If you won big - would you take the cash option or annuity?Prev Topic Next Topic

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Cash vs Annuity?

Cash

[ 27 ]

[ 93.1% ]

Annuity

[ 2 ]

[ 6.9% ]

Total valid votes

[ 29 ]

Discarded votes

[ 1 ]

rcbbuckeye

100

Texas
United States
Member #55,887
October 23, 2007
17,763 Posts
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Apr 26, 2021, 4:39 pm

Quote: Originally posted by noise-gate on Apr 26, 2021
Right, what " beats me" is trollers who are constantly following me around with a hard on grading my every post. You know who you are, good advice: you ought to get a life, get a girlfriend or a boyfriend, or both. Swing in either direction, perhaps that will satisfy your perverted needs.

I have to agree with that noise-gate. It's rather childish.

CAN'T WIN IF YOU'RE NOT IN

A DOLLAR AND A DREAM (OR $2)
GoogilyMoogily

United States
Member #35,334
March 16, 2006
238 Posts
Offline

Apr 26, 2021, 6:36 pm

Cash without any doubts.

Lawyer up to protect your new found wealth from every frivolous lawsuit or frivolous "friend" or "family member" that suddenly realizes you exist.

Lawyer up to protect you from yourself with rules about never dipping into principal for example.

Don't go for lotto lawyers, obviously.

Two well established estate law firms with a double blind trust is what I understand is your best bet.
KY Floyd

NY
United States
Member #23,834
October 16, 2005
4,772 Posts
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Apr 26, 2021, 11:11 pm

"so they can't access the lump sum"

You can always access the lump sum unless you invest it all in something nobody else wants to buy. The only questions are how easy it will be and how much you'll lose by turning it into cash.

Especially with the very low interest rates funding the annuity right now I can't see any financial benefit to taking the annuity a nd being locked into those low rates. If you take the cash now and rates go up in the future you can invest at those higher rates. Right now the only reason I can see for not taking cash is to avoid the hassle of dealing with the investing. There's something to be said for the idea of using the annuity payment schedule as a budgeting tool, but if you have the discipline and self control to not sell the annuity to get a bunch of cash then you should also be able to keep the cash invested and mostly live on the interest.

"what " beats me" is trollers who are constantly following me around with a hard on grading my every post."

That's the only option available to people who aren't smart enough to offer a counterpoint to whatever it was you said.
Unlucky-Kenny

WISCONSIN
United States
Member #202,055
November 7, 2019
2,086 Posts
Offline

Apr 27, 2021, 12:02 am

Quote: Originally posted by KY Floyd on Apr 26, 2021
"so they can't access the lump sum"

You can always access the lump sum unless you invest it all in something nobody else wants to buy. The only questions are how easy it will be and how much you'll lose by turning it into cash.

Especially with the very low interest rates funding the annuity right now I can't see any financial benefit to taking the annuity a nd being locked into those low rates. If you take the cash now and rates go up in the future you can invest at those higher rates. Right now the only reason I can see for not taking cash is to avoid the hassle of dealing with the investing. There's something to be said for the idea of using the annuity payment schedule as a budgeting tool, but if you have the discipline and self control to not sell the annuity to get a bunch of cash then you should also be able to keep the cash invested and mostly live on the interest.

"what " beats me" is trollers who are constantly following me around with a hard on grading my every post."

That's the only option available to people who aren't smart enough to offer a counterpoint to whatever it was you said.

Very similar to the points I made but their minds were set - I ain't getting paid to change them so I let it go

haha

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wander73

EveryMailBox Type in Search.

Philadelphia, PA
United States
Member #153,767
March 24, 2014
8,503 Posts
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Apr 27, 2021, 9:57 am

Take the cash.

Annuity. what will the interest rate be? Here is something else, let's say you have a relative or family that dies, someone calls you and your lost sister or something. It happened to my uncle. Right after my dad died, she wasn't related, claimed she had same last name as my gma. I was shocked but was like no way.

My gpa never had anyone else but my gma, they didn't engage, they went right to marriage, 4 boys, 49 yrs marriage.

I questioned my mom, I asked her did she do anyone before my dad, she said nope. I was like ok ty.

If I were to hit, I have a lawyer, financial advisor, I know plenty of accountants, there would be some girl calling me up and telling me to adopt their kid or something. I would have some girl get in touch and say that I banged her back in the day, ( I am 47). then she would say I did get her pregnant with a kid and child support. Trust me I have heard horror stories not good.

I would marry an asian chick or maybe russian chick , some of the American girls are ridiculous. Heck maybe a sugar daddy put a ring on young girls finger who knows.

People now a days will try anything to get something huge. The saying from hogans heroes. I know nothing.

Sad part in my family I don't know who to trust and not sure about the financial stuff.

If you take the cash, hit the right stocks at right time, that would be awesome.

ISO of content generation for anything.

blogs , reselling, and more.
CDanaT

Central TN
United States
Member #121,187
January 4, 2012
7,769 Posts
Offline

Apr 27, 2021, 10:25 am

Quote: Originally posted by Stat$talker on Apr 25, 2021
Whadda you worried about?... Today's Life expectancy is around 87-92 yrs young..!!

But then again,... Today's Generational kids would probably bump you off for it...

Remember the Mendes brothers?...

Kenny.....Gotta stay with the cash...I would be too old to enjoy those last 7-10 big checks, want to give family/close friends their cut now and I don't even want to know what the Fed taxes will be in 10-20-25 yrs from now.

Stat$talker-----Actually the life expectancy in the USA was recently put out through the combo of the CDC,Census Bureau and Dept of Health and the summary goes like this:

Asian: 86.3 yrs.......Hispanic 79.9 yrs....Native Am 78.4 yrs...Caucasion 78 yrs...Afr Am *72yrs

*there was some discrepancy on the 72 yr mark between the one or two of the three bureaus that had it at 76. I do not recall what that particular aspect was at this time.

Men in the USA is mixed between 76.1 to 78

Women in the USA is pretty consistent at 81 and change

* Stats may change due to Covid 19

I also went onto this site and found these stats(names/states/amounts and choice of Annuity/cash) for all of the PB winners since 2003.

https://www.powerball.net/winners

* Vinh Nguyen from CA - Annuity September 2014 was the last.

The SEEP Financial Group from CO October 2007 was the next previous Annuity that was taken.

For those of us that remember there was the 100 Miracles from WI that took a mixed in August 2006 and just a few months before that in April 2006 there was the Missouri Lucky 13 that also took a mixed.

Take a look at some of those Annuities to Cash values at less than 50% in 2005

Sure looks like Cash is the big winner and I couldn't agree more.

Si vis pacem, para bellum.
noise-gate

* In hot pursuit of $ *

White Shores- California
United States
Member #136,471
December 12, 2012
7,039 Posts
Offline

Apr 27, 2021, 9:41 pm

Quote: Originally posted by KY Floyd on Apr 26, 2021
"so they can't access the lump sum"

You can always access the lump sum unless you invest it all in something nobody else wants to buy. The only questions are how easy it will be and how much you'll lose by turning it into cash.

Especially with the very low interest rates funding the annuity right now I can't see any financial benefit to taking the annuity a nd being locked into those low rates. If you take the cash now and rates go up in the future you can invest at those higher rates. Right now the only reason I can see for not taking cash is to avoid the hassle of dealing with the investing. There's something to be said for the idea of using the annuity payment schedule as a budgeting tool, but if you have the discipline and self control to not sell the annuity to get a bunch of cash then you should also be able to keep the cash invested and mostly live on the interest.

"what " beats me" is trollers who are constantly following me around with a hard on grading my every post."

That's the only option available to people who aren't smart enough to offer a counterpoint to whatever it was you said.

..The only option! As the saying goes "Empty vessels make the most noise."

* Voice of Reason *

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

Dump Water Florida
United States
Member #380
June 5, 2002
3,576 Posts
Offline

Apr 28, 2021, 1:52 am

Quote: Originally posted by noise-gate on Apr 26, 2021
Right, what " beats me" is trollers who are constantly following me around with a hard on grading my every post. You know who you are, good advice: you ought to get a life, get a girlfriend or a boyfriend, or both. Swing in either direction, perhaps that will satisfy your perverted needs.

You ought to see what follows me around on LP. Think'n one of the cats may have a worm I search for parasites, now ads for parasite cures follow me like the plague, ugh!! Be careful what you search for.

As to what to wish for, twenty years ago I'd have taken the annuity, these days the cash.

BobP
Karen Nathan

Miami Florida
United States
Member #191,036
July 13, 2018
545 Posts
Offline

Apr 28, 2021, 10:20 am

Quote: Originally posted by wander73 on Apr 27, 2021
Take the cash.

Annuity. what will the interest rate be? Here is something else, let's say you have a relative or family that dies, someone calls you and your lost sister or something. It happened to my uncle. Right after my dad died, she wasn't related, claimed she had same last name as my gma. I was shocked but was like no way.

My gpa never had anyone else but my gma, they didn't engage, they went right to marriage, 4 boys, 49 yrs marriage.

I questioned my mom, I asked her did she do anyone before my dad, she said nope. I was like ok ty.

If I were to hit, I have a lawyer, financial advisor, I know plenty of accountants, there would be some girl calling me up and telling me to adopt their kid or something. I would have some girl get in touch and say that I banged her back in the day, ( I am 47). then she would say I did get her pregnant with a kid and child support. Trust me I have heard horror stories not good.

I would marry an asian chick or maybe russian chick , some of the American girls are ridiculous. Heck maybe a sugar daddy put a ring on young girls finger who knows.

People now a days will try anything to get something huge. The saying from hogans heroes. I know nothing.

Sad part in my family I don't know who to trust and not sure about the financial stuff.

If you take the cash, hit the right stocks at right time, that would be awesome.

Reminds me of when some Multimillionaire died with no children and some random Woman claimed she was his neice and had Rights to a cut of his money... He was also an ONLY Child! She was denied a cut of his money.... LMAO! :D

"What's your ADDRESS?" May be the CREEPIEST question EVER asked to a Lottery Winner! O.O WTF?

At first, I found the one digit away draws kind of amusing, but now I am PISSED! 15 or 16 times I was off by just one digit in recent times!🤬 No longer find this amusing, it's making me REALLY angry now!🤬
noise-gate

* In hot pursuit of $ *

White Shores- California
United States
Member #136,471
December 12, 2012
7,039 Posts
Offline

Apr 28, 2021, 11:20 am

Quote: Originally posted by BobP on Apr 28, 2021
You ought to see what follows me around on LP. Think'n one of the cats may have a worm I search for parasites, now ads for parasite cures follow me like the plague, ugh!! Be careful what you search for.

As to what to wish for, twenty years ago I'd have taken the annuity, these days the cash.

BobP

Bob- l have no problem with people disagreeing with me, nor am l under the illusion that everyone has to like me, but come on! This is a discussion forum, so let's discuss, if you have nothing to add, then stand on the sidelines and observe. This behavior is similar to saying " why don't you shut up or stick your opinion .. you know where. l guess the saying is true " not everyone wants to grow up."

Peace.

* Voice of Reason *

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

100

Texas
United States
Member #55,887
October 23, 2007
17,763 Posts
Offline

Apr 28, 2021, 12:37 pm

Quote: Originally posted by noise-gate on Apr 28, 2021
Bob- l have no problem with people disagreeing with me, nor am l under the illusion that everyone has to like me, but come on! This is a discussion forum, so let's discuss, if you have nothing to add, then stand on the sidelines and observe. This behavior is similar to saying " why don't you shut up or stick your opinion .. you know where. l guess the saying is true " not everyone wants to grow up."

Peace.

Noise,

I think Bob was saying he was looking for info on parasites and now where ever he goes on the internet he's getting ads following him around for remedies for parasites.

I get the same thing. I look up a product on the internet and then ads pop up chasing me like a dog.

I don't think he was knocking you.

Someone has downgraded some of my comments. Personally, I don't give a flying F...if someone gets his kicks doing that, he's the one with a problem.

They're trying to get under your skin, and by complaining it's showing that it's working.

CAN'T WIN IF YOU'RE NOT IN

A DOLLAR AND A DREAM (OR $2)
noise-gate

* In hot pursuit of $ *

White Shores- California
United States
Member #136,471
December 12, 2012
7,039 Posts
Offline

Apr 28, 2021, 2:34 pm

Quote: Originally posted by rcbbuckeye on Apr 28, 2021
Noise,

I think Bob was saying he was looking for info on parasites and now where ever he goes on the internet he's getting ads following him around for remedies for parasites.

I get the same thing. I look up a product on the internet and then ads pop up chasing me like a dog.

I don't think he was knocking you.

Someone has downgraded some of my comments. Personally, I don't give a flying F...if someone gets his kicks doing that, he's the one with a problem.

They're trying to get under your skin, and by complaining it's showing that it's working.

Rcb, l got Bob's point, but tilted the issue at hand back to mpv.Nevertheless, I will adapt- time for plan B.

* Voice of Reason *

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

Zeta Reticuli Star System
United States
Member #30,469
January 17, 2006
11,788 Posts
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Apr 28, 2021, 7:02 pm

Very popular topic

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Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners.

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.
s5thomps

Hard Luck, Ak
United States
Member #23,471
October 13, 2005
422 Posts
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Apr 29, 2021, 1:49 am

Quote: Originally posted by Coin Toss on Apr 28, 2021
Very popular topic

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I think a lot has to do with the amount of the Jackpot and the age at which someone is if they are lucky enough to win. If it was a huge Jackpot 100 million or more and I was in my early twenties I would go with the annuity. Even after 30 a year annuity one would be in their early fifties with plenty of life yet to live and should be set for life as long as one spends and invests wisely.

"We make a living by what you get, You make a LIFE by what you give!"

Sir Winston Churchill
Karen Nathan

Miami Florida
United States
Member #191,036
July 13, 2018
545 Posts
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Apr 29, 2021, 4:06 am

Quote: Originally posted by s5thomps on Apr 29, 2021
I think a lot has to do with the amount of the Jackpot and the age at which someone is if they are lucky enough to win. If it was a huge Jackpot 100 million or more and I was in my early twenties I would go with the annuity. Even after 30 a year annuity one would be in their early fifties with plenty of life yet to live and should be set for life as long as one spends and invests wisely.

I remember hearing it should be the opposite.... A man who is say 21 when he wins would want to take the lump sum and live up his life and have big fun with his Winnings, i.e, traveling to exotic places, buying expensive food, flashy clothing and Jewelry, fancy cars, gambling, fancy houses, Alcohol, etc, and say a man who is 51 would want the Annuity since he most likely has Children and even Grandchildren and a Wife and would want to provide for them and would most likely be over the "Fun," things a 21 year old would want to do...

"What's your ADDRESS?" May be the CREEPIEST question EVER asked to a Lottery Winner! O.O WTF?

At first, I found the one digit away draws kind of amusing, but now I am PISSED! 15 or 16 times I was off by just one digit in recent times!🤬 No longer find this amusing, it's making me REALLY angry now!🤬