What would you choose if you were the one

[Cryptomultiplier]

The common denominator here is the taxes such an amount of win would incur and either way, the taxes would always get deducted, so why not take it at once and reinvest it into some good venture that has the potential to double the capital?

I would definitely take it at once despite the tax involved and that is to say that waiting might just come with problems that is unforeseen and unplanned for.

[Out of mind]

Since it is a lot of money, I think it would be safest to withdraw it in installments every year. If he gets $20 million in installments with annual taxes, his real life will go much better and he will be able to do everything he needs. And if he can withdraw $450 million at once, it sounds attractive, but the taxes will be much higher here, which I do not think is safe at all. Although it would be great to have so much money together, I do not think it is safe, but it is safer to take it in installments every year. If $450 million is withdrawn at once, then of course he will buy a lot of things with it and finish it very quickly, and there may be additional costs and the possibility of being a victim of fraud, so it is not safe. But if it is brought in installments every year, he will also be able to invest here, and everything necessary will be possible very easily. If I have to take any of these more, I will definitely take it in installments because $20 million per year is everything necessary and will be safe.

[Yorubek]

Basically, jackpot is not for everyone, there are very few people who are very lucky, only they can win the jackpot, if I am that lucky person, then I will definitely take the money in installments instead of taking all the money at once, because if I take a huge amount of money at once, I will spend more than necessary, no matter how large the amount of money is, if it is not used properly according to the right plan, then at the end of the day or at the end of the month or at the end of the year, we will not have any change, I will not be able to invest a large amount of money in the right place. And if I take the money in installments, then I will get that money gradually, which will save me from overspending and gradually I will get the opportunity to invest all the money in the right place and even if I do not succeed the first time, the second time there will be more chances of success. You will not have to worry too much about the money, so it is safer to take it in installments than to take all the money at once.

[xenomorfo]

A lump sum payment would be much better for me than receiving the money in installments over 29 years, especially since there’s no guarantee that I’ll even still be alive by then. With a lump sum payment, we could do so many things with the money, especially invest it for our children and our retirement. That would be much better.

There is also a downside to receiving the money in installments. Usually, when someone knows they’re going to keep receiving money for several years, they may not value it as much and may keep spending it on gambling with the mindset of, 'I’ll get more money later anyway if I run out.' That kind of mindset can develop when a gambler suddenly receives a large amount of money.

oh god, it depends eh
if they give you more money over the 29 years and you're young, it doesn't matter
but if in my case, I'm old and i don't think I'll live for another 30 years (if I'm happy with another 20) i wouldn't like it

I wouldn't even have a son to leave this inheritance to, so like you i would like all the loot.

[Alex077]

Now think about it, if you just put this $270 million in safe US Treasury Bonds or S&P 500 or Diversified Investment Funds at 5% to 7% interest, you will have an income of $13 to $19 million in first year without any kind of risk !

It is never that easy. Never. Profits are not so guaranteed,, and you would lose a lot of money trying to invest. You would also spend money on yourself, family and friends. In reality, you won't have over $200 million and still live the kind of life you lived when you were making $40k a year.

Dude, he didn't tell you to invest in some uncertain altcoin or ponzi scheme or high risk startup! He said US treasury bonds or S&P 500 fund. Unless US govt doesn't go bankrupt, the chances of losing money in these bonds are very low.

And the luxuries, relative or living expense that you are talking about. Out of the $270 million you have after taxes, if you blow $20 million on your house, car or family, you will still have $250 million in capital! Even if you leave this money in bonds then you will get billions of dollar in passive income every year.

[Nathrixxx]

Both options are good. But if anything happens to the person like he died, will they continue to pay the guy family the money? But that also has disadvantages.

This is the same thing I will also advise, because we only know today and no one knows about tomorrow, he had better claimed his money being is entitlement and pay the tax, even though I know that the consideration to any alternative in this regard is to evade the payment of tax, because I know that government will also charge huge amount on this, it is a pity that government are not even helping out in the situation than to ensure they tax us from every fortune they see us achieved.

[BitcoinPak]

Anyone sane enough who knows maths would choose the annual payments, because if taxes take a 40% cut, for example, he would only get $270m for taking the lump-sum amount, whereas if he takes the annual installments, he would eventually get up to $600m after the taxes, which is a huge difference. Some might say that what if the person doesn't live for 29 years, I think even if something tragic happens, there must be a rule for a beneficiary receiving the funds on his behalf, so he can surely get someone's name written that can take the money annually if he's not around anymore probably by showing the death certificate.

$20m a year is a lot of money. One can literally do anything with it, obviously. Whether you want to start a business, make investments, or do whatever you want, because you don't need to work after you have a guaranteed $20m coming each year. Anyone who knows how to manage money can easily build their life and the life of the upcoming generations with such an amount. However, someone who can't manage it well, they might as well just keep losing all the funds in gambling or lotteries again.

[Awaklara]

So what would you choose if you were the one?

I was shocked to see the taxes the government demands are that high. They don't provide any protection to players and enjoy taking high taxes from players' winnings. If I were in that position, I would choose a lump-sum payment. The amount might be lower than paying it in installments over 29 years. But that's a very long time, and there are still some risks. Take the money and enjoy the win.

[danherbias07]

Depends. If one has a plan that will require a huge sum of money, like buying a big house and probably more leisure and investments, then taking the initial payment in a large amount will be best.

Now, if he is not in a rush and $20-30 million is enough for a year, and he won't spend it on anything crazy, then take the installments. Still, if you won that money, how are you going to sleep well knowing that you have a lot of money but you will have to wait? I think a winner's first option will always be taking the large amount, and it won't matter if the taxes are high as long as he knows that he has enough money for whatever he wants in a year.

[jeremypwr]

If I were to win a giant lottery I would definitely take the lump sum up front.
Tax me whatever you want; I'm good living the rest of my life with a few hundred million in the bank.

[Odohu]

I wish I can be in this situation one day; a situation where I will hit jackpot and have to discuss with the casino how they are going to schedule the payment so they are not bankrupt.  I will definitely chose the option of yearly payment because the advantages are just so much. As long as I have the assurance that the casinos will continue to honor the agreement,  I will be happy to receive $20 million per year for over 30 years instead of on off $420 million. My simple reason is to avoid mismanagement of the money.

[Odohu]

I wish I can be in this situation one day; a situation where I will hit jackpot and have to discuss with the casino how they are going to schedule the payment so they are not bankrupt.  I will definitely chose the option of yearly payment because the advantages are just so much. As long as I have the assurance that the casinos will continue to honor the agreement,  I will be happy to receive $20 million per year for over 30 years instead of on off $420 million. My simple reason is to avoid mismanagement of the money.

[I_Anime]

A man in Illinois won a $1.04 billion jackpot a few days ago, now he has to choose how he would receive his money.
He could accept a total sum of $450 million at once or receive 30 payments in instalments for the next 29 years.
The lump sum of $450 million sounds nice, but when you consider the taxes, you might be walking home with just over half of that money at the end of the day. I'm not a tax expert, and I don't know the tax regulations of the US or the state, but from my rough reading, you'll have to pay about 40%-42% total in taxes for that amount.

If you receive payment in instalments for 29 years, you would receive about $34 million years. So if you take out a total tax payment of about 40%, you would receive about 20-21 million every year after tax.
So what would you choose if you were the one?
For me, I would choose to receive the payment by instalment. $20 million a year puts me in the top 1% of earners in the world, and I can do whatever investment I want to with that. With a payment like that, I may not even need to touch a penny from the other payments.

The full story here and Here

$1.04 billion is a huge amount of money same goes for the $450 million but compare to the &1.04 billion $450 million is quite small . Receiving $34 million installments payment is also nice , due to the tax and other stuff I will go for the $34 million , though we foresee the future anything can literally happen either something happens to the casino  or something worse death . Is kinda dark but some folks may not get up to that 29 years so these are things you are still going to consider, but still I personally will go for $34 million cause is enough for me to do a lot of things , especially with the knowledge I’ve built so far .

[adultcrypto]

The common denominator here is the taxes such an amount of win would incur and either way, the taxes would always get deducted, so why not take it at once and reinvest it into some good venture that has the potential to double the capital?

I would definitely take it at once despite the tax involved and that is to say that waiting might just come with problems that is unforeseen and unplanned for.

I have seen the analysis of the taxes and I can assure you that the taxes will be the same for both options. If the tax rate is 40%, that is exactly what the winner will pay even if he receive the winning ten times. If I get this type of massive winning, I will go with the option of one time payment of $420m and after tax even if I have $$250m to $300m, I will be satisfied. That money is going to change my life and that of those around me forever and I will still give out at least 10% to charity.

[iv4n]

For me, I would choose to receive the payment by instalment. $20 million a year puts me in the top 1% of earners in the world, and I can do whatever investment I want to with that. With a payment like that, I may not even need to touch a penny from the other payments.

In both cases, it's a life-changing amount. I guess most experienced people will choose this option... imagine $20 million per year, enough money for everything. But I also understand people who would like to take that bird in the hand, all or nothing.

In any case, this amount is huge... even if you take it all at once, you have so many options. There's enough for everything...

But what are the chances of hitting something like this? 

[bhadz]

I'll take the lumpsum, I don't know how long I'll live this world and everything is uncertain. Having that lumpsum money at least gives me a peace of mind that I don't have to go to work and wake up too early in the morning. I don't mind paying the taxes, that's part of it. While receivin the other amount annually is also a good one. But I don't want for that long, I'll spend the entirety with whatever I have in my mind so that I don't have to wait for that long until I receive the whole payment. How I wish that anyone from us here can win that much.

[Bitcoin.com97]

I would say the two options are good ,but to me I preferred $450 millions and pay the taxes ,the 20m yearly is also good but has a bigger disadvantage,what if something went wrong along the line ,the money will be withhold ,life sometimes can be unpredictable,just as gambling,one can predict and feel they got it all right ,at the end of the game everything may go wrong ,so if such a opportunity is given to me ,I will take it at once pay all the necessary taxes and think of a way to double the money , probably invest wisely .

[Renampun]

If I were told to choose, I would probably choose to accept payment in installments.. where else can you get 20 million dollars a year for 29 years? although I won't be sure if I'm still alive when it's paid out, but I prefer to gamble for the long-term payout rather than taking the entire amount upfront but losing up to 40% just to pay taxes.. it's just not my style to pay that much taxes to the government.

[Haunebu]

It's a pretty simple decision for me to be honest. I would simply take the entire amount along with the big tax cut immediately and throw the entire thing into a 100% trustworthy fixed deposit account in order to enjoy huge paydays literally every month.

This would secure the base amount as well as provide huge amounts on a regular basis making me one of the richest people out there. This would help me and my family for generations.

[leonair]

The thing is, this is easy money, even though he gambled with risk and could have lost his money here. But since he had such a big jackpot, he won. In this situation, I would have received $450 million and of course paid taxes and I would have spent the rest of my life luxuriously with that money after paying taxes. Because I, as a human being, can die at any time, so if they refuse to give my family money after I die, then my family will be deprived of that money. The better option is that I will receive the money I receive together and enjoy it myself and make arrangements so that my family or future generations can enjoy it in my absence. And if I pay government taxes, it will contribute to the economy of my country, of course I should pay it.