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Are you for a Cash Jackpot payout regardless of the amount?

Topic closed. 50 replies. Last post 2 years ago by Teddi.

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Let's Go Rangers!!!
bel air maryland
United States
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Posted: May 18, 2015, 10:40 pm - IP Logged

Image result for stack of money How about this round up?

That could be $1 bills and I would take that pile.  Green laugh

"You can observe a lot just by watching." Yogi Berra, Hall of Fame baseball player.

The numbers will tell you what numbers to play. Pay attention to the numbers.

Don't just think outside the box, crush it.

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    Germany
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    March 8, 2015
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    Posted: May 18, 2015, 10:54 pm - IP Logged

    It's Only King if you smart enough to enjoy its benefits instead of blowing through it within 5 -10 years. 

    That's why one wins twice - one jackpot to p*ss away and one to be responsible with.Approve

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      south el monte
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      Posted: May 18, 2015, 11:07 pm - IP Logged

      no i always tell myself ill take the annual payment . im bad with money so having a yearly check would be so much better for me. if i mess up one year ill have 20 plus  more payments to look forward to.

        Coin Toss's avatar - shape barbed.jpg
        Zeta Reticuli Star System
        United States
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        Posted: May 18, 2015, 11:25 pm - IP Logged

        This is from 24/7 Wall St. I don't agree with it but here goes:

        ]Automatically decide to take the up-front cash. Supposedly some 70% of lottery winners end up broke again, many within a couple or few years. If you get $172 million up front, it may sound better than having to receive a payout of $300 million slowly over the course of a lifetime. After all, it is instant empire-making money. Go see a reputable and visible tax professional and a reputable investment advisor at a top money management firm with a widely recognized company name. This theme of "reputable and visible" will echo throughout.  Do this before you automatically make the decision about a lump-sum or annuity option.

        Since this has been mentioned here on LP in the News, later on in the article is this:

        Give away the whole enchilada. This is probably not the case for the vast majority of lottery players, but some people might want to give away just about all of their money to a charity or to their religious institution. You can be generous without doing the unthinkable. Imagine what you will feel like down the road when a serious crisis arises in your life or your family's life, knowing that you no longer had the means to change it. Should you be charitable? Absolutely! Should you give it all away? Absolutely not!

        Read more: Twelve Things Not to Do If You Win the Lottery - 24/7 Wall St. http://247wallst.com/special-report/2013/08/02/twelve-things-not-to-do-if-you-win-the-lottery/#ixzz3aYFRZy8x
        Follow us: @247wallst on Twitter | 247wallst on Facebook

        Read more: Twelve Things Not to Do If You Win the Lottery - 24/7 Wall St. http://247wallst.com/special-report/2013/08/02/twelve-things-not-to-do-if-you-win-the-lottery/#ixzz3aYEmBrE5

        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.

          RJOh's avatar - chipmunk
          mid-Ohio
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          March 24, 2001
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          Posted: May 18, 2015, 11:25 pm - IP Logged

          It doesn't matter as long as the prize is based on a cash amount.  The winner taking the cash or allowing the state to invest it in an annuity to be paid out over the next 20-30 years doesn't change that amount.

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

            LottoLucy's avatar - hereslucy header.jpg

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            Posted: May 18, 2015, 11:38 pm - IP Logged

            For instance would you settle for the cash payout on a starting MM jackpot or take the Annuity. .Just because?

             

            * Have a Great Week People: as always,  Stay Healthy. 

            I used to be on the cash only bandwagon.  But, as we get closer to retirement, my strategy has changed somewhat.  Now I would take a big win...say $10 million and over before taxes cash value...as a lump sum and smaller amounts as an annuity.  It is all about how much of a revenue stream we can generate.  We are good with our money so I am not worried about blowing it.  I just want a enough money coming in every year that we can bid a not so fond farewell to the work a day world ASAP.

            Lotto Lucy

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              Kentucky
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              February 14, 2006
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              Posted: May 19, 2015, 12:22 am - IP Logged

              The difference to me is being taxed once or 30 times and considering that a player who took an annuity from the PA Lottery last year, will be paying an extra 0.7% more in state taxes next year. Nobody in their right mind expects taxes to go down any time soon.

                mrbg's avatar - NofVcy
                Nashville,TN
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                Posted: May 19, 2015, 12:23 am - IP Logged

                just like those commercials 

                "It's my money and I need it now"

                Lol. Cash money baby

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                  Bay Area - California
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                  Posted: May 19, 2015, 12:56 am - IP Logged

                  just like those commercials 

                  "It's my money and I need it now"

                  Lol. Cash money baby

                  Right- like expecting these guys to take Annuity payments for their fights..

                  Image result for mayweather with his money

                  People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

                    Teddi's avatar - Lottery-008.jpg

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                    Posted: May 19, 2015, 1:03 am - IP Logged

                    no i always tell myself ill take the annual payment . im bad with money so having a yearly check would be so much better for me. if i mess up one year ill have 20 plus  more payments to look forward to.

                    I take it you haven't heard about all the lottery winners who took the annuity and still went broke. Doesn't matter which payment method you take, if you can't budget you'll go broke regardless.

                    If that's your only reason for choosing the annuity, it would make more sense to take the cash and form a trust to only release $X to you per month.

                      Teddi's avatar - Lottery-008.jpg

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                      Posted: May 19, 2015, 1:10 am - IP Logged

                      For instance would you settle for the cash payout on a starting MM jackpot or take the Annuity. .Just because?

                       

                      * Have a Great Week People: as always,  Stay Healthy. 

                      The only way I'd ever even consider taking a 30 year annuity is if I won both the PB and MM. I'd take the cash for one, annuity for the other. And even then I might take the cash on both.

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                        Zeta Reticuli Star System
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                        Posted: May 19, 2015, 2:32 am - IP Logged

                        How about those who take an annuity then decide they want the money and settle for pennies on the dollar with one of those 'cash now' companies?

                        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.

                          maximumfun's avatar - Lottery-030.jpg
                          Lavender Rocket

                          United States
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                          Posted: May 19, 2015, 2:46 am - IP Logged

                          For instance would you settle for the cash payout on a starting MM jackpot or take the Annuity. .Just because?

                           

                          * Have a Great Week People: as always,  Stay Healthy. 

                          I'm old enough to know the value of a dollar in my hand vs. the promise of more dollars tomorrow.

                          Cash is my choice, budgets are my weapon.

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                            South Carolina
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                            Posted: May 19, 2015, 7:43 am - IP Logged

                            Cheers Cash

                            I Agree!

                            Every champion was once a contender who refused to give up.-Rocky Balboa

                            “Don’t let someone who gave up on their dreams talk you out of going after yours.” – Zig Ziglar

                              zephbe's avatar - animal butterfly.jpg
                              South Carolina
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                              Posted: May 19, 2015, 7:54 am - IP Logged

                              Vinh Nguyen, who won 228.4 mil in PB last Sept in California, took the annuity. He was only 26 y/o, if I remember correctly.

                               

                              For me it wd have to be cash. 

                              If I was 30 years younger I would take the annuity also. But since I'm well past that age I would take the cash.

                              Every champion was once a contender who refused to give up.-Rocky Balboa

                              “Don’t let someone who gave up on their dreams talk you out of going after yours.” – Zig Ziglar