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If you won the powerball would you do a lump sum or annual payments?
Just kind of curious what people would do if they won the powerball. Nice to dream huh? :) Since the powerball is a 500 million prize - would you opt for a lump sum or annual payments?
For myself - At the amount that it is - I would choose payments. If it was smaller (anything under 100m) I would do a lump sum.
4 Answers
- SlickterpLv 78 years agoFavorite Answer
lump sum. You then invest the money and make way ore per year on yoru investments than you would taking the annual payments.
- Anonymous8 years ago
I would take the lump sum because taxes are probably going up in the future. Also, for instance, if you wanted to move to NYC like I would, you'd face high state/local income taxes on your earnings every year if you were to take the annuity option.
- 8 years ago
I don't like the way the payment system is set up. Pay you in smaller payments and the last years are the largest payments. I would take the cash I might die tomorrow.
