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  #1  
May 7th, 2008, 06:21 AM
SAHM and scrappymommy
Join Date: May 2007
Location: Ontario Canada
Posts: 16,634
the Cash for life lottery would you take the million or the weekly payout?

I would take the weekly payout so I would have a regular amount of money coming in every week.
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  #2  
May 7th, 2008, 06:46 AM
babydahl's Avatar Platinum Supermommy
Join Date: Jun 2005
Posts: 13,871
A guy in town just won this with "Set for life" and took the payout.

I'd definitely take the weekly amounts.
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  #3  
May 7th, 2008, 07:06 AM
Peachy's Avatar Veteran
Join Date: Jun 2006
Location: Canada
Posts: 458
I'd take the lump sum so that I could invest it and make that pot of money bigger
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  #4  
May 7th, 2008, 07:22 AM
Tiggy's Avatar Platinum Supermommy
Join Date: Jul 2005
Location: East Coast
Posts: 6,162
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I'd take it to get interest myself on it
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  #5  
May 7th, 2008, 08:25 AM
SAHM and scrappymommy
Join Date: May 2007
Location: Ontario Canada
Posts: 16,634
Quote:
A guy in town just won this with "Set for life" and took the payout.

I'd definitely take the weekly amounts.[/b]
I saw that in the news.....LUCKY him!
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  #6  
May 7th, 2008, 08:41 AM
*Stacey*'s Avatar life=laundry
Join Date: Mar 2006
Location: Ontario, Canada
Posts: 14,362
I'd take the weekly payout.

Dh would still work (LOL) and we would enjoy some of it...vacations, new car, etc. and then just let the rest build up in the bank/RRSP/RESP.
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  #7  
May 7th, 2008, 09:03 AM
Melz's Avatar Team Edward
Join Date: Nov 2005
Location: Canada
Posts: 12,840
I would take the lump sum... If you died in a month after winning your family doesnt getting it. So at least if you have the lump sum your family can still enjoy the money and take care of things.
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  #9  
May 7th, 2008, 10:05 AM
Kalia20's Avatar Platinum Supermommy
Join Date: Jul 2007
Location: ontario canada
Posts: 5,884
I would take the weekly payout because thats guarenteed income. If I had it all at once I know I would blow it all.
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  #10  
May 7th, 2008, 11:32 AM
$pryNinja's Avatar Zef Fre$ Mom
Join Date: Jun 2007
Location: Ontario Canada
Posts: 5,557
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I would take the weekly payouts too..
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  #11  
May 7th, 2008, 01:51 PM
Taramomof3's Avatar Platinum Super Mommy
Join Date: Dec 2007
Location: Alberta, Canada
Posts: 12,398
I would take the weekly payouts.
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  #12  
May 7th, 2008, 03:54 PM
Veteran
Join Date: Mar 2008
Location: Alberta
Posts: 120
I'd take the lump sum.. But invest as much as I can!
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  #13  
May 7th, 2008, 04:55 PM
Just_Marie's Avatar Platinum Supermommy
Join Date: Jan 2006
Location: Canada
Posts: 28,159
I'd take the lump sum, pay bills, have fun, invest the rest!
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  #14  
May 7th, 2008, 06:02 PM
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Posts: 16,068
Hmmm. If I took the weekly payouts, that would take about 20 years to get the million. But it is guaranteed income. BUT if I took the million now, I could pay off my mortgage, renovate the kitchen, have leftover for investments, and without a mortgage payment I'd have more disposable income. I'm going to take the million now!
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  #15  
May 10th, 2008, 05:43 PM
meghan.'s Avatar Platinum Supermommy
Join Date: Apr 2008
Location: Ontario, Canada
Posts: 5,996
Quote:
Hmmm. If I took the weekly payouts, that would take about 20 years to get the million. But it is guaranteed income. BUT if I took the million now, I could pay off my mortgage, renovate the kitchen, have leftover for investments, and without a mortgage payment I'd have more disposable income. I'm going to take the million now! [/b]

I was going to say weekly payouts until I read this. Very smart!

Yes, life without a mortgage payment would be splendid.
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  #16  
May 11th, 2008, 06:23 PM
Nikki.'s Avatar Platinum Supermommy
Join Date: Mar 2007
Location: Canada
Posts: 14,660
I would take the weekly payouts. That way I wouldn't blow it all at once.
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