If you won the lottery, would you take installments or the lump sum?

Posted by: ladiesman

Vote
9 Total Votes
1

Installments

4 votes
1 comment
2

Lump sum

4 votes
1 comment
3

Depends on the jackpot

1 vote
0 comments
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TBR says2015-07-24T09:58:01.5233239-05:00
This comes down to "opportunity costs" and money management. Provided you are not an idiot, taking the lump sum, you will do MUCH better.
TBR says2015-07-24T12:25:59.3246079-05:00
Its fun enough to think about, and I have. The order of things I would do... 1) Call attorney. 2) Have attorney do any interfacing with state and press. 2) Hire CPA, and SEPARATE money manager/financial planer. 3) Get out of town. Don't tell anyone - (except close family) where you are going. 4) Low profile for 6-8 months (nice vacation). 5) Have money manager CPA help determine best options for the initial "generosity" amounts, and methods. (how much goes to mom, and the brothers/sisters etc.) 6) Resettle elsewhere. Move wherever you like, don't tell any new friends where the money comes from.

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