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Lump sum sounds GREAT, I wouldn't say "no" to it, but if I win and have the choice, I'm taking the annuity. You should too.

An ENORMOUS amount of money is up for grabs tonight in the Powerball drawing. One-point-five-BILLION-dollars. That looks like this... $1,500,000,000. Your bank account would never be dry again.

But what's better? The lump sum or the annuity?

Here's how it breaks down according to USA MEGANot that either option is a BAD choice, because either way, that's a LOT of money.

If you decide to take the LUMP SUM, estimated at nine-hundred-thirty-MILLION-dollars ($930-million)... after you take out federal taxes of (about) two-hundred-thirty-two-million-dollars($232-million) and MN state taxes of (about) sixty-seven-million-dollars ($67-million)... you would clear AFTER TAXES, SIX-HUNDRED-THIRTY-MILLION-SEVENTY-FIVE-THOUSAND-DOLLARS ($630,075,000)!!!

Not too bad!

Now, let's look at the ANNUITY payments (this is what I would do).

Annuity means you will receive your winnings in payments over the next 30-years.

After taking out federal taxes of twelve-point-five-million-dollars ($12.5-million) and MN state taxes of three-point-six-million-dollars ($3.6-million) PER YEAR, you would take home (about) thirty-three-point-eight-million-dollars a year, FOR 30-YEARS, totaling $1,016,250,000 after your final payment, 30-years from now.

Not to mention the interest you'll earn on the annuity, that will pull in about another two-hundred-million-dollars.

So, unless you have a one-hundred-million-dollar purchase you just can't live without... I suggest taking the annuity.

SIDE BAR: It's a misconception that people think the payments stop if you were to die before the payments were met. That's not true, the money becomes part of your estate.

From Powerball.com:

WHAT HAPPENS IF AN ANNUITY PRIZE WINNER DIES?

The estate will handle the lottery prize. A lottery annuity prize is just like any other asset. You can pass any remaining annuity payments on to your heirs or to anyone else. The Powerball game will even cash out an annuity prize for an estate. This may make it easier for the estate to distribute the prize. It also may be necessary to cash out the annuity to pay Federal estate taxes. We will sell some or all of the securities at competitive bid or will even just transfer the securities to the estate. We do not charge a fee of any kind. We often hear people complain that the jackpot should not go back to "the state" when a winner dies. It does not. I think that this misunderstanding may come from the response that the prize "goes to the Estate" and some people hear "goes to the State."

Be wise in choosing your power of attorney.