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

Unlucky-Kenny's avatar - Cigar B1.gif

I was curious to see what people would pick - I would have thought most would pick the cash option - control your investments, etc.

However, I talked with a few people I know this last week and was surprised how many would prefer the annuity to have structured payments so they can't access the lump sum vs a trust.

What do you think?

Stat$talker's avatar - animated sphere.gif
In response to Unlucky-Kenny

That's REAL EASY... 

HARD COLD CASH...!!

Ranett's avatar - NBie0qv

Depends on the amount won. I'm more apt to take the cash prize, especially the smaller prizes. 1 million spread out  over 30 years or all at once, I'll take the cash on that one. Whereas 100 million over 30 years or  let's say 70 million at once, I might have to think about that one (more likely cash  anyways).Disapprove

LiveInGreenBay's avatar - driver

I chose the cash option.  As they say, a bird in the hand is worth two in the bush.  The government can't keep printing trillions and trillions of dollars without consequences.  If things come crashing down, the first thing that will go are lottery payments.  IMO

rcbbuckeye's avatar - Lottery-062.jpg

Cash.

At my age my life will run out before the money. My kids can have/fight over the rest.

Unless you are VERY trusting, there could be a time with the way the world/economy is going that the annuity would not be completely paid. What could/would a person do to get the rest? Pay a lawyer to help you.....hmmmmm. 

Give me the cash.

An annuity might be a good idea for someone in their 20's or 30's to avoid the possibility of blowing all the money at once. 

I'll be 67 next month. Give me the cash.

Stat$talker's avatar - animated sphere.gif
In response to rcbbuckeye

Whadda you worried about?... Today's Life expectancy is around 87-92 yrs young..!! Wink

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

Remember the Mendes brothers?...LOL

sully16's avatar - sharan
In response to rcbbuckeye

Cash is King! I Agree!

MADDOG10's avatar - smoke

Cash without a doubt. You can make more on your own investing than what the

Lottery pays out in dividends. If you have the right team working for you, you'll be

able to double or better over what the Lottery pays for using your money.

Unlucky-Kenny's avatar - Cigar B1.gif

Cash is King I agree -

I hope to be the king of cash but all I seem to be the king of is....

Jester

weshar75's avatar - Lottery-042.jpg

When I won on my $8 winnings I decided on cash option at the store no annuity for me this time and got my $8 in winnings right up front so I will be doing that same for my big jackpot if it ever comes my way.-weshar75

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Does this look like an annuity to you? This is my final answer, Kenny.

season 5 money GIF

Unlucky-Kenny's avatar - Cigar B1.gif
In response to weshar75

LOL

Green laugh

Unlucky-Kenny's avatar - Cigar B1.gif
In response to noise-gate

Looks like it beats tempurpedic memory foam to me!

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In response to Unlucky-Kenny

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. Approve Swing in either direction, perhaps that will satisfy your perverted needs.

rcbbuckeye's avatar - Lottery-062.jpg
In response to Stat$talker

I can tell you from my wife's experience that you can be totally healthy one day, and the next day you're fighting for your life. 

We are not promised tomorrow.

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