Originally posted by: funboy42
I dont understand those that take the cash. When I was down with the lottery I got a kick out of the ones that took a one lump of $4 mil then taking the $25 mil over 20 years. How can you not live on over $1 mil a year for 20 years?? Just the interest alone should be plenty enough to live on. $4 mil will not last long at all. Sure after taxes you walk away with 700K but what you think your going to walk away with after taxes on the 4 million?? Hell I got 120K on my settlement and in less then a year after paying off debt and buying a house its gone, 4 million after taxes and buying stuff, paying off debt, wont be long till its gone, Atleast for $20 years you got the same checks coming in which should be more then enough to live on just the interest alone, when the checks are done your sitting pretty, and so will your family when your dead and gone, and their family when your dead and gone.
Im sorry but give me the $$ over time fvck the short term small chump change quickly, I rather take the larger sum over the longer period. Comes out to more in my pocket in the long run. Just live within your means and dont go nuts
That one time take lesser amount lump sum was put in place IMO for idiots, sure you can invest it but what happens if that fails or the market bottoms out?