this post was submitted on 30 Dec 2024
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Lotterys are usually paid out in annuities where you would get that amount over a period of 10-30 years. However, they also give a lump sum amount which is usually ~half the stated amount and after taxes you could expect to receive 1/3 the stated amount.
Still, it's generally best to take the lump sum unless you have very bad self control and would blow through the money.
Why? I would assume it's the other way round.
The lump sum will grow to be worth more than the annuity over the same period if properly invested
Properly investing takes a lot of time and your big lump of money is not protected if the bank goes under. But yes, that is the best strategy.
Yeah for protection you invest it into US Treasuries or German Bunds and collect the interest. Not very likely that the US or German economy will collapse before any bank will go under. If the US economy is collapsing everyone is fucked anyway even the crypto bros, since there is a world war going on.