got a question regarding lottery

[Mr. O]

Let's say you won 140 million dollars.  You get 2 option: either get 140 million in 30 payments in 29 years or 15 million in all in one lump.

I'm not sure how this really work, but what would you choose?  I was reading yahoo front page saying 80 year old ww2 vet guy won 140 million dollars.  Because he ain't gonna live that long, i was thinking he might be choosin' all at once.  THe thing is he's gonna lose the rest just to get one sum.  However, he has grandkids that he wants to share his fortune with.

IN your situation, what would you choose and why?

[reguLAtor]

I had a similar thread not too long ago.  I think I'd do the lump sum... you actually stand to lose like 50% of the total winnings by doing so, but I think it's worth it.  Say you win 50 million.  You would either get about (depending on taxes) 25 million all at once OR something like 1.5 million per year for the next 20 years. (If that) 

With the 25 mil..I spend MAYBE 10 mil on shit and taking care of everyone with houses and bills...and 15 mil is collecting interest afterwards.  With the 1.5 per year... I buy myself a house (at least 500k), buy my parents a new home(500k) and take care of debt and shit for my immediate family.  While I'm sitting pretty in a new house, I have minimal spending money and friends and relatives are knocking down my door for their "share".  Granted, I'd probably not tell a soul of my winnings in this case, but I'm just trying to prove a point here.  I'd most likely be drunk and partying ALL the goddamn time anyways, so I'd probably not last 20 years..I'd take it all at once because nothing is promised to you 2,3 or 15 years down the line.

[Chief]

with that amount of money lump sum baby!

i'm guessing they dont include inflation, in 30 years time 10mill will be worth alot less than 10 mill now!

[Mr. O]

Hmm..good point. I may think all lump might be good.  Then again, getting paid a mill per year..that's like you partying everyday as a full time job

[WestCoasta]

if you had 140, lump sum would not be 15, that's ridiculous

it's always about close to half the money after taxes

[Mr. O]

if you had 140, lump sum would not be 15, that's ridiculous

it's always about close to half the money after taxes

I think you right, but i'm just stating a point regarding taking all or year by year thing.

[Sikotic™]

I would take the lump sum. I want control of what I won, not the lottery. I do well with my finances so it's not liek I would blow $200 mil in a few years like many people do.

[QuietTruth]

Did you know they take money out for taxes?? So what you win, ain't really what you win. It's fuckin' bullshit.

[CoreG37]

Always take the lump, you never know what can happen over the course of you getting those payments

[Mr. O]

Did you know they take money out for taxes?? So what you win, ain't really what you win. It's fuckin' bullshit.

Yeah, I know.  However, I wanted to know which option would give you the most money, ya know?>

[WestCoasta]

^  you'd have to take into consideration that money won't have the same worth 20 years from now

plus who wants to win all that money and just get a measly low amount of 6 figures a year?

you win 70 mill or somethin, take the fuckin lump sum and get like 40 million to your name

fuck getting chump change every year til you're a geezer

the 25 payment shit is for suckers, no doubt

[Bedford Iz Active]

Lump me. I could survive every year off that alone i think. If you're older and you're not so confident on living that long, take it all at once.