Poll: Would you take the lump sum or take the annuity
Poll Options
View poll results: Would you take the lump sum or take the annuity
Take the lump sum
98 70%
Annuity
43 30%
Voters: 141.
Page 1 of 3
#1
Well since the pit has always been about hypothetical questions and "what ifs" I got to thinking of one the other night. I play the lottery from time to time and usually don't think much of it, but more so when the jackpot gets in the hundreds of millions.

It just got me to thinking I'd be scared to death if I ever hit the jackpot. Think about it, I'm 23 and most of us on here are quite young. Let's just say ya hit it big, $300 million. You have to factor in everything that goes into that. You didn't earn it, haven't the clue how to handle that. The pitfalls of coming into that kind of money is well documented with people becoming addicts, bankrupt, and some suicide. Friends come out of nowhere, family you never knew, and ultimately losing some real friends.

So the question becomes, take the lump sum and become instantly a millionaire or take the annuity and learn to slowly deal with that kind of money. Also factor in what you could do with the lump sum that you couldn't do with annuity and why you think the pitfalls are worth risking.
#2
i would open my own chain music stores...thats my life dream
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#3
lump sum all the way.

300 Mil. is A FREAKING LOT of money. if you take just half of that, or take 200 Mil and put it in an account, you can live off of the interest for the rest of your life. Take the other 100 Mil, and, say, splurge with like 3 Mil and use the rest for investments, opening a business or whatever.
If I had that much money, I'd open up a business, and if it fails, I'll still have more than enough money to fall back on, and to try again with something else.

EDIT: also, you can help everyone in your family. I know I'd give my parents a good portion of that money, give my grandpa and grandmas money to retire comfortably, make sure my siblings are able to go to any college they want to, etc.

EDIT: and also, at all costs, keep it a secret. From everyone. Say you won a little bit of money, like 30.000 or something, but never let anyone know how much money you really have.
Last edited by CoreysMonster at Jul 31, 2010,
#4
Buy some camera gear, a plane ticket to somewhere in the far east and travel for a while.

But I'd take the lump sum, give most of it away, then invest the rest and have a slow supply to a current account. I'd want still want to work for my money.
Last edited by vitchb at Jul 31, 2010,
#5
Take it all and buy a personality with it.
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#6
Quote by Partyboy2k05
Friends come out of nowhere, family you never knew, and ultimately losing some real friends.

That is so true, I cannot even begin to express.

edit: And lump sum, naturally.
Last edited by -[NiL]- at Jul 31, 2010,
#7
Friends and family only appear from nowhere if you put it out there. Try your best to remain anonymous. Don't tell anyone.

If people notice your spending goes up tell them it was an inheritance. People shouldn't know about stuff like that.

I'd tell my parents of course, and a few select friends. I'd have to, I'd be buying them gifts

But I'd enjoy it. Wouldn't change me, but I'd be so happy.


I'd take the lump sum though. I'd spend a lot of it, but on things that I'd buy now with spare money, not like.... lots of cars or whatever. Video games, consoles. Maybe a few arcade machines if I buy a house to put them in

In fact I'd probably buy a house for my parents, give them some money generally, then buy a house for me. I'd consider opening an aquarium at some point in the future. I'd do another Uni course in Marine Biology probably.
Quote by SteveHouse
Also you're off topic. This thread is about Reva eating snowmen.
Last edited by RevaM1ssP1ss at Jul 31, 2010,
#8
CoreysMonster has the best plan, 300 mil isn't a fortune, it's several fortunes so split it up and use it several different ways.
#9
lump sum...

spend all if not most on property.

also buy top hat, monocle and tuxedo.


edit:

oh I'd buy all the sneakers I've ever wanted...kinda would kill the fun though of not having to earn it.
yo.

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Last edited by Teh Traineez0rz at Jul 31, 2010,
#10
LUMP ALL TEH WAYZ I WUD BUY LIEK 500 LAMBORGINIS AND SHIT!!!

Nah, I'd buy a nice house, have someone I know and trust put most of that money away into an account, investments, then of course have maybe 1-2 mill as spending money :p Build my own recording studio or something like that.
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#11
and one thing I'd definately do is get a band together and go on tour.

EDIT: ^ recording studio basement is also a definate must.
Last edited by CoreysMonster at Jul 31, 2010,
#13
are we factoring in taxes? if not i'd take the lump sum so i could bathe in it like a jerk. if so id take the over time option.
#14
Wow, I wouldve thought at least some people would have went with the annual payments, guess everyone is a lot more comfortable with having that kind of money than I would be. Although I do believe I'd still take the lump sum. The staying anonymous is certainly the hardest part. Could you really keep it that way long though? What keeps you grounded after making your decision?
#15
I'd buy a house with a pool. Then put all the money in the pool. Then swim in the pool.

I may throw a pool party..... Yeah....
#16
Quote by Teh Traineez0rz
what?

and pay people to come to your gigs?

He doesn't need to pay people to show up, he's good


Quote by Partyboy2k05
Wow, I wouldve thought at least some people would have went with the annual payments, guess everyone is a lot more comfortable with having that kind of money than I would be. Although I do believe I'd still take the lump sum. The staying anonymous is certainly the hardest part. Could you really keep it that way long though? What keeps you grounded after making your decision?

I don't see how it'd be entirely too hard to keep it schtum.

Oh in addition to my post I'd pretty much buy all the shoes/clothes I wanted. I would buy many of the same outfits that Gaga has worn, so many good things.

I would be so happy.
Quote by SteveHouse
Also you're off topic. This thread is about Reva eating snowmen.
Last edited by RevaM1ssP1ss at Jul 31, 2010,
#17
Quote by Partyboy2k05
Wow, I wouldve thought at least some people would have went with the annual payments, guess everyone is a lot more comfortable with having that kind of money than I would be. Although I do believe I'd still take the lump sum. The staying anonymous is certainly the hardest part. Could you really keep it that way long though? What keeps you grounded after making your decision?

The memory of being jobless, poor and having to work the shittiest jobs just to make it through the week and never wanting to go back to that helps.

Also, the knowledge of idiots that get that awesome chance of having tons of money, and throw it away instead of working with it. I'd probably tell my great uncle, who himself is very wealthy, and is very good with money. He'd be able to give advice on how not to be stupid with money.

Also, 300 Mil is SO FRIGGIN MUCH, how in the world can you just spend it all? On what?! Hell, even with just 3 million, it boggles my mind with the possibilites you would have with it.
#18
TS, if youre scared of millions of dollars, do the rest of us that can handle it a favor and stay away from the lottery

Serious note though? Most in the bank, some in the stock market, spend a little, help my family out (hell with 300 mil I can help whoever I want out whenever I want), put money towards organizations with causes im passionate about. Etc. To name a few.
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#19
Quote by CoreysMonster
Also, 300 Mil is SO FRIGGIN MUCH, how in the world can you just spend it all? On what?! Hell, even with just 3 million, it boggles my mind with the possibilites you would have with it.

Pretty much

I'd probably find loads of things to do with 10,000, let alone 3 million, LET ALONE 300 million.

Money can buy me happiness
Quote by SteveHouse
Also you're off topic. This thread is about Reva eating snowmen.
#20
-sigh-
Some people on here get ill about me bringing it up, but this thread has my name on it, so yeah.

Quote by RevaM1ssP1ss

But I'd enjoy it. Wouldn't change me, but I'd be so happy.

I said that too. I don't exactly have 300 mil, but lemme tell ya: Upon taking an overdue long, hard look at myself this past year, I realized that I have changed. And not all for the good. So really stay true to that.

Quote by GibsonMan321
LUMP ALL TEH WAYZ I WUD BUY LIEK 500 LAMBORGINIS AND SHIT!!!

Nah, I'd buy a nice house, have someone I know and trust put most of that money away into an account, investments, then of course have maybe 1-2 mill as spending money :p Build my own recording studio or something like that.

Learn really quickly to handle it yourself, don't trust another person with it. They might try to fuck you, no matter how close you are to them. My own grandfather tried it on me.
#21
Also, try to keep what you want want to buy and all that out of the topic. If your decision is based on what you couldn't buy with the annuity then state that. Just state your reasons for choosing that option.
#22
[quote="'-[NiL"]-']I said that too. I don't exactly have 300 mil, but lemme tell ya: Upon taking an overdue long, hard look at myself this past year, I realized that I have changed. And not all for the good. So really stay true to that.
In what way would you say you've changed?

I don't know that I would. I'd buy all the things I wanted. I still intend to now, it'll just take harder work.
I buy things for my friends now when money permits me, I'd just do it on a bigger scale. I'd buy my parents a lot because they've always worked so hard for me. I'd maybe buy my Dad his own fishing lodge

I'd also still try to aim for my dream job. Having funds for equipment I need would help greatly, and plane tickets to get to some good locations for it, pay for scuba lessons.


EDIT: ^^ why? It's an interesting insight, I think.
Quote by SteveHouse
Also you're off topic. This thread is about Reva eating snowmen.
Last edited by RevaM1ssP1ss at Jul 31, 2010,
#23
Lump sum. I'd probably donate 298 million to various charities and people I know who need it then take the other 2 million and dissapear somewhere not to be found again.
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#24
Quote by Kensai
Lump sum. I'd probably donate 298 million to various charities and people I know who need it then take the other 2 million and dissapear somewhere not to be found again.

....you're far too nice
Quote by SteveHouse
Also you're off topic. This thread is about Reva eating snowmen.
#25
I'd put most of it in an offshore bank account, away from the taxman and I'd keep about £4m for instant access, I'd buy all the guitar gear I wanted and get my mates their dream guitars, I'd buy a house in a nice area and a good car, but I'd probably break all the links with my extended family and just start a new life.
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#26
Quote by Kensai
Lump sum. I'd probably donate 298 million to various charities and people I know who need it then take the other 2 million and dissapear somewhere not to be found again.

"Guys! Kensai won the lottery and disappeared!"

Me: *sigh*

*goes to amsterdam, checks the most expensive brothel*

*finds kensai*
#27
Quote by RevaM1ssP1ss

Money can buy me happiness

Same. And not by tangible goods. But because id be mother ****ing MAGICAL!

Hobo on the street? BAM! Wave my finger and hes not. My favorite family owned restaurant about to go down? BAM! You know? Itd be like, miracle for you. And a miracle for you. And here is one for you.

Im magical, bitches.
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#28
Quote by CoreysMonster
"Guys! Kensai won the lottery and disappeared!"

Me: *sigh*

*goes to amsterdam, checks the most expensive brothel*

*finds kensai*


im picturing a bed in the middle of amsterdam arena with 2 million dollars worth of hookers in a line around the pitch.

i dunno...
yo.

I BELIEVE
#29
Quote by RevaM1ssP1ss
....you're far too nice

I wouldn't even know what to do with the money. 2 million is more than enough to buy a motorcycle and enough gas.

Quote by CoreysMonster
"Guys! Kensai won the lottery and disappeared!"

Me: *sigh*

*goes to amsterdam, checks the most expensive brothel*

*finds kensai*


Fine, I'll go to the cheap brothels!
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#30
Quote by yellowfrizbee
Same. And not by tangible goods. But because id be mother ****ing MAGICAL!

Hobo on the street? BAM! Wave my finger and hes not. My favorite family owned restaurant about to go down? BAM! You know? Itd be like, miracle for you. And a miracle for you. And here is one for you.

Im magical, bitches.

Oh I'd totally be happy by buying myself a load of stuff.

However yeah I'd definitely do that. I'd have to make sure people couldn't tell it's me though, unless I'm giving out small bits to people. I'd love to run down a street throwing money everywhere though

I may dislike people >__> but people need cheering up sometimes, they might make someone else's day that bit more bearable.


Quote by Kensai
I wouldn't even know what to do with the money. 2 million is more than enough to buy a motorcycle and enough gas.

I am a woman. As long as there is a place to come home to and put all my new stuff - I will find a way to spend it.
Quote by SteveHouse
Also you're off topic. This thread is about Reva eating snowmen.
#31
Quote by yellowfrizbee
BAM! You know? Itd be like, miracle for you. And a miracle for you. And here is one for you.

Im magical, bitches.




OT: I'd take the lump sum, no doubt. I already have a plan set in place for events like this.
Last edited by JC13 at Jul 31, 2010,
#32
Quote by Teh Traineez0rz
im picturing a bed in the middle of amsterdam arena with 2 million dollars worth of hookers in a line around the pitch.

i dunno...

impossible.


he'd spend half on hookers, the other half on drugs.
#33
I don't mind the insight, it'd just be more interesting to know why you want it all at once and not just saying, "gonna buy a huge house and lots of guitars".

Like personally I'd take the lump sum, donate to all the charities before taxes so I get a tax break, which in turns gives me more money to donate instead of all that going directly to taxes. And that's not so I'll have more money overall. Just that I think donations work faster than the government, especially at local levels.
#35
it seems more reasonable if you're looking to get rid of it fast, or make an investment out of it.
yo.

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#36
I'd get a lump sum because I want it all now it can sit and make interest, most of it, while I go about business as usual... just with more of a spring in my step. I may as well dance everywhere at that point though.

I just want instant gratification. That's... probably near enough it.
Quote by SteveHouse
Also you're off topic. This thread is about Reva eating snowmen.
#37
Quote by RevaM1ssP1ss
I am a woman. As long as there is a place to come home to and put all my new stuff - I will find a way to spend it.

Each to their own. I wouldn't like having everything set already.
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#38
Quote by Kensai
Each to their own. I wouldn't like having everything set already.

But imagine what you could do with it! With resources like that, you could do anything you wanted, create whatever you want, CHANGE THE WORLD!


AND THEN RULE IT WITH AN IRON FI---


...


maybe you're right.
#39
Quote by Kensai
Each to their own. I wouldn't like having everything set already.

I wouldn't buy everything I ever wanted all at once. That'd make everything else a bit boring

But on a slow day I'd like the option to just... idk get a train to London and spend some money. Or get a last-minute flight, take some photos somewhere I've never been before... also shoes
Quote by SteveHouse
Also you're off topic. This thread is about Reva eating snowmen.
#40
Quote by RevaM1ssP1ss
In what way would you say you've changed?

I don't know that I would. I'd buy all the things I wanted. I still intend to now, it'll just take harder work.
I buy things for my friends now when money permits me, I'd just do it on a bigger scale. I'd buy my parents a lot because they've always worked so hard for me. I'd maybe buy my Dad his own fishing lodge

I'd also still try to aim for my dream job. Having funds for equipment I need would help greatly, and plane tickets to get to some good locations for it, pay for scuba lessons.

Sent ya a PM on all that.
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