Take the Lump sum...not Annuity!

Reply #38

CASH Only — Sat, 05 Apr 2003 15:12:42 GMT

AnnuityIsBushLeague:What do the Final Four have to do with lotteries?Apparently you don't know how to have an intelligent discussion with someone else.

Reply #37

AnnuityIsGreat — Sat, 05 Apr 2003 14:56:57 GMT

Cash,Who do you like in the Championship NCAA games? You do have a life outside this forum, don't you

Reply #36

CASH Only — Sat, 05 Apr 2003 13:43:27 GMT

AnnuityIsBullcrap:I see you've infected this forum again.

Reply #35

AnnuityIsGreat — Sat, 05 Apr 2003 13:32:48 GMT

Why do you say CT is better than NY Lotto. Do you get two games for a buck

Reply #34

CASH Only — Fri, 04 Apr 2003 23:00:25 GMT

Clarence:IMO the reason Jeb Bush didn't want Powerball in FL had more to do with his conservative philosophy.I live a reasonable drive from Connecticut, so I have access to MM and Powerball. I actually think Powerball is the better game, since the smallest prize is $3 vs $2 in MM, _and_ you have a better chance of winning something in Powerball. Furthermore, there is the PowerPlay option in PB, which makes PB worthwhile even with a small PB jackpot. MM probably should be avoided when the jackp... [ More ]

Reply #33

Lottowiz34 — Fri, 04 Apr 2003 22:18:47 GMT

Hey CASHONLY I think the reason Jeb Bush vetoed PowerBall coming too FL is maybe he didn't want it too compete with FL Lotto,I personally don't care for PowerBall when I can easily CRUISE down too Kingsland,GA which is 45min from my hometown (Jacksonville)and play Mega-Millions which is very similiar too PowerBall and better in my opinion.You know I don't mind debating differences of opinion with you because you don't turn it into a MAJOR argument like some other members I've dealt with on... [ More ]

Reply #32

CASH Only — Fri, 04 Apr 2003 20:50:21 GMT

Jazzy:Fleetwood Mac spelled _what_ with a Y ?Of course, Fleetwood Mac is/was part British-hence the name Rumours .To keep the lottery theme, if Rhiannon hit the UK National Lottery, she needn't worry; all their prizes are LUMP SUM.

Reply #31

CASH Only — Fri, 04 Apr 2003 20:12:49 GMT

Clarence:All lotteries in the contiguous US allow 18-year-olds to purchase lottery tickets, except Nebraska (19), Iowa (21) and Louisiana (21). It's currently 18 in Arizona, but will be 21 on June 1. (I'm not sure about the US Virgin Islands, which sells the same Powerball as in Connecticut, etc.)Florida has become a good state to live in if you play the lottery; the only blemish is that Jeb Bush vetoed Powerball coming to the Sunshine State. FL does it correctly when it comes to its Lotto; choo... [ More ]

Reply #30

Lottowiz34 — Fri, 04 Apr 2003 19:52:42 GMT

I can't help what someone else does with the money before I get it as long as I get the amount that I'm suppose too according to which format I choose like Annutiy .It's no different than money taken out of your paycheck before you even get it.There's nothing you can do about that either,also seeing as how my son is 10 I don't plan on waiting 8 yrs too ask him whether he wants a Lump Sum or Annual check he'll just have too accept the money the way I received it.As far as collecting on his 18th... [ More ]

Reply #29

CASH Only — Fri, 04 Apr 2003 19:12:34 GMT

RJ: I always try to find out the rules of the different lotto-type games before I play them.Nobody is forced to buy lottery tickets. My point is that the rules of some games DO NOT protect the rights of (potential) lottery players, including that of being able to collect a prize in lump sum instead of in X annual payments.I have sent numerous e-mail messages to the NY and Mass. lotteries complaining about their less-than-total respect of _legal_adults_ who wish to make their own decisions a... [ More ]

Reply #28

RJOh — Fri, 04 Apr 2003 18:51:06 GMT

All lotteries have rules and you should read them before you play. If you don't want to play by their rules, don't play and complain, there are plenty of players willing to play by their rules. When you buy a lottery ticket, you enter an agreement to play by the posted rules. If New York is forcing you to buy their lottery tickets than you may need to take them to court and get them off your back.RJOh

Reply #27

CASH Only — Fri, 04 Apr 2003 17:36:34 GMT

If there are millions of dollars on the line, the choice of cash or annuity is EXTREMELY important.What someone else does/wants to do if they win the lottery (correctly) is none of my business. I do not believe in forcing others to choose lump sum instead of annuity payments. Likewise, I _do_not_ want the decision forced on me, which is still true here in NY with a number of scratch games, as well as the 6/42 and 6/49 games in Mass.

Reply #26

RJOh — Fri, 04 Apr 2003 17:29:04 GMT

When you work for someone and they pay you a salary which you accept, they probably make a profit off your good works, but to get upsetted because they paid you as agreed and still made a profit is silly. It is more silly to argue over taking lump sum or cash if win a lottery jackpot, because you haven't ever won a lottery jackpot and chances are you never will and what others who do win chooses to do will never be any of your business.RJOh

Reply #25

CASH Only — Fri, 04 Apr 2003 17:13:21 GMT

Clarence:When someone is paid through an annuity, the company that sold the annuity to the lottery is making money off the player's winnings-the player gets NOTHING from the annuity other than what was guaranteed . Remember that some games still DO NOT allow cash in lieu of the annuity.As for your son, what if he'd rather collect in lump sum? Besides, he'll be of legal age to buy lottery tickets on his 18th birthday (assuming he lives in FL)-shouldn't he be allowed to collect on his 18th birthd... [ More ]

Reply #24

Lottowiz34 — Fri, 04 Apr 2003 16:31:57 GMT

Oh I forgot too mention that I plan on having a writtendocument stating that my son will start recieving my remaining Annual check payments once he reaches the age of 21 this can be put in my Living Will.

Reply #23

Lottowiz34 — Fri, 04 Apr 2003 16:09:26 GMT

Well I appreciate your concern CASHONLY but it doesn't really matter whether you take CASH or ANNUITY as long as you know what your doing and what you want too do with your money.You don't necessarily need an Advisor unless you haven't got a clue what too do or just want the advice.And the only way you can get screwed is if the State makes a mistake with your money somehow but as long as you get your yearly check from the Annuity or your Lump Sum there shouldn't be any problems unless it g... [ More ]

Reply #22

CASH Only — Thu, 03 Apr 2003 19:44:16 GMT

AnnuityIsHopeless: Over my dead body.

Reply #21

AnnuityIsGreat — Thu, 03 Apr 2003 19:03:18 GMT

Clarence is right Cash. Listen to him.

Reply #20

CASH Only — Thu, 03 Apr 2003 11:37:58 GMT

Clarence: I wouldn't be so sure about wanting the annuity. If you were to ever win, your advisors almost certainly would suggest you take the lump sum. I'd hate to hear of you screwing yourself because you took annuity.

Reply #19

Lottowiz34 — Thu, 03 Apr 2003 04:37:22 GMT

I'm glad my State doesn't screw us around like NY does it's players because when I win the FL Lottery I'm taking the 30 yr annual payments.I like the idea of recieving a check in the mail for the next 30 yrs.

Reply #18

CASH Only — Mon, 31 Mar 2003 19:53:52 GMT

Clarence:The NY lottery director is appointed by the governor, AFAIK the state legistature has no say. NY's governor was just elected to a third term; the lottery director was hired in 1999. (I actually met her that summer at a press conference outside a deli that had a jackpot winner; I was delivering an independant NY lottery magazine that since folded.)A better prize structure (prize return) would have to be approved by the NY legislature. The terrible prize pool in NY Lotto is a relic of the... [ More ]

Reply #17

Lottowiz34 — Mon, 31 Mar 2003 16:09:45 GMT

Also I forgot too mention that the 6/59 format is totally ridiculous we went from a 6/49 to a 6/53 if we go any higher I'm quite sure FL residents would protest.It looks too me like there only interested in making money off you guys by making the game impossible too winand giving lousy prizes.

Reply #16

Lottowiz34 — Mon, 31 Mar 2003 16:03:24 GMT

What the Hell? that's highway robbery Florida's payout structure goes like this 5of6=$5,000 4of6=$70 and 3of6=$5.How are they able too get away with that? that must be the worst prize payout format of all the State Lotteries.So what are you guys trying to do about it? here in Florida our Lottery Commission actually listens too what the players have too say if there gonna be changes too a game.They even make changes according too player requests or feedback whenever possible.Man I really feel f... [ More ]

Reply #15

CASH Only — Mon, 31 Mar 2003 02:10:58 GMT

Clarence:Exhibit A: NY Lotto 6/59. Prize pool 38-40% of sales; lowest of any US lottery game. Last night's (3/29) prize for 5-of-6: $812.00; 4-of-6: $16.00; 3-of-6 (always) $1.00Terrible prizes even when you consider NY Lotto is two games for $1.

Reply #14

Lottowiz34 — Mon, 31 Mar 2003 01:59:15 GMT

You know I read a lot of complaints about the New YorkLottery so you guys must really be getting screwed by them so my question too you is what are they doing that's causing so many New York players anger and frustration

Reply #13

CASH Only — Mon, 31 Mar 2003 01:00:36 GMT

Clarence: At least you live in Florida, where the cash/annuity choice is made AFTER you win.Here in NY, you still must choose WHEN you play. Furthermore, several of the high-end scratch games are ANNUITY-ONLY. The NY Lottery is one of the nation's most corrupt lotteries. Fortunately, I live a reasonable drive from Connecticut.

Reply #12

Lottowiz34 — Sun, 30 Mar 2003 23:10:36 GMT

Here's my personal opinion on this subject if your a Responsible Person with money then you should take the Lump Sum or the Annuity if you know how too handle your finances then the money will work for you either way depending on your current financial status and your intentions.If your not a responsible person when it comes too money and wouldn't know how toohandle a large Lump Sum of money then the Annuity option might be better for you as you learn from your mistakes along the way h... [ More ]

Reply #11

CASH Only — Sat, 29 Mar 2003 16:30:19 GMT

Mission not quite accomplished.

Reply #10

CASH Only — Wed, 26 Mar 2003 21:30:30 GMT

Sandy, haven't you read all the posts suggesting that lump sum ALMOST ALWAYS is better than annuity payments

Reply #9

CASH Only — Tue, 25 Mar 2003 02:34:17 GMT

Wiz: I would think a responsible person would know how to handle money, and therefore prefer LUMP SUM.

Reply #8

Lottowiz34 — Tue, 25 Mar 2003 02:23:55 GMT

I prefer Annuity over Lump Sum the idea of receiving a paycheck for the next 20 yrs or so would do very well if your a responsible person with money like I am.

Reply #7

CASH Only — Mon, 24 Mar 2003 16:22:49 GMT

Check out my LATEST signature

Reply #6

CASH Only — Wed, 19 Mar 2003 08:14:21 GMT

If you haven't noticed, I've been experimenting with the signature option.

Reply #5

CASH Only — Tue, 18 Feb 2003 16:06:38 GMT

Player: You didn't read that article carefully.

Reply #4

Annuityok — Tue, 18 Feb 2003 15:41:42 GMT

You could triple you jackpot buy taking annuity. let see you get $125M.By chosing Annuity you can get about $75M, that is about 3.5M/per year in for cash option you get about $44M. $3.5M is still a lot of money you can also invest it. In ten years you get about total amout roughly equal to $40M, the cash option amount. From there, you have a lot money to invest and a 3.5M/peryear steady income.It realy denpends the Jackpot amount, you age and your investment skills. IMHO

Reply #3

CASH Only — Tue, 18 Feb 2003 13:13:58 GMT

Denise: Some games' annuity options are 30 payments, including Powerball.

Reply #2

Denise — Tue, 18 Feb 2003 05:01:29 GMT

Thanks for explaining this so clearly. I would really worry about a sudden burst of inflation reducing the value of a 25 year payout. http://www.rockauto.com

Reply #1

CASH Only — Mon, 17 Feb 2003 12:29:52 GMT

How can ANYBODY disagree with that? BTW, the article was written in response to Lotto Texas, which still requires the choice when you PLAY, not after you win. Texas, California, NY need to change the rules so the choice can be made AFTER you win (remember I live in NY).

Take the Lump sum...not Annuity!

MichiganHopeful — Mon, 17 Feb 2003 11:04:27 GMT

If you win lottery, take lump sum and investBy RONALD LIPMANQ. Every time I buy a lottery ticket, they ask me whether I want the cash option or they simply assume I want the cash option. Apart from getting more money right away, which is financially smarter: taking the smaller amount now or taking the periodic payments?A. The cash option is the way to go for most people. Here's why.If you choose the annual payments, 1/25th of the total jackpot will be paid to you once a year for 25 years. If you... [ More ]