Powerball Options
If you won the $1.5 billion Powerball jackpot, would you take the cash option or the annuity option?
I've always thought that if I won a jackpot I'd take the cash option, but with a prize this large and an annual payout of $50 million a year for 30 years, I might reconsider. That's a pretty hefty annual income. The annuity option would guarantee that you and your heirs would receive the full $1.5 billion before taxes, and would set up you and your heirs for a very long time. It would also keep me or an heir from making a horrendously stupid investment mistake and lose it all, which happens all too often with lottery winners. What do you think?
OK, I know 292,000,000 to 1, but a guy can dream can't he?
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