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cash vs. annuity

Topic closed. 267 replies. Last post 11 years ago by CASH Only.

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if you won a jackpot,pick lump sum cash or annuity

i'd pick lumo sum cash [ 82 ]  [73.21%]
i'd pick annuity [ 22 ]  [19.64%]
undecided [ 8 ]  [7.14%]
Total Valid Votes [ 112 ]  
Discarded Votes [ 7 ]  
Thomas Covenant's avatar - money
South Carolina
United States
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July 16, 2002
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Posted: May 22, 2005, 12:25 pm - IP Logged






What about half lump sum and half annuity?





You know they should have that option as well. i think many people would go that route. Tax wise it might not be a great idea. but for people whom have a problems handling their money it might be a good thing.



I think I read somewhere that someone did do this. But an annuity isn't just for people who can't handle money. A pre-tax investment is hard to beat. Which would you rather invest?

$102,200,000 or $69,496,000?


Okay, now I believe you can predict lottery numbers

    LOTTOMIKE's avatar - cash money.jpg
    Tennessee
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    Posted: May 22, 2005, 5:38 pm - IP Logged

    half lump sum and half annuity seems like a good idea just in case spending habits get out of control...

      LOTTOMIKE's avatar - cash money.jpg
      Tennessee
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      Posted: May 24, 2005, 3:17 pm - IP Logged



      What about half lump sum and half annuity?



      i was wondering can you actually do this in some states?


        United States
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        Posted: May 24, 2005, 4:36 pm - IP Logged

        I've heard of "half-n-half" only once, I believe in MO.

          LOTTOMIKE's avatar - cash money.jpg
          Tennessee
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          Posted: May 25, 2005, 6:41 am - IP Logged

          is new york annuity only?

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            United States
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            July 11, 2003
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            Posted: May 25, 2005, 11:54 am - IP Logged



            is new york annuity only?



            You have to make your final decision when you buy tickets, but there is a cash option.

            (insert signature here)

              LOTTOMIKE's avatar - cash money.jpg
              Tennessee
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              Posted: May 25, 2005, 3:25 pm - IP Logged

              thanks for the information i wasn't sure....


                United States
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                Posted: May 26, 2005, 6:30 pm - IP Logged

                NY has annuity-only scratch games, including three versions of Lose for Life.

                  LOTTOMIKE's avatar - cash money.jpg
                  Tennessee
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                  Posted: May 27, 2005, 3:09 pm - IP Logged

                  those scratch games should be fair and offer a lump sum too.....

                    LOTTOMIKE's avatar - cash money.jpg
                    Tennessee
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                    Posted: May 28, 2005, 7:20 pm - IP Logged

                    i wonder if the next powerball winner will choose cash or annuity....

                      Fwup's avatar - babylaugh 086.gif

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                      Posted: May 28, 2005, 9:19 pm - IP Logged



                      i wonder if the next powerball winner will choose cash or annuity....



                      I'm going to choose cash.

                        MMGuy's avatar - waveform
                        Houston, Tx
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                        March 28, 2005
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                        Posted: May 29, 2005, 8:11 pm - IP Logged






                        i wonder if the next powerball winner will choose cash or annuity....





                        I'm going to choose cash.



                        Good Decision! Cash is the only way to go in my opinion.

                          LOTTOMIKE's avatar - cash money.jpg
                          Tennessee
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                          Posted: May 30, 2005, 3:36 pm - IP Logged

                          the winner was from idaho in the saturday powerball drawing.i think the last winner from idaho a few months back got annuity....

                            LOTTOMIKE's avatar - cash money.jpg
                            Tennessee
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                            Posted: June 1, 2005, 3:44 pm - IP Logged

                            we will have to wait and see whether or not the idaho winner chooses cash or annuity...

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                              New Member
                              Wisconsin
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                              June 2, 2005
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                              Posted: June 2, 2005, 3:28 am - IP Logged

                              If you take the annuity, the lottery will actually end up making more money off of your winnings over time...heh. Sad but try. They do indeed invest it and gain interest off that money. That's why you should take the lump sum up front. What you get is an entire jumble of money making interest...how much interest? Well that depends on the bank, but at a standard 8percent compounding interest on just 10million...you will be making a little under 1 million per year in interest after 5 years...see how lump sum works??

                               When you take annuity, you're giving the lottery lump sum and they cash in on the interest. Lump sum is always the wisest way to go.

                                 
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