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Annuity vs Cash Value

Topic closed. 57 replies. Last post 3 months ago by TheMeatman2005.

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If you won a jackpot, which would you take?

Lump sum cash (1 payment) [ 64 ]  [77.11%]
Annuity (30 payment) [ 12 ]  [14.46%]
Undecided at the moment [ 7 ]  [8.43%]
Never going to win so what difference does it make [ 0 ]  [0.00%]
Total Valid Votes [ 83 ]  
Discarded Votes [ 1 ]  
TheMeatman2005's avatar - lightening
Brooklyn, NY
United States
Member #169723
October 29, 2015
877 Posts
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Posted: July 14, 2016, 9:49 pm - IP Logged

Whit the low interest rates available today, the cash value is approximately 71% of the annuity jackpot amount.

Which would you take if you won a jackpot?

I just noticed my typo...I must have been out of whit when I typed with.

The Meatman

“The quickest way to double your money is to fold it in half and put it in your back pocket.” Will Rogers

Winning happens in a flash, Like A Bolt Of Lightning!  Patriot

    Kingofearth's avatar - Kinnak
    Upstate NY
    United States
    Member #174656
    May 5, 2016
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    Posted: July 14, 2016, 10:49 pm - IP Logged

    But but but I thought you were a committed leftist?  Eek  I thought you wanted a much higher tax rate for the rich to pay for the poor? No Pity!   So why would you leave?  Roll Eyes  LOL!  I hear Venezuela is nice this time of year.  LOL

    I fear no tax rate, but dictators are another story. Trump isn't a dictator, but his uncaring attitude about balance of powers and authoritarian framework are scary precedents that could lead to a dictator rising in the next 20 years. American democracy is very fragile, it's not hard to see it break. I have 5 main countries that I would move to (Canada, Britian, Israel, Australia, or New Zealand). 

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      Happy California
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      August 2, 2014
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      Posted: July 15, 2016, 5:54 pm - IP Logged

      I fear no tax rate, but dictators are another story. Trump isn't a dictator, but his uncaring attitude about balance of powers and authoritarian framework are scary precedents that could lead to a dictator rising in the next 20 years. American democracy is very fragile, it's not hard to see it break. I have 5 main countries that I would move to (Canada, Britian, Israel, Australia, or New Zealand). 

       British Columbia, Canada is nice year round.  I also agree that taxes will go up here in the U.S.

       I've been rich and I've been poor. Believe me, rich is better. 

       Attributed to Joe E. Lewis and others

        Kingofearth's avatar - Kinnak
        Upstate NY
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        Posted: July 15, 2016, 6:54 pm - IP Logged

         British Columbia, Canada is nice year round.  I also agree that taxes will go up here in the U.S.

        If i win, i really want to move to Portland Oregon. Hipster city with a large population of liberals and leftists and in a safe blue state but not too big so i can enjoy the small town advantages. Never too hot or cold. Portland is my dream city.

          weshar75's avatar - Lottery-042.jpg
          Mcminnville, Oregon
          United States
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          December 13, 2003
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          Posted: July 15, 2016, 7:24 pm - IP Logged

          I will take the cash and run.-weshar75

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            June 23, 2010
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            Posted: July 16, 2016, 3:22 pm - IP Logged

            I rather take the lump sum as my vote because I need to live in another city if I win a jackpot.

            I hope that one $2 ticket is the only one that matches all 5 numbers plus the Powerball to win the largest Powerball Jackpot in United States history of over $2 Billion Dollars!

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              United States
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              May 13, 2013
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              Posted: July 16, 2016, 4:17 pm - IP Logged

              I don't care what the person's age or circumstance is, opting for a 30 year backweighted annuity considering America's taxation history and a global financial system which becomes more interconnected and more turbulent by the week, is insanity. 

              Anyone winning the CV tonight will end up with a minimum of $100 million. If someone actually thinks that they'd rather have the annuity so in case they make a bad investment they don't lose the $100 million all at once, isn't someone with the financial maturity to handle a jackpot of any size or payment structure. 

              Choosing an annuity simply to force yourself to budget makes no sense whatsoever. An annuity doesn't enforce financial discipline, but the false belief that it does is probably the reason so of those who choose the annuity still go bankrupt.

                LiveInGreenBay's avatar - driver
                Green Bay
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                Posted: July 16, 2016, 4:33 pm - IP Logged

                If i win, i really want to move to Portland Oregon. Hipster city with a large population of liberals and leftists and in a safe blue state but not too big so i can enjoy the small town advantages. Never too hot or cold. Portland is my dream city.

                Don't forget to hug a tree while you're there.  Love

                Never give up.  Banana

                  realtorjim's avatar - images q=tbn:ANd9GcT7U3t20NgScoPlxOqLT6TR0vQeJNBV3_tTswe1XeFDTsdw3NLZ

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                  Posted: July 16, 2016, 6:19 pm - IP Logged

                  I don't care what the person's age or circumstance is, opting for a 30 year backweighted annuity considering America's taxation history and a global financial system which becomes more interconnected and more turbulent by the week, is insanity. 

                  Anyone winning the CV tonight will end up with a minimum of $100 million. If someone actually thinks that they'd rather have the annuity so in case they make a bad investment they don't lose the $100 million all at once, isn't someone with the financial maturity to handle a jackpot of any size or payment structure. 

                  Choosing an annuity simply to force yourself to budget makes no sense whatsoever. An annuity doesn't enforce financial discipline, but the false belief that it does is probably the reason so of those who choose the annuity still go bankrupt.

                  I Agree!

                  Also, the bond rates are at ridiculously low levels raising the cash value!

                    I'm feeling a jackpot win coming my way!

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                    NY
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                    Posted: July 16, 2016, 9:11 pm - IP Logged

                    I Agree!

                    Also, the bond rates are at ridiculously low levels raising the cash value!

                    Does that means that if bond rates go even lower the $10 bill in my wallet will turn into a $20?

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                      LA Ca.
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                      Posted: July 17, 2016, 1:25 am - IP Logged

                      If i win, i really want to move to Portland Oregon. Hipster city with a large population of liberals and leftists and in a safe blue state but not too big so i can enjoy the small town advantages. Never too hot or cold. Portland is my dream city.

                      Taxation hell.......

                        Kingofearth's avatar - Kinnak
                        Upstate NY
                        United States
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                        May 5, 2016
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                        Posted: July 17, 2016, 1:36 am - IP Logged

                        Don't forget to hug a tree while you're there.  Love

                        Nah, I'll plant a lot of them though. Also now is a good time to buy property in Madison before it becomes beach front property next to the expanded Great Lakes. 

                          Kingofearth's avatar - Kinnak
                          Upstate NY
                          United States
                          Member #174656
                          May 5, 2016
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                          Posted: July 17, 2016, 1:42 am - IP Logged

                          Taxation hell.......

                          Your point being? There's a reason no one lives in no tax places like Wyoming and South Dakota. 

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                            December 9, 2013
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                            Posted: July 17, 2016, 10:18 am - IP Logged

                            Lol mine is Miami. I love to buy a nice house near or even on the beach big enough for family to come visit and just be able to travel when I feel like it 

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                              ohio
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                              September 14, 2002
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                              Posted: July 17, 2016, 10:33 am - IP Logged

                              i think pymts.  i'm bad at saving,know nothing about investing. as long as  i had enough to pay off all my bills, and live comfortably.