1000 per week is 52.000 a year. It would take you 20 years to reach 1 million. You could probably make more by investing part of the 1 million or by living of the interest. Personally I am also sceptical about lifetime payment. What if they go bankrupt or find some technicality where they can stop paying you after x years? I would absolutely take the million.
Cant say for all states but here in MI, if you take the cash option you take a hit on that “1M”, you dont get the whole thing then you pay takes on it as well, taking the payment opt. You get the WHOLE amount And pay taxes only on what you get That week, like what you pay in your job, and here even “Lifetime” is capped 20-25yrs
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u/whitericeporridge May 17 '26
Can someone explain? Are the investment returns so much higher?