This 20-year-old lotto winner refused $1M in cash and chose $1,000/week for life. Now she's getting slammed for it
This 20-year-old lotto winner refused $1M in cash and chose $1,000/week for life. Now she's getting slammed for it
This 20-year-old lotto winner refused $1M in cash and chose $1,000/week for life. Now she's getting slammed for it
Meet Sarah, a 20-year-old who made headlines last year when she won the lottery with a staggering amount of $1 million. But instead of taking home that huge sum, Sarah opted for an annual payout of $50,000 per year, which translates to just under $1,000 per week, for life.
At first glance, this might seem like a crazy decision, but we need to consider the tax implications and long-term financial stability. However, it seems that many people are criticizing Sarah's choice, with some even calling her 'irresponsible'.
The criticism comes from the fact that by choosing an annual payout, Sarah is likely losing out on tens of thousands of dollars in upfront cash compared to taking the lump sum. Additionally, if she were to pass away early, her family might not get as much money as they would have had she chosen the lump sum.
While we can't judge someone's personal financial decisions, it does make for an interesting discussion on what constitutes 'responsible' behavior when it comes to handling large sums of money. After all, who wouldn't want that kind of cash? But perhaps Sarah has a plan in place that none of us know about.
Either way, we'd love to hear from you: would you choose the lump sum or the annual payout if you were in Sarah's shoes? Let us know in the comments below!
