Quote:
Originally Posted by LJSDesigns
I would do the lump sum so that I could set up the charitable foundations that I have planned as part of my "I won the lottery" dream. Truthfully, if I won the lottery, I would use most of the money to create some good in the world. I have very simple needs and don't see those changing much because of money. I think excess of anything is just a waste, and I don't like to waste money, so I would put it to the best possible good I could.
My aunt left my cousin over a million dollars in life insurance when she passed and a monthly annuity that covered all her bills. My cousin went through the million in months and then sold the annuity for a lump sum that she also went through. In under 12 months she was living in her car because of stupid, greedy, decisions and excess. She liked two houses, so she brought them both. How insane is that? I know it is mean to say, but if you are that stupid with money, you deserve to live in your car.
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I see that a lot of people burn through massive amounts of money the same way! You have to have somebody helping you manage it and a lot of people don't.
Your plan sounds wonderful!