Right Decision?

[Elzo69Renaissance]

 

[Chi-Town B]

I would have took the $1300 a week, you can lose your job but you know that money will always keep coming

 

[DOS_patos]

I can live very good on $1300 loot

 

[Young_Chitlin]

Weekly money

 

[KINGEC]

$1300 per week. That's guaranteed money for the rest of your life

1.3 mill can go like that.

 

[AZTG]

Its really not black and white.

If I gotta good paying career, health care, money in the bank, im taking the 1.3 mil.

If im straight out of jail and have none of that and know its gonma be hard for me to find a food job, im taking the 1,300 per week.

 

[Chicity]

Is it 1300 before or after taxes?

5200 after taxes plus my salary at work ain't that bad

 

[Playmaker88]

and then you die the next week... im taking the lump sum every damn time im not obsessive

 

[SeaSnake]

Lump sum. Im not trying to go.to work

 

[Sam Crooke]

How much are they gon take from him in the long run tho? I know he got sum outstanding bills

 

[Rubato]

I need to know more about the tax penalties associated with each option

 

[shutupGabi]

If you have no plan, a lump sum is a terrible idea. Take that weekly money and figure it out as you go.

 

[konceptjones]

Y'all ain't taking into account for his circumstances. He just came home and he's still on papers. Finding employment is going to be tough and in a lot of areas finding an apartment or house to rent will be just as hard 'cause they ain't taking people with felonies.

$1.3M, after federal taxes leaves you with $831K. He's from California so the taxes on that further deducts another $178K from that money, leaving him with $653K.

Even where he's from (Sacramento), that's enough to cop a decent 4 bedroom crib, a couple of decent cars, and stick some money into some sort of investment device to stretch the money out. After that, all he would need is a job at Home Depot or another spot that hires felons and he's straight.

 

[T. Sanford]

and then you die the next week... im taking the lump sum every damn time im not obsessive

This

Tomorrow isn't promised. Let me grab that lump sum too. It'll take 21 years to get that 1.3 million through weekly pay

 

[konceptjones]

 

[Word....Life]

Wtf would I care about a lump sum or 1300 a week if I die in 2 days?! Y’all niggaz funny af lol

I’d take tha lump sum...find/perfect a trade and open my own shit...then proceed to ball out

 

[OhMars]

Take the lump sum. The $1300 a week doesn't adjust for inflation, meaning it will be worth a lot less over the long term and he'll have to keep his day job. The lump sum he could find investments that could keep up with inflation and enable him to make a great living.

These niggas don't understand the time value for money. Money is worth more now then it is in the future.

 

[Sam Crooke]

It's a lot of people on here with poor money management skills b

 

[B_A]

I think the 'for life' is 25yrs which works out to the same if you consider the interest on the money sitting in an acct accruing while they slowly dispense it. I guess it really depends on the person and how they deal with money which way they should take the money.

 

[King Freeman]

Taking the lump sum and flipping that shit. You can't do much with 1300 but cover living expenses. I'd use that lump sum to shoot my best shot at growing my wealth.