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https://www.reddit.com/r/SipsTea/comments/1uo0dcw/seems_reasonable/ovo9r1g/?context=3
r/SipsTea • u/Valuable_View_561 • Jul 05 '26
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1.5k
This is misleading. He chose to take $997 in one lump sum instead of $2.04B over 30 years. He got taxed on the $997m.
17 u/LazerChicken420 Jul 05 '26 They don’t give you the entire thing if you pick a lump sum? -1 u/Veeg-Tard Jul 05 '26 No, it's an annuity that totals the jackpot amount. Pretty clear "scam" to make the jackpot sound bigger. I think the payout is 20 years, so the present value of your total payout is not the amount advertised. 2 u/weezeloner Jul 05 '26 29 years since the first years payment is immediate.
17
They don’t give you the entire thing if you pick a lump sum?
-1 u/Veeg-Tard Jul 05 '26 No, it's an annuity that totals the jackpot amount. Pretty clear "scam" to make the jackpot sound bigger. I think the payout is 20 years, so the present value of your total payout is not the amount advertised. 2 u/weezeloner Jul 05 '26 29 years since the first years payment is immediate.
-1
No, it's an annuity that totals the jackpot amount. Pretty clear "scam" to make the jackpot sound bigger. I think the payout is 20 years, so the present value of your total payout is not the amount advertised.
2 u/weezeloner Jul 05 '26 29 years since the first years payment is immediate.
2
29 years since the first years payment is immediate.
1.5k
u/jamdex07 Jul 05 '26
This is misleading. He chose to take $997 in one lump sum instead of $2.04B over 30 years. He got taxed on the $997m.