Bloodslick

I imagine that this thread has happened elsewhere. Imagine that this is its comeback, like Transformers, My Little Pony, and pet rocks have all had.

Let's say that you won $20 million USD, and were the sole holder of a winning ticket. You have the choice of being paid an annuity, or receiving a lump sum equal to about half the total prize. Which would you choose? What would you do with the money?

Before reporting my win to the state's lottery commission, I would retain a lawyer to review the terms of the annuity contract. (Lump sums are for those with no imagination.) I would find permanent legal counsel who was well-versed in business law, and I would hire a full-time accountant to keep my books. I would start investing based on my newly-retained financial planner's advice, in stocks, mutual funds, and new business and real estate ventures. I would donate to charity, and I would self-incorporate so that the things I spent money on in the name of business would be tax-deductible.

I would basically plan my life so that I never, ever had to work again. I could probably buy a very nice car my first year. Two years down the road, I'm sure I would have enough to buy myself a reasonable house, or to have one constructed. By the end of my lifetime, I might just have enough money in enough places with enough legal protection that I wouldn't know how to get rid of it all. Wouldn't that be nice?

Edit: I made a mistake above. Lump sums are for those with too much imagination and little practical sense.