Cash Vs Annuity Payments

Reply #98

rdgrnr — Mon, 26 Mar 2012 22:19:58 GMT

...before the buck is worthless.

I wish a buck was still silver and it was back when the country was strong.

It was back before Elvis and the Vietnam war came along.

Before The Beatles and Yesterday ,

When a man could still work, and still would.

Is the best of the free life behind us now?

Are the good times really over for good?

Are we rolling down hill like a snowball headed for hell?

With no kind of chance for the Flag or the Liberty bell?

I wish a Ford and... [ More ]

Reply #97

lejardin — Mon, 26 Mar 2012 21:10:06 GMT

ABSOLUTELY and totally agree with you.

And I agree, take the cash....but buy gold and silver who knows how long before the buck is worthless.

Reply #96

meetoo — Mon, 26 Mar 2012 21:02:26 GMT

Jones, that's why I just set it and forget it! Good luck

Reply #95

rdgrnr — Mon, 26 Mar 2012 20:52:33 GMT

Hey Jones,

I heard that Line-Dancing has replaced the Tango as the national pastime in Finland.

I have a word of advice for all the men in your country - Line Dancing is for wimmins.

Don't do it - stick with the Tango or go to Clog Dancin' or the Texas Two-Step or the Tennessee Waltz or something.

Just don't Line-Dance, you'll look like a fruitcake.

Reply #94

jones69 — Mon, 26 Mar 2012 19:48:06 GMT

It sometimes amazes me how much time and other resources I waste to lotteries. snip winnings maintain my addiction.

The chances to win are astronomical at best, so making detailed plans for post-jackpot might be complete waste of time,

but since I won my very first swimming race too, I can not be too pessimistic for the future what it holds for me.

This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam.

Reply #93

time*treat — Mon, 26 Mar 2012 04:18:20 GMT

100 years ago, 1912, the United Kingdom had an empire that spanned the globe, the world's reserve currency, and a brand new, shiny ship about to make its maiden voyage loaded with all the bells, whistles, and bigshots.

We all know what happened to the ship within a month, and to the country two years later.

Yeah, don't worry about a thing. Those O-rings will hold up just fine, too.

Reply #92

rdgrnr — Mon, 26 Mar 2012 01:38:45 GMT

You're probably right about that, lol.

Reply #91

mediabrat — Mon, 26 Mar 2012 01:30:38 GMT

If only Greece had thought to patent Greek yogurt. They'd be rolling in royalties right now

Reply #90

meetoo — Mon, 26 Mar 2012 01:25:45 GMT

I can see your point regarding an annuity at your age but if (when) America loses reserve status the American dollar could stand to lose much or all of it's value as we know it ( otherwise known as butt wipe ).

This scenario certainly makes a good case for investing some of it in gold/silver.

Reply #89

maximumfun — Sun, 25 Mar 2012 18:40:32 GMT

Fiscal responsibility should not be optional. It's no wonder that corporations as well as individuals are having such trouble overspending, maintaining any semblance of a budget, and living life beyond their means... one big example is our own government. No good comes from continual and unrestrained debt.

Reply #88

rdgrnr — Sun, 25 Mar 2012 16:21:20 GMT

Don't you worry about that.

Yeah, right. That's what they said for years in Greece.

Just keep spending, we'll never go broke.

Reply #87

mediabrat — Sun, 25 Mar 2012 07:13:34 GMT

Anyway, after reading posts about how the lottery/government could at some point withhold your payments due to some economic disaster or whatever the case is, I think I would feel more comfortable taking the cash option.

Don't you worry about that. It's nothing but a load of unfounded paranoia. Besides, if it ever does come to that, it's quite likely your money would be worthless no matter where you had it.

Reply #86

PoeticJustice32 — Sun, 25 Mar 2012 04:34:06 GMT

Wow. I always said that if I hit the lottery before I turn 30 (I'm 25) I would take the annuity. Not that I'm bad with money or anything. My dad actually calls me a cheap snip ....lol. I think I'm just more frugal than cheap. But I just like the idea of no matter what I do with x amount of annuity money, I will have another check coming in a year. Plus, I think I got caught up in the fact that the advertized annuity sum (after the 26 + years) is always signifcantly more than the cash option sum.... [ More ]

Reply #85

dallascowboyfan — Sun, 25 Mar 2012 03:22:50 GMT

Welcome to the LP JB434......

Reply #84

rdgrnr — Wed, 21 Mar 2012 03:38:50 GMT

Hey JB, welcome to the Forums, it's about time.

I can only give my opinion and that is if everybody, on every occasion, used search to get answers for any and every topic you can imagine that's been discussed here - there would probably be a lot fewer posts, cuz anything and everything lottery related has probably already been discussed here multiple times.

And though the answers to most questions you can conceive can usually be found with the Search Feature, people still like to give thei... [ More ]

Reply #83

JB434 — Wed, 21 Mar 2012 00:39:39 GMT

Your choice in a cashier's check, or a wire transfer. I personally would recommend the wire, it'll hit within a few hours and will not be subject to holds for a verification of funds, where as under Check 21 even a cashier's check is subject to a 3 day hold.

You can get a standard account with FDIC insurance upto $250,000; and high-yield investment savings accounts protected by SIPC with protection upto $500,000 on top of that. But for the most part, you are well protected if you bank wi... [ More ]

Reply #82

katylied — Wed, 21 Mar 2012 00:30:53 GMT

In light of the info maximumfun provided, say I take the cash value, roughly $120,000,000 dollars.

Does it get transferred via electronic funds to bank accounts I open? Cashier's Checks?

In a time of untrusted banks, with FDIC insurance of $250,000 usd per account, btw, I am single.

So best case scenario I open 5 bank and brokerage accounts each one has 2.4 million USD in it with

only $250,000 usd FDIC insurance.

Titilating and scary at the same time.

Thanks to maximumfun for t... [ More ]

Reply #81

JB434 — Wed, 21 Mar 2012 00:01:52 GMT

Thanks,

I do not normally post to a lot of forums, but since I have registered I will post from time to time.

True, fresh threads are always better than a resurrected old thread. (Or resurrected old post, like I did with rdgrnr.)

I guess for my own reply to the thread on-topic, I will be taking the cash option after the drawing tonight. I can live happily and invest wisely. I prefer having control over my own funds, rather than a life insurance portfolio manager overseein... [ More ]

Reply #80

haymaker — Tue, 20 Mar 2012 23:50:14 GMT

welcome to LP

I think the site likes to get fresh threads, read somewhere on here that threads are not supposed to live forever,

in a way its like starting a conversation on the same subject at a new party,

even if some of the party guests were at the old party.

don't go back to lurking, stick around at the party.

Reply #79

JB434 — Tue, 20 Mar 2012 23:36:15 GMT

I have read this forum since 2008, and never felt the need to really join and comment. I agree, some may want to discuss it, but shouldn't they use the search button first to eliminate the constant renewal for these threads?

Goes back to lurking for another few years

Reply #78

maximumfun — Tue, 20 Mar 2012 22:16:25 GMT

hi Katy - I'm new too and probably not the best person to respond... but never fear, there is a huge contingency of peeps who will chime in who are much smarter than I. Your annuity WILL be state taxed based upon 2 things. 1. the state you purchased your ticket IN will get the first shot, then the state you LIVE IN will get the 2nd shot. Ex. each year, prior to disbursing the proceeds for the year, the state you won the lottery in will w/h 25% fed and whatever % state tax your state has, I live... [ More ]

Reply #77

katylied — Tue, 20 Mar 2012 22:05:06 GMT

This is my first post here and I joined just to get comments on my supposition.

So here goes.

In my state, there is a 7% state tax on lottery winnings.

If I won the top prize tonight and chose the annuity, could I not pay the 7% on the 1st year's annuity payment

AND THEN move to Wyoming or Nevada or Florida where there is NO state income tax and receive the rest of the

annuity payments free of state tax for the next 25 years?

It would mean millions of extra dollars.

Also I t... [ More ]

Reply #76

Colt45ML — Tue, 20 Mar 2012 19:44:54 GMT

This would be my most basic rational for taking the cash option.

Reply #75

lottoguru$-!624 — Mon, 27 Feb 2012 18:08:55 GMT

also consider the new york lottery 35 million dollar jackpot...if i wait 20 years to get that money...how am i gonna buy 1,000,000 of power ball tickets when the jackpot hits 10 billion?????

a bird in hand is worth 3 in the bush....

Reply #74

lottoguru$-!624 — Mon, 27 Feb 2012 17:58:27 GMT

cash on hand!!! i could be dead tommorrow

Reply #73

mediabrat — Mon, 27 Feb 2012 02:06:31 GMT

For me, it depends on how much the advertised jackpot is. If the annuity turns out to be $1 million (or more) a year, I'll take my chances with the annuity. If it's less than that, it doesn't really seem worth it to go for the annuity, so in that case I'd take the cash up front and try to make hay with it.

Reply #72

jones69 — Sun, 26 Feb 2012 14:29:44 GMT

While it is true that the received sum of cash option is currently relatively at highest level in history,

due to very low interest rates, decisive calculation results tend to appear be more favourable

for cash option with direct comparison to annuity today - but only on a short term basis.

Today cash option or fast-track to riches still is discounted, below par level when compared to annuity which is slow-track .

Capital difference at its minimum now, but what matters are taxes a... [ More ]

Reply #71

jones69 — Sat, 25 Feb 2012 17:19:27 GMT

@TIME*TREAT

You are 100% correct in state of current affairs with society, dollar etc.. I should have put my sarcasm ON warning lights on, I am sorry I did not that.

However I feel optimistic about my survival.

Do not tell anyone but Actually I am one of those hardcore preparers expecting for the end of society, stocking everything imaginable and practising a life without electricity etc. I just try keep do not worry be happy appearance here that nobody ever even thinks to enter my stor... [ More ]

Reply #70

jones69 — Sat, 25 Feb 2012 16:32:00 GMT

@ OldSchoolPA

I do agree with you completely with many matters, like the principle that personal choices make our destiny.

But when a investment plan sounds so good on a paper, I am sure works too, but only on a paper.

Seriously, I would love to win jackpot and take cash and invest it, if such return of capital could be quaranteed as you suggested, but I can not.We few can.

First I say it is dangerous to assume you will always get 5% dividend after tax

in investment return calcula... [ More ]

Reply #69

savagegoose — Sat, 25 Feb 2012 08:12:11 GMT

dont look at me, i said powerball and mega ball should organize the payments, and ill ill look after the experimantal part. what you want me to do everything

Reply #68

time*treat — Sat, 25 Feb 2012 05:08:29 GMT

People don't get that future payments are subject to future inflation and tax rates.

As the tax base shrinks and inflation soars, that annuity payment looks better and better as a target.

Ask holders of Greek sovereign debt how their payments are going. Already, plans are under way to split creditors into at least two groups. One group (banksters) will have first dibs on being repaid, when/if there's a default. The others will be left with worthless paper.

We don't know future rates 10... [ More ]

Reply #67

s5thomps — Sat, 25 Feb 2012 02:40:07 GMT

Well put Old School

Reply #66

OldSchoolPa — Fri, 24 Feb 2012 18:11:00 GMT

You are not necessarily getting more money by taking the annuity option. For example, the current Powerball cash value (43.3M) is 61 percent of the advertised annuitized jackpot (70M). After taxes, the net cash value a potential Saturday winner could take home is $28,145,000 (I used 35 percent tax rate as some may pay both federal and state taxes). Now presuming the winner is an astute person who knows how to conservatively invest his/her winnings, let's assume the person invests and achieves a... [ More ]

Reply #65

mcginnin56 — Fri, 24 Feb 2012 15:38:28 GMT

Excellent suggestion savagegoose! I volunteer to have Powerball grant me a lump sum of cash via a bank wire to my business checking account. If

your monitoring Powerball, I have my routing and checking account #'s all set for you. If you could wire that to me today, that would be most

appreciated. This way I could have the funds available for me by Monday morning. Will you be sending me the lump sum based on the minimum

$40 Mill. jackpot, or the current $70 Mill.???

Thanks in ad... [ More ]

Reply #64

savagegoose — Fri, 24 Feb 2012 14:14:37 GMT

there's only one way to prove this either way we need to experiment.

i suggest we get mega millions to pay 1 of us in here an annuities win , and power ball to pay the other in here a lump sum win .

then over the next 30 years we track who has the buigger grin on their face.

i volunteer for either position, im not that opposed to annuities after al.

Reply #63

helpmewin — Fri, 24 Feb 2012 14:09:34 GMT

Annuity Payments i feel would be the best because u will getall the Money that way not half/then they tax on that, so you wouldnt even get half, and you can set up it to go directly into any type of account so therefore if anything was to happen to that Lottery winner it won't matter the money will still be put into that account for the 30yrs or whatever the case maybe and drawing intrest at the same time....

Reply #62

dallascowboyfan — Fri, 24 Feb 2012 13:40:59 GMT

Cash, Cash,Cash..........

Reply #61

time*treat — Fri, 24 Feb 2012 04:02:14 GMT

[N]egative outcome (tax,inflation,collapse of society etc.) is remotely possible but why to worry about it TOO much before that actually happens ?

Because if you wait until it's obvious, you'll die with the rest of the everything-will-be-alright idgits.

History has plenty of examples of people who got out of bad places before bad turned into worse and did much better than those who stayed behind.

If you visualize bad outcome, it may manifest easier, so better think positively ins... [ More ]

Reply #60

jones69 — Thu, 23 Feb 2012 23:35:01 GMT

@BABEL

You made very good arguments, again. Explained as clearly as any natively english speaking person can only do. I am not American, I have limits in verbal matters.

All I know my professional background, earlier experiences, tax residency and business environment, do differ from USA and they all favour annuity due to taxation.

I am pretty sure annuity for the best option for non-resident tourist from high tax european country that taxes outside Europe lottery wins up to 52%.

Reply #59

jones69 — Thu, 23 Feb 2012 22:51:59 GMT

@ RDGRNR

I get it now. 104. Hearing the truth is as funny, but even funnier when it hurts.

Finland is small country, just 6 million winter night wanderers with serious fairness issues, I give you two examples:

1. Our new Eurojackpot jackpot is between 10-90 millions euros, that is TAX FREE, max 115 million dollars.Odds 1 to 56 million. Starts in next month. Pretty fair deal ?

2. Our next elected president still does his own snow-work at the yard. Thank God we get a man president afte... [ More ]

Reply #58

Brcebrce — Thu, 23 Feb 2012 22:18:06 GMT

Cash all the way. Why pay maximum taxes on returns that barely beat inflation? Invest for a 6-8% return.I will use a part of returns for income let the rest rollover back in investments. I made a good post about this earlier.

Reply #57

psykomo — Thu, 23 Feb 2012 22:15:37 GMT

Jack-C:

WOW U have thousand'$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$of LOTTERY POST!!

congrat'$$$$$$$$$$$$$$$$$$$$$$$$$!

(PSYKO voted take D LOTTERY POST CASH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

CASH RUN

Reply #56

sully16 — Thu, 23 Feb 2012 22:03:59 GMT

yes, yes, mama wants the cash.

Reply #55

jones69 — Thu, 23 Feb 2012 22:03:38 GMT

KY Floyd made a good input with his estimated payouts. In Powerball annuities increase every year by 4%.

Actual sums become 100% sure after only after are all paid out, it should be noted.

We do not know future interest rates either, but those appear to be on zero level, even negative real rates appears to exist, supporting gold.

Since most people do choose cash option, they must be 100% certain they can gain themself much more what having simple annuity

plan providing it all au... [ More ]

Reply #54

rdgrnr — Thu, 23 Feb 2012 21:58:29 GMT

@ jones69,

Let me explain this as simply as I can.

The reason the overwhelming majority of Americans want the Cash Option is because we don't have a stable government. There is no one at the helm. We elected a community organizer who can read speeches off a teleprompter better than anybody but is in way over his head as President. He's a committed socialist in a capitalist society and he's trying to collapse our Republic so he can build his socialist empire.

You may have a stable govern... [ More ]

Reply #53

Babel — Thu, 23 Feb 2012 21:51:54 GMT

Yes I understand how the annuity works and yes the compound interest formula over simplifies the question but the basic fact remains, government bonds are at very very low rates and taxes are at low rates. If you look at treasury.gov at the start of this year yields were 0.01 to 2.98, and only the 20 and 30 year notes are over 2. Go back 5 years to 07 and the yields were 4.68 to 5.11 and it was the 3 month to 1 year notes that were all over 5.

All they do with the annuity is take the cash in

Reply #52

jones69 — Thu, 23 Feb 2012 21:40:53 GMT

@MGGINNIN56

What you said must be partially true where you live, you know it better than me. Greece is 1% of Europe, but everyone is on the ropes for their lazyness of action.

Little preparation for bad times is ok, but because banking system is based on paper dollars from federal reserve that is a private bank, you must the faith to the system, otherwise you are supporting the system by playing lotteries. If you are not winning enough, better stop playing. Winning is easier to do than soc... [ More ]

Reply #51

jones69 — Thu, 23 Feb 2012 21:12:45 GMT

@ BABEL:

Your views on interest rates and taxes are spot on. We may all be heading for a lost decade as Japan.

I am not saying cash option is a bad choice. Going either cash or annuity is not a perfect choice.

Babel, sounds like you have good plan, stick into that.Transition to wealth is not only numbers, but a social change too.

I see this as a BIG argument for annuity, you simply have not that much money to throw around that wish sudden cash intake.

Change that phone number and

Reply #50

jones69 — Thu, 23 Feb 2012 20:23:29 GMT

Savagegoose, you made some good arguments and I thank you for doing it.

While I decided to process only facts at first, I see it is that human mind processes fear first and desires instant gratification,

all this explains why cash sum has become such popular, even the mathematical evidence is given.

Yep, negative outcome (tax,inflation,collapse of society etc.) is remotely possible but why to worry about it TOO much before that actually happens ?

If you visualize bad outcome, it may

Reply #49

KY Floyd — Thu, 23 Feb 2012 20:07:33 GMT

You do know that with annuity payments they make *payments* every year, right? Your figure of 1.31% for MM is the rate that would turn the cash value into the annuity amount if the full cash value plus interest remained invested for the 25 year period of the annuity. MM is easier, since the payment is the same every year. The current MM annuity value is $83 million, which means annual payments of just uner $3,192,308 per year, and a cash value of $60.4 million. If somebody takes the annuity the

Reply #48

mcginnin56 — Thu, 23 Feb 2012 18:43:51 GMT

Worst economy EVER! , since the great 1929 depression. International banks and corporations as well as State and municipal governments declaring bankruptcy at alarming never seen before rates.

Lowest mortgage rates and home values adjusted for inflation in recent history.

ALWAYS TAKE THE MONEY AND RUN!!! Once your state government's economy is sunk....so are you. What good is an annuity if the government is insolvent and unable to pay it.

Reply #47

Babel — Thu, 23 Feb 2012 18:18:23 GMT

Cash all the way. The annuity, especially right now, is a horrible investment. Interest rates on low risk government backed securities which is what they buy to fund the annuity are about as low as they can possibly go. Federal taxes in the United States are also at historic lows and will need to come up eventually.

Using the compound interest formula Powerball only earns 1.67% annually on their annuity investments, Mega Millions only earns 1.31%. I live in one of the highest income tax state... [ More ]

Reply #46

savagegoose — Thu, 23 Feb 2012 17:07:52 GMT

have a look at tax rate changes thru out history in usa. there was a 95% tax rate on the rich around the great depression.

the time value of money also means money now is always worth more than monet in the future. as you can spend it now, at todays prices. who knows what a dollar will buy in 10 years time, but at %6 we can guess half as much as it does now.

then there is the big fear of bankrupt states, most of the lotto annuity is paid in municipal bonds, and they may well be worth nothi... [ More ]

Reply #45

jones69 — Thu, 23 Feb 2012 12:34:22 GMT

I am perplexed too see how many people have voted against choosing annuity option, which I see clearly a better choice.

Some arguments (as in February 2012)

1. choosing cash option means big reduction of starting capital, cash option is undervalued by 5-10% than it should, it depends on jackpot amount.

1.1 choosing annuity means lottery will need to allocate more capital for payment of increasing annuities, in time total amount of money gets bigger easier than with cash.

1.2 the valu... [ More ]

Reply #44

NightStalker — Thu, 16 Feb 2012 13:04:12 GMT

$CASH$ is KING! I already have a plan. Payoff bills, help out family and friends and continue to live pretty much the same lifestyle, with a few upgrades. I don't need to travel, I enjoy living in a quiet place. I would spend more time with my parents.

Reply #43

ThatJoeVArmint — Thu, 16 Feb 2012 09:18:20 GMT

I'll take the $$$CASH$$$! While I've seen financial articles for and against the cash option, the one I thought made the best sense was one I read last year (can't recall where...darn). The person writing the article was a financial planner who pointed out that since most lotteries use government notes (bonds) to earn the money for annuity payments (they currently earn around 3% annually, I believe), it would be the wisest, and lowest risk choice to take the cash option, pay off any and all outs... [ More ]

Reply #42

rcbbuckeye — Wed, 15 Feb 2012 02:23:49 GMT

Amen and amen

Reply #41

Coin Toss — Tue, 14 Feb 2012 23:36:23 GMT

Excellent post, Ridge, and not that far fetched.

Let's see, just for one thing, the fans of the hammer and sickle detest property ownership in any form, cars, houses.........gee, what does everyone think all the foeclosures are about?

And let's see, what else? Oh yeah, czars...gee the root word of the Rusdian woird czar is...caesar!

Those who have ears, let them hear.

If there was ever one solid argument for cash your post above should be it.

Reply #40

kyokushin187 — Tue, 14 Feb 2012 04:34:30 GMT

why should he have been sent to a rubber room? oh I shouldn't ask. I already know the answer to that.

Reply #39

rdgrnr — Tue, 14 Feb 2012 03:29:16 GMT

Dear Jackpot Winner,

Please be patient while the temporary restraining order on the disbursement of your annuity funds is in effect during this national emergency.

This will coincide with the temporary suspension of the Constitution and Bill of Rights.

The sundown till sunup curfew will remain in effect until the rioting stops and the lawless roving bands of militia are disarmed and executed.

Unfortunately, I have found it necessary to cancel all elections until my new secret police

Reply #38

Franky79 — Tue, 14 Feb 2012 00:37:54 GMT

I would do half and half.

Reply #37

CDanaT — Mon, 13 Feb 2012 17:40:42 GMT

oh not me...I want the annuity so I can pay potentially less taxes on it for years to come cause our government is so effecient and theres no doubt that the tax rate for millionaires will definitely be less in the future 29 installments.....Boy, if that statement cause projectile vomiting............

SHOW ME THE CASH RIGHT NOW

Reply #36

Coin Toss — Sun, 12 Feb 2012 20:13:51 GMT

dk1421,

Not just North Carolina gets 'creative' with lottery money supposedely going to schools. It's common for states to claim 'Lotto bux for education' and put them in the school system and take out an equal or greater amount somewhere else in the school system. They just make it look like it's going to the schools.

PS

A long overdue thanks for the sig reference.

Reply #35

s5thomps — Sun, 12 Feb 2012 08:44:57 GMT

For me it depends on the amount and the age at which you win. If you are in you late teens or earlier twenties I would suggest taking the annuity. I know how I was at that age and at least if you blow your money those first couple of years at least you have an annuity coming for the next 20 yrs or so. Also I would suggest that you never sell your future payments to those brokerage firms you will end up being broke in no time. If you are 35 or older I would take the cash option and purchase my ow... [ More ]

Reply #34

dk1421 — Sun, 12 Feb 2012 03:44:30 GMT

In truth, my state has taken the lottery money designated for schools, and used it for other things. Who is to say they won't take the money you won in the lottery? And yes, it's illegal, but I'm sure they could find a way around it. They figure, you've gotten a few payments, you should be able to live on that.

I'd take the cash.

I'm not a conspiracy theory person, but the older I get, the less I trust politicians.

Reply #33

rcbbuckeye — Sun, 12 Feb 2012 03:16:55 GMT

I have a structured settlement and I need cash NOW!!! .

The way the economy is going, there's no guarantee the money will paid over 25 or 30 years.

On the other hand, there's no guarantee the the dollar is going to be worth a penny either when you have taken the cash.

Reply #32

Bigheadnick — Sun, 12 Feb 2012 02:26:29 GMT

Take the money and run. We can't even be sure the world doesn't come to an end in 20 years, nevermind the state being able or willing to pay out for that long. There's just no guarantee, you'll see it all. I would ABSOLUTELY TAKE THE CASH OPTION.

Reply #31

mrsinful — Sun, 12 Feb 2012 02:22:00 GMT

Amen to that. I will take thecash and then buy as many books of scratchers

as I can. Then I will finally hit a 1000 on a ten dollar ticket. (They won't be in South

Carolina though).I will do this after I get Britney Spears to sing at my celebration

party.

Reply #30

LottoGuyBC — Sun, 12 Feb 2012 01:29:12 GMT

I like Cash too

Reply #29

haymaker — Sun, 12 Feb 2012 01:11:56 GMT

just voted cash, you can always buy your own annuity,

but i do laugh at that 1 tv comm. where they're on the bus,

singing like an opera. even sing along with it,

but that makes my dogs bark and whine LOL.

Reply #28

ameriken — Sun, 12 Feb 2012 00:03:34 GMT

On smaller prizes, of under $1,000,000, I would take the cash (should I be that lucky).

On $1,000,000 to maybe $4,000,000 I would likely take the annuity. With the Colorado Lotto, the cash amount is 1/2 the jackpot, so a $1,000,000 jackpot is reduced to $500,000 cash. Then if you assume fed and state taxes eat another $200,000 then you're down to $300,000 or so. In that case, I'd rather just take the annuity. A $1,000,000 win pays $25,000 for the first year then increases 3.7% every year for... [ More ]

Reply #27

mcginnin56 — Sat, 11 Feb 2012 23:51:33 GMT

Reply #26

savagegoose — Sat, 11 Feb 2012 23:46:21 GMT

share market has gona gang busters around here lately, and %10 div yeild is no longer avail.

my nice easy math of 10% earning , %7 after tax is all messed with.

but a 5.2% return after tax on 200 mill is 10 mill a year, thats %8 div minis 35% tax,.

10 mil is after taxes are out,. just buy a %8 yield stock, in a company name., pay yourself a wage as manager,. and any spending money you dopnt pay your self pays company tax rates not personal.

but ifyou wanted the pay could be $10

Reply #25

ONEDAY — Sat, 11 Feb 2012 22:32:07 GMT

cash

Reply #24

Coin Toss — Sat, 11 Feb 2012 22:19:59 GMT

Unless someone recruited a bunch of people the skew the results, do you think a daily poll would come out any different than the consensus thus far?

mjwinsmith,

Well, there is 12-21-2012 to get past,you know, the Mayan stuff.

I'll take the annuity

Are you sure, the asteroid is going to impact within 24 hours

____________________________________________________

If I knew the world was going to end tomorrow, I'd go plant a tree

-Martin Luther

He should have been sent r... [ More ]

Reply #23

Stormiela — Sat, 11 Feb 2012 20:45:26 GMT

I'd take the money and run

Reply #22

mitch13 — Sat, 11 Feb 2012 20:16:06 GMT

Either way i could deal with one or the other. There's a saying if you cant handle money when you have none , when you get some you still don't know how to handle it when you get some,LOL . Look around and you will see what i mean. Some people get money and they blow it right know. Ex tax time. Mitch

Reply #21

CreAmTheLoTTo — Sat, 11 Feb 2012 20:06:37 GMT

ohemgee so i clicked the first link in the search results and thought it was the only one lol so i get stupid cloudy most of the time shoot me.....LOL but ya should have a daily poll about it

Reply #20

mjwinsmith — Sat, 11 Feb 2012 19:32:45 GMT

Reply #19

rdgrnr — Sat, 11 Feb 2012 18:49:16 GMT

We get new members everyday who might like to discuss it and vote on it too, Jack.

Reply #18

mjwinsmith — Sat, 11 Feb 2012 18:14:17 GMT

I would take the Annuity Option, (1) I would collect the $310,000,000.00 over the term of the payout, talking about tonights Power Ball Jackpot for Saturday 2/11/2012.

(2) I would get an annual income for the rest of my life expectancy, and should I die before that time the remainder can always go to family.

Everybody has their own choice, for their own reason and to that I say to each his own.

Good luck eveybody.

-Michael

Reply #17

dr65 — Sat, 11 Feb 2012 18:10:50 GMT

Yes, somewhere nice, quiet, isolated and all trees, land, animals and God's great big beautiful sky for miles around. Perfect.

Reply #16

dr65 — Sat, 11 Feb 2012 18:08:08 GMT

Reply #15

Jack-C — Sat, 11 Feb 2012 18:05:47 GMT

I have lost count of how many times this has been discussed and polls taken. It always comes out that the best option is CASH.

Reply #14

LottoGuyBC — Sat, 11 Feb 2012 17:59:09 GMT

Cash Now

Reply #13

Uff Da! — Sat, 11 Feb 2012 17:10:29 GMT

Well, if you consider yourself bad with money, why not start doing something about it? Start by making a budget and keeping track of your expenses by category. At the end of each month look at your monthly totals and see if you are happy with how you did. You'll most likely get much better with money quite fast that way. In a year, you'll probably conclude that taking a lump sum is better.

With a large jackpot it should be no trick to give yourself a huge chunk (like maybe a million dollars f... [ More ]

Reply #12

rdgrnr — Sat, 11 Feb 2012 17:00:58 GMT

A lotta property, away from big cities.

Reply #11

Piaceri — Sat, 11 Feb 2012 16:53:31 GMT

No one over the age of 30 should take the annuity. If you are bad with money, set up a trust with a trusted manager(s). Even for under 30's, I'd not choose annutity. At my age, annuity is not an option. I'm within 20 years of retiring and it would sure be nice to retire or semi-retire early and have more years to spend with my future grandchildren in complete financial security.

Reply #10

Coin Toss — Sat, 11 Feb 2012 15:29:33 GMT

No, more than just one since 2004.

Just type annuity in the Search feature.

https://www.lotterypost.com/search?q=annuity

Reply #9

CreAmTheLoTTo — Sat, 11 Feb 2012 15:21:03 GMT

haha no if i did take the annuity i would never go to bj bluntwerth. you all make good points. and yes land would be a good investment

i would probably do the warren buffet start up technique.....buy some pin ball machines!!!

i searched the last time a cash vs annuity topic started it was late 2004 and it was a 1 page thread....we might beat em!!!!!

good luck to all tonight i hope you all give my jackpot more money

Reply #8

Feadogger — Sat, 11 Feb 2012 15:06:18 GMT

Take the cash, invest some wisely and buy property. Gerald O'Hara taught me that when I was a little girl.

Why, land is the only thing in the world worth workin' for, worth fightin' for, worth dyin' for, because it's the only thing that lasts.

Reply #7

mcginnin56 — Sat, 11 Feb 2012 12:31:45 GMT

Reply #6

savagegoose — Sat, 11 Feb 2012 08:12:35 GMT

no matter how bad you think you are with money,the government is FAR FAR WORSE.

take the cash and run

Reply #5

Coin Toss — Sat, 11 Feb 2012 06:17:48 GMT

This has been discussed quite a bit here, but since you say you are bad with money what would you do if you won a jackpot, took thre annuity and then one of those you-need-it-now companies stared waving cash at you (which would be pennies on the dollar)?

Someone here at LP has or had a signature line, You can always buy a better annuity .

Don't forget, what sounds like a major score on an annual basis may not be that big of a deal years down the road.

And as has been mentioned already b... [ More ]

Reply #4

zinniagirl — Sat, 11 Feb 2012 05:42:29 GMT

For me it would be the cash option. I would rather pay the taxes upfront and then only pay on the interest or profits made of the rest. Taxes seem to go up every year

Reply #3

CreAmTheLoTTo — Sat, 11 Feb 2012 05:41:29 GMT

i dont think you can will the payments if you can awesome!!

i feel ya it would be nice to be 50 and have everything you want and still get millions in the mail

Reply #2

weshar75 — Sat, 11 Feb 2012 05:32:28 GMT

I am 36 so I would take the annuity and get a will in case I died before the payments paid out. I would will my payments to my niece she is level headed and young only 17 so she could enjoy the money if I am gone.-weshar75

Reply #1

mrcoco5 — Sat, 11 Feb 2012 05:31:06 GMT

The way the economy is right now were a lot states are struggling to pay the most necessary service like police, firefighters etc

who is to say you will get your payment for the next 30 years

I would rather take the cash payout and invest my money the way I want

Cash Vs Annuity Payments

CreAmTheLoTTo — Sat, 11 Feb 2012 04:49:51 GMT

I personally (before cunsulting a tax attorney or cpa aka accountant) would take the payments. i know i am pretty bad with money so to have it regulated i would feel more secure.