which would also be gaining ~5%. Is the difference negligible when you factor in inflation, etc? Is the difference negligible when you factor in inflation, etc? That's like making just under $75,000 gross at a job.

Now you just have an endless supply of spending moneyI get the aviation thing, what's the hot tub reference?Daily Grand (the lotto that was won) have true "for life" terms. The u/Cash4life_ community on Reddit. I feel like there's been a HUGE weight lifted off my shoulders.. Using Ontario's "Cash For Life" instant game as an example, would it be smarter for a 30 year old to take to the $675,000 lump sum or $1000 per week for life? Half now and half for later(CCP) would be my simple financial plan :)Lump sum is ALWAYS better than weekly payout because of compounding interest. If you're curious I can do the math for you.Not true, if you invest it all and don't spend a penny in the long run the weekly payout pays more. Cash4Life is one of our most exciting products to date. It'd be great to have $52,000 you could invest/save then your pay would just be like normal.The lump sum is asking for disaster.

Find communities you're interested in, and become part of an online community! Reddit gives you the best of the internet in one place. Reddit is a network of communities based on people's interests. That makes it an extra 200k just on the principle.Don Pister, manager of public relations for OLG, said in an email that the annuity prize of $1,000 per week could be transferred to a beneficiary if the original winner died.“Payments will continue for up to 20 years, or until the date that would have been the deceased winner’s 91st birthday,” he said.Unless that means the entire annuity is 20 years, whether it is transferred or not. Like Powerball, there are nine ways to win a prize. Having my face out there is going to scare the shit out of me in the beginning.Can I have the payout for the 3rd week of April every year?This may not exactly apply to your situation but planning early will help you avoid being taken advantage of.This is harder advice to follow once you’ve already skipped the lump sum and gone daily payout. Not tryna be salty or anything just lowkey jealous if it is trueI'll be posting a picture from the prize centre.

I thought I recalled that.I'm not a super math person, but even 5% return on the initial 625k over that 25 year period would net you an extra 100k (1.4m vs 1.3). Check out the chart below for all nine ways to win a prize in Cash4Life® It literally means for as long as you live.18. If it is only 20 years that makes this question a little easier to answer.You can google "time value of money" to learn about this, if you like.Short version: it depends what you think will happen with interest rates/inflation over the next 25 years.The stable income would likely force you to keep a job.

He's doing well because he isn't acting like a lotto winner, it's as if it was the social security he was receiving previously (he's disabled). ($1000 x 675 weeks is about 13 years, so after that point you start "profiting")Only choose the weekly option if you are terrible at managing finances.Better from a purely mathematical point of view, maybe. You can win £1,000 every single day for the rest of your life with our exclusive Cash4Life jackpot.

One of my friends won a $5,000 a week for life in the NY Lottery a few years back. But $52,000 a year isn't much cash. It's actually only for 40 years, but that's plenty of time to save for retirement and live a long happy life. Win £1,000 a day for life - NOW DRAWN DAILY! When you pick the $1000/week option you may get a new computer or a surround sound, maybe a new xbox or something for the first few weeks then you will settle down and you will get used to it and it will be an extra pay cheque coming in that you will manage.Getting the lump sum you have a better chance at splurging on something big like a new car, or house or something since you have this HUGE amount of free money and then nothing after its all gone.Not saying everyone or even OP would do that, but it would be human nature to do that and even the most financial smart would probably overspend on something with the lump sum instead of gradually using it for stuff over the yearsBehaviourally it is almost always better to take the "cash for life" versus a lump sum.There are many stories of lottery winners who later go bankrupt - there's a good academic study that correlates the likelihood of bankruptcy with lottery winnings (from Florida, where all bankruptcy AND lottery winning data is collected and published).This is of course a totally different matter than "what is the better deal financially"Here is how long you would have to collect the annuity for to end up with about as much as the lump sum at various rates of return.You would be hard pressed to find a GUARANTEED 5% rate of return (assuming the the annuity stops paying after 20 years as someone said and even harder to find higher return if it lasts longer).Edit: If it is in fact guaranteed to pay for 20 years even if you die, theoretically you could short $730k worth of 20-year government bonds yielding about 2.1% and pay back the interest with the annuity saving the rest to refund the principle after 20 years.

There is no set maximum on the length of the payments.I live in Canada. It … Cash4Life is one of the most popular lotteries that are hosted in the biggest states of America. But from a real-life, people-are-not-rational-beings point of view, its probably not better.Lump sum is ALWAYS better than weekly payout because of compounding interest. Winning something like this is amazing and I couldn't be more excited.. But what you're showing is how fast your lump can grow and how long it would take the weekly to catch up.Isn't the 'for life' part classified as 25 years. Second prize is £1,000 a month for life! With this unique product you are betting on the outcome of … Yup, you read the title correctly. Add compound to that, and you come out way ahead.Edit: 675k hehe, whoops. Winning something like this is amazing and … It’s a bit similar to The Lotto but also different in some aspects, for example, the amount you can win and how it can be delivered to you, and also the places you can submit your answer in. Everyday could be the best day ever!

At 5%, your $ 675k will be about $1,79M after 20 years while your weekly payout will be $1.86M (if you keep the money and invest it at the same rate).This is also not entirely true, assuming you'll be spending this as you have it, it's really not worth it in the long run as your return will drop significantly under what your return would be if you didn't buy anything.New comments cannot be posted and votes cannot be castMore posts from the PersonalFinanceCanada communityPress J to jump to the feed. I won $1,000 a day for life from the lottery. Here's what went down. But I bought a ticket today and I was wondering.Using Ontario's "Cash For Life" instant game as an example, would it be smarter for a 30 year old to take to the $675,000 lump sum or $1000 per week for life? Yup, you read the title correctly.

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