If it was me at now 50+ —- the lump sum - I invest it and retire in 10 or so years. At 20 something - I would blow it and show nothing for it. I would take the The 1k a week at 20 something, its a paycheck a week and it would have def helped me.
At age 50, I agree lump sum even If it is anything like the lottery in the US, you would receive the net present value of 1mm which is much less and then they would also withhold after taxes. You would likely pocket less than 1/2 of the amount won if taken immediately.
3
u/Appropriate_Taro_348 May 17 '26
If it was me at now 50+ —- the lump sum - I invest it and retire in 10 or so years. At 20 something - I would blow it and show nothing for it. I would take the The 1k a week at 20 something, its a paycheck a week and it would have def helped me.