todays question....if you hit the lottery,would you take one lump...

[platinumrock]

Lump sum, for sure! There are no guarantees in life, I would take what I can get. Who''s to say I''ll be around in 20 years?

 

[perry]

Depends on the size of the winnings, the payout schedule, the tax implications, etc, etc.


I would study the question with a very very good financial and tax advisor (the kind that cost hundreds of dollars an hour - and are used to working with "accredited" investors: I actually know who I''d go to). I might also consider moving prior to claiming the prize. Washington State and I believe Florida have no personall income taxes.

While the instant reaction is to take the lump sum, I would look at what would likely bring the highest long term disposable income per year over the payout schedule.

Perry

 

[aljdewey]

Lump sum all the way.

 

[Kaleigh]

I would take the lump sum as I might not live long enough to collect the whole thing!!!!!

 

[EdSkinner]

definately lump sum. I want to enjoy it while Iam alive.

 

[Madam Bijoux]

I vote for the lump sum. Who knows if the state will remain solvent and be able to pay out the annuity?

 

[cutes814]

I say lump sum. You never know what might happen tomorrow.

I would love to use the money to pay off our mortgage, and my parents'' mortgage. Buy some nice bling for myself and family.

Invest most of it and take a long vacation.

 

[FireGoddess]

I play lump sum. I actually won two weeks ago !!! ...took the entire $10, played $5 of it...for a net profit of $3. (I played $2 the first time...)!