of the past 2 years, almost all of them selected cash, but what if they screw up in a bad investment?
Sep 2, 2002, 3:42 pm - rundown99 - Jackpot Games Forum

TX winner a potential loser
The article Todd posted this morning about the Houston-area Lotto Texas winner DID NOT mention that Lotto Texas has a cash option, which like California, and here in New York, must be exercised at the time of purchase. The article leads people (who casually follow US lotteries) to believe that Lotto Texas is like the Mass. 6/42 and 6/49 games, both of which are still ANNUITY-ONLY.
Aug 30, 2002, 7:17 am - CASH Only - Jackpot Games Forum