Lump sum, invest in blue chip stocks if you are risk adverse and keep it moving.
Lottery winner rejects 1 million lump sums for 1k weekly payment, right move?
- Thread starter valet
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- lottery winner
JoseLuisGotcha
Aka Allhiphopsux
lump sum was the move...you can put the lump sum of say $400k into a stock that will pay you dividends that would be about the same amount a month
RamsayBolton
Superstar
you just said you were unemployed. Didn´t you receive a lump sum payment you should be good right?
Or maybe since people buy things as they need or want them they need a payment system that also gives them money just in time.
Dividends are partial payments distributed over time.
Givethanks
Superstar
Give me 1M at 20 and it's all gone by the time I hit 23, if it was my choice; I wasn't shyt at that age.
Thank God I had a mom who was wise and supportive
Thank God I had a mom who was wise and supportive
Dorian Breh
Veteran
What an IDIOT lmao
Everyone has to look at your own situation and money habits
Im old and im cheap and I don’t have kids so ill take the lump sum
If you are young 20,25 years old then take $1,000 a week especially if u come from not a well to do background with bad spending habits and automatically change your phone number and talk with a good financial advisor
Im old and im cheap and I don’t have kids so ill take the lump sum
If you are young 20,25 years old then take $1,000 a week especially if u come from not a well to do background with bad spending habits and automatically change your phone number and talk with a good financial advisor
The people saying take the lump sum is right. How has no one said, but reasonable property so you don’t pay housing, while your asset appreciates. Then, probably buy a reasonable Hyundai. Save the rest in a true savings account, make 4-5% percent year over year. Little risk, just take away the cost of boredom right away.
Congratulations now you have family and friends wanting to stay with you because you have a house at 20 and “you can afford it, you just a got a million dollars.” if you say no, now your relationships are fractured. We laugh at that Chappell skit of Rick James tearing up Eddie’s couch, but they asked him why he did it and he said “cause Eddie could buy another one”. Get ready for that attitude from everyone you know. Either way you cut it, you’re giving a 20 year old a check for a million dollars.
There was a prominent movie star that had this exact scenario happen to him, he said one day he was broke at 19 then next day he signed the contract and he had a million dollars and he took it out in cash because he didn’t trust the bank and bought 7 Rolex’s so he could wear one every day of the week. There’s a reason kids don’t have access to capital and also why winners blow money. And in the grand scheme of things 20 years old you’re likely screwing that money up.
Sauce Mane
Superstar
How's that a right move?
It would take her 20 years to get 1 million, and there's no guarantee she will be getting those checks 5, 10, or 15 years from now on
Always take the lump sum, so you'll have the money guaranteed
if she uses 500k and the other 500k invests in the S&P 500 with 7-8% interest rate of return, in 10 years she'll have 1 million and in 20 years 2 million
desjardins
Veteran
The way inflation is going this is retarded
It’s like if my grandma accepted $50 a week for life when she was 20 in the 50s
This is even before thinking about investing the money for a higher return
It’s like if my grandma accepted $50 a week for life when she was 20 in the 50s
This is even before thinking about investing the money for a higher return
