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Cash Vs Annuity Payments

Topic closed. 98 replies. Last post 5 years ago by rdgrnr.

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well..... Would you rather take the payments or the cash option?..feel free to explain why....

Annuity Payments [ 13 ]  [15.12%]
Cash Option [ 73 ]  [84.88%]
Total Valid Votes [ 86 ]  
Discarded Votes [ 2 ]  
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Phoenix
United States
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February 10, 2012
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Posted: February 10, 2012, 11:49 pm - IP Logged

I personally (before cunsulting a tax attorney or cpa aka accountant) would take the payments. i know i am pretty bad with money so to have it regulated i would feel more secure.


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    Posted: February 11, 2012, 12:31 am - IP Logged

    The way the economy is right now were a lot states are struggling to pay the most necessary service like police, firefighters etc

    who is to say you will get your payment for the next 30 years

    I would rather take the cash payout and invest my money the way I wantDance

      weshar75's avatar - Lottery-042.jpg
      Mcminnville, Oregon
      United States
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      December 13, 2003
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      Posted: February 11, 2012, 12:32 am - IP Logged

      I am 36 so I would take the annuity and get a will in case I died before the payments paid out.  I would will my payments to my niece she is level headed and young only 17 so she could enjoy the money if I am gone.-weshar75

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        Phoenix
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        Posted: February 11, 2012, 12:41 am - IP Logged

        i dont think you can will the payments if you can awesome!!

        i feel ya it would be nice to be 50 and have everything you want and still get millions in the mail

          zinniagirl's avatar - flower avatar_0026.jpg
          nc
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          Posted: February 11, 2012, 12:42 am - IP Logged

          For me it would be the cash option.   I would rather pay the taxes upfront and then only pay on the interest or profits made of the rest.  Taxes seem to go up every year!

            Coin Toss's avatar - shape barbed.jpg
            Zeta Reticuli Star System
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            Posted: February 11, 2012, 1:17 am - IP Logged

            I personally (before cunsulting a tax attorney or cpa aka accountant) would take the payments. i know i am pretty bad with money so to have it regulated i would feel more secure.

            This has been discussed quite a bit here, but since you say you are bad with money what would you do if you won a jackpot, took thre annuity and then one of those you-need-it-now companies stared waving cash at you (which would be pennies on the dollar)?

            Someone here at LP has or had a signature line, "You can always buy a better annuity".

            Don't forget, what sounds like a major score on an annual basis may not be that big of a deal years down the road.

            And as has been mentioned already by mrcoco5 and zinniagirl, desperate state governments and rising taxes could come into play, too.

            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.

              savagegoose's avatar - ProfilePho
              adelaide sa
              Australia
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              April 11, 2006
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              Posted: February 11, 2012, 3:12 am - IP Logged

              I personally (before cunsulting a tax attorney or cpa aka accountant) would take the payments. i know i am pretty bad with money so to have it regulated i would feel more secure.

              no matter how bad you think you are with money,the government is FAR FAR WORSE.

              take the cash and run

              2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

              keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297


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                Posted: February 11, 2012, 7:31 am - IP Logged

                no matter how bad you think you are with money,the government is FAR FAR WORSE.

                take the cash and run

                I Agree!

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                  Posted: February 11, 2012, 10:06 am - IP Logged

                  Take the cash, invest some wisely and buy property.  Gerald O'Hara taught me that when I was a little girl.

                   

                  "Why, land is the only thing in the world worth workin' for, worth fightin' for, worth dyin' for, because it's the only thing that lasts."

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                    Phoenix
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                    Posted: February 11, 2012, 10:21 am - IP Logged

                    haha no if i did take the annuity i would never go to bj bluntwerth. you all make good points. and yes land would be a good investment

                    i would probably do the warren buffet start up technique.....buy some pin ball machines!!!

                    i searched the last time a cash vs annuity topic started it was late 2004 and it was a 1 page thread....we might beat em!!!!!

                    good luck to all tonight i hope you all give my jackpot more money

                      Coin Toss's avatar - shape barbed.jpg
                      Zeta Reticuli Star System
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                      Posted: February 11, 2012, 10:29 am - IP Logged

                      No, more than just one since 2004.

                      Just type annuity in the Search feature.

                      http://www.lotterypost.com/search?q=annuity

                      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.

                        Piaceri's avatar - sarsony1
                        Republic of Texas
                        United States
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                        Posted: February 11, 2012, 11:53 am - IP Logged

                        No one over the age of 30 should take the annuity. If you are bad with money, set up a trust with a trusted manager(s).  Even for under 30's, I'd not choose annutity. At my age, annuity is not an option. I'm within 20 years of retiring and it would sure be nice to retire or semi-retire early and have more years to spend with my future grandchildren in complete financial security.

                        face

                        singlewinnersinglewinnersinglewinner   

                          rdgrnr's avatar - walt
                          Way back up in them dadgum hills, son!
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                          Posted: February 11, 2012, 12:00 pm - IP Logged

                          Take the cash, invest some wisely and buy property.  Gerald O'Hara taught me that when I was a little girl.

                           

                          "Why, land is the only thing in the world worth workin' for, worth fightin' for, worth dyin' for, because it's the only thing that lasts."

                                                I Agree! A lotta property, away from big cities.


                                                                       
                                               
                                                                   

                           

                           

                           

                           

                                                                                                                             

                          "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                                      --Edmund Burke

                           

                           

                            Uff Da!'s avatar - InCelebration 001.jpg
                            Washington State
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                            February 26, 2006
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                            Posted: February 11, 2012, 12:10 pm - IP Logged

                            Well, if you consider yourself "bad with money," why not start doing something about it?  Start by making a budget and keeping track of your expenses by category. At the end of each month look at your monthly totals and see if you are happy with how you did.  You'll most likely get much better with money quite fast that way. In a year, you'll probably conclude that taking a lump sum is better.

                            With a large jackpot  it should be no trick to give yourself a huge chunk (like maybe a million dollars for the current powerball jackpot) for buying a new house, car, travel, toys etc. the first year.  With smaller wins, limit your first year "allowance" to no more than ten percent of your windfall and invest the rest.  Thereafter allow yourself to spend no more than the income you earn on the investments and keep the principal invested.  Simple.  It just takes a little self control.

                            Self control is good.  No better time to start than the present with whatever you now have. 

                            No way would I ever consider "annuity!"  It wouldn't make sense at my age, but I wouldn't have considered it even in my 20s.  I can manage my money much better (and with greater flexibility) than whoever holds the annuity contract.

                              LottoGuyBC's avatar - Lottery-050.jpg
                              British Columbia
                              Canada
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                              September 4, 2011
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                              Posted: February 11, 2012, 12:59 pm - IP Logged

                              Cash Now White Bounce

                              "You have to be in it to win it!"