If u win lottery which one u would pick?Annuity VS Instant Cash

[festa_freak]

Depends what happens to an annuity when I die. Here in Canada lotto winnings aren't taxed, or at least not as heavily down there.

I'm very good with money so I'd probably want to take lump sum and get it working for me rather than get small chunks. Live off interest and let it grow is what I'd do.

 

[stlc8tr]

You can double your money every 10 years with a 4% return (quarterly compounding).

😕

Are you sure? My math might be off but from my quick & dirty calculations, a 4% return should take ~17 years to double.

 

[jaedaliu]

😕

Are you sure? My math might be off but from my quick & dirty calculations, a 4% return should take ~17 years to double.

law of 72s tells me it should be ~18 years.

 

[GTaudiophile]

USD Cash > Chinese / Swiss / German bank accounts.

 

[stlc8tr]

law of 72s tells me it should be ~18 years.

He did mention quarterly compounding which is how I got ~17 years.

 

[WackyDan]

I'd just take the super model.

 

[JTsyo]

😕

Are you sure? My math might be off but from my quick & dirty calculations, a 4% return should take ~17 years to double.

You're right, I must have mistyped when I punched the numbers in the interest calculator. It would take 7% to double every 10 years.