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

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  • Majingir
    Moderator
    • Apr 2005
    • 47510

    #106
    Re: Which payment option would you choose if you won the lottery?

    Replying to OP, I'd probably take annual. Makes it less tempting to spend alot if you only get 100k a year vs 2M at once. And you could just use the 100k like a job salary.

    Though 2m would be nice too. Buy a 1.5M house, let the value go up over time,and make even more

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    • Scott
      Your Go-to TV Expert
      • Jul 2002
      • 20032

      #107
      Re: Which payment option would you choose if you won the lottery?

      I'd still take the annual payout..I'd likely keep a stress-free job as well.
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      • dsallupinyaarea
        Rookie
        • Jan 2009
        • 2764

        #108
        Re: Which payment option would you choose if you won the lottery?

        I'd take the lump sum and I wouldn't be very responsible with it.

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        • Majingir
          Moderator
          • Apr 2005
          • 47510

          #109
          Re: Which payment option would you choose if you won the lottery?

          Originally posted by dsallupinyaarea
          I'd take the lump sum and I wouldn't be very responsible with it.

          Sent from my SM-N900T using Tapatalk

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          • 55
            Banned
            • Mar 2006
            • 20857

            #110
            Re: Which payment option would you choose if you won the lottery?

            Well, I'm in...
            Attached Files

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

              #111
              Re: Which payment option would you choose if you won the lottery?

              Originally posted by dsallupinyaarea
              I'd take the lump sum and I wouldn't be very responsible with it.

              Sent from my SM-N900T using Tapatalk
              <iframe width="560" height="315" src="https://www.youtube.com/embed/IvE84AGMWpE" frameborder="0" allowfullscreen></iframe>



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              • LowerWolf
                Hall Of Fame
                • Jun 2006
                • 12268

                #112
                Re: Which payment option would you choose if you won the lottery?

                Originally posted by Fresh Tendrils
                <iframe width="560" height="315" src="https://www.youtube.com/embed/IvE84AGMWpE" frameborder="0" allowfullscreen></iframe>
                Even Kap is buying Powerball tickets!
                Last edited by LowerWolf; 01-10-2016, 01:47 AM.

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                • 55
                  Banned
                  • Mar 2006
                  • 20857

                  #113
                  Re: Which payment option would you choose if you won the lottery?

                  $1,300,000,000 jackpot now, guys...

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                  • jack1535
                    MVP
                    • Mar 2010
                    • 1789

                    #114
                    Re: Which payment option would you choose if you won the lottery?

                    Lump sum is always better. So many options to invest and pay off debts you may have right away
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                    • kehlis
                      Moderator
                      • Jul 2008
                      • 27738

                      #115
                      Re: Which payment option would you choose if you won the lottery?

                      Originally posted by jack1535
                      Lump sum is always better. So many options to invest and pay off debts you may have right away
                      Unless you have an unreal amount of debt even your first payout in the annual plan should be enough to pay off your debts.

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                      • dickey1331
                        Everyday is Faceurary!
                        • Sep 2009
                        • 14285

                        #116
                        Re: Which payment option would you choose if you won the lottery?

                        From my understanding if you take the over 20 option and you die. You can't pass it on so there would be no point in doing that.
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                        • NDAlum
                          ND
                          • Jun 2010
                          • 11453

                          #117
                          Re: Which payment option would you choose if you won the lottery?

                          Welp even I'm going to play now. $1.3B

                          It'll be $10 for entertainment
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                          • kehlis
                            Moderator
                            • Jul 2008
                            • 27738

                            #118
                            Re: Which payment option would you choose if you won the lottery?

                            LUMP SUM VS. LIFETIME PAYOUT
                            Once you beat the astronomical odds and win, you'll get to choose between being paid $1.3 billion through annual payments over 29 years or one $806 million cash payment. Those figures are before federal and state taxes, which will eat up roughly half of the cash-option prize. Your best bet? Take the annuity to avoid the risk of overspending or an investment mishap, according to Olivia S. Mitchell, a professor of insurance and risk management at the Wharton School at the University of Pennsylvania.
                            Just saw this story tonight.

                            I guarantee you that I would take the lump sum but I think it's pretty clear that the annuity is the safer bet for so many reasons.

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                            • Knight165
                              *ll St*r
                              • Feb 2003
                              • 24964

                              #119
                              Re: Which payment option would you choose if you won the lottery?

                              Originally posted by kehlis
                              Just saw this story tonight.

                              I guarantee you that I would take the lump sum but I think it's pretty clear that the annuity is the safer bet for so many reasons.
                              1-If you can overspend 400+ million dollars...you don't deserve to have it.
                              2-If you just find an investment that returns a measly 2%(which I would say would have to be one safe investment)...that's 8 million per in gains or roughly 4 million per to spend without ever touching the actual capital.
                              You can't live on 4 million per? *******.....see #1
                              3-If you take the annuals....and overdose on cocaine and hookers...your **** out of luck(obviously) as well as your family. Dumb....see #1
                              4-WHO THE **** WOULDN'T WANT 400 million dollars all at once!!!!

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                              Knight165
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                              • The JareBear
                                Be Good To One Another
                                • Jul 2010
                                • 11560

                                #120
                                Re: Which payment option would you choose if you won the lottery?

                                I've never bought a lotto ticket in my life but it seems dumb not to buy a ticket now.

                                I just go into 7/11 and say I want to spend "X amount" on powerball quick picks, right? Dumb as hell question, I know, again I've never played before.
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