Bob

...won the lottery, would you take the lump sum or go with the smaller annual payments?

Just wondering, what with the stupidly huge lottery payout this weekend....

Jerseygirl

I'd take the cash and run......................

Irn-bru

What's the point of smaller annual payments as you would be losing all that interest you would earn from the lump sum?

BigDavyG

Cash - works out at about 55% for the Megamillions - not sure about the Powerball (not that I've ever wasted even a split second thinking about it )

anotherlimey

I think it's because the payments give you the total amount tax free, whereas the lump sum option is taxable.

TruBrit

ohhhh the cash for sure...i want to see the colour of it now....

Pimpbot

I've always been told it's better to take the lump sum. And I'd take it straight to the Ferrari dealership down the street.

Bob

Because on the lump sum, you'd lose more than half of it on tax, but you wouldn't on the annual payments, the downer, they'd be making the interest on it instead

tony126

Take the cash.

robskatie

Show me the money, cash in one lump sum please

Elvira

That's a problem I'd like to have

But since I never play (the lottery that is... ) I'm not going to lose any sleep over it

Jerseygirl

[QUOTE=Elvira]That's a problem I'd like to have

It wouldn't be a problem believe me.

Irn-bru

Thanks and to bob. I wonder how many years you would get it for and what would happen if you dropped dead would your relations get it? Gosh i can't believe I am even wondering about this

Jerseygirl

Don't you mean if your relatives drop dead would you get the cash?

Irn-bru

I'm a glass half empty kinda person if I did win the lottery I'd die the next day (probably out of shock as I never play it )