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The Ultimate Cash vs. Annuity Poll

Topic closed. 63 replies. Last post 13 years ago by CASH Only.

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If you won a lottery jackpot, would you take the cash or annuity option?

Always cash [ 41 ]  [65.08%]
Always annuity [ 5 ]  [7.94%]
Lean towards cash in most circumstances [ 9 ]  [14.29%]
Lean towards annuity in most circumstances [ 4 ]  [6.35%]
Split right down the middle [ 1 ]  [1.59%]
I don't really care either way [ 0 ]  [0.00%]
I don't think that far ahead [ 3 ]  [4.76%]
Total Valid Votes [ 63 ]  
Discarded Votes [ 5 ]  

United States
Member #379
June 5, 2002
11296 Posts
Offline
Posted: March 29, 2003, 11:26 am - IP Logged

Why some people still want annuity payments, I don't know. Maybe they believe lottery players shouldn't have choices.

    JAP69's avatar - alas
    South Carolina
    United States
    Member #6
    November 4, 2001
    8790 Posts
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    Posted: March 29, 2003, 12:53 pm - IP Logged

    If a jackpot was 100 mil and the cash option was 50 mil and the winner chose annuity .
    would the states pay the full 50 mil for the annuity policy or a lesser amount based on the bids by the annuity companys.
    I thought I read some where that states put the annuities out for bid.
    In that case the states would pocket the change if the purchase price was less than 50 mil for the 100 mil policy

    MAGA


      United States
      Member #379
      June 5, 2002
      11296 Posts
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      Posted: March 29, 2003, 1:09 pm - IP Logged

      John: The companies selling the annuities want to make money off of players' winnings. AFAIK no state profits directly from a player receiving annuity payments (vs a lump sum).

        Lottowiz34's avatar - spider
        Miami,FL
        United States
        Member #760
        October 7, 2002
        267 Posts
        Offline
        Posted: March 30, 2003, 11:28 am - IP Logged

        ANNUITY is the WAY too GO if you are not good with managing your money,if you are then take CASH


          United States
          Member #379
          June 5, 2002
          11296 Posts
          Offline
          Posted: March 31, 2003, 3:10 pm - IP Logged

          If you feel you might not be able to handle millions of dollars, you should choose LUMP SUM anyway, and seek expert financial/tax/legal advice.


            United States
            Member #379
            June 5, 2002
            11296 Posts
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            Posted: April 3, 2003, 12:01 pm - IP Logged

            Blimey: Did you vote on this yet?


              United States
              Member #1047
              January 17, 2003
              348 Posts
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              Posted: April 3, 2003, 1:58 pm - IP Logged

              I haven't voted yet.  I think I should.

              Don't blow all your winnings in one place - Choose Annuity


                United States
                Member #379
                June 5, 2002
                11296 Posts
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                Posted: April 3, 2003, 2:47 pm - IP Logged

                AIG: Take a good look at the poll results.

                  Shakey Dee's avatar - cat anm.gif

                  Bahamas
                  Member #958
                  December 27, 2002
                  8242 Posts
                  Offline
                  Posted: April 4, 2003, 5:51 am - IP Logged

                       


                    United States
                    Member #379
                    June 5, 2002
                    11296 Posts
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                    Posted: April 4, 2003, 6:39 am - IP Logged
                    Dee:

                    Glad to see you're #4755.

                    I take it you prefer LUMP SUM.

                      hypersoniq's avatar - 8ball
                      Pennsylvania
                      United States
                      Member #1340
                      April 6, 2003
                      2450 Posts
                      Offline
                      Posted: April 6, 2003, 10:17 am - IP Logged

                      Depends on the jackpot...

                      anything less than 10 million, cash definitely...

                      As far as Annuity, I'd take that for the powerball greater than 20 million...

                      1. They buy Treasury Notes, any money left over after buying the annuity notes is given to the winner in the first payment.

                      2. Willable, I have 3 kids

                      3. I have no intention of investing with mega corps, the likes of which sent my good job out of the country to make a profit.

                      4. After bills are paid, the rest is just gravy ;-)

                      5. Annuity on 20 million after taxes (30 yrs) is $402,667.00 If I budget myself... LOL

                       

                      besides, I doubt I'll ever have that problem :-(...


                        United States
                        Member #379
                        June 5, 2002
                        11296 Posts
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                        Posted: April 6, 2003, 11:10 am - IP Logged
                        Hypersonig:

                        You have to worry about the possibility of your kids paying INHERITANCE TAXES if you die before you receive all the annuity payments. If you ever win, and seek financial, etc advice, they'll almost certainly tell you choose LUMP SUM, regardless of your prize. You also don't know what the future tax rates will be, etc.


                          United States
                          Member #379
                          June 5, 2002
                          11296 Posts
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                          Posted: April 11, 2003, 9:12 am - IP Logged

                          Because many lottery players have strong opinions one way or the other about this issue, there is now a SECOND poll for you to "voice your choice".

                            Lottowiz34's avatar - spider
                            Miami,FL
                            United States
                            Member #760
                            October 7, 2002
                            267 Posts
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                            Posted: April 11, 2003, 3:20 pm - IP Logged

                            Cash is "COOL" and Annutiy is "AWESOME" but I prefer too be AWESOME!!!!


                              United States
                              Member #379
                              June 5, 2002
                              11296 Posts
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                              Posted: April 16, 2003, 4:10 pm - IP Logged
                              How about:

                              "Cold Cash" vs Annuity=Frozen