If I were Filthy Rich
By DrTriage+78 Lump Sum or 30 Year Payout
Another way to look at this is ask yourself ‘is the first payment enough to buy all my first year toys?’ Sure, expenses expand to fill the budget. Tomorrow’s PowerBall pays out $6.1 million per year, minus taxes is still enough to buy my dream home and a year’s worth of living large. You?
Recent responses
+85 @JGCities Lump sum, invest it properly and you will end up with more money in the long run.
+34 @Aulus_Hirtius It's the lump sum. It's always the lump sum. The only reason to take the annuity is if you prefer to have less money. "But the annuity protects me from blowing it all or getting swindled!" Friend. Listen. I say this with love: It. Does. Not. You will have umpteenty-seven entities, scrupulous and unscrupulous alike, trying to buy that annuity off you for a fraction of its value. And anyway, if your reaction to "but what if I had tens of millions of dollars?" is to say, "Actually, seems like a real pain!" then I implore you just to skip buying the ticket. Get an Almond Joy instead. They're good!
+29 @60sMan never hold fiat , inflation is like a hole in your money bag lump it
+17 @MaloneSeven The Powerball annuity does not pay 6.1 per year (or any “same” sum per year). You get an initial payment when you turn in the ticket followed by 29 annual payments thereafter. Each payment is 5% greater than the previous one. In this case (183MM jackpot) the initial payment would be around 2.75MM.
+17 @Yfrontdude At my age, definitely lump sum. trust funds for the kids’ inheritance, simple investments.