Annuity vs. Lump sum lottery winning payments?
Posted by MarkOct 17
I am on the speech team and I got docked points for saying that if you take lump sum, you only receive about half of the actual amount, I need a source to back it up! Can you help me?
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Depends on your age — if you’re 90 take the lump sum, if 18 go for the annuity.
In most cases the lump sum IS roughly 1/2
When I win tonight’s Super Lottery of $70,000,000, I will only get $43,000,000 if I choose the cash value. The values are shown on the website below.
It depends on the terms of each lottery. It is best to check the terms and conditions of the relevant lottery. However, on average, it is true that the winner only receives half of the jackpot.
assume you win 100,000,000.oo lump sum is 55 million…. say you choose annuity…..lottery purchases a hundred million dollar annuity for fifty million dollars and pays you the first installment of 5 million dollars, minus taxes of course…..ERGO….if you are smart you take the lump sum, keep a hundred thousand dollars for toys and walking around money and buy an annuity for fifty-four million nine-hundred-thousand dollars….it’s all the same so demand your points back, plus few extra for interest….
Go to http://www.powerball.com and you’ll see the prize amount in big font, and just below it is a "cash value" amount.