Annuity/record jackpot

Reply #28

sirbrad — Thu, 17 Nov 2005 02:38:24 GMT

Yeah it would be kind of contradicting to see, Annual Payments has selected a one time lump sum payment. Although it would very humorous. Better yet, Cash Only chose the annuity option.

Reply #27

Chewie — Thu, 17 Nov 2005 02:19:23 GMT

The advantage goes to the winner, choose whichever you want. The rest of us will keep thinking how to improve on the previous winner.

Reply #26

Annual Payments — Thu, 17 Nov 2005 01:55:44 GMT

The wrong choice? Cash, you better believe if I win a huge jackpot, you will see Annuity or AP next to my name. IF I win TX Lotto or Mega Millions, you will see AP, not CVO, next to the winning ticket shown on the site.

Reply #25

sirbrad — Mon, 14 Nov 2005 03:25:00 GMT

No choice is a bad choice when millions are involved, and you are already dirt poor. It all depends on how greedy, and impatient one is. Personally I will not be complaining when I win. Even with an annuity I will have much more than I do now, and will be doing a lot less work. But at least I can do the work that I want to do, and as much as I want to, even if I want to. But at least I will be working to make myself more rich, not someone else.

Reply #24

nomoneybabe — Mon, 14 Nov 2005 03:19:15 GMT

Hello Chewie: Your words are so interesting and meaningful...But this is a special game, and you should remember a thing that: you can not choose what amount you will win and when you will win ...and then If you don't win the huge jackpot then another will !!!so, go ahead to dream..dream as much as we want ...and I think the best thing (properly, similiar to you words) is sharing the money to the need when you were already a winner.

Reply #23

BaristaExpress — Sun, 13 Nov 2005 05:10:37 GMT

For some reason people get a lot more excited about the thought of winning $300 million than just $10 million. It's ridiculous. No it's called being human with big dreams of winning the Big One

Reply #22

justxploring — Sun, 13 Nov 2005 05:00:08 GMT

Agree. If I won $310 million along with 30 other people, I wouldn't complain! Obviously the states have increased the odds for most games because they feel more people buy tickets as a jackpot grows. Actually that's true. For some reason people get a lot more excited about the thought of winning $300 million than just $10 million. It's ridiculous.

Reply #21

sirbrad — Sun, 13 Nov 2005 02:11:12 GMT

Exactly, I wanted to win so badly a week or two after the $340 million was won, and before they stepped up to claim it. I would be virtually invisible with my mere 10 million or so. In fact I still hope I win tonight, so people can say that is nothing compared to what the West family won, and they can even laugh at the amount, I will be grateful.The press would not even have wanted to bother with me while awaiting the winners of the $340 million to step forward. In fact I still have not heard an... [ More ]

Reply #20

Chewie — Sun, 13 Nov 2005 01:05:15 GMT

Why want a dollar amount broken? Why not want a number of jackpots won record broken? I would enjoy winning a smaller jackpot, then reading about some one else winning a monster jackpot. The sooner a win, the sooner the following jackpot can start. The sooner a new jackpot starts, the sooner another winner. Wanting to throw away dollar(s) after dollar(s) week after week, for a record, makes no sense to me.I am in this to win a jackpot. I don't care about the size

Reply #19

Just6ntlc — Fri, 11 Nov 2005 23:33:27 GMT

I would say no because if people win huge jackpots, I think they'll choose cash option. Besides, I pick cash option if I ever won a big jackpot. I hope MM gets a big run and breaks their own North American record.

Reply #18

Chewie — Fri, 11 Nov 2005 18:06:32 GMT

Point taken

Reply #17

justxploring — Fri, 11 Nov 2005 17:16:35 GMT

You want more, or should want more, so that those who carry your DNA into the 30th Century will have a comfortable life. Not wanting to increase your wealth is like saying, screw you future people with my DNA . I don't want to get into a battle here, Chewie, but you're barking up the wrong tree when you write something like that to me. But I suppose anyone can take someone's comments and interpret them any way he wants. Regarding my DNA, I have no children. However, I'm one of the few people... [ More ]

Reply #16

Chewie — Fri, 11 Nov 2005 14:40:16 GMT

By definition, annuity is futures. Therefore, you can, in the long run, buy a larger annuity. You can also wind up with less. You could break even. You could buy the right items and become another Bill Gates.Or, you could just dream about it. Like we all do.

Reply #15

Raven62 — Fri, 11 Nov 2005 14:08:10 GMT

Quote: Choose cash. You can use it to buy a bigger annuity. After paying Taxes on the Lump Sum Distribution you will not have enough Money left to Purchase an Annuity that is Greater than or Equal to The Annuity from The Lottery Commission.

Reply #14

Chewie — Fri, 11 Nov 2005 13:47:00 GMT

Its all about the choice. Every one, who wins, can choose whatever they want. They can let some one else manage the money and hope nothing goes wrong, or tax laws don't change, and live happily ever after. Of, they choose the second option, do their own investing, and hope nothing goes wrong, or tax laws don't change, and live happily ever after. One obvious conclusion you missed is the longevity of money. You want more, or should want more, so that those who carry your DNA into the 30th Cen... [ More ]

Reply #13

justxploring — Fri, 11 Nov 2005 08:11:33 GMT

I'd probably find an attorney who specializes in estate tax, trusts and other financial investments. The title financial advisor is widely used by accountants, insurance agents and other consultants. This board isn't about me, so I won't get too personal, but a so-called financial planner from one of those big investment firms rolled over my 401K into tech stocks in 2000. Enough said? I went back to school at night and got my own license, although I'll probably have to work until I'm 90. Ma... [ More ]

Reply #12

sirbrad — Fri, 11 Nov 2005 07:43:58 GMT

I would be tempted to take the annuity just for record breaking purposes. Anything 5 million or less, I would most likely choose annuity. It would depend on my current situation though.

Reply #11

JimmySand9 — Fri, 11 Nov 2005 05:20:12 GMT

The vast majority choose cash. And since so few people win huge jackpots like that, we'll only be seeing people making the right choice.

Reply #10

sirbrad — Fri, 11 Nov 2005 04:18:19 GMT

Reply #9

Bradly_60 — Fri, 11 Nov 2005 04:17:19 GMT

When people win that size of money they get financial advisors.....and it any financial advisor told them to take the annuity you could expect that so called financial advisor to be disbared and thrown out of town.Brad

Reply #8

lchoro — Fri, 11 Nov 2005 04:01:19 GMT

It all depends on the size of the lottery prize. If it's a 3-million dollar prize, you won't have much left after paying taxes and paying for the cost of an average home in many metropolitan areas. It would make more sense to take the annuity and take advantage of the tax deductions for the interest and the property taxes. A 30-year 3-million dollar prize equates to a $ 100,000 annual payment. Your average tax rate would drop to 12.7 percent after personal exemptions of $ 8000 each year for the... [ More ]

Reply #7

BaristaExpress — Fri, 11 Nov 2005 03:09:52 GMT

Awe, annuity or cash, which should I choose? I for one will take the cash every time! The annuity is more suited for others who don't have the skills to manage financial matters (of any size). As I see it, it all comes down to who wishes to pay more in taxes to Uncle Sam and their state (if the ladder applies) over the years of the annuity! Taking the cash option in the long run pays less taxes (depending on how it was invested) over the same years of the annuity! But everyone is different and t... [ More ]

Reply #6

Chewie — Fri, 11 Nov 2005 01:11:01 GMT

With the lottery I get all the exercise I need. I like that.My favorite is: Every time I think about exerise, I lay down until the feeling goes away.

Reply #5

DirtyWrat — Thu, 10 Nov 2005 22:38:41 GMT

Cash only-I think we all know where you stand on the issue of cash or annuity. I believe you have made yourself perfectly clear many, many, times.I can't speak for anyone else; but I, for one, am sick of it.Please don't take this the wrong way. I'm really not trying to be mean, but your constant ranting about taking cash is getting tiresome.I do like to come here and read what everyone posts (chewie ripsnorter are something else!) so please refraine from re-hashing this subject again, or I wil... [ More ]

Reply #4

ryanm — Thu, 10 Nov 2005 21:37:29 GMT

If one doesn't have very good control of money, annuity will not help, because the winner could screw it up by borrowing against the future annuity payments.

Reply #3

lchoro — Thu, 10 Nov 2005 20:24:43 GMT

I saw in the papers that there's only been 2 winners of the Powerball that have chosen the annuity payout over the past three years. It doesn't seem to be a topic worth beating into the ground. There's clearly no distinct advantage for most people to choose the annuity when the prizes getinto the realm of the Powerball and Mega Millions payouts.

Reply #2

bellyache — Thu, 10 Nov 2005 18:57:35 GMT

I perfer to take the cash option. But if someone wants to take annuity that's fine too. It may work out best for that person. Maybe that person doesn't have very good control of money. The cash option isn't for everyone. It's good to look at things from both sides Cash.

Reply #1

Chewie — Thu, 10 Nov 2005 18:43:01 GMT

There is no wrong choice. Money is money. At some point, you can't spend one amount faster then the other. It is still money. I prefer cash, but annuity is not wong . The better mouse trap has yet to be invented, and the better use for the annuity is still out there.

Annuity/record jackpot

CASH Only — Thu, 10 Nov 2005 14:37:30 GMT

For the past several years, whenever the record for largest US jackpot win has been set, including last month, the winner(s) chose cash. Will a future record-breaker ever make the wrong choice