The advertised winnings vs cash value is a little deceiving but the the cash value is the actual amount of the winnings either way ( 1.5 bill advertised = 930 mil actual) If you take the annuity they simply "invest" the 930 mil for you and pay you annually for 29 years, its 30 payments but you get the 1st one now.
The annuity is your money or just like any other asset you own, nobody can take it from you and it can not disappear , even when you die. The money is unconditionally yours and guaranteed to you in every way. If you die it would go to your estate, trust or whoever is in your will etc.
The figures below are approximate based on the estimated "1.5 billion" and taxes. Different states have different tax rates, so actual money you pay in taxes will vary.
Lump sum payment = $930 million ( cash value )
lump sum after taxes = 650 million (depending on state tax rates, I think NY is the highest, might be around 600 million or a little less)
30 year payout value = 1.5 billion
30 year payout value after taxes = 1 billion
So, as you can see if you take the lump sum (cash value) you will net around 650 million, If you take the payout you net around 1 billion.
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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