Set for life scratch tickets.

Randal

Member
I keep seeing these "set for life" scratch tickets on TV in commercials. You can win either $1,000,000 or $10,000 + $1000 per week for 1290 weeks.

So basically, $1,000,000 or $1000 a week for 25 years.
What would you choose?

Like, unless you're bad with money and would totally waste the $1,000,000 right away there's no reason to take the $1000 a week for 25 years. Hell, you could die tomorrow and have nothing to hand over to your family except for the check that's coming in the mail!!!! Not to mention the interest off $1M after 25 years is definately greater than $300,000. I make this comparison because $1000 x 52 weeks in a year x 25 years = $1.3M !!!
I'm guessing the interest off $1M in the bank for just 10 years is greater than $300,000.
Am I wrong here? Would anyone here know why anyone would take the $1000/w for life for any reason other than being really irresponsible with money?


Here's a link: http://www.wclc.com/games/scratch_win/scratch_win_other.html
 

Brad

Member
Hmmm ... $1M @ 5% interest will get $50K a year ... there's your 1000 a week, and you have the Mill in the bank, and after 25 yrs the thou/week still keeps coming ... as long as temptation to dip into the principal is held at bay, and Immelda doesn't need a new shoe closet ... :D

Of course with a $1M one could prob get more than 5% interest anyway ...

my2cents
 
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