Lotto - Why people take the lump sum over annual income. How to turn part of a lump sum into income.

Just a fun exercise into the reasoning on why people may take the lump sum over annual payments.

How part of a lump sum can be turned into an annual income.

Cost to fund a $250,000 ($125,000 per company) annual income for a guaranteed 20, 25 or 30 years!

30 Years: Cost $3,804,621.01 | Guaranteed return $7,500,000
25 Years: Cost $3,513,098.38 | Guaranteed return $6,250,002
20 Years: Cost $3,131,348.48 | Guaranteed return $5,000,001

Links:
CALIFORNIA LOTTERY - https://www.calottery.com/
Lottery Calculator - https://www.omnicalculator.com/finance/lottery-tax

SPIA Quote Request: https://www.spiaquote.com/get-a-quote.html

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