Lump Sum vs. Payments: If you won the Mega Millions Lottery, how would you want to get paid?
Although, the odds of winning the Mega Million jackpot were about one in 176 million, which means a person would have a better chance of getting struck by lightning, many rushed to their local convenient stores to buy tickets. With a winning pot of $656 Million, three people struck it BIG! Now they have the option of either taking their third of the jackpot either with one lump sum or via payouts over several years. If they choose the lump sum, they will get $130 Million at once. Or, they can get annual payments that draw interest over 20 years. So, what would you do if you had won?
Lump Sum vs. Annual Payments
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