That's freaking nuts. Glad to see someone like them win it.

Lots of people make lots of money fast and are broke later - not just lottery winners ;)

I think it's pretty cool they all won. I'm not a picky bitch - someone wants to give me even $1mil after taxes and I'm certainly going to have a smile on my face. I wouldn't know what to spend the whole $365mil on anyway :)

I would also take the upfront payment and invest it myself. But some of it I'd probably also bury in the yard :)

fuck i get tickets with a group at work, pray i win some day.

a good justification to retire early

:smokin

"Some large lottery prizes pay out over a period of several years. What if the holder of this type of prize dies before collecting it all?

In this case the prize is considered to be part of the estate and is passed along to the winner's heirs. Contrary to popular belief, the prize does not revert to the government. The only exceptions are "win for life" games where a prize is guaranteed for the rest of the winner's life. In this case the payments stop with the winner's death."

:thumbsup Thread Closed.

take the cash and run! good for them!!!

Thread far from closed. One third of lottery winners end up bankrupt while almost 100% have financial advisors from day one. Broke people are stupid with money it's a fact of fucking life. :2 cents:

Yes, but as I said, most people can't handle "full control" which is, I think, the very root of the discussion. Most people want to have full control of their money. That's not a shock. But can all those people handle it? No.

Money has a way of.... messing with your head. If you aren't smart with your money to begin with, than having $$ signs in your eyes all of a sudden won't help.

For 99% of the middle/lower class people, having someone invest that money and bring them back some every once in a while is just about the smartest thing they can do because they aren't capable of doing it themselves.

good point.

That is a very broad based brush you are painting a lot of people with. Working in a plant is sometimes what you have to do. Specially if you are in your fifties or older. It is not like thirty to thirty five years ago there was a huge choice in where you could work if you lived in certain areas.

Hell my grandfather went to work at a "plant" when he was in his twenties. He stayed with them until he retired at sixty. He went back to work for the same plant on a consulting/training bases literally two weeks after retiring pulling in two hundred an hour because the "plant" realized that they neglected to have anyone ready for his position he had and that nobody knew anything about the machines he was formally in charge of for the last thirty plus years.
Before his consulting work he was already very set retirement wise, more so than the vast majority of Americans I know of today. He went to work at that "plant" when he got out of the navy. He never had a chance at any higher education and there just were not any other good options.

53 clueless money managers. :1orglaugh

Sorry, I disagree. While it might be true that you could do better investing with all of it avaliable all at once, its also true that you could fuck up and lose everything with just a couple of stupid mistakes, which as a working man who just got rich overnight, you are bound to make.

If you take the annuity, at least you'd get a few more chances when your next year's payment came in. And I can bet that after pissing away the first year on something stupid, you'd be alot more careful with the remaining years. :2 cents:

it was me winning the lottery .

Set for life.. damn

You guys might be interested to read this article on AOL News:

1/3 of Lottery Winners Go Bankrupt.

yep, I'd take the lump sum and go to my bank and get a custom interest rate. With that amount of money you can get about 4% even with the market being as horrible as it is right now. 4% of 1million is 40K a year, so with 15 or 20 Million in the bank you wouldn't even need to touch your money, Just live off the interest

All of you fuckers that give a shit that "1/3 of lottery winners who take lump sum go bankrupt" WHAT THE FUCK DO YOU CARE? Sounds to me like you are very jealous you didnt win.

:thumbsup

Calm down. I didn't even buy a ticket for Saturday. I thought that was interesting, and had no idea that many went bankrupt. I knew some people squandered it all, but was surprised it's actually a third of the winners who do.

4% is pretty damn low for any sizable investment, hell I get over 4% now on any amount over a cent deposited now into the savings account with no term limits and no early withdraw fee's.

I however would dump all or most of it into insured individual municipal bonds and use the interest to fund higher risk investments.