Star Trek Lottery winnings

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Report this Jun. 23 2010, 9:45 pm

A lottery is at $90 million when you win. Would you take $3 million a year for 30 years or a one time payment (after taxes) of about $31 million? I can see benefits in both. $3 million a year is plenty and I can never spend it all because I'm getting another $3 million the next year, but tax rates could go up. The $31 million is nice, but I could see myself being too generous early on and blowing a large chunk. Plus interest rates are so low now you wouldn't earn that much in the bank, so you would have to invest it, which has risks. I'd take the payments.

Israelshelper

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Report this Jun. 23 2010, 9:47 pm

Take the money and invest it wisely.

TaoTrek

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Report this Jun. 23 2010, 9:48 pm

I'd take the 3 mill a year and live in comfort the rest of my life. :cool:

Israelshelper

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Report this Jun. 23 2010, 9:52 pm

Quote (TaoTrek @ June 23 2010, 9:48 pm)

I'd take the 3 mill a year and live in comfort the rest of my life. :cool:

Previous behaviour would have to be curtailed.

TaoTrek

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Report this Jun. 23 2010, 9:57 pm

Quote (Israelshelper @ June 23 2010, 7:52 pm)

Quote (TaoTrek @ June 23 2010, 9:48 pm)

I'd take the 3 mill a year and live in comfort the rest of my life. :cool:

Previous behaviour would have to be curtailed.

Do you mean that I would have to be frugal? Sure, I naturally am.

norwegian

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Report this Jun. 23 2010, 10:00 pm

The trouble with taking the lump sum is that family will feel they deserve a cut. And I would want to help out. Just have the feeling that when I was done helping out (and doing a little splurging on my own), I'd be lucky to have $10 million left after the first year or 2. At 5% interest thats about $500,000 a year. Which would be great, but I think I'd do better with the $3 million a year.

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Report this Jun. 23 2010, 10:13 pm

Take the payout and invest it. Spend the first million (on nice things and helping the kids) and then live off the interest and dividends.

Israelshelper

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Report this Jun. 23 2010, 10:17 pm

Quote (TaoTrek @ June 23 2010, 9:57 pm)

Quote (Israelshelper @ June 23 2010, 7:52 pm)

Quote (TaoTrek @ June 23 2010, 9:48 pm)

I'd take the 3 mill a year and live in comfort the rest of my life. :cool:

Previous behaviour would have to be curtailed.

Do you mean that I would have to be frugal? Sure, I naturally am.

assumption isn't always the truth.

MaxwellPowert

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Report this Jun. 23 2010, 11:29 pm

I'm not sure how I'd take the money.

chr3335

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Report this Jun. 23 2010, 11:35 pm

Quote (TaoTrek @ June 22 2010, 10:57 pm)

Quote (Israelshelper @ June 23 2010, 7:52 pm)

Quote (TaoTrek @ June 23 2010, 9:48 pm)

I'd take the 3 mill a year and live in comfort the rest of my life. :cool:

Previous behaviour would have to be curtailed.

Do you mean that I would have to be frugal? Sure, I naturally am.

Frugal? Not necessarily but having a budget so you know were every dollar is going will help you avoid ending up like most lottery winners.

wissa

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Report this Jun. 24 2010, 2:04 am

depends on how old you are. If you are sixty it doesn't make a whole lot of sense to take it over 30 years.

Israelshelper

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Report this Jun. 24 2010, 2:12 am

Quote (wissa @ June 24 2010, 2:04 am)

depends on how old you are. Â¿If you are sixty it doesn't make a whole lot of sense to take it over 30 years.

So you're 60 odd!?

Gleekoid32

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Report this Jun. 24 2010, 2:59 am

I'm laying off the lottery until I go back home. The max winnings-without rollover- there are usually about 7.5 million. Which would be enough to do anything you want and still have money left over.

Unless you spend it all in one go on shoes or coats...

Israelshelper

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Report this Jun. 24 2010, 3:10 am

Quote (Gleekoid32 @ June 24 2010, 2:59 am)

I'm laying off the lottery until I go back home. The max winnings-without rollover- there are usually about 7.5 million. Which would be enough to do anything you want and still have money left over.

Unless you spend it all in one go on shoes or coats...