What should I do.....? (money issues)?

Question

I have won a large amount of money. I can take it all at once, or take it in payments over a period of 50 years. I'd rather not say how much or how I won it. I'd just like to know what you would do if you were me?

Answer 1

What you do depends a lot on what kind of person you are. If you have a lot of self-control and self-discipline, take it all now and invest it, living off what it generates. If it's a large enough amount, it can form the foundation for enough growth to keep you in comfort for the rest of your life if you invest propersly. If it were me, that's what I'd do.

If, on the other hand, you're likely to spend it all as soon as you get it, take the sum over time, so you'll always have some money coming to you. It's not a very good solution though. Your annual payment in 50 years is going to seem a lot smaller than the one you'd get today. Inflation would just eat away its buying power.

Answer 2

Take the lump sum, but don't forget to pay taxes! Invest it in the stock market, you will get a higher return than regular payments.

Answer 3

depends on how old u r if u r under 20 then take for 50 years if not lump sum

Answer 4

Take it in payments - then you will get a consistant income without working if you wanted to.

Answer 5

I would have to ask if I take payments and if I die, will my kids continue to get the additional payments.

And send some $$ to me :).

Answer 6

Take it in payments unless you are an older person.

Answer 7

I would suggest taking the money in partial payments. Are we going to see you on TV holding up a check for $***,***,*** ?

Congradulations on your win!!

Answer 8

take the lump sum and put into a savings account which limits how much you can take out. so you can get the interest but you can't be tempted into spending it all!