"A nickel ain't worth a dime anymore." ~ Yogi Berra
The latest $1.79B Powerball jackpot is worth a $820M lump sum payout. That's because $1.79B is based on a 29 year annuity payout. The annuity amount fluctuates with interest rates. When interest rates are higher the total annuity payout is larger. When interest rates were lower, the same $820M lump sum would have been about $1-2B.
Most winners take the lump sum, despite the higher payout with an annuity.
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This is not financial advice. Please consult a professional advisor.
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