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submitted 4 days ago by nifty@lemmy.world to c/196

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[-] nimble 180 points 3 days ago

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.

[-] callouscomic@lemm.ee 153 points 3 days ago

Statistics show it's literally best NOT to take the lump sum and that most people have no self control.

[-] nimble 21 points 3 days ago

As i said

unless you have very bad self control and would blow through the money.

Which is why you can work with a financial advisor and other wealth management strategies to set yourself up for success.

But yes, lots of people have lack of self control but if you're going to throw around big words like statistics then show those receipts. And i mean actual studies not an article pulling numbers out of their ass.

[-] Confused_Emus@lemmy.dbzer0.com 10 points 3 days ago

Statistics is a “big word”?

[-] nimble 15 points 3 days ago

No, but it has meaning. So claiming statistics without said statistics is just speaking out of your ass

[-] Confused_Emus@lemmy.dbzer0.com 9 points 3 days ago

Ah, big as in meaning, not just “difficult big word.” Misread, and totally agree.

[-] allo@sh.itjust.works 1 points 3 days ago

i've seen bigger

[-] callouscomic@lemm.ee 1 points 2 days ago* (last edited 2 days ago)

Statistics is a big word, yet you toss around "wealth management strategies" as if that isn't meaningless textbook bullshit.

I opened a bank account today and put $20 in it. It's a "wealth management strategy."

[-] nimble 2 points 2 days ago* (last edited 2 days ago)

Yeah i knew you didn't have the data but thanks for confirming with this logical fallacy trash.

Wealth management are certified professionals who would be able to look at your entire balance sheet and help manage assets, provide financial advice, tax advice, etc. I specifically was referring to setting up an LLC or trust to claim the funds through and structure those entities in a way that you don't have direct access to all the funds to avoid burning through all the funds.

To your nonstatistical point: people have no self control, just look at you and me needing to reply to each other, but someone who wins the lottery will be able to afford professionals whose job it is to help beat those odds.

Anyway I'm glad you've saved $20 today and hope you have a great day