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Cash or annuity

Topic closed. 48 replies. Last post 8 years ago by psykomo.

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You want cash or annuity now

cash [ 55 ]  [77.46%]
annuity [ 16 ]  [22.54%]
Total Valid Votes [ 71 ]  
Discarded Votes [ 0 ]  
JAP69's avatar - alas
South Carolina
United States
Member #6
November 4, 2001
8790 Posts
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Posted: September 16, 2008, 9:03 pm - IP Logged

With the current crisis in the money sector would you consider your options more seriously with the choices.

I do not know who guarantees these annuities but I would certainly find out with the mess going on now.

Multi millions is not chump change to lose.

This question has been asked before but times have changed very quickly.

WHATT

    time*treat's avatar - radar

    United States
    Member #13130
    March 30, 2005
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    Posted: September 16, 2008, 9:13 pm - IP Logged

    Cash now. Times haven't changed; people just chose to ignore the early warnings.

    In neo-conned Amerika, bank robs you.
    Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.


      United States
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      June 22, 2005
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      Posted: September 16, 2008, 9:20 pm - IP Logged

      I chose the cash when it first was available. I could never look back. The annuity never appealed to me. One reason is that my life priorities change every 6 months or so, delegated by circumstances either in my control or out....lol

        Avatar

        United States
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        June 4, 2008
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        Posted: September 16, 2008, 9:34 pm - IP Logged

        I never would have taken annuity for the fact that I don't like to owe money.if I was going to buy a house or car I want to pay in full and not owe anything on it.

          diamondpalace's avatar - Untitled 2.jpg
          Dallas, TX
          United States
          Member #60284
          April 12, 2008
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          Posted: September 16, 2008, 9:38 pm - IP Logged

          Cash, with good investment you can make more towards the annual payout over cash option.

            BaristaExpress's avatar - BaristaExpressMX zpsfb0d8b5d.png
            Magnolia, Delaware
            United States
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            July 20, 2005
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            Posted: September 16, 2008, 11:00 pm - IP Logged

            I never would have taken annuity for the fact that I don't like to owe money.if I was going to buy a house or car I want to pay in full and not owe anything on it.

            But with being a multi-millionaire you need write offs (home loan(s), car leases) to keep Uncle Sam out of your now deep pockets! Charities are good for some write offs but a home mortgage is the best long term one out there! 50% down on a large home (1-2 million dollar home) at todays rates will give you a nice write off on your over all tax bill.

            Keep dreaming the impossible dream, it just may come true! Thumbs Up

              BaristaExpress's avatar - BaristaExpressMX zpsfb0d8b5d.png
              Magnolia, Delaware
              United States
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              July 20, 2005
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              Posted: September 16, 2008, 11:02 pm - IP Logged

              Oh I forgot to say what I'd take.... CASH ALWAYS!!

              Keep dreaming the impossible dream, it just may come true! Thumbs Up

                ThatScaryChick's avatar - x1MqPuM
                Idaho
                United States
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                November 21, 2007
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                Posted: September 17, 2008, 12:12 am - IP Logged

                I would take cash.

                "No one remembers the person who almost climbed the mountain, only the person who eventually gets to the top."

                  Avatar
                  Northern Ohio
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                  August 1, 2008
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                  Posted: September 17, 2008, 12:28 am - IP Logged

                  Cash FTW.

                  I know enough about finance, securities and commodities trading, regulations, market patterns, etc to reasonably expect to generate a better return than the annuity. Of course, one may stand to lose more money as well. My jp money will probably go to collect interest at first, until I get a better feel for handling all the money. That's a 5% return, at the best.

                    Avatar
                    NY
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                    October 16, 2005
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                    Posted: September 17, 2008, 1:42 am - IP Logged

                    But with being a multi-millionaire you need write offs (home loan(s), car leases) to keep Uncle Sam out of your now deep pockets! Charities are good for some write offs but a home mortgage is the best long term one out there! 50% down on a large home (1-2 million dollar home) at todays rates will give you a nice write off on your over all tax bill.

                    You're joking, right? I know people want to reduce their taxes, but anyone who wants to pay 50 grand in interest to save 17 grand in taxes is either an idiot or has a seriously irrational hatred of taxes. There are two sensible reasons to take a mortgage when you can afford to pay cash. One is if you want to use that cash for something else. The other is preserving your principal if you lack the discipline to   pay yourself back after paying cash. Taking a mortgage for the second reason probably means you should have taken the annuity.

                      Uff Da!'s avatar - InCelebration 001.jpg
                      Washington State
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                      February 26, 2006
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                      Posted: September 17, 2008, 12:02 pm - IP Logged

                      Cash for me, thank you.  Two reasons:

                      (1)  Although I tell everyone that I plan to live to be 101, statistically speaking that's not likely and an annuity would likely outlive me.  I see no point in putting my heirs to extra hassles in getting the estate settled.

                      (2)  I'm something of a contrarian.  I'd love to have plenty of cash to start investing in the stock market right now and in the coming months.  Sure, there are going to be more financial problems among various companies, but the best time to buy is when the market is down.  Businesses aren't all going to go under.  Without taking too large a position in any one company, thinking long-term, and avoiding high-risk positions, I think I'd do fine over my expected life span.

                        Raven62's avatar - binary
                        New Jersey
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                        June 28, 2005
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                        Posted: September 17, 2008, 12:02 pm - IP Logged

                        I never would have taken annuity for the fact that I don't like to owe money.if I was going to buy a house or car I want to pay in full and not owe anything on it.

                        LOL: You'll still owe Taxes on the House every year!

                        A mind once stretched by a new idea never returns to its original dimensions!

                          Coin Toss's avatar - shape barbed.jpg
                          Zeta Reticuli Star System
                          United States
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                          January 17, 2006
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                          Posted: September 17, 2008, 12:26 pm - IP Logged

                          Cash for several reasons, one of them being the approach of........

                          Dec 21 2012!

                          Scared

                          Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                          Lep

                          There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                            dvdiva's avatar - 8ball

                            United States
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                            September 17, 2003
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                            Posted: September 18, 2008, 1:41 am - IP Logged

                            Finally a question that's never been asked before. Razz

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                              United States
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                              August 5, 2008
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                              Posted: September 18, 2008, 2:09 am - IP Logged

                              cash baby