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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 ]  
Maverick's avatar - yinyang
USA
United States
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Posted: April 11, 2005, 12:37 pm - IP Logged

CO, a few days ago, I heard a guy in the store ask for $2 Lotto and $3 Mega, then I heard him say 26 annual payments. I'm not laughing at the guy, but it made me chuckle cos of all the debating at LP.


    United States
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    Posted: April 11, 2005, 2:15 pm - IP Logged

    Mav:

    I hope he lost, or at most won the $1 token prize in NY Lotto.

      LOTTOMIKE's avatar - cash money.jpg
      Tennessee
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      Posted: April 11, 2005, 3:36 pm - IP Logged

      .......DIFFERENT STROKES,DIFFERENT FOLKS....

        Avatar

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        Posted: April 12, 2005, 11:12 am - IP Logged

        Beating the incredible, insane odds and actually being in a real-life position to choose between cash and annuity is the main thing.  Whether I took the $10 million annuity or the $6 million cash would be incidental - life would be very different with a lot more options afterwards either way.  I don't think I would second guess my choice whatever it was as I was vacationing in Hawaii or beginning my non-work day with a walk to the coffee shop.

          LOTTOMIKE's avatar - cash money.jpg
          Tennessee
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          Posted: April 14, 2005, 6:45 am - IP Logged

            LOTTOMIKE's avatar - cash money.jpg
            Tennessee
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            Posted: April 14, 2005, 5:38 pm - IP Logged

            i would choose lump sum because if you choose annuity and we have a bad stock market crash or the economy gets real bad you might have trouble getting the money your owed.....

              LOTTOMIKE's avatar - cash money.jpg
              Tennessee
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              Posted: April 15, 2005, 4:42 pm - IP Logged

              is it true some states have annuity only??


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                Posted: April 15, 2005, 4:45 pm - IP Logged

                mike:

                Mass & NY each have several different annuity-only scratches (and scattered games elsewhere.) Mass Megabucks (6/42) also is annuity-only. And there are the "lose for life" games.

                  LOTTOMIKE's avatar - cash money.jpg
                  Tennessee
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                  Posted: April 16, 2005, 1:09 am - IP Logged

                  thats not fair,those scratches should have the option for lump sum also.

                    LOTTOMIKE's avatar - cash money.jpg
                    Tennessee
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                    Posted: April 16, 2005, 4:49 pm - IP Logged

                    i'm wondering now if the scratch win for lifes in tennessee are annuity only or do you have a cash option........

                      megamillionaire's avatar - Sphere animated_small_ neg2.gif
                      Queens, NY
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                      Posted: April 16, 2005, 11:30 pm - IP Logged

                      Show me the money, cash ONLY. T-bills, tax free Muni's, bonds are where I'll put the cash and not have anyone else handling my money for 30 years.

                      Megamillionaire

                      Time is a wonderful teacher, but it kills all its students.

                      A man must consider what a rich realm he leaves when he becomes a conformist.

                        LOTTOMIKE's avatar - cash money.jpg
                        Tennessee
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                        Posted: April 18, 2005, 6:18 am - IP Logged

                          LOTTOMIKE's avatar - cash money.jpg
                          Tennessee
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                          Posted: April 21, 2005, 9:39 pm - IP Logged

                          it looks like so far 55 have been for lump sum and 14 have been for annuity,the lump sum looks like the prefered choice....

                            LOTTOMIKE's avatar - cash money.jpg
                            Tennessee
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                            Posted: April 21, 2005, 9:47 pm - IP Logged

                            i'll say this one more time,with the way the world is right now i would want my money all at once,i don't trust annuity....

                              LOTTOMIKE's avatar - cash money.jpg
                              Tennessee
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                              Posted: April 22, 2005, 3:35 pm - IP Logged

                              especially if there is another terrorist attack or something of that nature,you don't wanna be stuck without the money when you really need it most.......

                                 
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