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 - Tractor Traction - by Chris Pratt. Our first bout with traction problems came when cultivatin with our Massey-Harris Pony. Up till then, this tractor had been running a corn grinder and pulling a trailer. It had new unfilled rear tires and no wheel weights. The garden was already sprouting when we hooked up the mid-mount shovel cultivators to the Pony. The seed bed was soft enough that the rear end would spin and slowly work its way to the downhill side of the gardens slight incline. From this, we learned our lesson sinc
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