Looking at that 586 million...I think I want the annunity

Reply #26

mikeintexas — Wed, 18 Dec 2013 05:22:09 GMT

The one I want is 7.45 million. 2+ sections, live water (several springs), small lake (27 acres), several ponds and duck marshes, several homes, 9-hole golf course and nearly all of it high fenced with an established population of several hundred white-tailed deer (and a few dozen of other types). I don't know what sort of business I could do w/ the property, but I'd sure do something for tax purposes. That's one of the reasons I would opt for the cash, just so I wouldn't have to finance the pro... [ More ]

Reply #25

haymaker — Wed, 18 Dec 2013 01:42:00 GMT

If you really want an annuity, you should still take the cash and buy your own annuity or maybe more than one,

you can get different times and terms, also the big chunk of cash will allow you to invest in other things,

rather then tie up all the $ in one thing.

Diversity is the key.

Reply #24

rdgrnr — Wed, 18 Dec 2013 01:20:52 GMT

I used to have a Trinitron TV.

I think it was a Sony.

Might still have it out in the barn.

Reply #23

trinitron00 — Wed, 18 Dec 2013 01:01:53 GMT

My only reason for prefering the cash option is that 30 years is a long time, a lot of things could change although the annuity option looks really good right now with the bump today I am still going to go with the cash option.

Reply #22

EZMoney — Tue, 17 Dec 2013 22:29:09 GMT

Mathematically and strategically speaking, choosing the cash option is always better than the annuity option.

Reply #21

savagegoose — Tue, 17 Dec 2013 22:11:14 GMT

yeah 5 mill a year is more than enough for me, i think i could invest it wisely, and not blow the whole 5 in a year. if successful by time im 80 ill have more than the original cash payment in investments. and if im not, i only have to wait till next year to be flush with cash again.

Reply #20

aftermath — Tue, 17 Dec 2013 18:25:51 GMT

The ranch I want to buy is way, way, way more than 5.9 million.

Ill be taking the cash option. If I blow it all, then I guess Ill have to live off the 90k a year the ranch brings in

Reply #19

rcbbuckeye — Tue, 17 Dec 2013 14:04:44 GMT

I like what Coin Toss said. You can buy an annuity with the cash.

My main reason for the cash is that I might not live 30 years and I don't want a headache for my wife or kids with estate taxes. On top of that, 30 years is a long time. With the way the country and the economy, and taxes are going, I don't believe anyone really knows what is going to happen. Can anyone really say with certainty that if things go in the dumper that your annuity would survive? If that happened, I realize maybe c... [ More ]

Reply #18

Shelby Mustang — Tue, 17 Dec 2013 13:05:21 GMT

What you said is exactly what I based my decision on to take the annunity. 1st check would be 5.9 mil after tax and last would be 24 mil after tax. When your pulling in that kind of scratch a year, you can't blow through it...unless your doing dumb stuff like making it rain or putting 30 in gold rims on all your Rolls Royces and Bentleys. LOL

Reply #17

hearsetrax — Tue, 17 Dec 2013 11:58:56 GMT

I personally see no problem with ethier option

provided one has a decent game plan,actually sticks to it and resists temptation regardless of the form it takes

Reply #16

BuyLow — Tue, 17 Dec 2013 03:54:45 GMT

Reply #15

helpmewin — Tue, 17 Dec 2013 03:43:19 GMT

Well said mediabrat

Reply #14

mikeintexas — Tue, 17 Dec 2013 03:38:30 GMT

Yeah, same here.

Mediabrat, there are advantages/disadvantages to either option, but as I've said before, in 30 years - IF I make it that far - I might not even remember my name, much less that I've got a huge last check coming. There's also the matter of taxes; we recently had a 4.6% increase in the top bracket and unless things start looking up, I don't see the tax rate doing anything but rising from the current 39.6%. Have a gander at the history of top bracket rates and you *might* cha... [ More ]

Reply #13

dallascowboyfan — Tue, 17 Dec 2013 03:11:04 GMT

Aint that the truth

Reply #12

mediabrat — Tue, 17 Dec 2013 02:50:07 GMT

Lump sum vs. annuity will always be an argument for the ages. Many people here are quick to dismiss the annuity; I've made no secret of my opinion that the annuity is not necessarily a fool's choice and is at least worth looking into.

A case can be made for either option; I'm not going to rehash them here. Besides, it'll detract from the point I'm about to make: When the jackpot gets this high, it doesn't really matter. Unless you plan to splash out so large that you would immediately blow th... [ More ]

Reply #11

rdgrnr — Tue, 17 Dec 2013 02:24:56 GMT

I'd be afraid they'd hire Jon Corzine to manage it.

I'll take the cash.

Reply #10

Mattapan — Tue, 17 Dec 2013 02:21:10 GMT

Tru dat. But if you spending so much that you need to borrow against future checks, you would most definately go broke if you had taken the lump sum.

Reply #9

Shelby Mustang — Tue, 17 Dec 2013 02:19:08 GMT

That's true too ryan but Im thinking I couldnt spend 5 million in a year..and that is just your first years payment, I know I wouldnt have to sell any payments to a peachtree or jg wentworth type agency to make it

Reply #8

Mattapan — Tue, 17 Dec 2013 02:19:04 GMT

I have no idea of that number, but I do think it would be a lot harder to go broke if you have checks coming every year, especially for a couple of million. With that much money all at once(lump sum), you could be tempted to do a lot of stupid things. Granted, I know it would be very hard to blow through that much money(somehow jack whitaker did it) but it is possible.

Reply #7

mediabrat — Tue, 17 Dec 2013 02:14:01 GMT

Coin Toss,

How many jackpot winners have taken the cash and ended up flat broke a few years later?

There's probably more of those than there are failed annuity winners.

Just something to think about.

Reply #6

ryanm — Tue, 17 Dec 2013 02:03:42 GMT

Taking an annuity instead of the cash option does not insulate against stupidity. Many of those winners may just end up borrowing against the future payments anyway.

Reply #5

Coin Toss — Tue, 17 Dec 2013 00:18:17 GMT

Mattapan,

How many jackpot winners have taken an annuity and then sold it to one of those structured settlement companies - for dimes on the dollar?

Also, someone here used to have a signature, You can always buy a better annuity .

Just a couple of things to think about.

Reply #4

Masone — Mon, 16 Dec 2013 23:54:39 GMT

190 million after taxes for the cash option.

I think I'm taking that.

Reply #3

Mattapan — Mon, 16 Dec 2013 23:48:14 GMT

I've been thinking long and hard about this. For a long time I always said I would take the lump sum, but the horror stories I've read about and seen are an eye opener. It would be nice having 316 million on hand, but i'm sure after taxes it's much less, but getting a check every year would be nice. Also, I would be 75 if i live to the end, but i could leave the rest to my children.

Reply #2

Shelby Mustang — Mon, 16 Dec 2013 23:08:07 GMT

If I had kids or something to leave it to I would, but since it's jus me...it's going to end up the same for me. So I think I want a fat check every month. I dont think inflation will effect it that much, if it does oh well I'll still be a millionaire til the day I die

Reply #1

gnozahs — Mon, 16 Dec 2013 22:55:51 GMT

Cool story bro. But in all seriousness, I'd take the lump sum because of inflation.

Looking at that 586 million...I think I want the annunity

Shelby Mustang — Mon, 16 Dec 2013 22:53:39 GMT

There is no way I myself would ever spend that 316 million or 215 after tax...so Ive been checking an annunity pay out site and my first check would be 5.9 million and the last (if I lived to 71) would be like 24 or 25 million and that's if I win tommorrow night. I dont have kids my brothers and sisters are older than me so Id probably take the annunity and then set up a trust and when I died some charity could just have it, but I think it would be cool getting that check every year, that big ch... [ More ]