I saw a TV program about a year ago which did feature several people who actually did properly manage their winnings over long periods of time. Many used it to start businesses, or invested wisely, and generally did the right thing.
I (not that I ever even buy lottery tickets) would take the lump sum, as I don't trust the state to keep paying all those years (I fully expect them to somehow raid the funds one of these days).
“I saw a TV program about a year ago which did feature several people who actually did properly manage their winnings over long periods of time. Many used it to start businesses, or invested wisely, and generally did the right thing.”
My next door neighbor won the lottery 14 years ago. He won 3 million dollars. He chose the lump sum payment, which after taxes came to around 960 thousand dollars as I understand it. He was pissed because he thought that lump sum payment meant that he would get the full 3 million. Still, he put the money to good use renovating and expanding his small house and starting up his own business (a plumber). He seems to be doing very well for himself. The only luxury that he bought, that I know of, is an inground swimming pool in his backyard.