Lottery winner rejects 1 million lump sums for 1k weekly payment, right move?

[Wiseborn]

what if they go broke? then what?

Then she´d have 4 racks coming in. That will pay rent in most mid sized cities. 4 stacks is 100% VA payments there´s thousands maybe tens of thousands of passport bros and sis´s living good off that alone.

 

[Braman]

Stop at the bolded. My nikka we´re talking about regular people. You win the lottery and everyone is gonna have their hands out.

shyt will be like this:


and fukk it a million dollars in the grand scheme of things is nothing. Buy a fly house in a major american city and that money is gone right there.

You´re talking about nikkas who got twenty pairs of Dunks and nothing in the bank.

Could you flip a million if you invested carefully absolutely but there´s tons of 40 million dollar slaves walking around now that fukked up a 100 million.

At the end of the day this is all speculation about a chick who decided it was a good idea to play the lottery anyone who plays the lottery isn´t too smart to begin with so getting a grand a week and dollar cost averaging that into ETF´s is the smarter play.

This doesn’t make any sense at all

Right off top, you’re not clearing more by investing less. So whatever ETF you would do with 1k weekly(or any investment vehicle), you would gain more with the larger up front investment.

I just don’t like the messaging that it’s some type of preference play and each choice is equal. Nah it really ain’t. Unless your preference is to make less money

 

[Toe Jay Simpson]

I would have took the lump sum.

$4000 a month means depending on your lifestyle you still have to work. I would buy a house and a car flat out and have it paid for. Then I’d slide my cousin a couple racks to handle ol boy for me that be talking that mess.

 

[Atlanta 80s baby]

Read that lump sum may be 40-50 percent of the mill, I'm taking the weekly payout. bytch young and going to blow that money within a few years, she can chase her dreams while still having a safety net there at all times.

 

[True Blue Moon]

I'm confused by the responses in here. You don't need to be a financial advisor to understand that $1 today is worth more than $1 tomorrow. And personally I'm not trusting the government to pay me out forever. Let some crisis happen and they'll just pull this shyt from you with no recourse. I'll take my money upfront.

Yeah, I’m shocked that the trusting them to actually pay you for the rest of your life part wasn’t mentioned earlier.

 

[Ozymandeas]

She basically ensured her retirement and gave herself a pension.

She's getting $4,000 a month for the rest of her life. If she's smart enough to invest it properly, she'll start feeling "rich" by year 4 or 5.

 

[Roid Jones]

I'd take the lump sum

 

[Ozymandeas]

this is the importance of financial literacy as the time value for money means categorically this was a bad call. take the a lump sum & set up a trust fund that has an annual structured pay, term deposit & mutual fund. she'd get weekly checks that accrue & beat inflation

Logically, this is the smart choice. Realistically, most people will blow through the money, rendering it pointless.

 

[4-Rin]

She's only 20. I know we are all olds here but how many financial responsible chicks did you know back when you were 20? That mil would be blown on stupid shyt within 3 years if she didn't take it in payments and she knows it.

She made the right choice for her.

 

[Roid Jones]

Once again

We can listen to Coli investors

Or

We can look at the numbers and see that MOST lotto winners go broke.

So many folks go broke and say they wish they took the weekly/monthly annuity payments.

No matter how much the math be mathing in your brains, most of you ain't gonna be as smart or mature with the money as you thjnk you will.

Man stop all that yapping and go clock if for work, goofy

 

[Roid Jones]

She's only 20. I know we are all olds here but how many financial responsible chicks did you know back when you were 20? That mil would be blown on stupid shyt within 3 years if she didn't take it in payments and she knows it.

She made the right choice for her.

Financial responsible chicks at any age

 

[Roid Jones]

If you don't personally know her you can't say whether her decision is right or wrong

She might have a gambling addiction for all we know.

Nah her pimp wouldn't allow that

 

[Wiseborn]

This doesn’t make any sense at all

Right off top, you’re not clearing more by investing less. So whatever ETF you would do with 1k weekly(or any investment vehicle), you would gain more with the larger up front investment.

I just don’t like the messaging that it’s some type of preference play and each choice is equal. Nah it really ain’t. Unless your preference is to make less money

well get on nikkas for being super consumerist make a Investing thread.

If you´re into investing it works because the majority of people are stupid with money. My ex is thinking of getting a loan to fix a house that I advised her not to buy while working a temporary job.

This is Colombia where a Bank is offering a 14% APR on a CD so I can just imagine what the loan rate will be if they give her the loan.

 

[Silkk]

Nobody stated the obvious all first page

Let me read the rest

 

[MikelArteta]

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