Archive: 18 posts

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So I recently got caught up on the idea on becoming rich by playing the lottery. I had read on the lottery website that there was a 1:40 chance in winning a prize in the Cali Mega Millions. When I heard that they were gonna give up an insane total of $115,000,000 to the lucky ticket holder, I nearly wet myself. I had figured that if I spent a good amount of money on lotto tickets, I would have a decent chance at getting that $115 million. Seeing that it was recently my birthday, I took my early bday money to 7-11 and bought exactly 450 lotto tickets expecting to win at least $1000 and have a decent shot at the mega million jackpot. I got none of the numbers right except for two but that diddn't pay out anything to my dismay. But if I had won the lottery and got the mega million jackpot, I would have the option of either getting that money in one lump sum (at a much less quantity than what was awarded) or in annual installments (over the next 30 years). I can't figure out what would be better. So my question is, if YOU won the lottery, would you take the one lump sum or in annual installments. LUMP SUM: -pros: You get a whole lotta money upfront You can have the option of investing it all in a more efficient way than the gov't would -cons: You risk the chance of wasting/spending the money frivolously Receive a much lower sum than the actual prize amount awarded Risk the chance of becoming money hungry and end up losing more than you what you had. ANNUAL INSTALLMENTS: -pros Can't spend all the money in one place Get a lot more money over time than in one payment Don't risk the chance of becoming overgreedy with money. -cons: Don't get money all at once.

2010-08-25 20:33:00 Author: Enlong3 Posts: 357

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I would take it in annual installments because what if you got it in one big lump and you got robbed you would end up with nothing!

2010-08-25 20:42:00 Author: shadow3596 Posts: 2442

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lump sum! LUMP SUM! If i won the lottery i'd probably do the poverty option were you spend money on thigns that will last Fighting off Cynics Kernelm

2010-08-25 20:43:00 Author: Kern Posts: 5078

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Hmmmmm... I have always wanted to take a bath in a bath tub full of money...

2010-08-25 20:51:00 Author: moonwire Posts: 1627

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Well first i would pay for college, then i would give some to charity and family members, and buy a nice car, i would not upgrade houses, as how would i pay for them once my moneys run out

2010-08-25 21:13:00 Author: Snrm Posts: 6419

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I would take the lump sum, become evil, and start a war between two major/stupid countries then get a small oppressed nation like Peurto Rico, Cuba, etc., to form a militia to attack one of those countries in their weakened state. After all that I would probably be assassinated.

2010-08-25 21:17:00 Author: Bremnen Posts: 1800

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Rich poverty kicks butt!!

2010-08-25 21:18:00 Author: Kern Posts: 5078

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I would make all my wildest fantasies come true if I got that kind of money.

2010-08-25 21:21:00 Author: Enlong3 Posts: 357

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LUMP SUM! http://www.freewebs.com/cherryhat/cdough.bmp

2010-08-25 21:33:00 Author: trip090 Posts: 1562

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Depends on how much the "Receive a much lower sum than the actual prize amount awarded" amount was. Plus you could bank it and get some interest.

2010-08-25 21:55:00 Author: midnight_heist Posts: 2513

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I would definitely get it in anual installments. I don't see the point in a lump sum, if the 115,000,000 is spread over 30yrs that is still 3.83 million a year and I doubt that I'd even be able to spend that much in a year. I mean 1mil for a house, if I go absolutely all out I would buy a $20,000 Nissan 180SX and spend a couple of hundred grand on it. That still leaves me with over 2mil. I'd be spending the time I would usually spend working trying to figure out who I should give my money away to.

2010-08-26 07:09:00 Author: SR20DETDOG Posts: 2431

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LUMP SUM i wouldnt buy a house or move i would be driving about the streets of Grays (Essex) in a different car every day Monday: Porsche 911 Tuesday: Zonda R Wednesday: Aston Martin db9 Thursday: Lamborghini Murcielago Friday: Hummer H3 Saturday: T-Rex Sunday: BMW M6 AND I WANT THIS http://images.nysportscars.com/pictures/3559564.jpg

2010-08-26 15:54:00 Author: howMUCHforBOUNTY Posts: 623

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I'd take the annual installments.

2010-08-26 16:47:00 Author: mrsupercomputer Posts: 1335

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Wow, people like to waste money.

2010-08-27 01:04:00 Author: Bremnen Posts: 1800

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Annual definitely. It'd be a workless paycheck for me. Who wouldn't want that? Plus, if you save it, invest in some good stocks and all that good stuff, you could add another large sum of money to it. What a great life...

2010-08-27 01:10:00 Author: piggabling Posts: 2979

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Id build a house big enough for all my friends. each friend will get his/her own room with room for a bf/gf, bathroom and small living room. also there will be two big shared living rooms.. one for the girls.. one for the boys. mind you, the house will be eco-focussed and hopefully fully self-sufficient.. not that i am a eco-freak.. I just like the thought. with half of the money that i have left i will start an indi-game company and start out with small fun games, and eventually end up with buying the rights off sonic/zelda/terranigma/megaman etc and care for them like they are my babies.. and actually make respectfull new versions of those games that both the oldskool and newskool gamers would like. quarter of the money will be used for the daily things like food, drinks and that kind of stuff. and the other quarter of the money will be for charity, probably something animal related.. maybe buy a piece of the rainforest and make sure no tard can chainsaw his way through it.

2010-08-27 19:28:00 Author: Luos_83 Posts: 2136

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It would really depend on the difference, the NYC jackpot is pretty huge too. Do you know why the jackpots get so huge? because nobody wins If the lump sum was say 3/4 of what the 30 year annual pay out was, taxes included, I'd take the lump sum. Yes.. taxes, you gotta pay your tax on all that glory. I'm definitely sure I could make that difference within a year with all that extra money driving my investments. I'd just be happy to not have to worry about paying rent because... why rent? I could move into a house again. I wouldn't have to worry about feeding my family anymore.

2010-08-27 20:20:00 Author: Foofles Posts: 2278

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i would take lump, and give it ALL to Mm, and say "HURRY UP WITH LBP2!"

2010-08-29 22:23:00 Author: VeRsioNs_Z Posts: 341

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