Originally Posted by Donny

What some of you are missing when saying they should take the money over 30 years is this:

The reason there is a lump sum option is because that is the actual cash value of the prize. To pay it out over 30 years, the lump sum is the amount that the lottery would invest in order to pay the winner their yearly payments. The lottery either puts that money into the investment vehicle they've chosen to use, or they put it into the winner's hands. Either way, it's the exact same amount of money out of the lottery's pockets.

Personally, I'd rather have full control. And if a person is smart enough to hire an attorney I'd say they're also smart enough to hire a financial advisor. I think most of the meat plant workers will be smart enough to hire an advisor who will educate them on this, yet still allow them plenty of money to blow initially.