What would you do?

[ClaireG]

I would take the lump sum. I once worked on an account where we needed case studies from high net worth clients. One of the customers had won approx $50millon dollars in Macau and he worked with an advisor to pay off all his debts and the debts of his children. Then the FA worked out the best way for him to get a monthly income and save most of it, so it would just gain interest. Fascinating stuff

 

[rdjrneace]

We joke about this sometimes and my hubby & I would take the lump sum and hopefully have enough money to buy a vacation house in Smoky Mountains (Tennessee). We need a big house (at least 6 bedrooms) for my children & grandchildren. Just a dream but oh if it would come true.

 

[Cherylny]

You make me laugh too!
I agree for dreaming and plan in case we will be concerned!
One day, someone told me the only chance to win is to play because for sure all winners had played.
This still make me laugh! Hmmm maybe I'll play today, you are right after all we could be the next winners, who knows?

That's exactly how I feel - if you don't play - how could you ever win?????

 

[Cherylny]

Definitely lump sum and then invest. I've often wondered what the movie stars and sports stars do. I do know, though, that some (many?) of them just squander it away.

Yes, they do! I've read horror stories about them trusting the wrong people then getting in trouble and can't even pay their taxes.

 

[Cherylny]

I would take the lump sum. I once worked on an account where we needed case studies from high net worth clients. One of the customers had won approx $50millon dollars in Macau and he worked with an advisor to pay off all his debts and the debts of his children. Then the FA worked out the best way for him to get a monthly income and save most of it, so it would just gain interest. Fascinating stuff

Wouldn't it be wonderful to have the rest of your life planned out finaniall?????

 

[Cherylny]

We joke about this sometimes and my hubby & I would take the lump sum and hopefully have enough money to buy a vacation house in Smoky Mountains (Tennessee). We need a big house (at least 6 bedrooms) for my children & grandchildren. Just a dream but oh if it would come true.

Ohhhhhhh, that sounds so nice!! I LOVE The Smoky Mountains - what a wonderful dream!!!

 

[Sherri Tierney]

Definitely lump sum. I also saw a question that asked what is the first thing you'd buy if you won the lottery. My answer was that I'd purchase the services of a financial advisor. My house being paid off would obviously be a high priority, but I'd want to meet with an expert to be sure I'm doing the right things to make the money work for me (and later my children/grandchildren).

 

[Cherylny]

Definitely lump sum. I also saw a question that asked what is the first thing you'd buy if you won the lottery. My answer was that I'd purchase the services of a financial advisor. My house being paid off would obviously be a high priority, but I'd want to meet with an expert to be sure I'm doing the right things to make the money work for me (and later my children/grandchildren).

Absolutely agree!!

 

[Cherylny]

You make me laugh too!
I agree for dreaming and plan in case we will be concerned!
One day, someone told me the only chance to win is to play because for sure all winners had played.
This still make me laugh! Hmmm maybe I'll play today, you are right after all we could be the next winners, who knows?

That's right - we must never give up. Hahaha - let us all know if you win. (Whisper it and we'll stay mum) LOL

 

[Cherylny]

Definitely lump sum and then invest. I've often wondered what the movie stars and sports stars do. I do know, though, that some (many?) of them just squander it away.

It would be tempting to squander it - at least a portion of it. Maybe I'd portion out a lump sum to squander. LOL

 

[Cherylny]

I would take the lump sum. I once worked on an account where we needed case studies from high net worth clients. One of the customers had won approx $50millon dollars in Macau and he worked with an advisor to pay off all his debts and the debts of his children. Then the FA worked out the best way for him to get a monthly income and save most of it, so it would just gain interest. Fascinating stuff

Ohhhhhh, this is my favorite answer so far, I think. I could still get my "payments".

 

[Cherylny]

We joke about this sometimes and my hubby & I would take the lump sum and hopefully have enough money to buy a vacation house in Smoky Mountains (Tennessee). We need a big house (at least 6 bedrooms) for my children & grandchildren. Just a dream but oh if it would come true.

This sounds absolutely wonderful!!

 

[Karen_]

I'm pretty sure I'd do the lump sum because I wouldn't trust those payments to keep coming for the whole time! Although I think I'd have to lie to my hubby and tell him we were getting payments or he'd spend it all in a week. Ha ha ha!