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Will it be broken this year?

Yes

[ 7 ]

[ 33.3% ]

[ 13 ]

[ 61.9% ]

Won't guess

[ 1 ]

[ 4.8% ]

Total valid votes

[ 21 ]

Discarded votes

[ 0 ]

CASH Only

United States
Member #379
June 5, 2002
11,296 Posts
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Jun 7, 2006, 11:14 am

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?
Just6ntlc

United States
Member #16,611
June 2, 2005
3,493 Posts
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Jun 7, 2006, 11:38 am

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

United States
Member #12,618
March 18, 2005
2,060 Posts
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Jun 7, 2006, 12:20 pm

There is bound to be someone who rather have annuity then cash so I said yes.
spy153

United States
Member #28,408
December 15, 2005
1,200 Posts
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Jun 8, 2006, 11:19 am

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!
dvdiva

United States
Member #2,338
September 17, 2003
2,063 Posts
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Jun 8, 2006, 11:04 pm

Judging from what future tax rates will be you'd be better off with tax free bonds than the lotteries annuity.
JimmySand9

United States
Member #1,826
July 11, 2003
2,645 Posts
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Jun 8, 2006, 11:22 pm

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

(insert signature here)
JimmySand9

United States
Member #1,826
July 11, 2003
2,645 Posts
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Jun 8, 2006, 11:22 pm

Quote: Originally posted by Just6ntlc on June 7, 2006
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

Charlotte, North Carolina
United States
Member #36,130
March 28, 2006
50 Posts
Offline

Jun 8, 2006, 11:27 pm

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!
Prob988

New Jersey
United States
Member #21,205
September 4, 2005
963 Posts
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Jun 9, 2006, 12:01 pm

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.
ryanm

Morrison, IL
United States
Member #4,657
May 13, 2004
1,885 Posts
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Jun 9, 2006, 1:23 pm

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

United States
Member #38,686
May 3, 2006
315 Posts
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Jun 9, 2006, 5:38 pm

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

waiting patiently for my jackpot
DoubleDown

Coastal Georgia
United States
Member #2,653
October 30, 2003
1,866 Posts
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Jun 9, 2006, 5:51 pm

Quote: Originally posted by Just6ntlc on June 7, 2006
My vote is for yes if and only if the winner doesn't change the option to cash.
Isn't that the point ?
ryanm

Morrison, IL
United States
Member #4,657
May 13, 2004
1,885 Posts
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Jun 9, 2006, 6:19 pm

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

Wandering Aimlessly
United States
Member #25,359
November 5, 2005
4,461 Posts
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Jun 10, 2006, 5:43 pm

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!
CASH Only

United States
Member #379
June 5, 2002
11,296 Posts
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Jun 14, 2006, 9:41 am

Quote: Originally posted by chasingadream on June 9, 2006
i know if I win, reguardless of the amount it will be annuity. Hopfully I will break the record.....
You may be dreaming of winning an annuity, but if you ever hit, reality will sink in, and you will choose lump sum.

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