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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 ]  

United States
Member #5565
July 11, 2004
260 Posts
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Posted: June 15, 2005, 7:23 pm - IP Logged

looks like in Virginia you can convert your future annuity payments to cash at anytime..  there's no need for winner's remorse if you change your mind.

 
http://vawinners.com/index.html

 

    LOTTOMIKE's avatar - cash money.jpg
    Tennessee
    United States
    Member #7853
    October 15, 2004
    11338 Posts
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    Posted: June 16, 2005, 6:38 am - IP Logged

    looks like in Virginia you can convert your future annuity payments to cash at anytime..  there's no need for winner's remorse if you change your mind.

     
    http://vawinners.com/index.html

     

    thats a very good option to have.

      LOTTOMIKE's avatar - cash money.jpg
      Tennessee
      United States
      Member #7853
      October 15, 2004
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      Posted: June 19, 2005, 6:06 pm - IP Logged

      when a record jackpot is won and breaks the "whittaker" mark i wonder if that person will choose cash or annuity?


        United States
        Member #379
        June 5, 2002
        11296 Posts
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        Posted: June 20, 2005, 9:33 am - IP Logged

        It better be cash.

          LOTTOMIKE's avatar - cash money.jpg
          Tennessee
          United States
          Member #7853
          October 15, 2004
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          Posted: June 21, 2005, 4:43 pm - IP Logged

          It better be cash.

          almost 3 out of every 4 people polled here chose cash.....

            emilyg's avatar - cat anm.gif

            United States
            Member #14
            November 9, 2001
            31344 Posts
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            Posted: June 21, 2005, 6:58 pm - IP Logged

             

             

             

                                                                                        Bed

            love to nibble those micey feet.

             

                                         

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              United States
              Member #1826
              July 11, 2003
              2645 Posts
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              Posted: June 21, 2005, 7:21 pm - IP Logged

              It better be cash.

              They better be responsible.

              (insert signature here)

                LOTTOMIKE's avatar - cash money.jpg
                Tennessee
                United States
                Member #7853
                October 15, 2004
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                Posted: June 22, 2005, 6:42 am - IP Logged

                It better be cash.

                They better be responsible.

                we don't need anymore jack whittakers thats for sure....

                  Thomas Covenant's avatar - money
                  South Carolina
                  United States
                  Member #491
                  July 16, 2002
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                  Posted: June 24, 2005, 6:02 pm - IP Logged

                  The annuity invests the cash pre-tax. You would be hard pressed making up the difference if you took the lump sum.


                  Okay, now I believe you can predict lottery numbers

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                    Blaine WA
                    United States
                    Member #17275
                    June 15, 2005
                    117 Posts
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                    Posted: June 24, 2005, 7:51 pm - IP Logged

                    with inflation the annuity may lose a lot of it's value.

                    taking all cash should allow your invested cash to keep pace with inflation.

                      LOTTOMIKE's avatar - cash money.jpg
                      Tennessee
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                      October 15, 2004
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                      Posted: June 24, 2005, 11:28 pm - IP Logged

                      thats a good point,i agree...

                        LOTTOMIKE's avatar - cash money.jpg
                        Tennessee
                        United States
                        Member #7853
                        October 15, 2004
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                        Posted: July 6, 2005, 7:57 am - IP Logged

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


                          United States
                          Member #379
                          June 5, 2002
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                          Posted: July 6, 2005, 11:14 am - IP Logged

                          It better be cash.

                            LOTTOMIKE's avatar - cash money.jpg
                            Tennessee
                            United States
                            Member #7853
                            October 15, 2004
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                            Posted: July 9, 2005, 2:34 am - IP Logged

                            I Agree!,you got that right.

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                              New Member
                              Diamond Bar, CA
                              United States
                              Member #18479
                              July 13, 2005
                              1 Posts
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                              Posted: July 13, 2005, 1:00 am - IP Logged

                              The only problem we have with picking the annuity is that the annuity company works for the state of CA--if CA ever has budget problems, then they issue an IOU warrant which can't be cashed at a bank...it is worthless...what happens if you need the money?

                              Also, the overhead for the state is very high...about 17%...I can invest better than the state can. They buy zero coupon bonds which pay a low amount of interest...

                               

                                 
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