$325,000 once or $470.00/week

[bigtravis]

I'm looking at either a onetime lump sum of $325,000 or reinstatement of care and $470.00/week for duration of life.
Don't know if any of you remember I was hurt and had to have two surgeries and had two bloodclots after the first one. Now I need a third.
Which would you choose?

 

[ponyfitness]

Do you have to pay taxes on the lump sum? If so then forget it unless you need the cash right away. You can transfer the $470/week into a separate high interest account and your kids'/families future is secure.

 

[75th]

Tax free I assume? Is it an insurance payout?

 

[bigtravis]

Yes it's all tax free including the weekly option. They can't tax but only the lost earnings which that has already been taken care of.

 

[75th]

If you can get the lump sum tax free and you have no immediate need for the funds (although I think I remember you saying something about putting a portion towards kids education) than you can always pick up some inflation protected treasuries or tax free municipals. Either way your money would be safe and youd get income off of it.

 

[bigtravis]

If you can get the lump sum tax free and you have no immediate need for the funds (although I think I remember you saying something about putting a portion towards kids education) than you can always pick up some inflation protected treasuries or tax free municipals. Either way your money would be safe and youd get income off of it.

Yeah. But how much? Let's just say I put the 300k in and kept 25k out. How much could one draw off the 300?

 

[miplank]

take the lump sum...they're betting on you not living that long.

 

[Cutiebaby]

I would go for the weekly payments. Having a lump sum payment could end up causing careless spending.

 

[bigtravis]

take the lump sum...they're betting on you not living that long.

LOL. stfu! If I did the weekly, then at 25 years it comes to $611,000

 

[SouthernLord]

Can I borrow $1200 until my brother gets well?