1) You can’t wi if you don’t play.
2) Somebody’s gotta win.
3) I’d take the annuity and wait for a GOP congress to cut taxes.
The annuity is attractive if you are younger. Each annual payment is 5% larger than the previous year. The only gamble you’re taking after that is Democrats raising taxes. And it reduces how much you get if you share it with some family members.
The lump sum is attractive for older folks (which is why it’s typically taken) and has the bonus of paying out the taxes lump sum to Uncle Sam and it’s done for life.
At 62 I’m still on the fence which to take. I would set up a trust so that in the event of death it goes where I want it to. I’ve been leaning to taking the lump sum so that I can share it with my large family (6 older brothers and sisters), but they would only get a million each and after that its tough sh!+ if they blow it. My daughter would get enough to live comfortably and the bulk of what’s left when I die