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Annuity or Lump Sum?

Topic closed. 74 replies. Last post 4 years ago by redhot7.

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Which one? Please pick!

Annuity [ 15 ]  [23.44%]
Lump Sum [ 49 ]  [76.56%]
Total Valid Votes [ 64 ]  
Discarded Votes [ 4 ]  
ttech10's avatar - blobdude
Texas
United States
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June 5, 2010
887 Posts
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Posted: April 22, 2013, 10:49 pm - IP Logged

Lump sum. I used to think about getting the annuity, but since then I've figured that I'd most likely want to just get the money and not have to be connected to the lottery for X amount of years.

 

It would be nice though if I could choose after I've won, instead of having to choose at the time of purchase. Who knows, I might end up with a different choice depending on the amount that is ultimately won. Also since I plan on splitting with some family, it would allow me to collect via lump sum and them to collect via lump sum (as opposed to forcing both parties to collect via the same methods).


    United States
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    June 2, 2012
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    Posted: April 22, 2013, 11:04 pm - IP Logged

    Lump sum.

    When they  want us to purchase tickets, they don't allow us to make installments, they want that dough right then and there handed to the clerk before the buyer gets their hands on the tickets.

    This question was posed many times on LP. My theme in all of this focuses more on "when you win", then worry about it.

    Read my signature, not opinion, but fact. It is nice to dream though. I do it with the P-3 twice a day! Green laugh

      BuyLow's avatar - palm tree.jpg
      Florida
      United States
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      May 22, 2008
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      Posted: April 23, 2013, 6:08 am - IP Logged

        helpmewin's avatar - dandy
        u$a
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        February 22, 2011
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        Posted: April 23, 2013, 9:00 am - IP Logged

        Lump sum.

        When they  want us to purchase tickets, they don't allow us to make installments, they want that dough right then and there handed to the clerk before the buyer gets their hands on the tickets.

        This question was posed many times on LP. My theme in all of this focuses more on "when you win", then worry about it.

        Read my signature, not opinion, but fact. It is nice to dream though. I do it with the P-3 twice a day! Green laugh

        where did you get your information? let me guess off the internet LOL

        Patriot

          BreakingBad94's avatar - tumblr m7404b0Zj51qieieio1_250.jpg
          Alpharetta, GA
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          Posted: April 24, 2013, 12:18 pm - IP Logged

          Lump Sum, like Steve Miller said, "Take the Money and Run."

          "You are a wealthy man now. One must learn to be rich. To be poor, anyone can manage. " -- Gus Fring from Breaking Bad


            United States
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            February 13, 2011
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            Posted: April 24, 2013, 2:53 pm - IP Logged

            Annuity if its mega millions, lump sum if its powerball


              United States
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              Posted: April 24, 2013, 2:57 pm - IP Logged

              Annuity if its mega millions, lump sum if its powerball

              Annuity is 4 dumb dumb.

                hearsetrax's avatar - 0118

                United States
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                Posted: April 24, 2013, 3:45 pm - IP Logged

                Annuity is 4 dumb dumb.

                Roll Eyes and remember folks you heard it right from the ___________

                  helpmewin's avatar - dandy
                  u$a
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                  Posted: May 11, 2013, 8:02 pm - IP Logged

                  Roll Eyes and remember folks you heard it right from the ___________

                  I Agree!Red Devil

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                    helpmewin's avatar - dandy
                    u$a
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                    Posted: May 11, 2013, 8:04 pm - IP Logged

                    Annuity if its mega millions, lump sum if its powerball

                    I Agree!      lump sum if its powerball

                    Patriot

                      helpmewin's avatar - dandy
                      u$a
                      United States
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                      Posted: May 11, 2013, 8:04 pm - IP Logged

                      I Agree!

                      Patriot

                        rdgrnr's avatar - walt
                        Way back up in them dadgum hills, son!
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                        Posted: May 11, 2013, 11:39 pm - IP Logged

                        The government doesn't have a very good track record at handling other people's money.

                        I'll take the cash.

                        Like now.


                                                                     
                                             
                                                                 

                         

                         

                         

                         

                                                                                                                           

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

                                                                                                                    --Edmund Burke

                         

                         

                          mikeintexas's avatar - tx avatar-1.gif
                          Texas Panhandle
                          United States
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                          December 20, 2012
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                          Posted: May 12, 2013, 12:26 am - IP Logged

                          The government doesn't have a very good track record at handling other people's money.

                          I'll take the cash.

                          Like now.

                          Amen to that, Ridge.

                          I did some quick figuring:  if you had won this same JP a year ago, your lump sum check would have been 114.27 million after Fed. taxes.  This year it would/will be $106.1832 million, a difference of 8.08 million.  I suppose taxes *might* go down in the future, but I sure wouldn't bet on it.

                          I'm gettin' on up there in age - no children -  and while an annuity would make for comfortable twilight years of my life,  I'd still prefer the lump sum.  A relatively safe investment wouldn't garner the same yearly income as would the annual payments, but it's still the uncertainty of the future that would make me opt for the lump sum.    If I were younger and had kids (and a little more optimistic about the future), I might feel differently.


                          It is dangerous to be right when the government is wrong.
                            - Voltaire


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                            Posted: May 12, 2013, 1:18 am - IP Logged

                            I not sure what the taxes on annuity payments would be or if the taxes are taken from the lump sum and then the annuity payments come from that but personally I would take the lump sum pay the tax and find a top notch wealth manager to invest the money and just draw payments from the interest earned.

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                              Delaware
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                              Posted: May 12, 2013, 2:57 am - IP Logged

                              Depends on which game I won. If I won the powerball lump sum no doubt but if I won the Mega Millions it be a little bit harder to choose but i'd most likely still take the lump sum.