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POLL: Best reason for cash

Topic closed. 19 replies. Last post 9 years ago by JAP69.

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What's the best reason to opt for cash vs annuity?

Have to get past Dec 21, 2012 [ 2 ]  [6.45%]
Possible Martian invasion [ 1 ]  [3.23%]
The last annuity payment might be chump change [ 2 ]  [6.45%]
What if the world ends? [ 3 ]  [9.68%]
Concern over the amero or euros [ 2 ]  [6.45%]
I want to blow it all at once! [ 4 ]  [12.90%]
All the above [ 10 ]  [32.26%]
Other [ 7 ]  [22.58%]
Total Valid Votes [ 31 ]  
Discarded Votes [ 2 ]  
justxploring's avatar - villiarna
Wandering Aimlessly
United States
Member #25360
November 5, 2005
4461 Posts
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Posted: March 9, 2008, 1:34 am - IP Logged

If I get my money all at once, I reduce the chances that someone else has been rolling around naked in any of it.

         Green laugh

    rubberbandman's avatar - Spawn Classic.jpg
    mn
    United States
    Member #59040
    March 4, 2008
    276 Posts
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    Posted: March 11, 2008, 5:23 pm - IP Logged

    With 230 mill you wouldnt need cash option, if you choose annuity you will receive 6+ million per year, and it increases EVERY year

      Bagent's avatar - avatar 10424.gif
      Vancouver, WA
      United States
      Member #53665
      July 15, 2007
      151 Posts
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      Posted: March 12, 2008, 3:16 am - IP Logged

      True, but with the annuity you have to think about the your age.  If you are in your 50s or so, would you live the 30 years to receive all of the annuities?  If you died prior to all the annuities could your surviving family members pay the lump sum taxes on what remains in the annuities.  While the annuities are nice, I would rather take the lump sum and have total control over how and where my money is being used.  Call me selfish, but having the lump sum gives me a little more leverage to negotiate deals on things that I want. 

        Pinkpansies's avatar - Lottery-050.jpg

        United States
        Member #58857
        February 27, 2008
        112 Posts
        Offline
        Posted: March 12, 2008, 8:07 pm - IP Logged

        I voted for the last payment would probably be chump change.  Who knows what that many years of inflation would do.   

        One thing I'd like to know about the annuity.  At the end of the 26-29 year spell do they get to keep the original cash amount (ie. you only got the interest payments off of it, none of the principal) or do they gradually pay it so you get 100% of the original principal and all of the interest, minus any applicable taxes of course.

          JAP69's avatar - alas
          South Carolina
          United States
          Member #6
          November 4, 2001
          8790 Posts
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          Posted: March 12, 2008, 8:22 pm - IP Logged

          Give me the cash

          I want to purchase gold bullion as quick as possible.