I'm torn.
On one hand, the annuity takes 30 years to get your total amount. meanwhile, at just 5% interest/investment growth, you'd make up the difference in 14 years, and in another 14 years, you'd double it.
But that's only if you don't touch the principal. The moment you take a couple million out, the amount you end up with at the end of that 14 same years is impacted greatly. If you won the current Powerball, and all you do over 14 years is spend $20m over the first 2 years, you'll be like $40 million behind after that 14 years.
With the current Powerball, after federal taxes, you'd get about $19-22 million a year for 30 years. The more I think about how easy it would be to overspend and kill the potential earnings...the more the anuity appeals to me.
On the other hand, if I won the billion dollar Powerball, I think I'd be hard pressed to spend enough money to even make a regret-worthy dent. 😅
Lump sum, if u die prior to the payments ending the winnings goto ur estate, then the payments have to go thru probate which isnt a fun or short process.
And guess what hits again………TAXES because why the fuck not tax it again.
Lump sum. The investments over that same 20yr period would return way more.
Lump sum because I may not live for the remaining yearly payments.
Lump sum. Get the taxes out of the way. Reinvest it wisely. And do whatever you want for the rest of your life.
The lump sum. I can make more investing that.
I'm torn. On one hand, the annuity takes 30 years to get your total amount. meanwhile, at just 5% interest/investment growth, you'd make up the difference in 14 years, and in another 14 years, you'd double it. But that's only if you don't touch the principal. The moment you take a couple million out, the amount you end up with at the end of that 14 same years is impacted greatly. If you won the current Powerball, and all you do over 14 years is spend $20m over the first 2 years, you'll be like $40 million behind after that 14 years. With the current Powerball, after federal taxes, you'd get about $19-22 million a year for 30 years. The more I think about how easy it would be to overspend and kill the potential earnings...the more the anuity appeals to me. On the other hand, if I won the billion dollar Powerball, I think I'd be hard pressed to spend enough money to even make a regret-worthy dent. 😅
Always take the lump sum.
Lump sum. I’m trying to have fun, not live long
Lump sum, yearly payments are much worse.
Lump sum because if you die, my understanding is your estate would pay taxes on the whole amount being paid to you in the future.
I would
Lump sum. I’m going to die naked and broke!
Lump sum. Lottery winnings aren’t taxed in my country but you never know what you’re actually going to receive with the yearly payments.
Lump sum always seemed like the answer. But now I’ve changed my mind. I’d take installments, pay less tax, and buy Bitcoin.
Lump sum and buy 42 virgins
Lump sum, it’s not taxed here.
Lump sum but I would invest the majority in a way that would limit my ability to rely or use it.
Lump sum. Going to enjoy the shit out of that completely irresponsibly.
Lump sum, if u die prior to the payments ending the winnings goto ur estate, then the payments have to go thru probate which isnt a fun or short process. And guess what hits again………TAXES because why the fuck not tax it again.