I understand how they want to advertise you when you win.. So it pushes more people to play. However winning will drastically change someone's life. No matter how big or bad you think you are you will still need a security team. Unless you plan on moving every 2 to 3 months until things cool down.
That's about the only thing then that the British government isn't taken away from the people these days. Your country is a joke, sorry. Glad my ancestors left long ago.
@@_Julie_Bee But why? You would get the full sum taking the periodic payments. Winning and taking a lump sum is reduced drastically and you would be lucky to get even 40% of the winnings. Why not periodic payments? If you’re already making $60,000 a year, any periodic payments that’s higher than your normal salary, will definitely make you comfortable.
@@missyidontgiveacrap9939 the lump sum will snowball into a far bigger amount with interests and placements than the whole sum will. Especially if put into a well managed trust. If you are planning it smart you will not, from the beginning, live the big life. I'd pay myself about 150k a year for a few years. But the strength of the investment power you have with that in bank is magic. It's not something I can explain here. But I'll say one thing; I have close friends with 1% type of fortunes. Like 1% of the 1% lol and once you have money to have money, nothing can stop the snowball, if you are smart.
@@_Julie_Bee Even with periodic payments, you can still make investments, lol! 1.2 million with 5% increase each year, is a big step from $60,000 a year…AND, it can be passed down to an heir if anything happened to me. Thankfully I only have one kid and he’s getting everything I own. Easy peasy.
As I’m over 60, I would probably get legal assistance to set up a trust to receive the annuity so that it would be available for my sisters, nieces, and nephews after my death over the next 30 years.
@Maggie E I change my mind. Just learn how to do it yourself. Maybe you'll pay for some courses to learn how but you can multiply it all on your own. There are things out there to help make everything a lot easier. Financial advisors are also costly over time. If you can do it all by yourself, you make all the profit.
@@dennis3351 yeah, the country could turn more towards socialism and tax everything at a much higher rate. Younger people today are starting to be against capitalism, these young people are the future over the next 20-30 years
The annuity would be the best because since they divide it over 30 years that means I don't have to worry or engage a lawyer or accountant and far as my friends and family know it's a bonus from my job or just some extra money I got from somewhere. The mandatory self control is a huge boost and I can still invest money from the annuity payments into safe bonds. I wouldn't ever want to lose more than half my winnings to taxes.
My mom's cousin won the lotto about 15 years ago. He took a lump sum, took his daughter to Disneyland (instead of buying her the upgraded wheelchair she needed and setting aside money for her medical care) and then blew it on expensive purchases & further gambling. He ended up totally broke and living with his mother again.
Unfortunately some humans really are that ignorant and somewhat selfish. It feels like that disneyland trip wasn’t even for her at that point- i think he just wanted to go…
@@maddiesmenagerie8853 I felt the same way. She was, and still is, very delicate because of her condition. Who would bring a wheelchair reliant teenager to an amusement park, much less Disney! Very selfish.
Hmmm, this is a good question. I would personally go to a financial advisor for lottery winners. Then I would present my concerns and wants. Concerns: 1. Self control, I have some but I’m easily talked into buying stuff. Retail therapy is very real for me. I’m working on it but it’s still a struggle. 2. I’m terrified of people knowing I have money. 3. I have health issues that honestly is expensive in the US. I’m very reliant on my insurance I currently have. I have more but you get the idea. Wants: 1. I want to be able to finally be done (or at least totally manageable)with my health issues so I would focus on that. 2. I want a house. I know it’s probably smart to do other living styles, but I still want one. I want to have my own home and peace. 3. I want to set up my parents so they don’t have to work anymore. 4. A fund for my brother so he can do what he loves without worrying about the future. 5. How to invest in ways that are in my best interests. This is where I would ask if it’s smart to take lump sum or take payments.
Over time, good income stream so I will never have to worry, if people ask me for money I can refuse because I don't have the money, and I can't do stupid stuff I will regret later on. I know what to do, but it sounds like the safer option.
It also depends on if you are allowed to claim anonymously or not and also what kind of people you have in your life. If I weren't allowed to claim anonymously and my name was published, I would take the annuity. If I didn't trust my family, I would take the annuity as well!
hey can you make a video about how to choose a financial advisor specifically for people who are doing decent financially but NOT like goofy diving into a swimming pool of gold coins kinda decent? or just a video about financial advisors in general?
Find a reputable lawyer firm that have both "normal" lawyers and fiscalists , so one represents your best interests and the other your money. They work together to make sure you are safe and your money is too.
Depends on the state but you can setup a beneficary - at least in texas. Also one thing she didn't mention is you have to put either lump sum or annuity for you buy the ticket. By default it's set to cash option unless you tell the clerk you want annuity in texas
If I won I'd take about 40% of the total, 20% to my friends and family, 20% into my chequing/saving accounts. The rest would go into index funds and term deposits. The 20% I held on to half would be mad money and the other half I'd use to purchase real estate.
First one. I only need about 10m to live the rest of my life the way I want. That’s including helping family. I would invest every bit of the rest so I could use that to help the people the government acts like they care about.
Im 50yrs old if i were to be fortunate enough to win id immediately contact a lawyer, a financial wealth manager, and a cpa then id take the annual payment option and id save in some kind of interest account about 30-40% of each year’s payment then id make sure all my children and grandchildren have trust accounts set up and finance managers to help them keep their money working for them
I think I would prefer the installments, all invest and be smart with it, but I'd absolutely need more time to adjust. I would be so overwhelmed by 400 million all at once
The average person, even financially literate ones, would benefit more from payments than from lump some. You can still invest huge chunks of money via those payments.
I would take the money periodically over time and be sure to keep a job. Whichever pays more monthly is going to be for my bills, most of my optional spending, good old fashioned 401k or similar retirement fund, and emergency savings, and the other check I would invest entirely. Maybe I won't get back as many returns, but I think this will still set me up for the long term and also still leave plenty for my family when I gone
Bingo! Someone else who has listened to our FBFF 😅 That said, my initial knee jerk reaction is to take the installments provided that my estate continues to receive the funds. That way I can't blow the whole thing, I can take care of my family even after I'm gone, and I can create charitable entities that support things I care about in perpetuity like small education scholarships, access to Maker spaces, and community programs, and I won't be able to try staunching the seemingly endless needs by shoving money into people - even if I go winner crazy. I'd like to say that I wouldn't, but I also have never had enough money to waste on luxuries like a brand new car and the historical record shows a high likelihood.
I would invest in 4 things: 2 high profitable card laundromats/eight story apartment complex/ 600 acres solar farm. So I can be set to the rest of my life.
taking periodic payments ALSO puts you at risk of a state or other paying entity refusing to pay after a few years. So you may collect the first few payments, then the State decides your lottery payment is not longer in their budget, or worse. Look up Illinois in 2015 and 2021 if you don't know what I'm talking about.
I live in a country where lottery winnings aren’t taxed. Instead lottery operators are taxed on the revenues they collect from ticket sales. Winning it is quite rare and there are sad stories about people who’ve blown through their winnings in a short time and went back to being poor.
Another important thing is that if you do the small payments overtime, and you died before it's all paid out the rest of it doesn't go to your family it goes back into the lottery
Vivian, at 65 with a heart condition, 30 years is not going to work. But… another option could be to sell the annuity to an investment firm for more than the lump.
If I was in America, I would pick the periodic bc I'm less likely to be targeted for financial gain. It would be seen as income vs a large lump sum. However, I live in a country where you have to take the full amount an no taxes are on the principal amount, just get taxed on income/interest generated by the principal.
Wait, she forgot the other major benefit of the second option. The amount that you get from the annuity every year grows every year, so you get more and more each year.
Correct.. first payment would be about 16 and a half million before taxes last payment would be about 68 million before taxes All together before taxes you would get the total amount of 1.1 billion
Only problem with the annuity is there are conditions like a war or national emergency where the government can get out of paying you. I would never take that risk
I would take the lump sum. Put a years worth of income divided into multiple CDs. The ones that are 3 months to a year. 6 months of income into a savings account. 3 months in banking account. Divide the rest up in investments and retirement.
If you take payments over time, those payments stop once you pass away. Your family does not inherit the remaining payments. Take the lump sum and set up winnings in a trust to be handled as you see fit, which could last for several generations.
I would definitely take the lump sum because even if you only made 3% interest on that you would still be making a million dollars a month which is still 100 times more than I've ever been paid in my life.
Well, BBF; I've thought long and hard about this very question. I've also looked at previous winners who blow through ridiculous amounts of money because they were not psychologically prepared. IMO, I would favor the annuity method. In the long run, your odds are better if you are not familiar with large sums of money.
The problem with the annuity is if you die before the 30 years no one can inherit the remaining winnings. Always take the lump sum even if you pay the taxes upfront. Once paid taxes on that money it is not taxable again. Only new earnings from investments would be taxable. So yeah take the lump sum. There is no real advantage to an annuity.
how much are the annual payments if you go the annuity route? it seems like they'd be perfectly high enough to invest along the way and still get the full amount out of the government
I'd take the 30 year plan, and just max out buying iBonds over that time frame. That way I have a guaranteed ROI over the long haul while also having 30 years worth of income.
50 million in Index funds, 30 million in Gold, 30 million in Silver, 50 million in rental properties and 30 million in BTC =$190 million invested and set for life. Keep expenses under 5 million a year or $420,000 a month and you can never go broke and still have a few hundred million left over. 🤦♂️
30 year payout on 1b is right at 700,000 a week every week for 30 years. I think I would prefer that over lump sum. Higher taxation, and the loss of half screw that.
I'm wondering, would another advantage of the annuity be that if you start investing with the first payment, by the time you get the last payment, you'd be comparably much more wealthy than if you took the pay-out and invested?
I'd take the lump sum. I already have a short list of things I would take care of right off the bat. 1. House for me and eventually significant other. 2. Reliable vehicle, nothing fancy because luxury cars depreciate horribly. 3. Help 3 very close family members
Under 45 year's old, take the annual payments. If older than 45 take the lump sum; pay off debt but before you buy anything, take your azz to a lawyer and set up a family trust. Once established, place 2/3's of your winnings in said trust and pay yourself an an annual salary. The other third is for stupid purchases and family/friend gift giving. That 2/3's is no longer in your name, it's the property of the trust that you will manage but live off of as an employee, so property like real estate, cars etc. are owned by the trust.
I would take the lump sum. Only because, the payout over time isn't transferable. So if something happens to me my children can't inherit the payments.
I'd take the long term payments. I get more overall and can treat it as just passive income for 30 years. The lump sum would be tempting. I could make the argument that is be able to buy some rental properties or something like that. But, I'd be more prone to making some initial mistakes that would cost far more.
1.- A lump sum is better if you KNOW how to invest, 2.- and very important if you choose the 30 years option....what happens if you die after ....let's say......8 years.
“You aren’t going to” don’t speak that over me, girl!!
I rebuke the devil lol
Right 😂😂😂😂😂 im like girl bye
ASE😂
Rebuke in Jesus name. 😌
Exactly right! Be gone with that negativity!
First thing, DO NOT GO PUBLIC if you win. There are Psychopaths out there that will target your family members.
Unfortunately you don’t get to pick that option in many places
Because your a walking BANK
😭😭😭😭🤧🤧🤧🤧🤧🤧
I understand how they want to advertise you when you win.. So it pushes more people to play. However winning will drastically change someone's life. No matter how big or bad you think you are you will still need a security team.
Unless you plan on moving every 2 to 3 months until things cool down.
There’s only one option for jackpot Euro millions or Lotto in the Uk. Lump sum. And it’s completely tax free.
@Vee London 🤯 PLEASE Let's Form a Business & START Buying Lottery Tickets Over There!!!! 😳
Canadian too!
Australia also. Sure we don't hit the highs of draws like the USA and other countries, but it's all tax free baby!!!
That's about the only thing then that the British government isn't taken away from the people these days. Your country is a joke, sorry. Glad my ancestors left long ago.
NZ as well.
Excuse you ma’am we
Will win. Speak life over us please and thank you
Life ? Winning the lottery is hell!
What
Okay??
Very confused by this statement
Libras am I right?
I'll take periodic payment as it is like a salary
Or you get the lump sum, put the money in a trust and have payments given to you yearly while your wealth grows
@@_Julie_Bee thanks for the advice never thought of it like that
@@_Julie_Bee
But why? You would get the full sum taking the periodic payments. Winning and taking a lump sum is reduced drastically and you would be lucky to get even 40% of the winnings. Why not periodic payments? If you’re already making $60,000 a year, any periodic payments that’s higher than your normal salary, will definitely make you comfortable.
@@missyidontgiveacrap9939 the lump sum will snowball into a far bigger amount with interests and placements than the whole sum will. Especially if put into a well managed trust. If you are planning it smart you will not, from the beginning, live the big life. I'd pay myself about 150k a year for a few years. But the strength of the investment power you have with that in bank is magic. It's not something I can explain here. But I'll say one thing; I have close friends with 1% type of fortunes. Like 1% of the 1% lol and once you have money to have money, nothing can stop the snowball, if you are smart.
@@_Julie_Bee
Even with periodic payments, you can still make investments, lol! 1.2 million with 5% increase each year, is a big step from $60,000 a year…AND, it can be passed down to an heir if anything happened to me. Thankfully I only have one kid and he’s getting everything I own. Easy peasy.
As I’m over 60, I would probably get legal assistance to set up a trust to receive the annuity so that it would be available for my sisters, nieces, and nephews after my death over the next 30 years.
There isnt going to be a 30 years when there's a financial collapse and the dollar ends. How many trillions in debt can we go before then?
Biiiiiiiiish!!! Don’t say I won’t win the lottery! I very well could 😂😂😂
😂😂😂😂
I like how she just straight up say "You aren't going to!" like dammm why you gotta do me like that
Is she wrong?
@@nicquechan yes..someone's got to win..why not me?
I honestly thought it was quite rude actually.. if you have a ticket, you have a chance, regardless of odds.
@@garystinten9339 right, i think she should have said "given the odds, you might not, BUT if you DO..." then the vid proceeds as normal
I would take the lump sum and go straight to a financial advisor.
Talk to the financial advisor first. Get your ducks in a row.
To multiple financial advisors so they check each other. You can't let them take you for a fool.
@@margaritanavarrete1246 good point!
@Maggie E I change my mind. Just learn how to do it yourself. Maybe you'll pay for some courses to learn how but you can multiply it all on your own. There are things out there to help make everything a lot easier. Financial advisors are also costly over time. If you can do it all by yourself, you make all the profit.
Financial advisors are full of it too
It would be really hard to spend a few hundred million in a lifetime. What if the lottery closes down and you didn’t get your entire payout?
You would still be richer than you could have ever imagined
That's a good point
You are one who gets it. I wouldn't bank on the 30 year payout the way things are headed now.
@@dennis3351 yeah, the country could turn more towards socialism and tax everything at a much higher rate. Younger people today are starting to be against capitalism, these young people are the future over the next 20-30 years
It won’t close.
Will see Jesus return before the lottery closes 🤷🏻♀️
The annuity would be the best because since they divide it over 30 years that means I don't have to worry or engage a lawyer or accountant and far as my friends and family know it's a bonus from my job or just some extra money I got from somewhere.
The mandatory self control is a huge boost and I can still invest money from the annuity payments into safe bonds.
I wouldn't ever want to lose more than half my winnings to taxes.
Smart move! I think I would choose this option as well.
Taking the annuity and moving to Delaware would be a good move.. this way you get to keep more of your money year to year.
All of us watching just in case we "accidentally win"
It depends on your age. If your say 30 or younger it may be better to take installments.
It sorta depends on your life situation. Your age, health, parental status, etc as to what is best for you.
My mom's cousin won the lotto about 15 years ago. He took a lump sum, took his daughter to Disneyland (instead of buying her the upgraded wheelchair she needed and setting aside money for her medical care) and then blew it on expensive purchases & further gambling. He ended up totally broke and living with his mother again.
he didn't even get her the wheelchair??
Unfortunately some humans really are that ignorant and somewhat selfish. It feels like that disneyland trip wasn’t even for her at that point- i think he just wanted to go…
@@munchyy_ she had one, but needed a better, more upgraded, motorized one to improve her access.
@@maddiesmenagerie8853 I felt the same way. She was, and still is, very delicate because of her condition. Who would bring a wheelchair reliant teenager to an amusement park, much less Disney! Very selfish.
Donkey of the day😂
I have very little self imposed impulse control… I would take the installments just for my own sanity/financial future.
I caught those 1st few words you spoke,you dont know who's gonna win or not .you could have lotto millionaires or billionaires watching right now.
What happens if you take the annuity and suddenly pass. What happens to the remaining money in the unpaid winnings?
Hmmm, this is a good question. I would personally go to a financial advisor for lottery winners. Then I would present my concerns and wants.
Concerns:
1. Self control, I have some but I’m easily talked into buying stuff. Retail therapy is very real for me. I’m working on it but it’s still a struggle.
2. I’m terrified of people knowing I have money.
3. I have health issues that honestly is expensive in the US. I’m very reliant on my insurance I currently have.
I have more but you get the idea.
Wants:
1. I want to be able to finally be done (or at least totally manageable)with my health issues so I would focus on that.
2. I want a house. I know it’s probably smart to do other living styles, but I still want one. I want to have my own home and peace.
3. I want to set up my parents so they don’t have to work anymore.
4. A fund for my brother so he can do what he loves without worrying about the future.
5. How to invest in ways that are in my best interests.
This is where I would ask if it’s smart to take lump sum or take payments.
Over time, good income stream so I will never have to worry, if people ask me for money I can refuse because I don't have the money, and I can't do stupid stuff I will regret later on. I know what to do, but it sounds like the safer option.
So Vivian (my new BFF), when I win, can I hire you? Lol!!! Might as well since you are teaching me all this good stuff!!!
I know I WILL win because I already have! Thank you!
It also depends on if you are allowed to claim anonymously or not and also what kind of people you have in your life. If I weren't allowed to claim anonymously and my name was published, I would take the annuity. If I didn't trust my family, I would take the annuity as well!
hey can you make a video about how to choose a financial advisor specifically for people who are doing decent financially but NOT like goofy diving into a swimming pool of gold coins kinda decent? or just a video about financial advisors in general?
Find a reputable lawyer firm that have both "normal" lawyers and fiscalists , so one represents your best interests and the other your money. They work together to make sure you are safe and your money is too.
@@_Julie_Bee thank you so much!
When I win, I’m going with option two! At least I know I’ll have income coming in for the next 30years 🎉
If the annuity is transferred after death id take that so my kids can get it
Agreed. But sadly it’s not transferable after death.
That is why you make it payable to a trust
@@ireadalota ah gotcha! Thanks
@@ireadalota with a bridging trust to buffer against "storms"
Depends on the state but you can setup a beneficary - at least in texas. Also one thing she didn't mention is you have to put either lump sum or annuity for you buy the ticket. By default it's set to cash option unless you tell the clerk you want annuity in texas
I would do the annuity payment. I would take the winnings as a trust. That way the trust would be able to get ALL the payments.
Smart that's really good and also you spend wisely and more likely to not make financial mistakes like over spending
The problem with this thinking is.... Most people who could do this wont waste their money on lottery and invest instead 😂
If I won I'd take about 40% of the total, 20% to my friends and family, 20% into my chequing/saving accounts. The rest would go into index funds and term deposits. The 20% I held on to half would be mad money and the other half I'd use to purchase real estate.
After Illinois refused to pay the lottery winners I would definitely take the lump sum.
Why did they refuse?
@@errollpalmer9568 In 2015 the Illinois legislators couldn’t agree on a budget so didn’t pay any lottery winnings over $600.
Dam girly you never know what if I do win🤣🤣🤣👎🏽
Payments, then put it in a high return savings and live like normal for the first couple years. Then bam, smooth sailing
Smart that's how you do it
Can you explain this? Not quite understanding this..
First one. I only need about 10m to live the rest of my life the way I want. That’s including helping family. I would invest every bit of the rest so I could use that to help the people the government acts like they care about.
Good idea to preemptively give advice to lottery winners. Maybe one day they'll send you a little thank you check for it lmao.
Im 50yrs old if i were to be fortunate enough to win id immediately contact a lawyer, a financial wealth manager, and a cpa then id take the annual payment option and id save in some kind of interest account about 30-40% of each year’s payment then id make sure all my children and grandchildren have trust accounts set up and finance managers to help them keep their money working for them
I will take the whole some there is no taxes on lottery in Canada
I’m over 60 years old. Definitely lump sum with a lot of professional advice from multiple sources.
Yea your going to be broke
Rude AF. I’m going to win 🤗
Thanks for sharing with all future winners. Sound advice!
I think I would prefer the installments, all invest and be smart with it, but I'd absolutely need more time to adjust. I would be so overwhelmed by 400 million all at once
The average person, even financially literate ones, would benefit more from payments than from lump some. You can still invest huge chunks of money via those payments.
I would take the money periodically over time and be sure to keep a job. Whichever pays more monthly is going to be for my bills, most of my optional spending, good old fashioned 401k or similar retirement fund, and emergency savings, and the other check I would invest entirely. Maybe I won't get back as many returns, but I think this will still set me up for the long term and also still leave plenty for my family when I gone
Would I know what to do? Yes. Consult a lawyer and financial planner before claiming the prize.
Bingo! Someone else who has listened to our FBFF 😅
That said, my initial knee jerk reaction is to take the installments provided that my estate continues to receive the funds. That way I can't blow the whole thing, I can take care of my family even after I'm gone, and I can create charitable entities that support things I care about in perpetuity like small education scholarships, access to Maker spaces, and community programs, and I won't be able to try staunching the seemingly endless needs by shoving money into people - even if I go winner crazy.
I'd like to say that I wouldn't, but I also have never had enough money to waste on luxuries like a brand new car and the historical record shows a high likelihood.
I would invest in 4 things: 2 high profitable card laundromats/eight story apartment complex/ 600 acres solar farm. So I can be set to the rest of my life.
😂😂😂😂😂😂😂😂😂😂
taking periodic payments ALSO puts you at risk of a state or other paying entity refusing to pay after a few years. So you may collect the first few payments, then the State decides your lottery payment is not longer in their budget, or worse. Look up Illinois in 2015 and 2021 if you don't know what I'm talking about.
I live in a country where lottery winnings aren’t taxed. Instead lottery operators are taxed on the revenues they collect from ticket sales. Winning it is quite rare and there are sad stories about people who’ve blown through their winnings in a short time and went back to being poor.
Now it's a $1.5 Billion jackpot. Who's not buying tickets for that?
Second payment to last payment will be a 5% increase of the previous year. For inflation.
“You aren’t going to win the lottery” but I already did.
Live in the UK, if you won the lottery here it's Tax-free you pay tax on the interest that it accumulated.
Another important thing is that if you do the small payments overtime, and you died before it's all paid out the rest of it doesn't go to your family it goes back into the lottery
Vivian, at 65 with a heart condition, 30 years is not going to work. But… another option could be to sell the annuity to an investment firm for more than the lump.
Great advice Thank you!
From reviewing your other videos, I would get a Lotto Attorney first. 💯
You take the ticket to your states treasury claims department, then choose the cash option or annuity.
If I was in America, I would pick the periodic bc I'm less likely to be targeted for financial gain. It would be seen as income vs a large lump sum.
However, I live in a country where you have to take the full amount an no taxes are on the principal amount, just get taxed on income/interest generated by the principal.
Wait, she forgot the other major benefit of the second option. The amount that you get from the annuity every year grows every year, so you get more and more each year.
Correct.. first payment would be about 16 and a half million before taxes last payment would be about 68 million before taxes All together before taxes you would get the total amount of 1.1 billion
If you put yourself on a budget you can invest most of your yearly winnings and by the end of 30 years you can easily have a billion dollars or more.
What if the winner die? Here in Italy the jackpot is linked to the winner only. Nobody can cash it. So if the winner die, the yearly amount will stop.
Only problem with the annuity is there are conditions like a war or national emergency where the government can get out of paying you. I would never take that risk
I would take the lump sum. Put a years worth of income divided into multiple CDs. The ones that are 3 months to a year. 6 months of income into a savings account. 3 months in banking account. Divide the rest up in investments and retirement.
I would take the payments. 💵
If you take payments over time, those payments stop once you pass away. Your family does not inherit the remaining payments. Take the lump sum and set up winnings in a trust to be handled as you see fit, which could last for several generations.
In Australia there’s no tax on the lotto
I would definitely take the lump sum because even if you only made 3% interest on that you would still be making a million dollars a month which is still 100 times more than I've ever been paid in my life.
I would definitely take the annuity.
About 16.5 million first payment.. last payment would be about 68 million before taxes.
I would still invest.
Payments definitely! The curse of the lottery is no joke!
Buy a boat and hire some trusted seals and pay them handsomely for their loyalty
🤝. Thank you. VG
Well, BBF; I've thought long and hard about this very question. I've also looked at previous winners who blow through ridiculous amounts of money because they were not psychologically prepared.
IMO, I would favor the annuity method. In the long run, your odds are better if you are not familiar with large sums of money.
The problem with the annuity is if you die before the 30 years no one can inherit the remaining winnings.
Always take the lump sum even if you pay the taxes upfront. Once paid taxes on that money it is not taxable again.
Only new earnings from investments would be taxable.
So yeah take the lump sum. There is no real advantage to an annuity.
how much are the annual payments if you go the annuity route? it seems like they'd be perfectly high enough to invest along the way and still get the full amount out of the government
You are so funny "you aren't going to", had me rotf 🤣
I'd take the 30 year plan, and just max out buying iBonds over that time frame. That way I have a guaranteed ROI over the long haul while also having 30 years worth of income.
50 million in Index funds, 30 million in Gold, 30 million in Silver, 50 million in rental properties and 30 million in BTC =$190 million invested and set for life. Keep expenses under 5 million a year or $420,000 a month and you can never go broke and still have a few hundred million left over. 🤦♂️
“You aren’t going to” well somebody is winning.. weekly
30 year payout on 1b is right at 700,000 a week every week for 30 years. I think I would prefer that over lump sum. Higher taxation, and the loss of half screw that.
Everyone: buys yachts and go on expensive vacations
Me: buys house and sleeps on a bed of cash lol
I'm wondering, would another advantage of the annuity be that if you start investing with the first payment, by the time you get the last payment, you'd be comparably much more wealthy than if you took the pay-out and invested?
it depends on the amount.. but I think I'll take the periodic payments because I don't have to worry about money anymore.
I'm taking the payments over time
Lump sum, then invest invest invest
Imagine winning the lottery and keeping the same mindset of spending everything because I don’t know if I’ll still have this money
Nice advice
An annuity for me.
We all make mistakes.
In the annuity the total amount received would be 1.1 bil or 408 mil?
I will win the lottery tonight. I'll follow your guides
I'd take the lump sum.
I already have a short list of things I would take care of right off the bat.
1. House for me and eventually significant other.
2. Reliable vehicle, nothing fancy because luxury cars depreciate horribly.
3. Help 3 very close family members
I’d take annuity, cause I’d be making astronomically more than what I make from my job. And it’s financial security.
If you take annuity you should be able to leave any that you dont use in your will.
Under 45 year's old, take the annual payments. If older than 45 take the lump sum; pay off debt but before you buy anything, take your azz to a lawyer and set up a family trust. Once established, place 2/3's of your winnings in said trust and pay yourself an an annual salary. The other third is for stupid purchases and family/friend gift giving. That 2/3's is no longer in your name, it's the property of the trust that you will manage but live off of as an employee, so property like real estate, cars etc. are owned by the trust.
Thank u for the advice
New sub 🎉 Nancy b the scratcher
I would take the lump sum. Only because, the payout over time isn't transferable. So if something happens to me my children can't inherit the payments.
I saw one dude take option three. Partial lump sum, then an annuity for the rest.
Take the lump sum & invest to recoup taxes. More control over it.
Maybe people should put money into investments instead of lotteries and they’d have less reason to stress about their financials
lump sum and place it in a high interest amount and live off the interest.
I will pick a Lump Sum is because you can control my money.
European lotteries are post-tax when you get them paid out, so you get what you win.
I'd take the long term payments.
I get more overall and can treat it as just passive income for 30 years.
The lump sum would be tempting. I could make the argument that is be able to buy some rental properties or something like that.
But, I'd be more prone to making some initial mistakes that would cost far more.
I have no self control!
I've always been curious- if you take the annuity then sell the note to JG Wentworth, would that lump beat the lump option?
1.- A lump sum is better if you KNOW how to invest, 2.- and very important if you choose the 30 years option....what happens if you die after ....let's say......8 years.