this post was submitted on 08 Mar 2025
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For me, I have two concerns (like it matters, I'm never winning). The organization running the lottery could fold and I can likely make more investing the lump sum myself. Plus I really want to start a nonprofit grocery chain.
Even worse is that if the state you won in had financial issues they can and will hold payments until the budget is balanced. I recall hearing something about Illinois holding lottery payments when there was a shutdown.
Facts and statistics say the organization running the lottery is IMMENSELY less likely to run out of money than YOU. Take the annuity. Winning the lottery does not suddenly make one smart with money.
Up until recently, I'd take the annuity, but right now, the stability of the underlying currency and the organization that pays out is in serious doubt.
Even in today's political climate I'm pretty sure the State of California will still be able to make your payments over 30 years. If you didn't spend it on anything else, you could make a start on that grocery chain. You'd probably learn a lot in the first few years, some expensive lessons. But having started small, you could put the next payments towards putting those lessons to work as you expand. Meanwhile, you're not investing any attention or risk into those funds. But you do hypothetical you!
Editing to add, the guy who actually won might be able to do some real good in his own neighborhood, which had that big wildfire.