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Originally Posted by kj1980
So that's how the lottery system works in America...interesting.
So if I take it correctly, you can either choose:
A. One cash option which is roughly half the actual winnings
or
B. The whole cash winnings over the course of twenty-six years.
One question...is this before or after the government screws you with taxes? If so, I'd actually take the "A" option and invest it wisely because I don't want the government usurping my winnings every year I receive the winnings. Besides, if you invest it wisely (i.e.: mutual funds, government bonds, CDs, money-market accounts, IRAs), you might actually end up with larger money than taking the "B" option...
But then again, I hear that most Americans suck at keeping a stable savings account.
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Usually, they're both after taxes. Really, you pay the same amount in tax either way, but you get some interest with the annuity payments which offsets a lot of the tax. At least I think that's how it works...
Personally, I'd take option a, put 10 million aside for me to blow, and invest the rest, living off the interest from it for the rest of my life. let's see, import a skyline r-34 gt-r, buy evo, wrx sti, rx-7( sa, fc, fd), rx-8, porsche 911, first gen corvette, might as well get a bmw m5 too, build garage to hold them, buy house... That should work
Of course I don't even play the lottery, so there's no chance I could actually win, which is about the same chance if I did play...