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Message
re: Powerball-cash vs annuity
Posted on 1/11/16 at 5:40 pm to TheHiddenFlask
Posted on 1/11/16 at 5:40 pm to TheHiddenFlask
Taking the annuity doesn't guarantee anything. Your creditors will allow you to rack up debt and then sue you to liquidate your annuity. Most likely at a significant discount. Taking he lump sum and putting it into a trust would be superior.
This.
Google 'Evelyn Adams' of New Jersey who won the Lotto Jackpot twice ( 1985 & 86) for a total of $5.4 million dollars before taxes.
Gambling problem had her in debt & her remaining checks were basically owed to creditors.
Claims she was spending $25 a week on tickets before the 1st win & more afterwards.
Also loved the Atlantic City Casinos.
This.
Google 'Evelyn Adams' of New Jersey who won the Lotto Jackpot twice ( 1985 & 86) for a total of $5.4 million dollars before taxes.
Gambling problem had her in debt & her remaining checks were basically owed to creditors.
Claims she was spending $25 a week on tickets before the 1st win & more afterwards.
Also loved the Atlantic City Casinos.
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