Which payment option would you choose if you won the lottery?

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  • Fresh Tendrils
    Strike Hard and Fade Away
    • Jul 2002
    • 36131

    #16
    Re: Which payment option would you choose if you won the lottery?

    Originally posted by Kriech23
    I'm not sure what you're saying here. After the 30 years I'll have over $3 million compared to your $2.2 million. Obviously that is quite sometime, but there is no need for me to just pocket $2.2 mil right now. Cost of living is going to increase on you as well, which means I'll have just have a few more dollars than you, if we both do not invest, etc.
    But I'll have 2.2mil to invest and collect interest on. The same amount of money is worth more now than it will be in the future. Time-value of money.



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    • dickey1331
      Everyday is Faceurary!
      • Sep 2009
      • 14285

      #17
      Annual payments. Makes sure you don't blow it all at once and you are able to live comfortably.


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      • Bighoff
        The Bird is the word
        • Jul 2002
        • 5312

        #18
        Re: Which payment option would you choose if you won the lottery?

        With a "small" jackpot like this I'd go annual payments, it's like winning a 100k per year job. I can ride that bad boy to retirement and working becomes an option. With the a large lump sum I'd take the money and buy a small island in the Mediterranean.
        I've heard this "patience is a virtue" junk all my life. I'm happy to say I have no virtue, no scruples, and no desire to wait too long for anything. In my humble opinion instant gratification takes too long!

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        • LionsFanNJ
          All Star
          • Apr 2006
          • 9464

          #19
          Re: Which payment option would you choose if you won the lottery?

          Lump sum. I know i'm not going to live another 30 years, so i want the lump sum to have now and invest it where i can. Even if its just for the interest.
          HELLO BROOKYLN.
          All Black Everything

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          • Gotmadskillzson
            Live your life
            • Apr 2008
            • 23442

            #20
            Re: Which payment option would you choose if you won the lottery?

            Lump sum........You never know you will still be alive 30 years from now.

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            • canes21
              Hall Of Fame
              • Sep 2008
              • 22939

              #21
              Re: Which payment option would you choose if you won the lottery?

              Lump sum, make some investments, save some, and you can easily turn it into a much larger amount of money.
              “No one is more hated than he who speaks the truth.”


              ― Plato

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              • RockinDaMike
                All Star
                • Feb 2003
                • 9092

                #22
                lump sum for sure. I would start a business, like a hotel or food franchise.
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                • Buckeyes_Doc
                  In Dalton I Trust
                  • Jan 2009
                  • 11918

                  #23
                  Re: Which payment option would you choose if you won the lottery?

                  Lump sum. I want the money now.
                  Ohio State - Reds - Bengals - Blackhawks - Bulls

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                  • daflyboys
                    Banned
                    • May 2003
                    • 18238

                    #24
                    Re: Which payment option would you choose if you won the lottery?

                    I recently won the Polish National Millionaire's Lottery....

                    Spoiler

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                    • SuperBowlNachos
                      All Star
                      • Jul 2004
                      • 10218

                      #25
                      Re: Which payment option would you choose if you won the lottery?

                      Under your scenario, annual payments. If it was like a 100 million dollar win I'd take the lump and be fine with 50 mil.

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                      • Pappy Knuckles
                        LORDTHUNDERBIRD
                        • Sep 2004
                        • 15966

                        #26
                        Re: Which payment option would you choose if you won the lottery?

                        Lump Sum for sure.

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                        • KingV2k3
                          Senior Circuit
                          • May 2003
                          • 5881

                          #27
                          Re: Which payment option would you choose if you won the lottery?

                          Originally posted by Gotmadskillzson
                          Lump sum........You never know you will still be alive 30 years from now.
                          I'm taking "The Lump" as well, but not because I fear I won't be around in 30 years...

                          I'm starting to doubt that ANY agency / state entrusted with the payout might not / prob won't be be solvent long enough to get me MY $$$...

                          Comment

                          • Bellsprout
                            Hard Times.
                            • Oct 2009
                            • 25652

                            #28
                            Re: Which payment option would you choose if you won the lottery?

                            I'd throw it on the ground. I don't need their handouts. I'm an adult.

                            In all seriousness, probably lump sum. I'd probably transfer somewhere I actually wanted to live so when I finished college I could find a job there, then once I find that job I'll have enough left for a house, car, all that jazz.
                            Member: OS Uni Snob Association | Twitter: @MyNameIsJesseG | #WT4M | #WatchTheWorldBurn
                            Originally posted by l3ulvl
                            A lot of you guys seem pretty cool, but you have wieners.

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                            • Fresh Tendrils
                              Strike Hard and Fade Away
                              • Jul 2002
                              • 36131

                              #29
                              Re: Which payment option would you choose if you won the lottery?

                              Originally posted by Dayman
                              I'd throw it on the ground. I don't need their handouts. I'm an adult.

                              In all seriousness, probably lump sum. I'd probably transfer somewhere I actually wanted to live so when I finished college I could find a job there, then once I find that job I'll have enough left for a house, car, all that jazz.
                              Who are you kidding? You'd buy an RV and camp outside of Zooey's house.



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                              • 24
                                Forever A Legend
                                • Sep 2008
                                • 2809

                                #30
                                Re: Which payment option would you choose if you won the lottery?

                                Lump sum is always the way to go. You have to add in the time value of money when it comes to the lottery. 100,000 dollars now will not be the same as 100,000 in 30 years because the value of the U.S currency could decrease/increase. You might also die within a 30 year period so the chance of you getting that full amount of money lessens.


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