Latest Powerball Winner Chooses ANNUITY

Reply #12

Blalron — Thu, 17 Mar 2005 19:05:13 GMT

Quote: Originally posted by ryanm on March 8, 2005 Maybe she doesn't want to quit her job as it would set a bad example for her children.Ok. I can see the value in that, but would you really want to keep working at a gas station if you were a Powerball winner

Reply #11

Annual Payments — Wed, 09 Mar 2005 05:37:25 GMT

I'm 23 and i think everyone know what my choice would be

Reply #10

Annual Payments — Wed, 09 Mar 2005 05:36:12 GMT

YEAHHHHHHH!!!!! finally someone took annual payments. ohhhhh that's so great

Reply #9

ryanm — Wed, 09 Mar 2005 03:55:09 GMT

Maybe she doesn't want to quit her job as it would set a bad example for her children.

Reply #8

Blalron — Wed, 09 Mar 2005 03:49:53 GMT

Barbara, who is 28, works at the Meijer gas station on Indiana Highway 37 in Noblesville. Her boss happened to call her last night to offer her a half day off for putting in so many hours recently. She asked for a full day, given her Powerball win, and her boss easily allowed her the leeway. http://www.powerball.com/powerball/winners/2005/030505in.shtmA day off? I'd just quit.

Reply #7

ryanm — Wed, 09 Mar 2005 02:10:59 GMT

Sad, but true. I guess for some people, the annuity would be slightly better as they would blow all their winnings in 30 years instead of just two-five

Reply #6

RJOh — Wed, 09 Mar 2005 01:09:32 GMT

Quote: Originally posted by ryanm on March 8, 2005they could have accomplished the same thing by purchasing their own annuity **If you're not financially smart, then the State is probably as good of an organization to trust with your annuity as you can find.RJOh

Reply #5

bd2lucky — Tue, 08 Mar 2005 23:04:52 GMT

Being 20 years old myself I would choose annunity.

Reply #4

ryanm — Tue, 08 Mar 2005 23:01:47 GMT

That could be true. However, they could have accomplished the same thing by purchasing their own annuity, perhaps municipal bonds, so they could get the interest tax-free, at least at the federal level. Also, didn't someone here once say that it's more of a gamble to take the annuity than to take cash because of the uncertainty of future payments? You don't know what will happen to lotteries and the related laws over the next thirty years.

Reply #3

DoctorEw220 — Tue, 08 Mar 2005 22:53:24 GMT

that and $10.8 million is too small a cash option. perhaps they wanted to have it there for their kids' future.

Reply #2

RJOh — Tue, 08 Mar 2005 22:34:25 GMT

Quote: Originally posted by ryanm on March 8, 2005So much for Cash Only's theory that those who choose annuity will never win a jackpot!They both look to be under 30 yrs. old, so annuity could be a good choice for them, beside what does Cash Only really know about winning a lottery jackpot?RJOh

Reply #1

twisted — Tue, 08 Mar 2005 22:00:08 GMT

I dont think they were prepared to win. Since they didnt wait long before clamining the prize, they probably didnt consult a financial advisor or a tax accountant/attorney before claiming. Hence, they selected to receive the yearly installments.

Latest Powerball Winner Chooses ANNUITY

ryanm — Tue, 08 Mar 2005 21:23:55 GMT

For the first time in a long time, a Powerball jackpot winner actually chose to receive the prize in 30-year payments instead of as a lump sum. So much for Cash Only's theory that those who choose annuity will never win a jackpot!http://www.powerball.com/powerball/pb_stories.asp BTW, the latest winner was from Indiana, not Idaho. They've messed up on that page.