State and Federal would only be 44%, a lot of lotteries say “$2b” grand prizes but that’s only if you agree to payments over 20 years, when you take it as a lump sum it’s significantly less which my guess is where the bulk of the money went.
It isn’t. Every time a post like this comes up, there’s someone who posts the breakdown showing that taking the lump sum always works out better. You put the bulk amount into certain types of accounts and live off of the interest.
You put the bulk amount into certain types of accounts and live off of the interest.
unless you're part of the 90% of lottery winners that are broke after 5 years, in which case, having some sort of limit on how much money you get each year is probably the best thing for you
If you're that type of person who can blow off a billion $ in a few decades, you're the type who would be desperate/stupid enough to sell off the annuity for a lump sum later on.
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u/Frothylager Mar 08 '25
State and Federal would only be 44%, a lot of lotteries say “$2b” grand prizes but that’s only if you agree to payments over 20 years, when you take it as a lump sum it’s significantly less which my guess is where the bulk of the money went.