What would you choose if you were the one

[Rockstarguy]

Accepting to recieve this money in installment one needs to ask dome question,  whst if the gambling goes bankrupt. Whst if nobody heirs from them. Gambling site can unpredicted,  for me I may choose to take the money at once because deciding to take it installments anything can happen.

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.

One thing about gambling wins is that it has nothing to do with a third party, and if you, as the winner, are not available, I doubt that, in a case like this, family members can claim it if the winner is no more. I wonder why they didn't give him the money at once; it could be that they can't afford to give the money at once, and since it is a huge amount, I'm sure there will be a process for him to go through to get access to the money, like KYC or something else, that a third party would find difficult to withdraw if, eventually, he is no more.

[BitBakerr1]

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.

I will prefer to receive $450 million and pay the tax. If it is payment on installment, I will still pay the tax. I will prefer the lump sum. Both the two options are good.

Common $1 million is not a small amount money. If I receive $200 million, that is more than a life fortune for me.

I don't know how these kinds of things are handled in the US, but I doubt if the lottery would continue to pay the installments to his family if he passes away.

Actually if you have already claimed the money before you die, the money generally becomes part of your estate and can pass to your family or heirs.
However if you have not claimed the money and you die, your family can actually claim the money but it depends on the state rules and subject to the ticket’s claim deadline, if the deadline has passed your family cannot claim the money and even if you are alive you won’t be eligible to claim the money if the deadline has passed.
It all depend on the particular state in US, because every state has there own laws or rules regarding this issue.

[Mr_Brilliant$]

This is a very simple but hard decision to make. Installment of $20,000,000 after tax for 29 years and receiving $270,000,000 lump sum after tax of 40%. There are various reasons for making which ever decision. In the first place to make more money or to keep the value of this money is not by receiving it but by investment in a valued asset(s), and $20,000,000 yearly installment can give all that opportunity likewise receiving $270,000,000 lump sum. So I would just love to end it up with that company by receiving lump sum and start my investment journey like buying $100,000 worth of Bitcoin weekly for at least four years and few other investments.

That lump sum is easier said than done. I would invest and leave too ever after. A disciplened person with such amount of money is likely to do much better in self control than someone that doesn't. Even along the investment there are risk that is involved. One too needs to be ready to accept those risk. You can have everything jotted down and could still lose all. The people too around you matters. They will be the one to advice you well on what to do. Still it all boils down to what the individual want. Both are actually good.

[Agbamoni]

A previously existing company that no longer exists won't pay out debt as the company is closed for operation. This is the reason why I will choose an instant payment, not minding the tax percentage. The amount I'll receive is enough to start a better company or do a business that will provide the balance lost to taxes after 20 years. No one knows if the casino will continue operating for a long time. Personally, I won't be comfortable living my life knowing my money is with someone.

[alastantiger]

The important thing is not start spending the money lavishly just because it is available. Protect the principal, do my spendings from a portion of the interest, and re invest some of interest so that the money can keep growing. The instalmental payment also a lot of money, but taking lump sum will give me more control. I don't have to wait until next payment before making financial decision.

I will prefer the larger sum being given to me instead of the instalment all being paid as that will not make me make good use of the money as I would have loved to do as they will be coming in small amounts. When the money gets given to me then I will invest it too and also plan the money very well so I do not waste them on things that I would regret in the future. Winning a big sum of money has always been my dream and if that happens I known will not want to the denied the opportunity to have that happiness of seeing all my wealth and what I am worth all at ones being given to me.

[Franctoshi]

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.

I will prefer to receive $450 million and pay the tax. If it is payment on installment, I will still pay the tax. I will prefer the lump sum. Both the two options are good.

Common $1 million is not a small amount money. If I receive $200 million, that is more than a life fortune for me.

Same decision here, because they say a bird at hand is worth more than a thousand in the bush. I would have loved to know the age of the person so we can tell if the risk is worth taking. Let's say he's 25 years old now; he can manage to take the money, but anything more than 25 years, anything can happen along the line, where he may not leave to receive the rest of the funds, or the company goes bankrupt or closes. So for me, I will choose to receive the $450 million instead of waiting to collect it yearly until a period of 29 years. because what if I didn't win the money in the first place? Instead I will cut greed and take what is available and walk away; there are many things he can invest that $450 million into and get paid a lifetime or even more than the amount they won't pay him.

[Hazink]

I see that the majority of the people who commented here choose for the winning to be paid in installments, which is also the best idea I would have selected if I were to be in that position, since there won't be any dollar less than I will have to pay for tax no matter the method used to claim it, some might try to talk about currency devaluation over this year's, but it will be less compared to how some can burn all that money out if it's given to them all at once's within a couple of years.

[Cantsay]

The 34 million per year doesn’t really look like a small money to be honest, I think I would be more interested in the 30 years division than to take the lump sum.

There are a lot of people who are never going to make that kind of money till they leave this world, so it really isn’t a bad deal to take the 30 years split, it looks like a long time but that’s the best option.

[JiiBs]

It’s crazy how some of these gamblers find these luck. $1.04 Billion, that’s money enough for a generation and to be fair, it would serve me a lot better to be paid in bits than have it all at a go.

At the very least, I figure I don’t have a definite plan to do with such a lump sum.

The 34 million per year doesn’t really look like a small money to be honest, I think I would be more interested in the 30 years division than to take the lump sum.

$34 million a year would mean, getting about $2.83 million a month and that’s no small figure either. One could use that to do a lot to better themselves in that position and that’s where I’ll take my chances.

[9ja Amaka]

Hard to make my choice here. Well, I will prefer to pick installment payment provided that the casino keeps to the agreement. Hopefully, the casino does not go bankrupt in the future. Even if they do, the casino will have to clear the payment once before they make an official announcement. Based on the current economic situation of my country, the $34 million is not a small amount to start life with. Most people are looking for $1 million. And here is $34 million at stake. I won't hesitate to take the money, mate. Bring it 

[BitMaxz]

It looks like for me, if I'm the one who wins the jackpot, I might choose the installment one compared to the lump sum, which is instant. In installment one, I feel that I always win a jackpot every year with 20m to 21m im not afraid to die but I make sure if the installment doesn't need face-to-face to claim and automatically drops them into my bank account, it won't be a problem for heirs of mine or my family; they can take it and spend it.

The lump sump seems like not a good idea to me; you can spend it in a year and empty your pocket compared to installment one.

[Cantsay]

$34 million a year would mean, getting about $2.83 million a month and that’s no small figure either. One could use that to do a lot to better themselves in that position and that’s where I’ll take my chances.

It definitely is a large sum, and no matter how greedy one is, they would definitely be moved by that amount unless they just want to have the entire thing or they are scared that something might happen along the line and cause them to lose their money before that 30 years period. But if the money is guaranteed, then I see no reason not to opt for that 30 years time, but in the absence of that guarantee then once could go for the one time payment and just bear the loss that comes with it.

[Joy- maker]

I see that the majority of the people who commented here choose for the winning to be paid in installments, which is also the best idea I would have selected if I were to be in that position, since there won't be any dollar less than I will have to pay for tax no matter the method used to claim it, some might try to talk about currency devaluation over this year's, but it will be less compared to how some can burn all that money out if it's given to them all at once's within a couple of years.

That's why both options are good, it depends on what you want because there's no way you could escape paying taxes. But I will rather go with the first option, lump sum than the second one, even though it would be lower after paying taxes.

My reason is that, going home with$200 or so will immediately give more control over my money, and I won't see seasons to spend it recklessly. Beside, I could simply invest a significant amount of the money into Bitcoin or other safe assets with the potential for significant returns when I buy and hold it for long term, and use the rest of the money to sort out other relevant things.

[Z-tight]

If the one-time payment was at least 60-70% of the total winning, then i would have gone for it without a second thought, but in this situation it is even less than 50% of the total winning, so it does not make sense to me. I would choose the annuity payment option if i were to be the winner. I am still very young, so i don't have to worry about the age factor and these payments would change my life forever, and it also guarantees me financial security for like forever.

[romero121]

We don't know what happens tomorrow. On that note my choice will be to claim the lumpsum settlement and invest it. This way we will be able to have a trusted source backed along with periodic interest amount. This will automatically move to my legal heir if something has happened to me. If I go with the annual settlement, we're not sure about the settlement to the legal heir. When we were provided with the choice without benefitting, the company won't give it. If I go with yearly plan, surely the company will invest and annually settle with the interest got out of the investment.

[Questat]

I still prefer the lump sum amount. With my skills in business and profitable techniques, I won't doubt myself that I can grow that money and diversify into reliable and profitable investments, and that would make me earn unlimited amount yearly as long as the targets are met.

But what works for us may not be working for someone else. So I understand that having an installment may be good for those who find it hard to sustain their life and their future especially if they have no reliable skills and investment strategies that could elevate their earnings.

[mv1986]

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

Since he has to make that decision once and for all, I think I would take the lump sum. So many uncertainties over such a long period of time. he doesn't even know whether he will still be alive that long and you can't predict a reasonable discount factor. Thirty years is extremely long and apart from the taxes, you can't tell what $30 million today are worth in ten years, twenty years, and then thirty years. You might as well end up with less. Rather take the money, make some smart investments and you are better off.

[tsaroz]

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

There are a few Youtube videos already explaining which might be the better option and the conclusion is how he would spend the money. Getting it lumpsum would give him a large amount of money at once which if invested correctly would bring him much more money than those 29 years installments but If he's not good with money and want to have a steady flow of money in long term, the installments would be a better idea. Another thing that makes installments not as attractive are inflation. 20 million now and 20 million 10 years later won't be the same due to inflation.

[Roseline492]

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

The 29 years of receiving part payment will be more ideal for me, although is not because of escaping the taxes I'm accepting it, besides if you calculate the percentage taxes between the one time payment and the yearly payment it might almost fall on the same amount you would spend on the taxes but however what I'm considering about the 29 years is the assurance of not getting broke no matter what happens because you could choose to accept the $450 million and all of a sudden they hack your account and stole everything or worst but with the option of $34 million it gives me more confident in what I would be using it for.

[Samlucky O]

Snip

As for someone like me, I have investment plans in my head just waiting for capital to execute the plans. Whether lump sum or instalments, I will do well. But I will prefer a lump sum because 29 years is a very long time and we all cannot predict what will happen then. What if the casino faces some serious issues and payments are paused?

Well it is also good if you chose lump sum instead of instalment base on individual difference, although everyone is entitled to their opinion and I respect that. Aside from casino facing serious issues pertaining payment, age is another thing that matters, because If you are already 50 years when you won this amount, you may decide to apply lump sum instead of instalment of 29 years, which you don't know when the call of death will come as death is inevitable. So these are factors that need to be considered before one can choose his payment method.