annuity is the way to go

Reply #16

CASH Only — Thu, 01 Jul 2004 22:57:43 GMT

Same here in NY, and also in TX.

Reply #15

CalifDude — Thu, 01 Jul 2004 22:56:53 GMT

Quote: Originally posted by Fwup on July 01, 2004Quote: Originally posted by CalifDude on July 01, 2004I have for years shown people why the lump sum is best, but it is about 2 pages long and does a number of possible situations. Everyone that I have shown it to agrees after seeing it that the lump sum is best. I'd like to see it, if possible.I can't find it now! It was on my old computer and didn't get transfered to this computer. I will work up another one and post it.

Reply #14

CalifDude — Thu, 01 Jul 2004 22:54:05 GMT

Quote: Originally posted by rabbitfoot on July 01, 2004Being married, I would encourage my wife to take her half in an annuity and I would go for the lump sum. But, out of my half ($45,500,000 after taxes), I could still buy an annuity on my own if I wanted to. There's a lot of possibilities! In California we can't do that. You have to choose when you buy your ticket if you want cash or annual payments. It can not be changed after you win and you can't get both.

Reply #13

rabbitfoot — Thu, 01 Jul 2004 17:19:24 GMT

Being married, I would encourage my wife to take her half in an annuity and I would go for the lump sum. But, out of my half ($45,500,000 after taxes), I could still buy an annuity on my own if I wanted to. There's a lot of possibilities

Reply #12

skydivingsurfer — Thu, 01 Jul 2004 17:16:08 GMT

cash that is...not cas....lol

Reply #11

skydivingsurfer — Thu, 01 Jul 2004 17:15:45 GMT

always take the cas i say..........its highly impossible to spend 164 million in 1 lifetime. and who knows what could happen in the future w/state gov'ts....

Reply #10

Fwup — Thu, 01 Jul 2004 16:18:05 GMT

Quote: Originally posted by CalifDude on July 01, 2004 I have for years shown people why the lump sum is best, but it is about 2 pages long and does a number of possible situations. Everyone that I have shown it to agrees after seeing it that the lump sum is best.I'd like to see it, if possible.

Reply #9

CalifDude — Thu, 01 Jul 2004 14:31:07 GMT

I have for years shown people why the lump sum is best, but it is about 2 pages long and does a number of possible situations. Everyone that I have shown it to agrees after seeing it that the lump sum is best.There was a news article (I believe here on this site) that said that the experts agree that lump sum is best.It isn't worth an argument, but I think the lump sum is best. If you can't get better than 5% on your lump sum investment, then you should take the annual payments. But most of u... [ More ]

Reply #8

Fwup — Thu, 01 Jul 2004 05:29:40 GMT

I would take the annuity. It's probably possible to invest the lump sum to get a better rate of return than the annuity, but it isn't probable. Unless you want to risk losing your money you'd have to invest in very conservative investments, which is basically what would happen if you took the annuity, so why bother? Let the lottery people invest it for you.If you took the lump sum you wouldn't actually have access to the lump sum, because the majority of it would be tied up in investments. Same... [ More ]

Reply #7

whodeani — Thu, 01 Jul 2004 04:25:05 GMT

Have to take the cash. You will be able to invest that money at a higher rate yourself and you will have more money in the long run. What's more, if you take the annuity, $280 million 30 years from now is not going to be worth what $280 million is today. So are you really getting $280 million??? You won't getting the biggest bang for the buck with the annuity. You want what the present value of that money is because it will be worth more to you now than it will be 30 years from now. If you have... [ More ]

Reply #6

Tx_Mega_Player — Thu, 01 Jul 2004 02:36:43 GMT

Quote: Originally posted by hypersoniq on June 30, 2004I would definitely take the lump sum... I have a plan, mostly set up in excel, I am prepared to deal with the winfall... I just can't seem to win...Hype, I agree with you. Lump sum all the way for me. I too have a detailed plan, and it includes who I will help, how I will help them, the type of busniesses that I plan to start, and how I will keep of blowing it all. I also have plans to establish a charitable foundation that will be my lasti... [ More ]

Reply #5

weshar75 — Thu, 01 Jul 2004 02:28:11 GMT

In my opinion if I was ever lucky enough to win I would choose the annuity because I am 28 years old and like the stablity of an annual payment. I am sure as I get older my views will change to just taking the cash option once I pass a certain age.

Reply #4

hypersoniq — Thu, 01 Jul 2004 02:19:34 GMT

There are as many reasons to choose cash or annuity as there are players...I would definitely take the lump sum... I have a plan, mostly set up in excel, I am prepared to deal with the winfall... I just can't seem to win...If you have no idea what to do, it's not rocket science...1. win2. consult an attorney, tax planner, financial planner3. decide the proper course of action for your situation... with expert advice!It's not fair when the state makes you choose before you play.... what if you DI... [ More ]

Reply #3

dphillips — Thu, 01 Jul 2004 02:13:23 GMT

In my opinion, the annunity option is personal because each winner has different financial circumstances. For example:1. Age - if the winner wins between the ages of 20 and 30 and the annunity payments are over a 25-30 year payout, it would be economically feasible. On the other hand, if the person is 40 years or older, perhaps the annunity payments would not be prudent: they could contemplate the cash payment. Since we do not know when we are going to die, annunity or cash options are major

Reply #2

ONEDAY — Thu, 01 Jul 2004 01:32:05 GMT

I was just thinking that today..the lotto plus in ohio was 14 millon..so I played, usually it has to be bigger for me..well,I lost! (used Quick pick)I was thinking 400,000 a year after taxes is not bad for 30 years! thats a few hundred thousand more I have now

Reply #1

Guest — Thu, 01 Jul 2004 01:20:56 GMT

If i won I would really like to help families. I would take annuity so that I could select ten families to have them also receive 10 million each as annuity also. They would be responsible for paying their own taxes. I would have $180 million left for myself. I would know that I really have help someone.Tom

annuity is the way to go

bobo7703 — Wed, 30 Jun 2004 23:41:32 GMT

what do you say