Taking Lump sum vs Daily/weekly prize

Reply #4

hypersoniq — Sun, 02 Jun 2024 03:24:06 GMT

At my age, there is only one option... lump sum.

Reply #3

Coin Toss — Sun, 02 Jun 2024 03:10:17 GMT

Extremegain,

See my post here about the book Money for Nothing.

https://www.lotterypost.com/thread/350656/7579241

The book is about a compny called The Firm which offers lump sum payments to jackpot winners originally went for non lump suym paymjents but offers them wayt less than they would have got if they went for ther lump sum right away. Interrsting stuff.

Reply #2

Artist77 — Thu, 30 May 2024 16:12:19 GMT

I would like to see where it says the lottery bears no responsibility for ongoing payments. If it is a contractor who makes the payments, which it sounds like, the lottery still bears shared responsibility. I doubt the state legislature would allow a state lottery to sign away this responsibility in full.

If you are not paid timely, after a couple of months, I would contact your state reps in writing and the press and state you will have your counsel contact both the lottery and the assigned... [ More ]

Reply #1

MartyMcNuts — Tue, 28 May 2024 03:16:37 GMT

No, unfortunately I haven't had any sort of substantial win that large but if I ever do, I would definitely rather take the lump sum if given the choice. That way, I have all of my money up front and can invest it as I see fit. Therefore, I am earning the interest on my money (don't want the other company holding my money to get the interest as is the case of the daily/weekly/fortnightly/monthly option) and can still set myself/family up for life.

Taking Lump sum vs Daily/weekly prize

Extremegain — Tue, 28 May 2024 02:37:13 GMT

Hi all,

In the fortunate event that someone wins a lottery prize such as $1,000 a day for life with the option to take the lump sum prize of say $7,000,000, what are some challenges that people have experienced in claiming the daily or weekly prize over the lump sum?

In the terms and conditions of these lottery games, it states that when individuals opt for the daily or weekly prize, the lottery company no longer bares responsibility to ensure that winners get their money on a weekly or d... [ More ]