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The jackpot is over $685 Million. After US taxes that would be about $360 Million if you took the 25 year payout. The straight cash option would about $200 Million BEFORE taxes.

Which would you choose? The 25 year plan with paying taxes every year - or straight cash money after taxes?

The jackpot is over $685 Million. After US taxes that would be about $360 Million if you took the 25 year payout. The straight cash option would about $200 Million BEFORE taxes. Which would you choose? The 25 year plan with paying taxes every year - or straight cash money after taxes?

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[–] • 3 pts (edited )

To be fair though, he's not entirely wrong on how coming into large amounts of money suddenly if you've previously not had money can really fuck you up mentally. Having enough money to suddenly be able to buy everything would be akin to playing a game with cheat codes - it might be fun in the start, but very rapidly life would become really boring. With a lot of things, the journey to achieving something is what makes it worthwhile in the end - if you remove that journey the end goal becomes often meaningless. It's why the rich and famous very often descend into vices and stupidity - because everything else is boring to them. That being said - what is "a lot of money" to one person may not be for another. If you live in the middle of nowhere, 1 million dollars would allow you to live comfortably for the rest of your days, but if you're in a city you probably wouldn't be able to even afford a studio apartment. Its relative on that part.

[–] • 0 pt

"Money may not buy happiness but it sure makes misery easier to live with"

Sudden wealth syndrome is a thing I'm not denying that. I was harsh with my comment but this is the internet so meh. I think what you're saying applies to silver spoon kids the most, lottery winners are a different story. If people aren't very good at math then they could easily burn through $50 million before they even know they have spent it. But some people that win lotteries or come across wealth are more than happy to give it all away and make others people's lives better as well it goes both ways. In my not so humble opinion, being wealthy will always be a better option than grinding your life away becuase you feel there is value in extended periods of drudgery. Nah

[–] • 0 pt

being wealthy will always be a better option than grinding your life away becuase you feel there is value in extended periods of drudgery

It depends how you end up getting that money. If you have earned that money over time, or you have the right mindset on money (ie. not to piss it all away as soon as you get it) you won't go nuts, even if you ended up coming into a lot of money on top of that. Those who suddenly get money that they don't have an adequate way to deal with it, they will have no impulse control.