Learn How A $27 MILLION Jackpot Winner Went Broke In 5 Years

[Bert.]

Further proof that taking the annuity is the way to go. If he had taken the annuity he would still have had 25 more years of ballin to enjoy.

And instead of 27M he would have gotten a prize of 70M Before taxes are taken out each year
Which is about 2.3M for the next 30 years of your life, or almost 1.6M a year after taxes.

But most people would rather take the lump sum or "cash option" and give away half of the money right from the gate.
And thats BEFORE taxes even touch the money.

its called loans and even filing a lawsuit to get most of that money up front if he decided he wanted it.

when you are a drug addict, annuity aint gonna stop you

 

[girlslovewaffles]

The article says he could've gotten $2.9 mil a year for 25 years.. Which equals out just about 75 mil...

Instead he choose a 27mil lumpsum after taxes.. Wau. :x


If I won that money, a huge chunk would be put into savings, a few hundred racks to have fun with. I'd probably
quit my job and focus purely on school, have a financial adviser to help me with saving and reinvesting the money.

What would be the point in going to school? Im sure I wouldnt be able to find the motivation to study knowing I have millions in my bank account.

Seriously?

 

[oidreez]

Lump sum is MUCH better if you know what you're doing.

You can flip that 29m into 100's of millions.

That's why I don't understand a lot of folks in here talking about buying a bunch of **** if they got that big of a lump sum.

Most of us on this site live pretty comfortably, why not just invest the money so you can reach levels that can change your families future for generations.

BC the average person is ATROCIOUS with managing money and making financial decisions

Because we live in a society of consumerism, greed, and immediate satisfaction

 

[jaysrcrak]

its called loans and even filing a lawsuit to get most of that money up front if he decided he wanted it.

when you are a drug addict, annuity aint gonna stop you

Yet and still 45.5M after taxes for annuity>>>>>>>>>27M after taxes.
Every day all day.

 

[dunksrnice]

Should of saved.

 

[buggz05]

Lmao @ that 1BR 4-car garage home

i actually like that a lot

There's nothing wrong with it. It's just funny because it's out of the norm.

 

[lstylez23]

SMFH

 

[oidreez]

its called loans and even filing a lawsuit to get most of that money up front if he decided he wanted it.

when you are a drug addict, annuity aint gonna stop you

Yet and still 45.5M after taxes for annuity>>>>>>>>>27M after taxes.
Every day all day.

Exactly. As long as we're not drug addicts, take the yearly payments

 

[mizzlefromdaroc]

Money doesn't change people. It just makes you more of who you already are.

realest post in the thread. 

 

[alp]

dude was prob a junkie before he won, which only accelerated his demise.

this

 

[certifiedflyboi23]

 

[sn souljah]

a lot of you dudes are frontin. First thing many of y'all would do is hit up flightclub.com and buy all ur grails lol...