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Record annuity prize

Topic closed. 14 replies. Last post 10 years ago by CASH Only.

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Will it be broken this year?

Yes [ 7 ]  [33.33%]
No [ 13 ]  [61.90%]
Won't guess [ 1 ]  [4.76%]
Total Valid Votes [ 21 ]  
Discarded Votes [ 0 ]  

United States
Member #379
June 5, 2002
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Posted: June 7, 2006, 11:14 am - IP Logged

The largest US lottery prize paid as an annuity was for about $111 million to a Wisconsin couple in 1993 in Powerball. There were only a few lotto games with cash options then. Will a larger lottery prize be paid as an annuity to a "winner" later this year?


    United States
    Member #16612
    June 2, 2005
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    Posted: June 7, 2006, 11:38 am - IP Logged

    My vote is for yes if and only if the winner doesn't change the option to cash.

      bellyache's avatar - 64x64a9wg

      United States
      Member #12618
      March 18, 2005
      2060 Posts
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      Posted: June 7, 2006, 12:20 pm - IP Logged

      There is bound to be someone who rather have annuity then cash so I said yes.

        spy153's avatar - maren

        United States
        Member #28409
        December 15, 2005
        1198 Posts
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        Posted: June 8, 2006, 11:19 am - IP Logged

        If the annuity reaches over a million a year, I would choose annuity. I know we are not promised tomorrow. But this way, I couldn't lose it all to bad investments and stupid purchases.

        voir-vous dans mes reves!Cool

          dvdiva's avatar - 8ball

          United States
          Member #2338
          September 17, 2003
          2063 Posts
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          Posted: June 8, 2006, 11:04 pm - IP Logged

          Judging from what future tax rates will be you'd be better off with tax free bonds than the lotteries annuity.

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            United States
            Member #1826
            July 11, 2003
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            Posted: June 8, 2006, 11:22 pm - IP Logged

            No. Most people are smart enough to take the lump sum if given the opportunity.

            (insert signature here)

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              United States
              Member #1826
              July 11, 2003
              2645 Posts
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              Posted: June 8, 2006, 11:22 pm - IP Logged

              My vote is for yes if and only if the winner doesn't change the option to cash.

              How else could it happen? Who are you, Yogi Berra?

              (insert signature here)

                loves2lotto's avatar - Lottery-029.jpg
                Charlotte, North Carolina
                United States
                Member #36131
                March 28, 2006
                50 Posts
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                Posted: June 8, 2006, 11:27 pm - IP Logged

                I voted no, only because people want the money now and right now. I wouldn't take the cash option if the jackpot was over 200 million dollars. 6 or 7 million before taxes isn't half bad.

                I see a huge powerball win in my future!

                                        Hyper

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                  New Jersey
                  United States
                  Member #21206
                  September 4, 2005
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                  Posted: June 9, 2006, 12:01 pm - IP Logged

                  The annuity is just an investment like any other investment.  Unfortunately it is not a very diverse investment, being tied up mostly in government bonds.

                  It is smart to invest your money rather than spend it.  Anyone who refuses the annuity should do this, but invest their money broadly.  One should have stocks, bonds, domestic and overseas (although I'd go heavily on overseas), investment real estate, etc.  One should not, for instance, have just one investment advisor but many - give each a million dollars to manage and see who performs well and who doesn't. 

                   One should not spend the money on high living, on the other hand. 

                   The only way one should consider the annuity is if one knows that one will squander it on living.  I note that in the case of taking the annuity, one is betting that the government will not squander the money in high living.  These days that is not a very good bet.

                   

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                    Morrison, IL
                    United States
                    Member #4657
                    May 13, 2004
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                    Posted: June 9, 2006, 1:23 pm - IP Logged

                    Yeah, the people who run the government are damn greedy! The country's going in the crapper because all the people in the executive (especially Bush and Cheney), legislative, and judicial branches care about is money!

                      chasingadream's avatar - Archangel 01.jpg

                      United States
                      Member #38687
                      May 3, 2006
                      315 Posts
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                      Posted: June 9, 2006, 5:38 pm - IP Logged

                      i know if I win, reguardless of the amount it will be annuity. Hopfully I will break the record.....Party

                      Oogle  waiting patiently for my jackpot

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                        Coastal Georgia
                        United States
                        Member #2653
                        October 30, 2003
                        1866 Posts
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                        Posted: June 9, 2006, 5:51 pm - IP Logged

                        My vote is for yes if and only if the winner doesn't change the option to cash.

                        Isn't that the point ?

                         

                         

                                                       

                                      

                         

                         

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                          Morrison, IL
                          United States
                          Member #4657
                          May 13, 2004
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                          Posted: June 9, 2006, 6:19 pm - IP Logged

                          lol hopefully if a winner does take the annuity it will be by default

                            justxploring's avatar - villiarna
                            Wandering Aimlessly
                            United States
                            Member #25360
                            November 5, 2005
                            4461 Posts
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                            Posted: June 10, 2006, 5:43 pm - IP Logged

                            I have no idea what I would do, but I've felt the same way sometimes.  I know how to invest money now (at least I think I do!) but I also made some risky moves years ago that cost me plenty. That being said,  I answered "no" because almost everyone who wins a huge jackpot takes the lump sum payment. If I won over $100M I would probably would take the money and run. I hope I get the chance to find out!


                              United States
                              Member #379
                              June 5, 2002
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                              Posted: June 14, 2006, 9:41 am - IP Logged

                              i know if I win, reguardless of the amount it will be annuity. Hopfully I will break the record.....Party

                              You may be dreaming of winning an annuity, but if you ever hit, reality will sink in, and you will choose lump sum.