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is there any scenario where you take annual payments over the Lump sum?

Topic closed. 27 replies. Last post 3 years ago by Mattapan.

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haymaker's avatar - Lottery-012.jpg
Egg Harbor twp.south Jersey shore
United States
Member #112968
June 29, 2011
3854 Posts
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Posted: January 13, 2014, 4:23 pm - IP Logged

Not as long as the current tax law demands full payment from your estate,

there by putting a burden on your beneficiaries.

Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

    IPlayWeekly's avatar - avatarmoney
    Columbus, Ohio
    United States
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    June 5, 2012
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    Posted: January 13, 2014, 4:46 pm - IP Logged

    I'll take the lump sum, will be easier (in my opinion) to manage

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      CST
      United States
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      March 23, 2013
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      Posted: January 20, 2014, 6:12 pm - IP Logged

      A lump sum of any amount wisely invested will outpace the total annuity payments of any jackpot, even after a modest yearly paycheck & taxes.

      Anybody that takes an annuity by choice does not trust themselves, does not trust any financial advisors but trusts the government to never raise taxes.

      Sounds like the same people who live in the world of unicorns & daily rainbows.

        RJOh's avatar - chipmunk
        mid-Ohio
        United States
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        March 24, 2001
        19825 Posts
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        Posted: January 20, 2014, 6:29 pm - IP Logged

        Not as long as the current tax law demands full payment from your estate,

        there by putting a burden on your beneficiaries.

        According to the PB and MM website, you beneficiaries have the option of cashing out your annuity and getting its cash value so it shouldn't be any more of a burden for them to pay the taxes than it to pay their regular taxes.

         * you don't need to buy more tickets, just buy a winning ticket * 
           
                     Evil Looking       

          haymaker's avatar - Lottery-012.jpg
          Egg Harbor twp.south Jersey shore
          United States
          Member #112968
          June 29, 2011
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          Posted: January 20, 2014, 7:28 pm - IP Logged

          According to the PB and MM website, you beneficiaries have the option of cashing out your annuity and getting its cash value so it shouldn't be any more of a burden for them to pay the taxes than it to pay their regular taxes.

          Interesting, would I have to option of cashing them out myself ?

          Do my beneficiaries have any downside to this ?

          Is this anything like selling the structured settlement to J.G. Wentworth or some such ?

          Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

            veganlife125's avatar - Lottery-061.jpg

            United States
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            May 18, 2013
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            Posted: January 20, 2014, 7:43 pm - IP Logged

            Around 80% lose it all by taking the lump sum.  They have no experience with money because they have never saved any.  At least with multi year payments some of them might learn a lesson after losing it for several years and keep the rest.  Choices carry a long time.

            That reminds me of a choice senario when i was a kid.  Two men in a mechanic shop were standing in front of a poster that showed a brand new red convertible corvette with a beautiful buxom blonde in a white bikini provocatively laying across the hood.  The man with a cigarette took a long look and an even longer draw and then ask the other man which of the two he would rather have.  The other man thought about it for a few seconds and then looked over and said:  "You mean for keeps or for one night?" Big GrinNaughty

            Don't forget to visit the Lottery Post Gift Shop!

              MillionsWanted's avatar - 24Qa6LT

              Norway
              Member #9517
              December 10, 2004
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              Posted: January 20, 2014, 8:27 pm - IP Logged

              If I am under 50 y.o. (which I am) I would take annual payments. If I was in my 70s++ I would go for a lump sum.

              That is if I lived in the USA. In Norway they only pay out the total winning sum, which is tax free.


                United States
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                June 2, 2012
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                Posted: February 4, 2014, 11:27 pm - IP Logged

                If I am under 50 y.o. (which I am) I would take annual payments. If I was in my 70s++ I would go for a lump sum.

                That is if I lived in the USA. In Norway they only pay out the total winning sum, which is tax free.

                You'll never win anyway, so who cares?

                  sookie's avatar - nw femalewiz.jpg

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                  May 17, 2013
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                  Posted: February 5, 2014, 12:27 pm - IP Logged

                  Lump sum cash in one payment

                    CDanaT's avatar - tiger avatar_04_hd_pictures_169016.jpg
                    TX
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                    January 4, 2012
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                    Posted: February 5, 2014, 5:21 pm - IP Logged

                    NO ANNUITY----------Cash Only....Don't trust the federal government one bit to keep the tax level at/near 39.6 % over the next 30 years.

                    Stay Positive, Believe and good things will come your way

                      lejardin's avatar - Lottery-014.jpg

                      United States
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                      November 4, 2011
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                      Posted: February 5, 2014, 8:20 pm - IP Logged

                      NO ANNUITY----------Cash Only....Don't trust the federal government one bit to keep the tax level at/near 39.6 % over the next 30 years.

                      Agree 100% CDana, cash only, the government and this admin is untrustworthy, taxes arent the only issue I have a problem with.

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                        United States
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                        December 9, 2013
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                        Posted: February 6, 2014, 7:54 pm - IP Logged

                        Agree 100% CDana, cash only, the government and this admin is untrustworthy, taxes arent the only issue I have a problem with.

                        Ehhh I think which ever you take the money will out live you unless you're trying to do stupid stuff like make it rain and crap like that

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                          boston,ma
                          United States
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                          December 15, 2013
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                          Posted: February 6, 2014, 9:46 pm - IP Logged

                          I don't think the tax rate will stay at 39.6% either, so i would have to take the lump sum. in the past, if I could get an annual payment of over 5 mil, I would've taken that but I think it's safer to take the lump sum now.