HIT IT BIG!!!!

[The Luke]

....ok, it was my bosses wife that hit it big. They just got back from Vegas and hit $1,485,000 on the Wheel of Fortune game. He's trying to decide what to do: Option A, $77,000 per yr for 20 yrs on Dec. 10. or option B. A lump sum of $1,120,000 and stick it in an account that he does not have access to so he doesn't blow it all on hookers and cocaine(his words).


What would ya'll do?

 

[ForMud]

How old are they?

 

[The Luke]

How old are they?

Mid 60's. Already financially comfortable. Vehicles paid off. House paid off. I forgot to add that the wife is taking 20k to spend on her brand new JK to get it exactly how she wants. But that's her dream car that she just bought at 60. So I say give it hell!

 

[ForMud]

Being that old, I think I would take the lump sum.

If it was me..... I would take the lump sum too, cus you never know what might happen....Might as well enjoy life while you can.

 

[onepieceatatime]

I would take Option B and

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[poolman]

15 years ago last August we were in Vegas at the Rio, my wife was playing the wheel of fortune game, I was sitting about 40 feet away at a sports book. She got up and moved down about 5,6 seats then a man sit down where she was and hit little over 4 million. IN THE SAME SEAT SHE WAS SITTING IN!!!! :****: So many bells and sirens went off I thought the place was on fire at first.





Lump Sum. All the way.

 

[tonybolton]

Lump sum! At that age...live it the **** up!!!

 

[Throttleout]

God forbid, but what if something happens to them and they took the 20 yr plan. Who gets the money? Lump some has my vote

 

[Zjman]

Lump sum and set up ur kids and grandkids, and do it through a fund where they can't blow it at once


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[jp fan]

Cool to hear that someone hit it big time seems rare to hear about that kind of amount

 

[money_pit_yj]

1.4 million is probably not enough to live on forever so I would take the $77K/ year and keep on rocking the way I have been. Maybe up my contribution to my 401K and know that I have a pretty nice cushion to keep me going............then buy some cool stuff that was previously out of my budget.

Lump sum! At that age...live it the **** up!!!

Easy for you to say sir, that is couch cushion money for you ;D

 

[blacksheep10]

Over 60? Ya, live it up. 1.1 now vs 1.54 over the course of time, hell lets hope the dems don't **** it up and inflation outruns the time value of money on that one. Is that tax paid numbers or pretax numbers. That would swing it as well, 1.1 now means like 700K now or take less than a 40% hit on the 77 every year if taxed as reg income. I'd take the 77 if it were taxed as regular income, I don't claim any now and neither does the wife, would make a nice little income for 2 small business owners.

 

[The Luke]

The numbers I have are all after taxes. The official win was 1.6ish

A Tonybolton amount of money either way.

 

[tonybolton]

............then buy some cool stuff that was previously out of my budget.

Like ANYTHING is out your budget...sheeeeeeeeeeeeet.

I'm over pourin' water in my aluminum cans I'm ditch-pickin' so they'll weigh more when I go to cash'em in!

 

[tonybolton]

The numbers I have are all after taxes. The official win was 1.6ish

A Tonybolton amount of money either way.

I couldn't afford the paper the check was written on....let alone the ink! I'm not Hardline-ballin' like ya'll.

 

[The Luke]

You ain't foolin anybody. I see your hourly Instagram post where you're gangsta leaning in your v6 mustang and listening to that hibbidy hop

 

[tonybolton]

You ain't foolin anybody. I see your hourly Instagram post where you're gangsta leaning in your v6 mustang and listening to that hibbidy hop

It's just the car beside me with the music....had to sell my radio for some new socks. I like it when they cover at least 2 of my toes. Little toe got stuck in a Pabst can once while ditch-pickin. So embarrassing.

 

[Dwalk]

At that age, hell at my age which isn't far away I would take the lump sum, for the sole reason that I would make interest on the money, not someone else.

 

[creepycrawly]

Regardless of age or station, I would take the lump sum. Taking the $77k per year doesn't let me go buy a house outright. I'd have to finance it and then I'd be paying interest to use someone else's money while someone else was using my money without paying me interest.

I'd still go to work and continue my career path just like I didn't win anything. The only thing that would change would be where I went on vacation!

 

[collinmaune]

Lump sum, stick it in a few decent diverse funds get 4-6% interest there's your 50,000 to 60,000 a year just in interest!