The big argument for the lump sum is that the money becomes a life changing
amount. I also think that is the biggest reason not to take the lump sum.
</quote>
I think that's the crux of it. There are many horror stories where individuals receive a lot of many and just burn right through it with out planning and understanding their new situation. Then a few years down the road it's all gone to bad investments, frivolous purchases, and other silly reasons. Then they have little if anything to show for their winnings and often a lot of legal problems due to unpaid bills and purchases.
That all said, the ticket in my wallet is a lump sump payment for the $30 million lottery. So If I end up with my ~$7.5 mil after taxes I'll consult the list before any investments ;-)
Ian
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