One must assume the lottery or bank holding the funds will remain viable to take the monthly payments. One crook in charge or bad luck bank and you could get little to nothing.
I think this is the main reason people take the lump sum payment because it’s guaranteed money.
Good point.
One must assume the lottery or bank holding the funds will remain viable to take the monthly payments. One crook in charge or bad luck bank and you could get little to nothing. I think this is the main reason people take the lump sum payment because it’s guaranteed money.
That's why you don't put your money into a bank or into the hands of an independent money manager. Invest with a reputable money managing company, like Edward Jones or ING.
Yes indeed, don’t invest with Madoff — I am sure there others like him out there too.
DIVERSIFY, don’t invest with an investment advisor, just because all the famous people do, many lost a great deal of money because they were greedy and gullible and believed Madoff.