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

[shugknight]

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

If you live in AZ or MO, check your tickets..

[gerg1234]

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

I have no idea what i'm going to do with my lottery winnings....all $4 of it. I'll probably go the annual payment route with this.

[JODYE]

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

As others have echoed, it depends on the size.

I'd lean towards annual installments. That way I could manage the money like it was job, instead of just getting a wad of cash thrown at me and tempting me to go blow stacks lmao

The opposite side, as others have mentioned is taking the wad, and investing it and collecting a mass amount of interest.

[shugknight]

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

I have no idea what i'm going to do with my lottery winnings....all $4 of it. I'll probably go the annual payment route with this.

You're going to get ripped off by those taxes!

[aukevin]

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

Lump sum, live for the moment!

[CMH]

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

I heard that should you opt for the annuity payments, if you die, they don't automatically carry over to your estate. I would take the lump sum. Pay off my debt (mortgage, car, credit cards) and invest 80% of it.

I wondered this and now that I know, I'd take the lump sum.

I would hope I'm smart enough to not blow all of my money.

Then again, that's probably why I would never win the lotto.

[Majingir]

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

I'd take the first one. It'd basically be like getting 100k a year from working, and if you do still decide to work at times, at a "dream job" but didn't want to before cause of how little it paid, now you could.

[TheMatrix31]

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

I would have taken the 26 annual payments but now, I'm not so sure. Taxes would be hitting on each individual payment based on the rate at that time, right?

Might be better to take the lump.

[Majingir]

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

I would have taken the 26 annual payments but now, I'm not so sure. Taxes would be hitting on each individual payment based on the rate at that time, right?

Might be better to take the lump.

But won't you get taxed more, for the more money you have at once?

[superjames1992]

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

The future is way to uncertain to assume that in 20-30 years the money will still be there to be paid out.

That, and inflation will surely take its toll. The money could be worth half or a fourth of what it is worth now in 20-30 years.

If you invest the money wisely (something no lottery winner seems to do), I think taking the lump sum would work out best.

Taking the annual payments is the safest thing to do, though. It would be a tough choice.

[TheMatrix31]

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

But won't you get taxed more, for the more money you have at once?

I dunno. I guess there are various factors involved.

[Tovarich]

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

If you live in AZ or MO, check your tickets..

Lame, the guy who bought the ticket in Arizona actually lives in Maryland. Oh well, I'm sure Jan Brewer appreciates all the tax money the state will get.

[55]

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

Good night to bump this.

Powerball jackpot is 900 million bucks tonight.

Good luck, guys.

[dickey1331]

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

Which is just a ridiculous amount

[TripleCrown9]

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

The cash payout when I bought mine a couple hours ago was 558 million.

Gotta take that lump sum.