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Forum » 20-year-old lotto winner refused $1M in tax free cash and chose $1,000/week for life.
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Thread: 20-year-old lotto winner refused $1M in tax free cash and chose $1,000/week for life.

post 10000009371 01-12-2026, 04:37 PM
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#1
  1. taskmob
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20-year-old lotto winner refused $1M in tax free cash and chose $1,000/week for life.

She refused 1 million tax free cash for 1k a week for life.

Is she lives till 85 she'll make 3.38 million total. Is it worth it?

https://finance.yahoo.com/news/20-old-lotto-winner-refused-180000670.html
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post 10000009372 01-12-2026, 04:39 PM
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Is the 1k a week tax free?
post 10000009376 01-12-2026, 04:43 PM
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post 10000009379 01-12-2026, 04:46 PM
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pretty sure "for life" means like 20 years or something, isnt for YOUR LIFE

srs
Cobra Kai Crew

srs
post 10000009380 01-12-2026, 04:47 PM
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Originally Posted By wasp9166⏩
Is the 1k a week tax free?
What do you think dumb shit?
post 10000009385 01-12-2026, 04:53 PM
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  1. wasp9166
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Originally Posted By BriggsBrigade⏩
Originally Posted By wasp9166⏩
Is the 1k a week tax free?
What do you think dumb shit?
You should see someone for your rage
post 10000009386 01-12-2026, 04:54 PM
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#7
  1. taskmob
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Originally Posted By wasp9166⏩
Is the 1k a week tax free?
It's tax free. Since lottery winnings isnt taxed in canada.
Fk the Good Poster Crew (Lockdev, Pink, Kimm, Wasps, Expatriot, Mulloway, Luc1fer, Smallpeter, gwg, Super Hercules, Bonobo, maori-rap, Based Bagel, ezmac31, Goobaa, Godfrd and many more). You know who you are.
post 10000009390 01-12-2026, 04:56 PM
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  1. wasp9166
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Originally Posted By taskmob⏩
Originally Posted By wasp9166⏩
Is the 1k a week tax free?
It's tax free.
Seems like a smart move ,a 2nd job that's tax free

Then again, you could just dump a sh load into vtsax or the like

Its prob a wash depending how long she lives

Personal decision I suppose
post 10000009391 01-12-2026, 04:56 PM
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Take the cash now and invest

1k will be worth like 100 dollars in 15
Years


Plus the company paying out will probably go bankrupt like publishers clearing house and cuck you
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post 10000009392 01-12-2026, 04:58 PM
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Post deleted by user
post 10000009396 01-12-2026, 05:00 PM
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Nah 1 mil tax free is better.

Imagine being unable to generate a 5.2% ROI (52k she'd get each year)
"One day I won't be able to lift any more. Not I won't want to lift. I mean physically unable. That day could be decades from now or it could be tomorrow. All I know is that's the day I'll wish I could lift more than ever. The day I'd give anything for one more workout, one more set, or one more cardio session. So go hard and enjoy every workout, every set, every rep. Because one day you will wake up and you will never get it back."
-SoutheastBeast1
post 10000009398 01-12-2026, 05:03 PM
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Originally Posted By AWillis⏩
pretty sure "for life" means like 20 years or something, isnt for YOUR LIFE

srs
Yup it is usually 20/25 years or something like that. I personally wouldn't have made that choice but whatever, its her money. An extra 52k/year from 19 to 39 will set her up nicely in the end anyway.
post 10000009399 01-12-2026, 05:05 PM
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Was going to say buy a house but I googled it said avg Canadian house is 700k moose dollars

Wtf

Take the million and move the fuk.out of Canada and buy a house somewhere else
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post 10000009404 01-12-2026, 05:14 PM
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  1. MajorTendonitis
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I’d fk it away so fast at that age that I’d be broke in a year and a half . At my age I’d obviously take the buy out , but in my 20’s fk no
Back with my Fam
post 10000009407 01-12-2026, 05:18 PM
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Originally Posted By MajorTendonitis⏩
I’d fk it away so fast at that age that I’d be broke in a year and a half . At my age I’d obviously take the buy out , but in my 20’s fk no
This^^

She's young and I think she made the right choice. Not only that but I live in the present. Never really think about the future because I could be dead tomorrow...
National Level Competitor (Female BB)
post 10000009408 01-12-2026, 05:19 PM
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  1. wasp9166
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Like I said, personal decision

We dont know her and would all answer it differently

If she's bad with money and knows herself, the 1k is better ,even without inflation adjustment


If she's disciplined and money/ investment savvy ,the lump
post 10000009411 01-12-2026, 05:20 PM
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I heard about this a couple weeks ago and thought it was a horrible decision. 1,000 a week will eventually start losing value.
The only way it would make sense to me is if someone was self aware and knew they were shitty with money but she missed the opportunity to turn hundreds of thousands of dollars into something.
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post 10000009418 01-12-2026, 05:29 PM
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Lump sum is always the better decision. You never know if tomorrow will come.
post 10000009435 01-12-2026, 05:52 PM
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Oh this is Canada? So we're basically talking about funny monopoly colored money anyway so I guess it doesn't matter.
"One day I won't be able to lift any more. Not I won't want to lift. I mean physically unable. That day could be decades from now or it could be tomorrow. All I know is that's the day I'll wish I could lift more than ever. The day I'd give anything for one more workout, one more set, or one more cardio session. So go hard and enjoy every workout, every set, every rep. Because one day you will wake up and you will never get it back."
-SoutheastBeast1
post 10000009440 01-12-2026, 05:56 PM
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at 20 years old and a woman the likelihood she'll see the last 1k check come in is higher than it is not

still a gamble but i'd probably make the same decision. 1k to help towards the mortgage payment and 3k right into VOO every month
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post 10000009554 01-12-2026, 07:55 PM
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If it's 1K for the rest of her life, then that makes it slightly better than 1k until 1 million. Either way, lump sum was 100% the way to go because she'd have multiple millions accrued in 20 years over getting drip fed money you already own. inflation will definitely cut into that. she'll always be fine but could've been way better off.
post 10000009787 01-13-2026, 02:26 AM
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Tell you truth I wish I had this issue to deal with lol . They say money doesn’t buy happiness, but I could two fk’s about being happy . I just want something dropped on my doorstep daily from Amazon
Back with my Fam
post 10000009789 01-13-2026, 02:28 AM
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Originally Posted By naboo⏩
If it's 1K for the rest of her life, then that makes it slightly better than 1k until 1 million. Either way, lump sum was 100% the way to go because she'd have multiple millions accrued in 20 years over getting drip fed money you already own. inflation will definitely cut into that. she'll always be fine but could've been way better off.
some people dont trust themself not to blow it. even if not spending, bad investment can kill it if she dont know what shes doing
puckers aka phuckers aka puck aka puck nasty aka puck daddy aka big puck aka little puck aka puck the stuff

ancient astronaut theorist
post 10000009792 01-13-2026, 02:36 AM
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Lmao at all the geeks armchair quarterbacking “um yeah this was actually a dumb decision”. Lets see your $1m lottery winnings
post 10000009804 01-13-2026, 03:33 AM
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Originally Posted By Papi_Chulo⏩
Plus the company paying out will probably go bankrupt like publishers clearing house and cuck you
This. Folks woke up and stopped getting their checks with no recourse. Always take the lump sum.
post 10000009816 01-13-2026, 04:45 AM
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i don't know how moose dollars work but i would take the lump and invest it and collect on that investment, cause like others have said you can take the 1k a week but thats just 48k a year, yeah it's "free" money but say they file bankrupt , your fucked. you could be 2 years into your 1k a week and its no where near what the lump would be


Originally Posted By FatLoserNerd⏩
Lmao at all the geeks armchair quarterbacking “um yeah this was actually a dumb decision”. Lets see your $1m lottery winnings
and yet your doing it. seriously stfu before i log into my allfather account and delete you from misc history
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post 10000009823 01-13-2026, 05:06 AM
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It will take her over 19 years to get that full milly she turned down as a lump sum. I don't know just how "strong" the contract is though, so many things could happen over the year which stop those payments. The whole system could break down in a few years leaving that girl short changed. I seriously doubt that these 1k payments a week will still be going on in 2086 when the girl is 80.

In terms of actually buying stuff, she cannot commit to buying a nice house or car for quite a while as she has no money for a deposit.

The article does a good job of summing up the pros and cons.
Cook the man some eggs!
post 10000009825 01-13-2026, 05:09 AM
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#28
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Originally Posted By maori-rap⏩
It will take her over 19 years to get that full milly she turned down as a lump sum. I don't know just how "strong" the contract is though, so many things could happen over the year which stop those payments. The whole system could break down in a few years leaving that girl short changed. I seriously doubt that these 1k payments a week will still be going on in 2086 when the girl is 80.

In terms of actually buying stuff, she cannot commit to buying a nice house or car for quite a while as she has no money for a deposit.

The article does a good job of summing up the pros and cons.
damn and 04'er. Misc might have gotten a second wind. i thought i was the oldest here but you got me by 4 years
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post 10000009833 01-13-2026, 05:22 AM
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  1. maori-rap
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Originally Posted By p7nk⏩
Originally Posted By maori-rap⏩
It will take her over 19 years to get that full milly she turned down as a lump sum. I don't know just how "strong" the contract is though, so many things could happen over the year which stop those payments. The whole system could break down in a few years leaving that girl short changed. I seriously doubt that these 1k payments a week will still be going on in 2086 when the girl is 80.

In terms of actually buying stuff, she cannot commit to buying a nice house or car for quite a while as she has no money for a deposit.

The article does a good job of summing up the pros and cons.
damn and 04'er. Misc might have gotten a second wind. i thought i was the oldest here but you got me by 4 years
There were some pre 2004 users on the old misc up until the end, but I haven't seen any of them post on this forum....yet. I'm guessing that I am the longest serving miscer here now.
Cook the man some eggs!
post 10000009836 01-13-2026, 05:25 AM
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#30
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Originally Posted By maori-rap⏩
Originally Posted By p7nk⏩
Originally Posted By maori-rap⏩
It will take her over 19 years to get that full milly she turned down as a lump sum. I don't know just how "strong" the contract is though, so many things could happen over the year which stop those payments. The whole system could break down in a few years leaving that girl short changed. I seriously doubt that these 1k payments a week will still be going on in 2086 when the girl is 80.

In terms of actually buying stuff, she cannot commit to buying a nice house or car for quite a while as she has no money for a deposit.

The article does a good job of summing up the pros and cons.
damn and 04'er. Misc might have gotten a second wind. i thought i was the oldest here but you got me by 4 years
There were some pre 2004 users on the old misc up until the end, but I haven't seen any of them post on this forum....yet. I'm guessing that I am the longest serving miscer here now.
now there's a group of OG's but we're all 08'ers. damn 04 i graduated high school.
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