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this post was submitted on 30 Apr 2024
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Probably still better to take the lump and set up a trust with investments.
For sure I'd hire a financial advisor to help make those decisions.
Making the most money in a vacuum, yes it is better to take the lump. But it really depends on how smart you are as a spender of money. If you can't control yourself to not spend it all quickly, then a forced budget over 20 years might actually make you more money. This becomes less true with billion dollar winners, since the difference in what you can do between having 40M per year vs 400M lump isn't as big as 1M per year vs 10M lump. It's really easy to spend 10M and go broke, but getting a guaranteed income of 1M for 20 years makes it less likely you'll go broke.