Quote:
Originally Posted by Rusty
I hit the Powerball number last night. All I got was $4.
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$4 more than what I got
Maybe I'm naive, but I never really understood:
1. Why would anyone opt for the annuity option? I understand it's less taxes you pay and you get more overall after everything is paid out, but I can make more money by taking the lump sum and investing.
2. How is it that alot of jackpot winners go broke in 5 years?
It could take anywhere from 10 to 25 years for someone to make a $1 million in wages, but go broke in 5 years with $100+ million with lotto winnings?
3. Why people collect the winnings without any preparation. Rather than becoming a walking target and having "family" come out of the woodworks for hand-outs, I'd personally wouldn't want my name published, and would remain anonymous (hopefully) by creating a trust or entity to collect my winnings.