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If you won the lottery, what would you do? I'm not talking about how you would spend it and all that. I'm asking a bigger question. How would you take the money? Cash Option or being paid over the course of 20 or so years. I saw the MD lottery having one of their jackpots at 400 Million and the Cash Option is 222 Million.

What route would you go? I'm sure you'll receive A LOT more of the money if you take the 20 year course, but you have instant gratification if you go the Cash option route. I'm actually torn on the matter. Part of me says I'd get the money now and TURN UP! Or as my Grandfather would say, "Give me my money NOW". Then another part goes you'll get more money over the years and that will help you secure the future better, y'know?

What would you do?
 

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Depends on my age, I'm 22 now so I'd take the money over a 20 year period.

If I was say...50 though. I'd want it right away because I may not be around at 70.
 

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"He's just like someone from a David Lynch film."
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I would take it cash and live my life. That 20 year thing is horrible as you don't know what happens next.

First thing I'd do can be seen in your sig, OP.
 

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Give me the money over twenty years, immediate cash opens up too many possibilities that would erode the funds slowly, everybody's different but I can see myself attracting parasites even if I tried to keep it quiet or by recklessly spending because it's a whole new world that I wouldn't be ready for at this age. Having a guaranteed source of income through twenty years would keep me motivated and grounded because it would secure my future. If the money was like what the OP brought up, my patience would be rewarded with a higher jackpot, more money is always nice. Having said that, the plan could fail somehow for example the lottery company could go bankrupted (unlikely but you never know) on my side, I could die in an untimely fashion with the consequence being that I'll never see all of the money.
 

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For my own well being, I would most definitely take the cash over 20 years.

That is still 20,000,000 per year.

If I made a bad investment or pissed some away (which will happen to anybody), big fucking deal.... the checks will still come in for 18 more years. I'd be able to make some mistakes and, more importantly, won't set a 200,000,000 way of living that I won't be able to sustain once that 200,000,000 is gone (which is the trap people fall into).
 

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I'm actually studying this now in college..
It's kinda of a hard decision, If i take all the money now there's the taxes that I must pay, but if I take the year by year option it's kind of like the Gov took the 400M put them in gov bonds or a bank, and is just giving the interest for the next 20 years
 

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if I take it right away how much would get taken away for tax?

I need to know the final amount I can actually keep before I decide what to do with it
 

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Over 20 years but I'd first donate some hefty amounts to important points, i.e Parents, Uni societies to put on a show next year, friends I owe.

I'd definitely keep working, but I'd just not work weekends and be happy to buy rounds after work.
 

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I'd take it over 20 years, that way I don't have to worry too much if I piss away the first lot, because more is on the way.
 

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Over twenty years. If I got it all upfront, I'd for sure blow the money on vices and vanity projects.
 

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I'd leave the state as fast as I could so no one would bug me for awhile, I'd also buy a nice medium sized home after that I'd set a budget where I only spend a certain amount a month so I don't lose it all in a year.
 

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I don't play the lottery. I'm a theoretical math student and we spent a few weeks studying the probabilities that come with the lottery, as well as the government's pay cut out of it and what those funds are used for.

Lottery is just thievery plan and simple.
 

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Just take the money now. I'm not one of those people who would suddenly start spending thousands of dollars on designer clothes and wouldn't wear the same thing twice in a month or want to buy multiple cars/houses and stuff if I had the money to do so. So I won't have to worry about wasting it all. Sure,I'll still "waste" some of that money on random stuff,but none of the things I'd wanna get really cost alot.
 

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Take the money now, you never know what's going to happen over the next 20 years and I'd rather have the assurance of getting a nice sized lump sum and stick it in savings somewhere. Besides I'm about as frugal as you can get when it comes to money so it's not like I'd just go and blow it in a few years time like some people would.

Sent from Verticalsports.com Free App
 

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Take the money upfront no brainer there is no need to wait because that is already a lot of money. If I had a million bucks now I can assure I can live a rich life because I know what I am doing. I would not stop working I would probably work less and enjoy life so ya take the money now.
 

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Depends how small the payments are. I just assumed you always got the money all at once. I'm never worried about taxes but if you are, the tier system is something that people often don't know about.

WIth income, you're money isn't taxed all the same. the first 400,000 is taxed at a lower rate than the rest. A lot of people screwed themselves because they were set to make more but stopped because they thought their tax rate would be higher. Truth is that first 400,000 is still taxed at the normal rate.

Not sure if lottery money follows the same rules but I'd bet it does. It would also depend on what state you're in.

I guess I'd take the payments over time though. I mean, it's still gotta be north of a million dollars a year in most cases right?
 
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