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re: Annuity or Lump? Updated for 1.6 Billion
Posted on 10/20/18 at 10:53 am to ctiger69
Posted on 10/20/18 at 10:53 am to ctiger69
I would take the annuity for the simple fact I don't know how well I would manage that amount of money at once. Taking the annuity would ease me into jumping into the top 1% and allow me to adjust to investing large sums of money. I would be much less likely to piss through the money, and if I did in any given year, I would have a "do-over" next year.
1
Posted on 10/20/18 at 11:06 am to AUsteriskPride
You can always (in some states) call J.G. Wentworth if you change your mind. I'd imagine you'd wish you'd taken the lump sum after you hear their offer though.
Posted on 10/20/18 at 11:11 am to ctiger69
quote:
Even a low interest safe investment will not net you more than what you will make with the annuity which is an extra 500 million.
Wrong, but most people don't have the discipline to do better than the annuity.
Posted on 10/20/18 at 11:26 am to eScott
quote:
You can always (in some states) call J.G. Wentworth if you change your mind. I'd imagine you'd wish you'd taken the lump sum after you hear their offer though
I can't imagine what I would need that would make me change my mind.
Posted on 10/20/18 at 11:26 am to highcotton2
quote:
If you lived in Louisiana and won would it not be better to pack your shite up and move to say Tennessee before you claimed the check? Tennessee has no income tax.
Where was the tix bought? That's whom you pay.
Posted on 10/20/18 at 11:28 am to slackster
Scruffy takes the annuity.
$30 million yearly for 30 years? Each subsequent year results in increased returns from interest?
frick yea.
After 1 year, Scruffy is living off the interest.
The interest alone is probably about ~$1.3 million yearly for that first year.
And then it increases each year.
Unless you are old as hell, not taking annuity is moronic.
$30 million yearly for 30 years? Each subsequent year results in increased returns from interest?
frick yea.
After 1 year, Scruffy is living off the interest.
The interest alone is probably about ~$1.3 million yearly for that first year.
And then it increases each year.
Unless you are old as hell, not taking annuity is moronic.
Posted on 10/20/18 at 11:33 am to Scruffy
Who backs the annuity?
I’m always skeptical one of these lotteries will bankrupt and the state(s) steal the money.
I’m always skeptical one of these lotteries will bankrupt and the state(s) steal the money.
This post was edited on 10/20/18 at 11:35 am
Posted on 10/20/18 at 11:36 am to ctiger69
quote:What the hell is this? It sounds like chinese food.
lum sum.
Anyway, I think I've been converted to the annuity.
Posted on 10/22/18 at 5:08 pm to ell_13
quote:
quote:
$389.5MM earning 2% interest over 30 years would give you $705MM. You're much better off taking the lump sum.
So. Much. Wrong.
quote:
Even if you take out $30MM right at the beginning to "live on" for those 30yrs you'd end up with $651MM.
Even. More. Wrong.
What is wrong about that? Compound interest is pretty simple to calculate. 389,500,000*(1.02^30) = 705,525,337. The math is exactly correct. So please tell me what's wrong?
Posted on 10/22/18 at 5:22 pm to ctiger69
quote:
Because people are stupid.
So if i take the lump sum can I not earn interest on it over the 26 year period of the annuity. If i can earn interest, isn't there a chance I could generate a better return than the annuity and end up with mote than the "extra $500 million?"
Posted on 10/22/18 at 5:23 pm to MLCLyons
I wouldn't really care to be honest. The annuity pays you over $2.5M a month for 30 years, about $90k a day.
I'm not gonna know wtf to do with $90k every single day no matter what. I can buy a new half million dollar house and 100k car for the next 1,560 consecutive weeks and still have $4,000 in cash left over for hookers and blow every single day.
I'm not gonna know wtf to do with $90k every single day no matter what. I can buy a new half million dollar house and 100k car for the next 1,560 consecutive weeks and still have $4,000 in cash left over for hookers and blow every single day.
Posted on 10/22/18 at 5:32 pm to ctiger69
quote:
Annuity would be $528,275,990.00 more money than the lump sum. Unless you are old or morbid obsess/health problems then the annuity is a no brainer. But if you are in your 20’s and 30’s and healthy then take the extra 528 million dollars. Don’t say “No” to an extra 528 million.
You have already won more than you should ever be able to spend. I really don't see the point in taking the annuity. That's as dumb as the financial advisor on the Lafayette news that said the first thing you should do is save for your kids college after you win.
Posted on 10/22/18 at 5:35 pm to BlackAdam
quote:
So if i take the lump sum can I not earn interest on it over the 26 year period of the annuity. If i can earn interest, isn't there a chance I could generate a better return than the annuity and end up with mote than the "extra $500 million?"
Screw trying to chase more money. That's how these fools go broke trying to earn more money. Stick your shite in the safest possible secured investments and let the interest come in.
Posted on 10/23/18 at 7:49 am to diat150
quote:
Screw trying to chase more money. That's how these fools go broke trying to earn more money. Stick your shite in the safest possible secured investments and let the interest come in.
you don't think you can beat 2%
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