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So, You Hit Megamillions for $1.6B
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[QUOTE="UConn Esq, post: 2886901, member: 273"] If you pick lump sum you get just over 900M instead of 1.6 billion. So long term you receive more money from the actual lottery. But if you take the lump sum on day 1 the interest is accruing more greatly. In that same 30 years you would accrue 550 million dollars on the 600 million dollar post-tax amount just by having a 3% annual interest. If you can get to 6% interest you make over a billion in that same time span that you’re waiting for the lottery to finish paying out. [/QUOTE]
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So, You Hit Megamillions for $1.6B
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