I've been reading all the posts (past and present) about
the Pros and Cons of choosing an annuity. You all must not
have family. Because you're talking like the money would
never be split any further after Uncle Sam and your state
gets their chunk of your change.
What about the million that your siblings will ask for?
What about your parents, assuming their still living? And
let's not forget those with grown children... and the
grandchildren. All these people/relatives will have their
hands out. And once you've shared the wealth, that lump
sum won't be so big anymore. Then it gets split even further.
Charities will be knocking at your door. People trying to
get you to invest in their dreams. With all that money upfront
you're more apt to be a little more careless.
I'm only 31. Give me my 2.3 million a year (after taxes).
If I can't live off that amount a year, I don't deserve to
win the lottery.
With an annuity, I know every such and such date my check
will be arriving. I can still invest half of it and live off
the other 1 plus million a year. Give my family and charities
a set amount and still live comfortably. Once you buy your
house and car(s). There's not many big purchases I would need
to make that would require me to need to have 10's of millions
of dollars sitting in the bank tempting me.
Just my opinion.
Thanks for listening (reading). lol
Adore