I would prefer the lump sum. Mainly because I could get all my debt paid off and pay for a house for myself and one for my family up front, then start investing which is what I'd be doing with the annuity anyway. No reason to wait 2-3 years before you get done with everything you would want to get done right away.
Quit my job, buy a nice car like a G35 and another project car to work on in my spare time. Go back to school and become a teacher if I could, and work for free.
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