Take the money and run???

[rdm4rbrhntu55001234]

I have a choice of $34,000 one lump sum or $192/month until I die. It takes 14.7 years to accumulate $34,000 at $192/month. What do I do?

[redwudz]

First consider the taxes on the lump sum. They can amount to a lot. If enough is left over after taxes, then consider re-investing it.
You might end up with a lot more than $192 a month for 14.7 years.

Really, talk to a local financial counselor. They can usually give you the best info for your choices.

[rdm4rbrhntu55001234]

Will do. Thanks...

[videon00b]

Take the money and re-invest it. 34000 will be about 20,000 in 15 years, maybe less. Trump wants to unload a lot of this debt Obammy doubled in 8 years.

[T-dawg]

Take the money and buy some cryptocurrency. But don't invest in just one coin, try different kinds: bitcoin, etheurum, etc.

After profit, make sure to cash the money you invested and leave all the rest to naturally grow overtime.

[KarMa]

Take the money and re-invest it. 34000 will be about 20,000 in 15 years, maybe less. Trump wants to unload a lot of this debt Obammy doubled in 8 years.

Unload debt with inflation? Not really sure how Trump is going to drop the debt when the new tax bill that passed is expected to add 1-1.4 Trillion to the debt over the next decade.

Anyway, with standard inflation of 2-3%, $34,000 today would be worth between $18k-22k (2018 dollars) in 2038. And assuming 2% inflation, $192 today would be worth $128 (in 2018 dollars) in 2038.

Take the money and buy some cryptocurrency. But don't invest in just one coin, try different kinds: bitcoin, etheurum, etc.

After profit, make sure to cash the money you invested and leave all the rest to naturally grow overtime.

I've been in with Bitcoin since 2011, and would never recommend it to anyone and have felt like that for years. The current Bitcoin price is not really based on reality, it's acceptance, or quality of Bitcoin infrastructure but mostly on hype. If you can predict the hype cycle then you can make out like a king but when the music stops most people are going to be without a chair that cycle. The last 2-3 hype cycles have been driven by the news cycle where it's big for a few months and then they stop talking about it killing the price.

Then there's the part were we have already hit the transaction limit on bitcoin based on the current code. They have tried updating it by doubling the block size but it never gained majority acceptance and probably will never happen with Bitcash being a thing (Bitcash being a fork of Bitcoin). So if you ever want to send Bitcoin to another wallet within the day, then you need to pay like $30 depending on demand which is insane and kills any kind of economy bitcoins wants to have. No wonder Steam (Video game online store) dropped Bitcoin as an accepted currency.

If you can get in early with other cryptocurrencies then you will probably make out better, assuming that flavor of coin becomes popular. But it's not much different than gambling or the stock market.

[DB83]

If the OP is still around then redwudz's advice is the most sound.

I worked in the accountancy profession and whllst we were good at advising of how to invest in a pension (for retirement or even earlier) we would generally direct the client to third-party advice if and when it came to this sort of decision. Wise really since it is no fun being sued for bad advice. When it came for me to draw my pension my personal circumstances dictated that I had to take the lump sum with a small amount put aside at a relatively low rate of interest should I ever need to draw on it.

Now I do not know what interest rates are like stateside but the quoted figures represent and annual return of 6.78%. Over here one could not get that sort of return AND have access to the fund in the event of a 'rainy day'. Generally, you could only achieve that sort of return by investing in 'the market' which itself carries large risks. If the money is important for you then you should look for a guaranteed return which, inevitably, will yield smaller returns.

[lordsmurf]

The bigger issue is this: Do you trust the entity to be around in 15+ years, and not screw with the funds?
These days, it's laughable.
Lump sum with self-investment usually better long-term.

[cornemuse]

How many people opt for monthly/yearly payments when the win the lottery??
No one trusts the (any) state to handle money, , , , ,

[hardy]

lump sum for me

[DB83]

With this topic being over 9 months old I am curious if the OP has anything left